What is Fixed Odds Betting
An introduction to fixed odds betting
Fixed odds betting is a common type of sports betting around the world. Most sportsbooks usually offer these types of odds on just any sporting event. In this form of betting, the bookmaker will offer odds on a specific aftermath in a match. For instance, if you bet on a horse at odds of 10/1 and it wins, the bookmaker will pay you winnings of 10x the stake plus the original amount. However, if your bet loses, the bookmaker wins, and you will lose your stake.
Fixed Odds Bet Attraction
Fixed odds betting usually differs from spread betting in that the odds provided by the bookmaker fix your potential profit or loss. With fixed odds, you don't need to worry about the game's outcome. However, with spread betting, your profit or loss can be many multiples of your initial bet amount. Therefore, with spread betting, you will primarily be betting on the margin of victory for a single team. If you think team A has a chance of winning a game by a certain amount, you can bet on that team. For instance, if you place a wager of $100 on a favorite to win at 1/5, your potential return will be fixed at $20 plus the profit of your bet amount. Your potential loss will be fixed at $100. However, if you place a $100 spread bet on a favorite, your return profit will be $100 for every goal above the spread. This is assuming the spread was 1.8 – 2. If the win is 5-0 for the favorite, you will win $300, and if the underdogs win by a goal, you will lose $300.
Fixed Odds bets example
Odds against bets: Your return will be calculated by multiplying your investment by the bet odds on offer. For example, if you bet $10 on a horse, your return will be $100 plus your $10 risk if the horse wins the race. You will lose $10 if the horse does not win the race.
Even money bets: If your bet wins, you will get the same amount as your stake. For instance, if you bet $50, you will win $50 plus your original stake, but if your team loses, you will lose $50.
Bet odds: You win a percentage of your original wager if your bet wins. For example, placing a $100 wager on a cricket match will win you $20 plus your original $100 wager. If that cricket team does not win, you will lose $100.
Fractional to decimal odds
Most betting lines in the United States are offered in fractions. The possible winnings with fractional odds are in addition to the amount that a bettor must stake. So, if you wager $100 on 4/1 odds and win, you will earn $400. The fraction will be reversed if the odds on something are exceptionally high. It will still be a possible gain on top of the amount gambled, but the payout will be much lower. If a team is predicted to win the Super Bowl, their odds might be as low as 1/3. That implies you'd have to wager $3 to earn $1. In other words, it's not a gamble worth making because the bet amount surpasses the prospective rewards. 1/1 odds indicate that any team in a particular game has a 50/50 probability of winning.
The only difference between decimal odds and fractional odds is the presentation. Decimal odds are simply just a means to calculate your wins rather than displaying the potential winnings above or below the bet. For example, if the odds are 3.0, your return will be three times your stake. If the odds are 3.5, your profit will be three and a half times your wager amount.
Moneyline Odds
When you look at a bet, the moneyline will appear next to the spread and implied total. Such odds are most prevalent in the United States. To understand moneyline odds, let's use the Super Bowl as an example. Team A is listed as three-point favorites, and the game's expected total is 59 1/2. In between these two figures, you will see the moneyline. The moneyline for team A is -160, while the moneyline for team B is +140. This means when you bet on the moneyline, you're betting on a team to win the game outright. The odds assigned to each team show their chances of victory. Because team A is favored in the prior case, they have the better moneyline odds. A point spread is not required to determine which team is favored. The negative team wins if one team has a negative (-) symbol while the other has a positive (+) symbol. In the above example, you must bet $160 on team A to win $100. If you bet the same $100 on team B and win, you'll get $140 back. Both teams may have a negative sign next to their names. This indicates neither team is significantly favored, although one team will almost always have slightly superior chances. Nonetheless, you are still betting on which team you think will win if you bet on the moneyline. A moneyline of +500 is equivalent to fractional odds of 5/1. A moneyline of -500 is the equivalent of 1-to-5 odds.
Betting on the Underdog in Moneyline
Taking the underdog on a moneyline wager will always seem more financially appealing. Upsets frequently happen in sports, and the payout is significantly bigger if you choose the underdog and win rather than the favorite and win. Therefore, you must choose your positions carefully here. Bookies conduct more research than anybody else, and you must do some thorough research if you believe you can beat the moneyline. Choosing an underdog almost always results in a better outcome, but you should always be smart about it.
Accumulators and Multiples
An accumulator bet, often known as a parlay, is a single bet that connects many bets, and it depends on all the bets to win to make a profit. This sort of betting gives access to higher odds compared to a single bet. This potentially means a better return on the initial stake amount if all bets are successful. For example, if you bet $10 on a team with the odds of 10/3, your potential return will be $43.33 if the team you bet on wins the game. If you desire to make an accumulator bet on teams A and B at 10/3 and teams C and D at 5/4, your potential profit will be $97.50 if your stake is $10. You will win this bet if teams C and D win each fixture. You can choose from various accumulator or multiple bet options when placing your bets.
Conclusion
Betting on fixed odds is a great way of utilizing sports betting odds, especially if you're a beginner. There are only a few surprises, meaning you will always know what you're getting into when placing a wager. Instead of dealing with the complexities of spread betting, which keep you worried and anxious, you can simply enjoy the game when you use fixed betting odds.
