Despite cricket betting not being legal in India, many people bet in the gray market. Along with this, foreign online bookmakers are working legally in India, so the demand for online cricket betting is also increasing day by day. Along with this, the facility of online cricket betting is also being provided in the gray market / black market so that the Indian punters can bet and understand its terms easily.
If you are going to start cricket betting for the first time then it is very important for you to understand some basic terms. Here we bring you 10 popular terms of cricket betting. We are going to tell about ABCD Of Cricket Betting.
Popular Terms Of Cricket Betting | ABCD Of Cricket Betting:
When you start cricket betting, you will come across some such terms which are very important to understand. Because without understanding these terms it will be difficult for you to place bets. So let us tell you the popular terms of cricket betting:
What is a Bookmaker?
This term is more commonly known when it comes to online cricket betting in India. The company that provides the facility of betting is called a bookmaker. There can be two types of bookmakers: online bookmakers and Ground-based bookmakers. Online bookmakers offer all their facilities online, while ground-level bookmakers offer their facilities through betting stalls or regional offices. For example, Betway, Bet365, PariMatch, etc. are online bookmakers in India, while offline bookmakers are not allowed to operate here.
Read: How to do online cricket betting in India?
What is a bookie?
A person who organizes betting in the gray market of India is called a bookie. The job of the bookie is to accept the bets of the punters and make money transactions. However, foreign betting companies are also called bookies because they give you such facilities. Online betting company in foreign countries is called online bookie and those working offline are called just bookie.
Who is the Punter / Player / Bettor?
Any bookmaker or a person betting with a bookie is called a punter or a bettor. In India, the word punter or player is used for people placing bets, while in foreign countries the word bettor is used along with these words.
What are Favorite and non-favorites?
The team that is in a strong position before the start of any match or during the match is the favorite team, while the team in a weak position is the non-favorite team. The favorite and non-favorite teams can change according to the match situation.
Read: How does betting operate in the gray market of India?
What is Odds?
In any match, the Odds are decided according to the strong and weak team. Odds are given before the match, but after the toss, after the playing XI has been declared or the match prices keep changing according to the events taking place in the match. For example, before the start of the India Pakistan match, the price is 60-61 and India is the favorite.
But if Pakistan wins the toss and fields first, then this price can go up a bit. Along with this, if the Pakistan team takes 2 wickets in the first 10 overs and makes a stronghold in the match, then the sentiment may also change and Pakistan may become a favorite, and India may become a non-favorite. During online betting, there are decimal odds, that is, the price of 60-61 is shown as 1.60-1.61.
What are Khayi and Lagaai (Back & Lay)?
If you are going to do cricket betting then it is very important for you to understand, because the words Khayi and Lagaai (Back & Lay) are used again and again to place a bet in the match. The word Lagaai is used to place a bet on a favorite team and Khaayi is used to place a bet on a non-favorite team. Let us understand this through an example;
Suppose a match between India and Pakistan is going on in which India is the favorite and Pakistan is the non-favorite. In such a situation, if you want to bet on the favorite team India, then you have to back (Lagaana), whereas to bet on Pakistan’s victory, you will have to lay (Khana).
If you put ₹10,000 on a favorite team at a price (Odd) of 1.60 (60p) and that team loses the match you’ll lose ₹10,000, while you’ll get ₹6000 if you win but if you pay 1.60 (60p) ) for ₹ 10,000 and that team loses, you will lose ₹ 6000 while winning ₹ 10,000.
Read: 10 Golden Rules Of Cricket Betting
What is Loss Cut/Bookset?
Let’s say that the team on which you have placed a bet is on the verge of victory. Being in a strong position it is well-favored and if the price has come down significantly, the book is set to avoid any risk. Because in a cricket match, the situation can change at any time and the course of the match can change at any time.
In cricket, sometimes the non-favorite team has also been seen winning on 3 paise. That’s why if you are winning some confirmed amount on any team, then set the book immediately when the price comes down so that if for some reason the match reverses, you do not suffer any loss.
Suppose you have put ₹ 10,000 on a team at the rate of 80p and that team is winning a one-sided match, due to which the price has come down to around 20p, then immediately you should immediately ditch ₹ 10,000 on the non-favorite team.
That is, if the team that you bet on earlier wins the match, then you will make a profit of ₹ 6,000 and if the match suddenly turns around and the other team wins the match, then you will not suffer any loss. When setting up a book, always bet in excess of the amount you put in, so that you get profits from both sides. This process is called loss cut/book set.
Read: Why does a punter keep betting even when he loses?
What is Yes/Not in Session?
There are mainly 6 overs, 10 overs, 15 overs, and 20 overs sessions in any cricket match. The same sessions are operated on phone lines in India’s gray market. For example, in a match, the 6-over session is open 45-46 and you feel that 46 or more runs will be scored, then 46 yes will have to be done for this. After this, if 46 or more runs are scored, you will win this bet.
Apart from this, if you are thinking that less than 45 will be made, then for this you will have to do 45 not. In this case, if 45 or more runs are scored, you will lose the bet. During online betting, the term Back for Yes and Lay term for Not is used.
What are fancy bets?
If you are betting via phone in the gray market of India, you will not get to place fancy bets other than the session mentioned above. But during online betting, there are many fancy bets available in addition to the sessions, like how many runs will be scored in an over, how many runs will be scored in a given over, how many runs will the batsman score, how many runs will fall before or after the next wicket, Whether or not the next wicket will fall from the catch, how many runs the bowler will spend, etc.
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