What is the probability in the context of IPL betting.

Posted by CBTF Tips on April 7th, 2019

With the popularity on the rise, the cricket betting tips is also gaining wide popularity. However, betting is not all about gambling. It is way different as it involves some of the most vital factors performance, weather, pitch and other vital factors instead of just relying on some “X-factor”. So, if you are a beginner in eh betting market then you can check for the quality cricket betting tips free. However, if you are a total beginner then it would be bets to know about the various types of betting terminology and calculation methods:

What is the probability in the context of Free Cricket betting tips?

Chance in the context of betting is the probability of happening of a certain event. Understandably you compare the chance of a certain event happening as against the 100% collective events. It is not very much different from rolling a dice.

When you roll a dice, you may try your best to ensure that number 6 should come up. You any also settle for a lower number, even for the 1 if that is all you need to win. However, it is generally not possible to predict the number that will come up no matter how intensely we desire. But there is an equal probability of any of the 6 numbers to come up.

You divide 100% by the 6 results that could possibly be achieved. The answer is 16.66%. That means each side has 16.66 percent probability of coming up,

Decimal Figures

While the above would not seem much complicated many people are still puzzled when they see the cricket betting tips free probabilities being discussed in terms of decimal figures. The answer is not difficult. All you have to do is to convert the percentage into points just divide the 100% with the probability figure. If the probability is 75% then basically you should divide 100 by 75 and the answer is 1.3. This 1.33 is expressed in the terms of the Odds. IPL Betting Tips

Fractional odds

These are known as European odds. In short, you get a return of 2.50 for every unit that you bet on the result. In other words, after subtracting the unit you will get a net profit of 1.50

Another way of expression of odds is fractional odds and it is mainly used in the UK. They use the / sign to express the probability. For example, the 2.50 probability in eh above example will be 6/4. But alternatively, it can also be expressed as 3/2 or 1.5/1 as they also have the same results.

In short, you need to bet 1 GBP in order to win 1.5 GBP!

One thing to understand here is the fractional of the net profit is calculated. In other words, the fractional odds will calculate your bet profit and not the entire return of a bet. Hence in the instance of 3/2 you will need to bet 2 units if you wish to win 3 units!

However, the fractional odds are fast fading away due to some complexity it offers The fractional odds can be converted to decimal off by dividing them and adding one to the result!  Else you can also divide numerator and the denominator and divide the result by denominator

In order to calculate implied probability pen should divide 100% by in decimal odds.

100% divided by 2.50 gives 40 %.