Cricket betting has its own vocabulary — terms that experienced bettors use naturally in conversation but that can leave newcomers genuinely confused. Some terms are shared with general betting language; others are specifically Indian cricket betting concepts that exist nowhere else in the global betting lexicon. This glossary covers them comprehensively.
Cricket-Specific Betting Terms
Session Market: A bet on the total runs scored in a defined period of a match — morning session in a Test, first six overs in a T20, a ten-over ODI block. Available extensively in the reddybook cricket section. Fancy Bet: Short-resolution, event-specific markets — how many runs in the next over, method of the next dismissal, which player scores the next boundary. These are uniquely Indian cricket betting products that don’t exist in most international markets. Lambi (Long): A bet on a team’s final total score rather than a session total. Khado: A bet type in matka contexts also applied to cricket meaning a non-repeating digit combination prediction.
Exchange Betting Terms
Back Bet: Betting that an outcome will happen — the standard bet type. Lay Bet: Betting that an outcome will not happen, acting as the bookmaker. Liability: The amount you stand to lose if a lay bet fails. Liquidity: The volume of money available to be matched in a market — higher in reddybook live IPL markets than in lower-profile events. Overround: The bookmaker’s built-in profit margin. On an exchange, commission replaces overround, giving you better prices. Green Book: A trading position where profit is locked in regardless of outcome — achieved through back and lay combinations.
Market Price Terms
Decimal Odds: The standard format on the readybook club platform — odds of 2.0 mean a Rs. 100 bet returns Rs. 200 (Rs. 100 profit plus stake). Implied Probability: The probability suggested by the decimal odds — calculated as 1 divided by the decimal odds. Value Bet: A bet where your assessed probability exceeds the implied probability in the market price. Edge: Your statistical advantage over the market — the difference between your true probability assessment and the market’s implied probability.
Bankroll Management Terms
Bankroll: The total funds set aside exclusively for betting. Stake: The amount wagered on a single bet. Unit: A standardised bet size, typically 1-2% of bankroll. ROI (Return on Investment): Net profit as a percentage of total stakes — the standard measure of long-term betting performance on reddybook io. Drawdown: A period where your bankroll falls from its recent peak — normal for all bettors and not necessarily a sign of analytical failure.
Match and Tournament Terms
Toss Market: A bet on which team wins the pre-match coin toss. DLS (Duckworth-Lewis-Stern): The mathematical method for calculating revised targets in rain-affected limited-overs matches. Power Play: The first six overs of an innings with field restrictions — generates specific betting markets on reddy anna. Death Overs: Overs 16-20 of a T20 innings. Middle Overs: Overs 7-15. Each phase has specific session market characteristics.
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