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T20 World Cup on KhelKing: markets and betting habits
T20 World Cup betting on KhelKing without fake tips: outrights against match markets, rain rules, back and lay timing, and stake limits for weeks of cricket.
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Odds explained
How bookmakers make money
The margin hiding in every price, and how to find it.
Every bookmaker price carries a small extra that pays the house over time. This guide shows how to measure it with two lines of maths, how exchange commission compares, and why busy markets cost you less.
Updated · 6 min read
At a glance
Key takeaways
- Two prices of 1.91 imply 52.4% each, or 104.7% together, so the bookmaker's overround is 4.7%.
- To find a market's overround, add 1 divided by each price and subtract 100%.
- Dividing each implied chance by the market total gives fair odds, so 1.91 on both sides becomes 2.00.
- Exchange prices often sit close to 100%, and the exchange charges a commission on net winnings instead.
01In brief
How do bookmakers make money?
Bookmakers make money by setting odds whose implied chances add up to more than 100%. The extra, called the overround or margin, means the book keeps a share of the money staked whatever the result. On a two-way market priced at 1.91 each side, the implied chances total 104.7%. Exchanges charge a commission on winnings instead.
02Overround
What does the overround actually mean?
If the real chances of every outcome add up to 100%, prices that add up to more are paying you less than the real chance deserves. Spread over thousands of bets, that gap is the bookmaker's income. Two worked examples:
| Market | Prices | Implied chances | Total | Kept from stakes |
|---|---|---|---|---|
| Cricket match odds, two-way | 1.91 · 1.91 | 52.4% + 52.4% | 104.7% | about 4.5% |
| Football match result, three-way | 2.50 · 3.20 · 2.90 | 40.0% + 31.3% + 34.5% | 105.7% | about 5.4% |
The overround and the share kept aren't quite the same number. A book of 104.7% keeps 1 − 1 ÷ 1.047 of the money staked, which is about 4.5%, if bets come in evenly on both sides.
03Calculator
How do you work out the margin on any market?
Type in the prices for every outcome. The calculator adds up the implied chances, shows how much of the money staked the book keeps, and works out the fair odds with the margin taken out.
Fair odds come from sharing the total back across the outcomes. At 1.91 on both sides, each implied 52.4% becomes 50% once you divide by 104.7%, which is fair odds of 2.00.
Margin calculator
- Book total
- 104.7%
- Kept from stakes
- 4.5%
| Outcome | Implied | Fair odds |
|---|---|---|
| Outcome A | 52.4% | 2.00 |
| Outcome B | 52.4% | 2.00 |
This market's prices add up to 104.7%. Fair odds strip that out by sharing the total back across the outcomes.
04Exchange
How is exchange pricing different from a bookmaker's?
On an exchange like KhelKing, prices come from players offering and taking bets with each other. The exchange earns through a commission on your net winnings in a market, so a busy market's prices can sit very close to 100%.
| Point | Bookmaker | Exchange |
|---|---|---|
| Who you bet against | The bookmaker | Other players |
| Where the house earns | A margin built into every price | A commission on your net winnings in a market |
| What you pay when you lose | Your stake, at prices that already include the margin | Your stake. Commission applies to winnings only |
| Betting against an outcome | Usually not possible | Yes, by laying it |
Comparing prices with commission
Take the commission off the profit part of the odds. With an example rate of 2%, exchange odds of 2.00 are worth 1 + (1.00 × 0.98) = 1.98 to you. That still beats a bookmaker's 1.91 on the same outcome.
2% is an example only. Ask support for KhelKing's current commission terms.
05Checklist
How do you spot an expensive market?
Five checks that take less time than filling in a bet slip.
- 01
Convert each price
Divide 1 by the decimal odds of every outcome in the market. 1.91 becomes 52.4%, 3.20 becomes 31.3%.
- 02
Add them up
The total is the book. A fair book would be exactly 100%.
- 03
Read the margin
Take 100 away from the total to get the overround. As a rough guide, a two-way market a few points over 100% is tight, and a three-way market well past 110% is expensive.
- 04
Allow for commission
On an exchange, take the commission off your profit before you compare its price with a bookmaker's.
- 05
Compare before you bet
If two markets ask a similar question, the one with the smaller margin gives you more back for the same stake over time.
06Busy markets
Why are margins smaller on busy markets?
More money, more competition
On a big IPL match, many players are offering prices on both sides. Each one has to beat the last to get matched, which squeezes the gap.
Fewer outcomes, less room
A margin gets spread across every outcome. A two-way market has two prices to pad, while a correct-score market can have dozens.
A smaller margin gives you more back for the same stake over many bets. It doesn't make any single bet more likely to win.
Related reading
07FAQ
Questions about bookmaker margins
Can't find your answer? Our support team is online 24/7.
01How do bookmakers make money?
Bookmakers make money by setting odds whose implied chances add up to more than 100%. The extra, called the overround or margin, means the book keeps a share of the money staked whatever the result. On a two-way market priced at 1.91 each side, the implied chances total 104.7%. Exchanges charge a commission on winnings instead.
02What is the overround?
It's how far a market's implied chances add up past 100%. Two prices of 1.91 imply 52.4% each, or 104.7% together, so the overround is 4.7%. It's the bookmaker's built-in edge.
03How do I work out a bookmaker's margin myself?
Divide 1 by the decimal odds of each outcome, add the results and take away 100%. The closer the total is to 100%, the tighter the market.
04What are the fair odds without the margin?
Divide each implied chance by the market total, then turn it back into odds. At 1.91 on both sides, 52.4% divided by 104.7% is 50%, which is fair odds of 2.00.
05Do exchanges have a margin too?
Exchange prices come from players, so they often sit close to 100%. The exchange earns through a commission on net winnings in a market instead. Take it off your profit when you compare prices.
06Does knowing the margin help me win?
It can't guarantee a win on any bet. It helps you see what a market costs and pick the cheaper of two similar markets, which matters over many bets.
Betting involves financial risk. Only stake money you can afford to lose. 18+ only.
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