Cricket Betting Terminology Explained (Glossary Post): A Simple Guide for New Bettors

Entering the world of online cricket betting is not only about knowing the cricket game, but it is also about knowing the words that are used in betting. To the novice and even the frequent bettor, it is quite significant to be familiar with the various cricket betting terminologies so as to make a better decision. This is a fundamental knowledge without which even a good bet can turn out to be bad since you did not understand it in full.

This glossary post dissects the most significant terms employed in Indian betting websites, IPL team betting applications, and others. These are not only reading terms, they make you smarter when betting, prevent errors, and think more clearly when making your bets.

Cricket Betting Glossary: Key Terms Explained

Accumulator (Parlay)

A type of bet that joins a few different picks into one big bet. You win only if all parts are correct. The more picks you add, the bigger the risk—but also the bigger the possible win.

Asian Handicap

A way of betting that removes the draw as an option, often used when one team is much stronger. It’s more common in football but is sometimes used in cricket too.

Bankroll

The total money you’ve set aside for betting. Managing your bankroll well is very important if you want to last long and not lose too much too fast.

Bet Builder

A tool on some Indian betting platforms that lets you make your own custom bet by picking different outcomes in one match—like a team to win, a player to score runs, and a certain number of sixes.

Bookmaker (Bookie)

The company or person who gives the odds, takes bets, and pays the winners. Bookmakers adjust odds so they always make a profit over time.

Chasing Losses

When a bettor keeps betting more after a loss, hoping to win back the lost money. This is usually a bad idea and leads to even bigger losses.

Cover Bet

A second bet is placed to lower the risk or make sure you don’t lose too much if your main bet goes wrong. This is often used in live betting when the game changes quickly.

Decimal Odds

The most common odds format on Indian betting sites. It shows how much you get back for every ₹1 you bet. For example, 2.50 odds mean you get ₹2.50 if you win.

Draw No Bet

A type of bet where you get your money back if the match ends in a draw. Useful in formats like Test matches where draws happen often.

Drift

When the odds for a team or player get longer (less likely to win) before the match starts. This can happen if news or betting trends lower people’s confidence in that pick.

Edge

The small advantage a bettor thinks they have over the bookmaker. This could come from better research, timing, or deeper knowledge. Having an edge helps in long-term cricket betting in India.

Exposure

The amount of money a bettor or bookmaker could lose on one bet. For a bettor, it means how much of your money is at risk.

Fixed Odds

Odds that stay the same once your bet is placed, even if they change later. Most pre-match bets use fixed odds.

Hedging

Placing another bet to protect your first bet. This can help lower the risk of losing money. Many people use this in in-play cricket betting, especially during close games.

In-Play Betting

Also called live betting, it means betting during the match while it’s still going on. The odds change quickly depending on what’s happening in the game.

Lay Bet

Mostly seen on betting exchanges, this is when you bet against something happening. For example, if you lay India, you win if India loses or the match is a draw.

Liquidity

The total money being bet in a market. More liquidity means it’s easier to place big bets without changing the odds too much.

Margin (Overround)

The small extra amount added to the odds by bookmakers to make sure they earn profit. Even when two teams are equal, the odds are slightly in the bookmaker’s favor.

Outright Bet

A bet on something big like who will win the full tournament—not just one match. For example, betting on the Cricket World Cup 2025 winner.

Over/Under Bet

A bet on whether something—like total runs or wickets—will be more (over) or less (under) than a given number. This is popular in T20 betting and other formats.

Stake

The amount of money you put on a bet. Keeping your stake steady and within limits is key to smart betting.

Value Bet

A bet where you think the real chance of winning is better than what the odds show. Finding value bets helps you win more in the long run.

Void Bet

A bet that is canceled, often due to weather or a game being called off. You get your money back in full.

Conclusion

The more you know in the online cricket betting world, the more you can make better decisions. The knowledge of the cricket betting terms does not only mean that you know what those words mean, it can also make you a smarter bettor, preventing you from making expensive mistakes, and feeling more confident.

This glossary post will be your shortcut to all the key terms. No matter whether you use IPL team betting apps, bet on Indian betting sites, or want to get ready in advance to the Cricket World Cup 2025, this list of words will assist you at every step.