While in India it is still illegal to bet on cricket, in almost all other countries it's legal, and the market is growing fast. The overall size of sports betting market is estimated to be worth around 4 trillion dollars. According to estimations, tennis and cricket together might account for around 12 per cent of it.

While betting on basketball and football remains very popular, cricket betting market seems to be growing faster now, with the number of fans of the sports growing daily bases. The betting market in general can be considered gambling in huge part, but some say that betting on cricket might not be so much of a gamble, IF you know about the market enough, if you are capable and willing to involve yourself in in-depth studies of the performance of the players and teams. All of which can be monitored easily enough through one or another source somewhere around the globe.

If you are new to sports betting and more specifically cricket, there are thousands of sources offering you free information, free tips on how to start, how to bet, where to find the information and so ont. As a most general tip, there are two main ways to go with for to get the best potential results. One is, as mentioned, to actually follow cricket, to learn about the players, teams, the stats, historic results, and so on. Nothing compares to having good knowledge of the field you're playing. The other option is to play the odds. Which in most simplistic terms means that you should be following the odds for different games on a number of different betting websites and compare their odds for the same games. If on one website the odds for something are higher on something than on all of the other ones, you could assume that there might be something off, and it might be beneficial to bet on that game on that website, as even if you lose, in the long run, it might pay off well.

But if you're really into it, but just new to it all, you should definitely start with familiarizing yourself with the game, and the rules first, as the game involved many nuances, all of which can influence the outcome of the match a lot. You should learn about the different formats (there are five main ones), the players, and in which formats they are playing in. As, compared to something like football, in cricket it is very possible possible that some player is a top player in one format and a nobody in another format.

The main formats are:
1) Five-day Test Matches.
2) Four-day matches between English counties.
3) Fifty-over per side matches.
4) Forty-over per side matches between English counties in the CB40 Trophy.
5) Twenty-over per side matches.