IPL 2024: The Indian Premier League (IPL) cricket competition, also known as IPL 17 because it’s the seventeenth edition since the league formed, or TATA IPL for sponsorship reasons, is now well underway.

The opening game of the season for the Chennai Super Kings (CSK) was on Friday, March 22 2024. The current reigning champions got off to a flying start, beating the Royal Challengers Bangalore by 6 wickets with 8 balls left (176/4 – 173/6).

The question being asked here is whether CSK is ready to reclaim their IPL title or if it is still too early to tell. Let’s take a closer look right here.

Can the Chennai Super Kings win back-to-back IPL titles?

The quickest and most reliable way for anyone to find out if CSK can win back-to-back IPL titles would be to turn to today’s most trusted online bookmakers to find out what kind of prices (betting odds) they are currently offering for the IPL outright winner betting market.

If, for example, you want to bet on cricket in South Africa, the most trusted iGaming website you can count on for competitive IPL betting odds is the globally renowned 10bet online bookmaker. They have hundreds of monthly IPL cricket betting markets and are well-known for their excellent odds.

Before the season started, 10bet, like most other bookies, had CSK as the odds-on favourite to win the 2024 IPL competition outright. They were priced at around 5.75 in the decimal odds format, which is the same as saying 19/4 in fractional odds and +475 in American/moneyline odds.

It also meant that CSK had a 17.40% chance (implied probability rate) of winning – and that, don’t forget, was before the season even started. After winning their first game against RCB on March 22, their odds shot up slightly.

They are still the odds-on favourite team to win the IPL outright this year, but you are now looking at average odds of around 15/4 (4.75 or +375), which means they have a 21.20% chance of winning.

In other words, if they keep on winning, the odds will keep on going down. This means you will get less of a return if you decide to bet on them, and they go on to win the 2024 IPL competition outright.

Therefore, it might be better to wager on them sooner rather than later while the odds are still good, especially if you’re confident that they will win.

However, the thing to remember about sports betting on any event is that you are not always guaranteed to win just because you bet on the favourites.

Most of the time, the odds-on favourite(s) do end up winning. However, any other team can easily upset the odds, including the least favourite (aka the underdog or outsider).

Both the Chennai Super Kings and the Mumbai Indians have won the IPL title on five separate occasions. Both teams will be looking to win the sixth title this year, which no other IPL cricket team has ever done.

What are the odds for the top three favourites to win the 2024 IPL outright currently looking like?

As mentioned, at the time of writing, CSK are the odds-on favourite to win the IPL outright, followed by the Mumbai Indians (second odds-on favourite).

You then have the Kolkata Knight Riders (KKR), Rajasthan Royals (RR), and Royal Challengers Bangalore (RCB), all jointly priced as the third odds-on favourites. The following odds are accurate at the time of writing but are likely to change significantly over the coming weeks.

If you want to bet right on a team to win the 2024 Indian Premier League, you will be looking at the following average odds:

  • Team: Chennai Super Kings (CKS). Odds of winning the 2024 IPL outright: 4.75 (decimal), 15/4 (fractional), +375 (American/moneyline) IPR (implied probability rate): 21.20%
  • Team: Mumbai Indians (MI). Odds of winning the 2024 IPL outright: 5.50 (decimal), 9/2 (fractional), +450 (American/moneyline) IPR: 18.20%
  • Team: Kolkata Knight Riders (KKR). Odds of winning the 2024 IPL outright: 7.50 (decimal), 13/2 (fractional), +650 (American/moneyline) IPR: 13.30%
  • Team: Rajasthan Royals (RR). Odds of winning the 2024 IPL outright: 7.50 (decimal), 13/2 (fractional), +650 (American/moneyline) IPR: 13.30%Team: Royal Challengers Bangalore (RCB). Odds of winning the 2024 IPL outright: 7.50 (decimal), 13/2 (fractional), +650 (American/moneyline) IPR: 13.30%

Final note

It’s still far too early to say who might win the world’s most-watched domestic cricket league. However, most experts and cricket fans worldwide think that CSK can make history by becoming the first team to win the IPL six times.

Others aren’t too convinced and believe the Mumbai Indians will spoil CSK’s party and clinch their sixth title instead. We will just have to wait and see.

The final match of the season is scheduled for May 26 at the MA Chidambaram Stadium (also known as the Chepauk Stadium), which is in Chennai, Tamil Nadu.