Last updated on March 20th, 2024 at 02:52 pm
The 17th edition of the Indian Premier League cricket tournament – the world’s most popular and successful domestic cricket league, is starting soon, so if you’re looking for some useful IPL betting tips to place this year, you’ve come to the right place.
You can also learn more about India’s safest and most reliable online sports betting app, which is known for having some of the IPL’s most competitive odds. Let’s dive straight in to discover the latest 2024 IPL betting tips and find out why the official 10CRIC Sports betting site is India’s number-one iGaming site.
How to place more strategic bets on IPL cricket matches
While it’s not absolutely necessary to be an expert on the Indian Premier League, it does certainly help to have some kind of IPL knowledge or at least have a decent understanding of cricket and how betting odds and implied probability rates work.
Understanding these basic components can help you place more informed bets that have a much greater chance (but are still never guaranteed) of returning you a profit. For example, to lose fewer IPL bets, try to avoid placing bets on the underdogs/outsiders with poor odds and a low implied probability rate.
Although the profit margin may seem too tempting to resist, placing outsider bets like this very rarely win, so it’s best to avoid them and go with the favourites with higher implied probability rates. The profit margin may not be as great, but at least it’s a winning bet.
Betting on the 2024 IPL underdog odds this year would be putting your money on the least favourite team to win, the Delhi Capitals (DC), which is extremely risky.
Most ‘experts’ would tell you that a much safer bet would be to place a wager on the current reigning champions, CSK (Chennai Super Kings), and perhaps a side bet on the Gujarat Titans (GT) and/or Mumbai Indians (MI) – the two joint-second odds-on favourites behind CSK.
Five basic tips for betting on the IPL
- Understand what the odds and implied probability rate for each bet are trying to tell you about the event’s most likely outcome
- Avoid placing too many longshot/outsider bets with low IPRs (implied probability rates)
- Always conduct as much research into an event as possible and gather as much relevant data, facts, statistics and the latest news as possible to help you place more strategic bets
- Familiarise yourself with the many different bet types because you may find that you have a natural talent for placing certain types of bets
- Set a reasonable budget before you deposit and start placing bets, and never immediately chase any losses you incur
It can also help to do other simple things like finding out what the weather will be like on the day of the match and seeing how teams generally perform when faced with certain weather conditions.
Why is it important to remember these tips when betting on the IPL?
Remembering these important tips can potentially turn losing bets into winning bets. For example, when carrying out your research into a match, say the Gujarat Titans (GT) against the Chennai Super Kings (CSK), it helps to know the previous few results between the two teams (historical data) and the current form of both teams (for at least their past five matches).
Conducting your own research will tell you which players are in form, out of form or injured and which players have excellent records when playing certain teams. The more information you can gather before placing a bet, the more informed your bet will be when you go to place it. For example, when the two teams normally meet, is it evenly matched, or is it always one-sided?
Which team will most likely come out on top in 2024 and win the Indian Premier League?
As mentioned, the current reigning champions, CSK, would probably be the safer bet because they are the odds-on favourite to win IPL 2024 and become the first team to win the IPL on six separate occasions.
The least favourite are DC (the Delhi Capitals). Ten teams are competing in the 17th edition of the IPL, which looks set to get underway in late March.
Here are the latest average odds currently being offered by reputable Indian online bookmakers, such as the official 10CRIC Sports betting site. Try not to forget that the odds are subject to change at any time.
Included here are the three different odds formats (decimal, fractional, and American/moneyline) and the IPRs (implied probability rates) for each of the ten IPL teams:
- Chennai Super Kings – 5.47 (decimal), 19/1 (fractional), +475 (American/moneyline). IPR: 17.40%
- Gujarat Titans – 6.50 (decimal), 11/2 (fractional), +550 (American/moneyline). IPR: 15.40%
- Mumbai Indians – 6.50 (decimal), 11/2 (fractional), +550 (American/moneyline). IPR: 15.40%
- Lucknow Super Giants – 8.00 (decimal), 7/1 (fractional), +700 (American/moneyline). IPR: 12.50%
- Royal Challengers Bangalore – 8.50 (decimal), 15/2 (fractional), +750 (American/moneyline). IPR: 11.80%
- Rajasthan Royals – 9.00 (decimal), 8/1 (fractional), +800 (American/moneyline). IPR: 11.10%
- Sunrisers Hyderabad – 10.00 (decimal), 9/1 (fractional), +900 (American/moneyline). IPR: 10.00%
- Kolkata Knight Riders – 12.00 (decimal), 11/1 (fractional), +1100 (American/moneyline). IPR: 8.30%
- Punjab Kings – 12.00 (decimal), 11/1 (fractional), +1100 (American/moneyline). IPR: 8.30%
- Delhi Capitals – 13.00 (decimal), 12/1 (fractional), +1200 (American/moneyline). IPR: 7.70%
The problem with betting on the favourites is that, unless you bet relatively huge amounts, the profit margin is often quite small, so you have to either bet big to win bigger amounts, or bet smaller amounts and be patient with the smaller wins.
In other words, be prepared to take time to build up your bankroll with sensible winning bets and then gradually watch as your net winnings overtake your net losses.
Final note
When betting on the IPL or any other sporting event at a licensed and regulated Indian online sports betting site, such as 10CRIC Sports (10cr10.com), don’t ever treat placing sports bets as a job. Treat it as a fun way to pass the time, and never gamble while tired or intoxicated.
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