Spread betting differs from fixed-odds wagering and operates in a similar way to a stock exchange. Rather than bets being settled in a traditional win/lose manner, profits and losses are impacted by the final scoreline, compared to the original line. New to cricket spread betting?
Fear not, with our expert guide explaining everything that there is to know. This will include calculating payouts, winning strategies and useful tips. How can you boost your chances of placing successful spread bets on cricket games? Let’s take a closer look.
Cricket Spread Betting Explained: Best Markets
In most cases, bookmakers will establish a specific line on a potential outcome. An example is the total runs of a particular batsman being between 33-36. In this case, you will “sell” if you believe that the player in question will score fewer runs than this.
However, if you think that the player will hit a greater number of runs than this, you will “buy”. Things do get a little bit more complicated, though. This is because your potential payout is determined by the exact number of runs that the player scores.
Using our example, each run above or below the line is worth +1x or -1x your stake. Placing a cricket spread bet can be done on several alternative markets, the most popular of which we have outlined below:
⏩ Batsmen Runs - Betting on the total number of runs scored by an individual player.
⏩ Team Runs - The total number of runs scored by a team in a single innings.
⏩ First 6/15 Over Runs - How many runs a team will score in the first 6 or 15 overs. Options available will depend on the format of the game, ie. T20, One Day or Test.
⏩ Session Runs - Cricket matches are broken down into sessions. In Test matches, this is likely to be morning, afternoon and evening. Here, you are betting on the total runs scored in a particular session.
⏩ Fall of Next Wicket - The total number of runs a team will score before they lose their next wicket.
⏩ Bowler Performance - Available on selected cricket games, you can bet on the performance of a particular bowler. Points are awarded for each wicket taken.
⏩ Series Wickets - How many wickets will a particular player take during a cricket series.
⏩ 25:10 Index - In spread betting, the winning cricket team receives 25 points, while the loser earns 0.
⏩ Outright Index - A bet placed on the performance of a team at a major cricket tournament, such as the T20 World Cup.
How to Calculate Profits/Losses [With Examples]
You may still be wondering how to calculate payouts from spread betting in cricket. The easiest way to explain is to look at some examples. Below, we have provided four examples of cricket spread bets, two that were successful and two that lost.
IPL Winning Example:
Ahead of the IPL game between the Rajasthan Royals and Chennai Super Kings, you place a bet on a “wickets” cricket betting market. The spread quotes the Super Kings losing their first wicket at between 21-25 runs. You “Buy” £/€2 at 25 runs. When the game starts, Chennai lose their first wicket at 30 runs. Your profit is calculated using the formula (30-25) x £/€2 = £/€10.
World Cup Winning Example:
Ahead of the ODI World Cup, spreads are available on the total number of runs that Virat Kohli will score during the tournament. You can sell at 200 and buy at 220. Let’s say that you sell at 200 for £/€2. In the event that Kohli scores just 100 runs, you will make a profit of £/€200 (200-100) x2.
Ashes Series Losing Example:
Returning to the “wickets” spread from earlier, let’s suggest that “buy” at £/€5 for England to take their first wicket at 39 runs. However, England actually struck early and took a wicket after just 4 runs. You will incur a loss of $/€70, using the equation (4-39) x $/€5.
Caribbean Premier League Losing Example:
Based on a match between the Barbados Royals and Saint Lucia Kings, you believe that the Kings will lose their opening wicket between 28-32 runs. As such, you choose to “sell” $/€5 at 28 runs. However, the Kings actually lost their first wicket after 50 runs. In this case, you would lose £/€110, based on the formula (28-50) x £/€5.
How to Form a Cricket Spread Betting Strategy
There are some steps that you can take in order to boost your chances when partaking in cricket spread betting. Before we take a look at our top tips, the following are our favourite bookies for this form of wagering:
Look for Pitch/Weather Conditions
Arguably more so than most other sports, the weather conditions have a major impact on cricket games. Of course, play will be stopped should there be a heavy downpour. However, the conditions before and during a match can affect how easily bowlers and batsmen find their top form.
For example, bowlers often enjoy overcast conditions, as it will be easier for them to swing and spin the ball. In comparison, batsmen will likely feel most comfortable when there are clear skies. Hot conditions can quickly dry out the pitch, too. So, consider which team/players will be better suited to the wicket and conditions in question when partaking in cricket spread betting.
Examine Recent Form and Batsman Ratings
Considering the recent form of the teams and players involved is also important. This includes the win/loss record for teams, as well as the performances with the bat and ball of players. You can look at the ICC rankings, which will give you a good idea of who the top teams are.
Similarly, you can look at the ratings of bowlers, batters and all-rounders, which are based on runs scored, wickets taken and other factors. Looking at an example from the IPL, during the 2023 competition, Jos Butler smashed 863 runs from 17 innings for the Rajasthan Royals, giving him an average of 57.53. Such statistics could well benefit your betting.
Keep your Cricket Stakes Small
Regardless of your cricket spread betting strategy, it is recommended that you wager relatively small amounts. This is because the stakes can quickly grow the more you bet. Keep an eye on the amount bet per unit since profits and losses are calculated using the difference between the opening and closing price.
Here is an example that demonstrates how this works. You place a £/€2 bet and see it move 60 points in your favour; you will earn a profit of £/€120 (£/€2 x 60). However, in the event that your prediction is inaccurate and moves 60 points against you, you will lose £/€120.
Find the Best Cricket Spread Betting Sites
Compared to fixed odds cricket betting, the number of sites offering spread betting options is relatively small. However, it is still worth shopping around in order to find the best operator for you.
When making your decision, be sure to consider cricket coverage, available markets, bonuses, payment methods and mobile access. Below, we have provided a list of our favourite cricket bookmakers:
Are There Any Betting Alternatives?
Absolutely. Spread betting is not a widespread type of wager. As you can see, the number of bookmakers that offer it is limited. This is why, sometimes, you should consider sticking to the traditional options like the ones below:
Cricket spread betting is an alternative to traditional fixed odds wagering that resembles a stock exchange. You “buy” and “sell” prices, based on what you think the outcome will be. Only available on selected sites, this form of betting on cricket comes with large potential rewards. However, you will need a significant budget.
When partaking in spread betting on cricket, your profits will be calculated by multiplying your stake by the difference between the opening and closing odds. Be sure to fully understand how spread betting works before getting started.
While being risky, spread betting can certainly be profitable for those with a good knowledge of cricket. You can bet on both rising and falling markets, with those who have an effective strategy reaping the rewards.
Unfortunately not. The majority of online bookies do not offer spread betting. In fact, it is only a select few sites that feature this form of cricket wagering. We have outlined some of the best on this page, such as Baji.
There are a number of factors to consider when forming your strategy for spread betting on cricket. We have outlined some of the steps to take on this page, which include looking at the weather conditions, team/player form and sticking to a budget.