What Is Fixed-Odds Betting: Beginner’s Guide

by D. Djokic  ·  April 19, 2021

The holy grail of betting is finding the most profitable odds and taking advantage of the opportunity. Yet, this can be easier said than done, especially if you don’t have a deep understanding of how odds work. For instance, many punters don’t know what is fixed-odds betting, even if they use it daily. That’s the reason we prepared this comprehensive overview of fixed-odds betting.

Here’s everything you need to know about fixed odds to make serious profit.

The Six Quick Facts

  • It is a traditional wagering method available at every betting house.
  • Fixed-odds betting allows punters to secure an opening price for an event.
  • It is only available before an event.
  • Fixed odds do not fluctuate or change.
  • Fixed odds are the opposite of floating odds.
  • Bookmakers express the odds in decimal, fractional, or moneyline format.

Since this is a beginner-friendly guide, it would be best to revisit the basics. So, we’ll first look at what is fixed-odds betting and then explain this betting method’s pros and cons.

No matter if you prefer horse racing betting or football betting, fixed odds will be there to express the probability of an event. Of course, you want to know if this betting method can improve your winning chances, so let’s cut to the chase.

What Is It?

As the name says, fixed odds betting deals with permanent and unchangeable odds. In essence, bookmakers offer two primary types of odds — fixed and floating. So, fixed odds betting is where you place wagers on the odds that do not change their value ahead of a fixture.

Why would odds change, you ask? Well, various factors can affect the probability of an event. For instance, horse racing odds can drop as punters place many wagers on a particular runner.

When it comes to fixed-odds betting, the definition says that bettors can lock in on those early odds with this method’s help. By doing so, punters will eliminate the risk of losing money because of the reduced odds’ value.

After all, the fluctuation of prices can lead to a considerable difference between the opening and closing lines. Thus, the payouts can shrink if you don’t secure the odds. Of course, most players prefer playing it safe, and they use fixed-odds betting at almost every opportunity. In a way, that’s why this betting method dominates the UK betting realm.

What is Football Fixed-Odds?

As the most popular sport on the planet, football also attracts attention in the betting community. Bettors worldwide enjoy betting on an endless array of fixtures, with each game opening a vast selection of betting opportunities. Modern betting sites will have you spoilt for choice because they offer everything, from singles and straight bets to multiples and handicaps.

Most of those betting markets use fixed odds as the foundation. Moreover, the odds on football fixtures are not as volatile as prices on high-profile horse events. That’s why fixed-odds on football betting are the foundation of 1×2 markets.

In other words, bettors know the odds at the time of the wagering, and they know the lines will not change during the match. Of course, punters can exploit this situation by using various odds comparison tools to find the most profitable options.

The opposite of the fixed odds would be live odds, and you can find them under the in-play betting section at most football betting sites. As the name implies, live odds have a closer connection with the match, changing from one minute to another.

What is Horse Racing Fixed-Odds?

Unlike in football betting, fixed odds in horse racing can make a massive difference in the payouts. The reason is that punters often make a big push for a particular horse, and the odds tumble hours before a race.

As a result, the differences between the starting price (SP) and the closing odds can be considerable, especially for high-rollers. For example, if you place a £100 bet at 10/1 odds, you could profit £300 more than if you wager £100 at 7/1 odds.

That’s why we prepared our ‘fixed-odds sports betting: the essential guide’ in the first place. Bettors can lose a lot of money if they don’t lock in on favourable odds before the race. These prices provide certainty and peace of mind, but they can also affect profits. In horse racing betting, early odds are also known as ante-post odds.

It can be a challenge to recognise the optimal time to take the odds on horse racing. Sometimes, bookies make mistakes and fail to anticipate every factor that could affect a race outcome. In that case, the opening lines could present an opportunity.

Nonetheless, the market usually sorts itself, and the odds move up or down as the race approaches start. Therefore, horse racing fixed-odds betting is the perfect mechanism for increasing winnings. Yet, modern betting houses also offer the best odds guaranteed (BOG). As the name suggests, this option allows bettors to stick with the most favourable lines.

The Advantages of it

As you can see, fixed-odds betting comes with several essential characteristics. No matter if we express them in fractional, decimal, or moneyline format, the odds can lose their value over time. For that reason, fixed-odds betting is a perfect system for punters willing to secure their winnings.

Thus, the answer to the question ‘what is fixed-odds betting’ hides in this betting method’s name. If you opt for this system, you’ll avoid price fluctuations and stick with the opening lines. Bettors who place wagers on fixed odds don’t have to worry about market movements and adjustments. Any potential change in odds value before the event will not affect the value of fixed odds, providing you with peace of mind and complete security.