Our Comprehensive Guide to Cricket Betting

Posted by Harry Kane on Tuesday, November 14, 2023

The 2023 ICC ODI Cricket World Cup has been a huge viewing spectacle, while it may yet break new records in terms of economic output and revenue generation. More specifically, it may yet boast a higher economic impact than the £350 million generated by the 2019 Word Cup in the UK, with host nation India a hotbed of cricket and home millions of enthused fans.

These impassioned fans are also avid bettors on the Cricket World Cup and One Day Internationals as a whole, with an estimated 340 million Indians known to wager regularly on the sport. On average, some $200 million is wagered on each ODI, which is a huge amount that highlights the popularity of cricket betting in India.

Of course, the global cricket calendar is also incredibly hectic and packed full of events, from Test series and international ODIs to the growing selection of T20 matches that are hosted globally all year round. In this guide, we’ll take a closer look at these tournaments and popular cricket betting markets around the world, while asking how you can leverage these to your advantage as a punter!

What are the Most Popular Cricket Betting Tournaments?

Before we take a much closer look at the most seminal cricket betting markets and wager types, it’s important to consider the sport’s most popular competitions and their history. These tournaments are hosted at variable junctures and often travel the world, while they retain the ability to transcend the sport and engage the interests of even casual bettors. Here’s an example of the most popular cricket competitions!

The Ashes

The Ashes is the world’s most iconic, historic and widely watched Men’s Test cricket series, while it is contested biennially by England and Australia. Teams exchange hosting duties every two years, while the most recent iteration was contested earlier this summer in the UK (Australia duly retained the Ashes after securing a dramatic 2-2 draw and staving off a courageous England comeback).

This series can trace its origins back to 1882, with the competition inaugurated following Australia’s 1882 victory at The Oval (their first win on English soil). Immediately after, The Sporting Times publication published a satirical obituary that announced the death of English cricket, while legend has it that the bails used in the match were burned and contained in a small urn.

It’s a replica of this urn that the two sides compete for, with the next Ashes series scheduled to take place in the Australian summer of 2025 (between November and January 2026). As of this summer, Australia have won 152 Ashes Tests and 34 of the 73 series’ contested, while the Three Lions have won 111 games and 32 series overall.

The ICC Men’s Cricket World Cup

The 2023 ICC Men’s Cricket World Cup was the 13th iteration of the sport’s premier ODI international tournament, which was inaugurated in 1975. This is a quadrennial competition that features the leading men’s ODI nations in the world, with a total of 10 competing in 2023 (as we’ve already touched on, this particular edition was hosted by India).

The inaugural World Cup was organised and hosted in England in June 1975, just four years after the first ever ODI cricket match was played. In fact, this tournament came to pass barely a decade after limited overs cricket was first popularised in the UK, with this rapid evolution a testament to its immense popularity among fans and bettors alike.

This tournament has produced six different winners during its 12 completed iterations, namely West Indies, India, Australia, Pakistan, Sri Lanka and England. Of these nations, Australia have won the tournament a record five times (in 1987, 1999, 2003, 2007 and 2015), while the West Indies, and India have prevailed twice. Defending champions England won their maiden title as the hosts in 2019.

The ICC Men’s T20 World Cup

Like the emergence of ODI cricket some 60 years ago, the popular T20 format (which sees sides compete in 20-over-per-innings matches) has taken the sport by storm after its introduction in 2003. Just four years later, the first ever ICC T20 World Cup was hosted in South Africa, while the tournament takes place every two years on average.

Interestingly, the next iteration of this tournament will take place in the West Indies and the United States in 2024, with this competition set to take place between June 4th and June 30th. This will see a record 20 teams participate (up from just 12 in 2007), with Papua New Guinea, Nepal, Oman and the United States all set to make their debut in the tournament.

Of the eight completed tournaments to date, there have been six winners, including India, Pakistan, England, the West Indies, Sri Lanka and Australia. Of these nations, the Windies (2012 and 2016) and England (2010 and 2022) have won the tournament twice, while the Three Lions are also the defending champions in this global format!

What are the Most Popular Cricket Betting Markets

These tournaments are all diverse and incredibly popular, while they unlock thousands of potential betting markets (both in terms of future and match wagering markets and in-play alternative or micro bets). However, some of these markets and wager types are considerably more popular than others, with the following options the most sought after by punters!

• Outright or Futures Betting: If you want to wager on the prospective winners of The Ashes, ICC ODI World Cup or similar tournament, you’ll need to place what’s known as an outright or futures bet. This is typically placed ahead of the tournament and will be based on your existing knowledge base or analysis of the competitors, while it’s often better to execute this type of wager early and before the starting prices start to drift and shorten.
• Match Betting: These tournaments are also home to a number of individual matches, from qualifiers and group stage games to those that take place during knockout phases. You can bet on the winner of individual matches both before they start or in-play, while the odds associated with this market are typically tighter and quite short. Match betting also unlocks a number of additional markets that can be used to create far greater value.
• Handicapping: One such market is handicapping, which may also be referred to as spread betting in some markets. Handicapping can be used to create value in published odds when wagering on potential mismatches, as you ascribe a virtual deficit to a short price favourite and back them to triumph at a specific and extended winning margin (either in terms of runs or wickets). Although the side that you back will have to prevail by the requisite margin for the bet to come in, this enables you to wager at much more competitive odds.
• Accumulator Betting: During the early stages of tournaments (and depending on the format), there may be a number of potential mismatches taking place. In this instance, you can combine anywhere between four and 20 individual picks and selections in a single wager, with the published odds multiplied to create an extended starting price. All of your picks will have to be successful (unless you can take out ‘acca’ insurance), but this can increase your potential returns when backing match betting favourites. This type of betting will prove particularly popular during the T20 WC in 2024, when several minnows will make their tournament debut.
• Team Prop Betting: Team ‘prop’ bets are synonymous with in-play wagering, while they refer to unique match outcomes that may occur but are not related to the final result. For example, you can wager on which teams will score the most runs during the powerplay in an ODI or T20 World Cup game, while potentially accessing the over/under on the total number of runs that a side will score overall. Team prop betting is incredibly popular, while there’s a huge range of associated markets in play here!
• Player Prop Betting: Similarly, player prop bets relate directly to individual performances and outcomes that may occur during a particular game (or tournament, if you’re engaging in futures wagering). Most common prop bets include the leading individual run scorer in a match or competition, or the identity of the bowler who will take the most wickets. The range of player props will vary from one sportsbook to another, so be sure to compare the market to find the best selection and most competitive odds!

Our Detailed Cricket Betting Tips

While understanding the available tournaments and most popular cricket betting markets is one thing, it’s also important to understand these in more detail and identify ways in which you can leverage these to your advantage. So, we’ve prepared some detailed cricket betting tips to help you get started!

#1. Analyse Form and Conditions

“Analyse the form” remains the single most generic piece of sports betting advice that you can receive, as the key datasets that you use will vary from one sport, tournament or match to another. Certainly, analysing home and away form is key when betting on cricket, due to the impact of variable pitch and weather conditions that can be found all over the world.

For example, English conditions are known to create prodigious ball swing and lateral movement, whereas pitches in the southern hemisphere are much firmer and home to more pronounced bounce. Conversely, subcontinent pitches are dry and conducive to spin bowling, while the ball usually comes onto the bat much more slowly. Remember, these conditions are more likely to have an impact on the result the longer the format, with Test matches offering a relevant case in point.

#2. Consider the Toss

Similarly, there may be instances where the weather has created a damp pitch or is likely to contribute to significant ball swing, with the phenomenon most commonplace in English games and tournaments. In this case, a side winning the toss and inserting their opponent to bat can prove seminal, as they’ll have the chance to bowl them out cheaply before batting in much more favourable conditions later on.

The reverse can be true when a side wins the toss and opts to bat on a flat and evenly paced pitch in clear, sunny conditions. Regardless, you may want to delay some match betting decisions until the toss has been made, especially when wagering on close and keenly contested games or those that are being played over a longer format.

#3. Use Live and In-Play Betting Strategically

In-play betting should definitely play a key role in your cricket wagering strategy, especially as the fast pace and reactiveness of this marketplace can occasionally unlock better odds than those that are available pre-match (especially if you’re an informed better who’s able to leverage extensive knowledge of the competing teams and players).

For example, a common and potentially lucrative cricket betting strategy is to wager on the moneyline directly after the toss or first ball has been bowled, as this can create a significant shift in the odds that may be favourable to you and offer significantly more value than the closing lines prior to the start of play.

Similarly, those of you who engage in live betting may also want to keep your eyes peeled for so-called “arbitrage” opportunities. This may prove particularly prevalent when using both a licensed sportsbooks and betting exchange, as this allows you to place opposing lay and back bets in order to guarantee a viable profit. You should also look to further cover your bets and minimise the risk of loss in real-time, ideally by leveraging two different sportsbooks before confirming your wagers.