Betfair Review – Cricket Betting Tips, Markets, and Reasons to Join
Based in the U.K., Betfair is the world’s largest betting exchange site and among the oldest, boasting close to two decades in the industry. Besides providing betting exchange services, the company offers fixed odds betting in its sportsbook section, virtual sports, and online casino games such as poker, and bingo. It’s owned and managed by Paddy Power Betfair PLC whose headquarters are in West London.
Unlike traditional gambling sites, Betfair gives users a platform to trade odds through bets matching; it then charges a commission for the service. This way, the site is able to offer better odds as market prices are primarily determined by the customers. It’s, therefore, no wonder that more punters, especially those betting on games like cricket, are turning to exchanges at the expense of traditional bookies.
How to bet on cricket on Betfair
Cricket games are most popular in Australia, India, and the UK where most major events are held. The usually action-packed sport is also loved by many punters perhaps due to the lots of betting markets it comes with. For example, you can stake your money on match handicaps, most sixes, and top batsman among many other fascinating markets.
Moreover, there’s never a shortage of events all year round and this includes top international competitions such as The Ashes, ICC Champions Trophy, The ICC World Cup, and the ICC World Twenty20. And if you’re interested in betting on domestic tournaments, popular ones like The Big Bash and The Sheffield Shield will suffice.
Cricket betting is available on Betfair, both its sportsbook and the exchange. Find more than 50 bets on various ongoing tournaments here with different betting markets up for selection.
Cricket betting at the Betfair’s exchange
When betting on cricket at this section, Betfair allows you to match a bet set by other players or set the odds yourself for others to match the bet. The site displays the betting odds in decimals which are considerably easier to comprehend. The decimal figures represent the amount you’ll potentially win when your cricket bet is successful.
Take a look at this example:
Suppose India is playing Afghanistan and a Betfair customer offers odds of 3.6; the maximum payout for that bet is that decimal number multiplied by the amount that you staked while matching his bet. So, if for example, you commit $10 for India to win and they do, the payout will be $36. This amount includes your initial bet and thus places the profit at $26. It helps to note that punters using the exchange can also request the specific cricket odds they want so that clients posing as bookmakers can provide them.
Interestingly, Betfair betting exchange displays odds by both layers and backers which are shown in blue and pink colours respectively. To clarify the terms, backers are punters that believe a particular opponent will win a match while layers are those betting against an outcome or those that believe a team will lose a match.
Want to bet on cricket at Betfair betting exchange? Below are a few simple procedures you need to follow for a smooth experience:
- Visit the cricket page on Betfair website; you’ll see various cricket events that are available for you to bet on.
- Select an event and check out the available markets, prices of odds, and other competition details.
- Every market shows recently matched prices which are categorized in back or lay menus. Click on the odds displayed there to prompt open a pop-up betting slip window that will allow you to adjust or confirm the odds.
- Note: if you adjust the odds, another client will have to match the price you’re offering to complete the bet.
- View history of the bets you’ve placed on various cricket betting markets to see which of your stakes are unmatched. If needed, consider adjusting your prices accordingly.
- Betting on the Betfair’s sportsbook
Unlike the exchange, Betfair is the bookmaker here and therefore the company is responsible for offering odds to use for your wagers. Find fixed odds for various events as well as information on when exactly these events start.
To place a bet, you simply need to click on the odds and specify the amount you want to stake. If the bet is successful, the payout given is the decimal number multiplied by the amount that you wagered.
Betfair supports both pre-match and live betting and this means you have access to a wide range of markets. The minimum amount for any given wager on cricket is $2; this is quite fair especially for beginners that wish to begin small and risk less as they learn the ropes. The platform has no limit on the number of times you can bet on the sportsbook section as long as there are matches listed there. Also, you can switch the default language which is English to one of your preference.
Cricket betting markets
As aforementioned, Betfair offers tens of betting markets for most of its cricket events. For example, during most ordinary matches, there are prices for the top scorer, total sixes, total fours, under/over bets on the highest score, and the highest partnership. Also, there are markets that offer match bets for players especially when two batsmen are going head to head. All tournaments feature markets for group stage winners, team scores, highest rated individual, and yes or no bets for double century events.
Fans of live betting will also be happy to see the numerous markets open for them at Betfair. Some of the most notable ones include top tournament run-scorer, outright bet, partnership, and total sixes. Worth noting however, is that the odds for these markets are ever-changing, so you might need to refresh the page regularly for best offers.
Why Betfair is suitable for cricket punters
Numerous banking options
Besides accepting all major currencies, Betfair offers a lot of options to use whenever depositing or withdrawing money. For deposits, you can use credit cards, PayPal, Skrill, Western Union, Neteller, Click and Buy, or authorize a bank transfer. On the other hand, the site supports Entropay, WebMoney, PayPal, Skrill, bank transfer, and credit cards for withdrawals. All these methods are safe, reliable, and available in nearly all geographical regions around the world.
Notably, Betfair has a closed loop policy which ensures withdrawn funds are first sent to the exact channel that was used to deposit. To put this into perspective, if you deposited $30 using PayPal and you withdraw $50, $30 will go to PayPal while the rest to the channel that you’ve specified for withdrawals.
Versatile betting platform
Betfair’s website is fully responsive and can therefore easily be accessed from both desktops and mobile devices. Enjoy highly interactive interfaces on your preferred device and calculate probable wins, adjust odds, use in-play markets, etc.
Users browsing the site on mobile devices can also download mobile applications which are available on Android and iOS app markets.
Betfair also offers real-time chats and user discussions on its site in a forum-like page. This can prove handy when researching on upcoming cricket tournaments, opinions on certain players, and the probable winners.
Doubles up as an exchange and a sportsbook
Betfair offers both betting exchange and bookmaking services. As such, you’re certain of finding a vast array of betting options any time you need to place your wagers.
The betting exchange offers a peer-to-peer platform where you can sell or buy odds based on your predictions and budget. The usually higher odds means you’re likely to score big playing here.
On the other hand, the sportsbook is a great option for cricket fans who bet primarily for entertainment purposes and not necessarily to make a living gambling.
Wide range of cricket competitions
Betfair features almost all the major cricket events that are ongoing around the world at any given time. Whether you want to wager on The Ashes, Twenty20 Big Bash, IPL, One Day Internationals, or ICC Cricket World Cup, you can be sure to find all these are on the platform. Besides, it offers in-play betting and pre-match betting all with lots of markets on which you can place your wagers.
Betfair is an excellent betting platform for anyone serious about cricket betting. The site offers traditional bookmaking as well as betting exchange services for those that fancy odds trading. Explore the hundreds of lucrative cricket betting opportunities here and make lots of money doing what you love most.
Our experts at Betopin have conducted extensive research on crucial aspects like security and fairness – like we always do with all other betting sites. We can confidently recommend Betfair as a professional platform that honors its word when it comes to making payouts. Also, the company has put in place some of the most secure systems you’ll find on the web to safeguard any data that you share with them. To this end therefore, don’t hesitate to place your cricket wagers and best of luck while at it!