This study has investigated the semi-strong efficiency in cricket betting market namely for T20 matches. The results suggest that market updates its information quickly and incorporates any upcoming information into the odds. The results are consistent with studies of semi strong efficiency in sports about information efficiency in sports. It can be said that the betting market for T20 cricket is semi strong efficient as any new information is updated quickly into the odds. The chance for arbitration is very limited. The results suggest that outcome from the ball is the most important variable in analysing the payoff obtained by betting on any given ball. There were other variables also included like batsman’s strike rate of the batsman who is facing the ball, bowlers economy rate, over number and dummy variable wicket. Statistical results obtained through regression and correlation suggests that only outcome and wicket are the significant variables in predicting the payoff.