How to Earn Money On Cricket Betting: The Risks and Rewards

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How to Earn Money On Cricket Betting: The Risks and Rewards

Let’s start by asking what is betting? Betting is gambling money on the outcome of an unpredictable game be it cricket, football or a horse race and so on. The reason people choose to bet is that it is cheaper than a bowling ticket and its return on investment is huge, once you win. It is also an easier resort to make money especially if you are risk-averse and have a huge appetite for taking risks.

Also unlike tons of other hobbies out there which you may or may not be able to do every day, betting can be done on a day-to-day basis on any sport of your interest. For example, there is always a cricket match going on in some corner of the street and there is always someone willing to bet on it if they could.

While betting sounds like an easy thing to do superficially, let’s try dissecting cricket to understand the intricacies of betting in cricket.

Betting on Big Names: Be it, players or teams

Let’s take the example of IPL, something that is ongoing. After the first two matches, it is fairly obvious how a lot of people will surely start betting on Royal Challengers Bangalore(RCB) for the upcoming matches.

When the tournament started, a lot of people were convinced that KL Rahul will keep up with the form he maintained in the last IPL, where he was the highest run-getter. Even after his scintillating performance in the first match. Don’t you think people will continue to have faith in him?

There’s nothing wrong with having a little faith, but the scope for both teams and players going downhill is not unheard of and hence betting on RCB and KL Rahul in every match might not be the best approach.

Statistics Ticks All the Boxes: But not always

While Mumbai Indians have a dubious distinction of fairing poorly in their opening matches, they also hold the record for winning the IPL maximum number of times. 2016,2012,2011,2010,2009-These are the years in their 14 years span when Mumbai Indians had won their opening matches while in the rest of their years when they lost the opening match, they have won the IPL 5 times out of 9. It wouldn’t be unusual for them to win an opening match as well as the IPL in the upcoming years.

Last year Delhi Capitals beat Rajasthan Royals in both matches. But on a head-to-head footing, both have won the same number of matches when pitted against each other.

Pitch Report

English pitches offer good conditions for swing bowling in a test match. As the match proceeds, the cracks developed in the pitch make it better for spins bowlers.

Format Knowledge

Shorter the format, the more the big-hitting and more the number of sixes. While a test match is more about scoring more runs while preserving the wicket.

While the above factors are just among the few factors that need consideration, a proper analysis can yield the following benefits.

Betting gives you the chills and thrills

As a sports fan, the thrill of betting is something fans enjoy. So much so that it pushes fans to make riskier bets as you get better at it.

Enjoying the numbers games

Perusing the statistics of a team and its recent performances and conducting a detailed analysis can be a lot of fun, especially for those who enjoy statistics and enjoy cricket. It needs a lot of deep insights and correct execution of your cricketing knowledge.

Winning

Who can deny that they don’t enjoy winning? Part of the reason why people get hooked on betting is just the thought of winning big! It’s like asking,” Who here doesn’t want to be a winner?”

No takers, right? That’s because everyone wants to be a winner and betting gives you just that, no matter how big the win.

Pride and Prize

You must have seen a lot of people appearing in Ads especially after winning 1 crore in Dream 11.

A lot of these people get celebrated on social media accounts after winning big. They even get invited to a lot of events organized by betting companies. As you can see winning big helps you gain a lot of recognition too.

While there are good aspects to betting, there is no denying that there is a dark side to it too.

Where’s my money, honey?

Betting as an industry is worth half a trillion. This has been fuelled by people recklessly and dangerously wagering on different sports and events. Not just that, people spend more than they can afford. Being unpredictable as it is, it is a deadly alternate source of income. Hence, people should be careful with their money and set limits on how they are going to bet it on not just cricket, but any sport for that matter.

Pride? I have none!

Let’s say you have been a die-hard RCB fan since the beginning of IPL. Or let’s say you are a fan of AB De Villiers. Now in the fantasy league, you prepare a team that has AB De Villiers in almost every squad from the beginning of time. While being passionate about a club or player is understandable, you might end up losing tons of money on foolish bets. Your pride takes a hit when your favourite player or team doesn’t just underperform throughout the season, you also end up chasing unnecessary losses.

High On Gambling

The addiction of gambling is fairly common. You might have seen people get addicted to alcohol, drugs.

A lot of times people keep on trying to put loads of money into gambling hoping that,” If I win this, it’s going to be huge.” More often than not amateurs tend to make this mistake and end up losing more than they can afford.

FAQs on Betting

What is the minimum age required for betting in cricket?

A: 21 years

What platforms can I use for cricket betting?

A: Though there are no gambling laws to prohibit betting, there are fantasy sports platforms wherein you can make a lot of money. These include: Dream, Mobile Premier League, Paytm First Games

How to know if a site is safe?

A: There has to be both licensing and regulation in place. If neither of those is present then think twice before you proceed.

Any best tips?

A: Determine how risk-averse you are! Also, a detailed analysis of the game will go a long way.
Without any doubts, betting can be a great way to make money but needs to be done judiciously. With proper analysis and keen insights it can be an enjoyable experience. Not being careful with betting can bog you down with both financial and mental troubles.