With the legalization of sports betting in different parts of the world, the betting business is out of the shadows and has become an activity enjoyed by millions of people across the globe. While some bet their money for pure entertainment, others are very dedicated to their betting strategy, and put their time and effort into making regular profits.
Keep in mind betting on cricket is not just about strategies and luck. The majority of your earnings also depend on the kind of bookmaking platform you choose for yourself. The internet is full of frauds claiming to give the maximum possible results in no time. The offers might look attractive, but it is better to do your research on the top cricket betting sites beforehand than be a victim of internet fraud.
The list below discusses three essential tips to keep in mind before placing your next cricket bet. Let’s get started!
- BEWARE OF THE CONFORMATION BIAS IN CRICKET BETTING
The human brain often tries to simplify things for us. It does so by tricking our brain into willingly or unwillingly ignoring certain shreds of evidences important for making a logical conclusion. These biases are used by our brains as a rule of thumb for making quick decisions. It would be wrong to say that these biases always lead to poor decision-making, but they do interrupt your brain’s normal functioning by clouding your judgment.
For instance, if a person (let’s say Rahul) is a great admirer of Mahendra Singh Dhoni and decides to bet on an Indian Premier League match between Chennai Super Kings and Mumbai Indians. Now let’s assume due to some unfortunate event during CSK’s previous match, one of their star player gets injured and is not allowed to play for the next few matches. Even after knowing the negative impact of an injury on a team and the odds being in favor of Mumbai Indians, Rahul continues to go for Chennai Super Kings because Dhoni is a part of the team. He wagers for Chennai Super Kings not because their chances of winning are more than Mumbai Indians but because he does not want to see his favorite player lose.
The above example is of a cognitive bias, specifically a confirmation bias. When people seek information and data that confirms their pre-existing ideas and ignore any contrary data available to their belief, the bias is known as confirmation bias. Despite being aware of the high risks, Rahul convinces himself to bet on CSK. He willingly chose to ignore every other possibility because it did not match his trail of beliefs.
It is, therefore, advised to not make any betting decision solely on one factor. Cricket is a game full of uncertainties where different factors control the outcome of a match. One way to avoid confirmation bias is by being open to new ideas and information. Try to analyze different situations before dismissing any contrary possibility.
- NEVER TREAT BETTING LIKE LOTTERY
One of the major mistakes that punters do, especially beginners, is not setting their priorities straight from the start. Betting on cricket isn’t easy, as it is a game full of uncertainties and risks, and even people with years of experience are not sure of their moves either. Often people give in to their temptation to bet more than normal in the greed to earn bigger payouts. But they forget to distinguish earning money by betting from winning a lottery.
Sure, both have a similar overarching objective in the form of monetary rewards, and luck plays a significant role in both concepts, but one substantial difference between the two is the importance of skills. While winning a lottery is all about luck, betting, on the other hand, requires money-making skills.
You have to consider different factors, such as weather conditions, home-field advantage, the nature of the pitch, size of the ground, in addition to the players’ performances and their forms. Winning profits on bets is not all about luck. The sports betting industry is worth billions of dollars and is among the most successful industries globally. Nobody is going to hand you down a penny if you lose. So, choose your bets wisely, as betting on every single game doesn’t increase your chances of earning profits. You can only earn profits if you have the skills to win bets. Focus on learning about the industry first and throw out any misconceptions you have about betting.
- CHOOSE YOUR CRICKET FORMAT WISELY
With the evolution of cricket, organizers have introduced different formats of the game to make it even more interesting and attract new audiences. Back when the sport wasn’t as commercial as it is today, only two cricket formats, test and first class cricket were known. Today three formats of the sport are recognized internationally, T20 Internationals, One-Day Internationals, and Test Cricket. Although the basic concept of all of these formats is the same, there are distinctions in the total number of overs and the length of the match, etc.
For instance, the oldest format of the sport, test cricket, is the only internationally recognized format that is considered an unlimited overs match. Test cricket usually lasts up to five days, with each team playing more than one inning. Compare that to the shorter cricket formats, such as One-Day Internationals and T20 Internationals, where each team only plays for a single inning, and the matches get completed within a day.
Since the rules for these formats are different, you cannot expect one strategy to work for every single format. Some conditions are favorable for certain formats, while some are favorable for others. It is always advised to bet on shorter formats, such as T20 and ODI, before jumping on longer format matches. This is because test cricket is rather complicated, and betting on test matches demands more time and effort, as they last for more than a day. External factors such as weather conditions hold a lot more importance in test matches in comparison to T20 tournaments.
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