Why the same team is a different proposition in each format, and how variance changes across the three.
The three formats reward different skills and produce wildly different amounts of randomness. T20 is the shortest and by far the most variable: a single over can decide a match, and the better side loses far more often than in longer formats.
Test cricket sits at the other extreme. Five days give quality time to express itself, which makes results more predictable but also introduces the draw as a serious third outcome, and pitch deterioration as a factor with no equivalent in white-ball cricket.
ODIs sit between the two. For a bettor this hierarchy matters directly: favourite prices in T20 should be treated with far more scepticism than the same price in a Test, because the format itself is manufacturing upsets.
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