Betting on the IPL 2023

Introduction to the IPL

The IPL was the brainchild of the BCCI, which was looking at ways to make cricket more interesting for the younger generation. The viewership for the 50-over format was on the decline and the board was looking at ways to give the audience a bigger rush of adrenaline packed along with glitz and entertainment. The T20 format was the perfect way to deliver exciting and fast-paced cricketing action and this led to the inception of the IPL.

The BCCI utilized the North American Sports Franchise system to form 8 teams. The concept generated immediate interest from India’s biggest business houses and film superstars, who lapped up the teams, and thus the inaugural season of the IPL was played in 2008. Over the years, the IPL has grown in popularity as well as size, and there are now 10 teams competing for the ultimate prize.

Explaining the format of the IPL

Game rules

The rules of an IPL game are pretty similar to that of a regular T20 match. Both teams play a maximum of 20 overs per innings, with the team which has the higher number of runs at the end of the 2^nd innings being declared as the winner. However, in a slight deviation, there are two `strategic time-outs’ during each inning, where the teams can regroup and tweak their strategies for the game. The bowling team can take a timeout between the end of the 6^th and the 9^th over, while the batting team can take a timeout between the end of the 13^th and 16^th overs.

There is also an ‘impact player’ being introduced from IPL 2023. This basically means that teams can substitute one player during the match and improve their balance on the go.

Tournament format

10 teams will compete against each other to advance through the various stages of the tournament and try to win the trophy after a grueling battle.

The two teams will be divided into two groups of 5 teams each. Each team will face the other 4 teams in their group once, and the 5 teams from the opposite group twice, in a home and away format, for a total of 14 matches in the group stage. The winner of a match is awarded 2 points, while the loser gets no points.

In case of no result, both teams are awarded 1 point each. At the end of the 14 matches in the group stage, the top 2 teams will face each other in Qualifier 1, while the 3^rd and 4^th ranked teams will play in an Eliminator. The winner of Qualifier 1 directly advances to the Finals, while the loser in Qualifier 1 will face the winner of the Eliminator in Qualifier 2, the winner of which will reach the Finals.

After three years of altered formats, IPL 2023 returns to the classical home and away format where each team can tailor its home conditions to suit its strength. We think this is going to IPL 2023 even more closely contested.

Why is the IPL so popular?

Over the years, the IPL has built a huge base of fans who are fiercely loyal to their teams. Thousands of fans throng the stadium during each match to cheer their team and enjoy 3 hours of unabashed fun and entertainment. There are millions more who watch the matches in sports bars and restaurants, while several die-hard fans organize parties at home and invite family and friends to watch their favorite team play.

In a nation obsessed with cricket, the IPL captures the imagination of even the mildly interested  viewer for two months. No other event comes close.

Over the seasons, the IPL has produced many close matches which go down right to the final delivery of the match, while many games have ended in a tie, only to be settled by a Super Over. The fans enjoy the rush of adrenaline when their favorite team beat arch-rivals in a nail-biting contest, or when their favorite batsman clobbers the opposition bowling attack all around the stadium.

This fusion of entertainment and sport has contributed immensely to the popularity of the IPL.

How many people bet on the IPL?

While there are no exact statistics available for betting in India, surveys conducted by private research firms estimate there are close to 140 million individuals who bet regularly on sports. This number shoots up to close to 400 million active bettors during each season of the IPL. Of the 400 million, conservative estimates say that almost 80%, i.e. 320 million people bet on the IPL.

How can you bet on the IPL?

The answer to this question varies according to the region where you reside. In most European countries and many states in the USA, betting is considered legal and one can walk into any of the thousands of bookie shops to place their wagers.

However, certain Asian countries, including India, have strict laws to control betting on various sports, including cricket. Until recently, punters had to depend on an unofficial network of bookmakers to place bets, often with no safety of their wagers or returns.

However, they now have the option to place bets online, thanks to the availability of various international betting sites and apps in India. Since these entities are based outside India, the Indian laws do not apply to them and one can legally place wagers on them. These sites are regulated by Gaming Commissions and independent regulatory authorities, making them a much safer option to place bets.

Some of the most popular IPL betting sites available in India include Betway, Bet365, 1xbet, and Parimatch. You can easily create an account using their website or by installing the app on their mobile devices.

Typical bets for the IPL

There are many ways in which you can bet on the IPL 2023. Let’s have a look at some of the most popular ways in which you can place your bets.

Pre-match bets: These types of bets are typically placed before a game begins and you cannot make any changes to them once the match is underway. Some of the most popular Pre-match bets include:

Winner of the toss: Predict which team will win the toss

Top batsman of the match: Predict which batsman from either team will emerge as the top-performing batsman at the end of the match.

Top bowler of the match: Predict which bowler from either team will emerge as the top-performing bowler at the end of the match.

The number of boundaries/sixes during a match: The total number of 4’s and 6’s hit during the entire duration of the match.

Over/Under bets: Let us understand this type of bet with the help of an example.

If the Over/Under for the total score of Virat Kohli in a match against the Chennai Super Kings is set at 22.5, then you can place a bet on whether Kohli will score 22 runs or less in that match, or if he will score 23 runs or more. If you are going for the former, it is known as an `Under´ bet, while if you think that the latter is more likely to happen, you can place an `Over´ bet.

In-play bets: The widespread availability of online betting sites has given rise to a new type of betting style called in-play betting or live betting. This is a dynamic form of betting in which punters can place bets on events that are likely to occur over the next few deliveries or overs. Some popular categories in in-play betting include

Fall of next wicket: Here, one can predict in what way will the next dismissal occur. Whether the batsman will get bowled, caught out, run out, or dismissed LBW.

Next over runs: Punters can predict how many runs will be scored in the next over.

Number of runs scored in the next delivery: This is a similar betting market but one where you predict what is going to happen on the next delivery. Keep in mind that you can usually only bet on a delivery that is at least two away from where the match is now. For example: If the match is currently at 1.2 overs, you can only place a bet for what happens at 1.5 overs (two deliveries after).

The popularity of in-play betting has skyrocketed in the last few years as the odds change rapidly and punters can make quick bucks if the result matches their prediction. The fast-paced nature of IPL matches makes them a perfect event for live or in-play betting, as a single shot, or a single wicket can shift the momentum of the match.

Accumulator bets

Experienced punters or punters who are confident regarding their predictions often opt for Accumulator or Acca bets. Rather than betting on the outcome of a single event, it is a combination of several bets bundled into one and offers significantly higher returns compared to regular or `single´ bets.

Conclusion

While the IPL is an excellent product by itself, the rising popularity of online betting has fuelled the excitement with each passing season. By placing wagers on various IPL betting sites, the fans can add another layer of excitement and suspense to each match, and they feel more invested in the eventual outcome of the match.