Another way to think of the system is that the entire number indicates the odds of a particular event happening. For example, odds of 100/1 suggest that the outcome may only happen once every 101 times; whereas odds of 2/1 suggest the outcome may happen once every three times.
Odds shorten when a horse, team, or player’s chances of winning improve. For example, on the morning of a horse race, a horse may be listed at 3/1; but it could be back to 2/1 or 6/4 if a large amount of people were to start backing the horse to win. When odds are quoted as evens it means that there is an even chance of that bet winning. For example, the bet would be written as 1/1 although this is not typically carried out in practice.
When the odds are shorter than evens they will be listed as 4/6, 8/15, 2/5 etc. These odds can sometimes be referred to as “5/2 on” as that horse, team, or player is odds on to win.
What's The Difference Between Fixed Odds, Spread Betting, & Asian Handicaps
Fixed odds betting differs from spread betting in that you know the exact amount of money that you can win or lose from a particular bet since a bookmaker sets a fixed rate of return for a fixed amount waged.
For example, if you place a £10 bet on Manchester United to win at 5:1, you know that you will win £60 if they win the game…a £50 profit plus your original £10 wager back; or that you will lose £10 should Manchester United not win the match.
Spread betting is of course different in that profits can end up being many multiples of your stakes should your bet go your way. However, there is always the chance that you can lose more than your initial stake size should you lose the bet. This is something to consider when deciding to place a bet with a fixed odds or a spread bet wager.
With Asian Handicaps in football matches, you're just betting on two outcomes rather than three. Each team is given a handicap, so the draw is ruled out. This form of betting will be very popular in the 2018 World Cup.
Different Types Of Fixed Odds
When dealing with fixed odds, it is worth to note that there are two other terms used to describe them which can lead to some confusing conversations.
In the United States, for example, it is common to use a system called the “money line” for sporting events. With money line betting, a weighted value is assigned to each opponent. The favorite is identified with a negative three-digit number, such as -100. The underdog is identified by a positive three-digit number, such as +115.
At first, trying to read and interpret the money line can seem like a daunting and confusing task. But do not fear. The money line is actually quite easy to understand.
Let’s look at a quick example. Let’s say you want to bet on the favorite which is set at -105 and you are hoping to profit £100. In order to pull that profit, you would have to wager £105 with the -105 odds.
The second system used to express Fixed Odds is called “Decimal Odds” or “European Odds.” It is widely used in Europe, Australia and Canada, and is quickly gaining leverage in the United Kingdom as well.
Decimal odds include your original stake as part of the payout so the decimal odds are the equivalent to fractional odds plus 1.
For example, fractional odds of 10/1 would be displayed as 11. Fractional odds of 15/1 would be displayed as 16. So a winning £100 bet at decimal odds of 4 would return £400, a profit of £300 plus the return of your £100 stake.
Under fractional odds, the odds would have been displayed as 3/1. Fractional odds of evens would be displayed as 2 in decimal format. For fractional odds below evens, the decimal equivalent would be 1.01 and 2. For example, 10/11 would be 1.91 and 4/6 would be 1.66 and so forth.
Fixed odds betting is a tried and trusted way to place a bet. Although you won’t experience the massive multiplication of your initial wager should you win like in spread betting, or get bigger odds the way you can on some betting exchanges, fixed odds betting offers more security since you will know how much you can win and how much you can lose up front.
And since it is considered the traditional way of betting, you will be able to find several bookmakers that offer fixed odds.
If you decide to partake in fixed odds betting, it is strongly recommended that you familiarize yourself with the verbiage associated with this type of wager. Otherwise, you may find yourself confused and on the losing end of the bet.
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Fixed Odds Betting
With multiple types of betting opportunities available, sometimes it's good to go back to the roots and know exactly what you're getting. Fixed odds betting does just that - definite odds so you know exactly how much you could win or lose.
What Is Fixed Odds Betting
Wagering on your sport of choice can offer a lot of fun and excitement. Unfortunately, if you don’t fully understand the intricacies of the art of betting, it is more likely that you will have a bad time and end up with an empty wallet. Now there are many ways to place a bet, but one of the most popular ways is through fixed odds betting.
So what does it mean exactly? Fixed odds betting is often considered the traditional form of sports gambling. It's regularly expressed as a fraction such as 5/1 or 1/5, with the numerator representing the amount to be won and the denominator representing the amount to be wagered. They can also be expressed as a ratio, such as 5:2 (read 5 to 2).