What Is Fixed Odds Betting? Fixed Odds Bets Explained

Thinking about trying your hand at betting but don’t know where to start? Fixed odds betting is one of the easiest forms of betting to understand and a great place to begin. 

In fixed odds betting, you place a bet on an event, such as a football match or a horse race, and the odds you see at the time you place your bet remain the same. This means you know exactly how much you stand to win if your bet is successful. 

Whether you’re looking at sports, politics, or even television show outcomes, fixed odds betting offers a straightforward way to get involved. It’s important to remember that, like all forms of gambling, it should be enjoyed responsibly. 

Keep reading to learn more about how fixed odds betting works and how you can make the most of your bets. 

What Is a Fixed Odds Bet?

A fixed odds bet is a bet where the odds are set at the time you place your bet. These odds represent the likelihood of a particular outcome occurring in the event you’re betting on. 

For example, if you bet on a football team to win a match, the odds will indicate how much you can win if your team is successful. If the odds are 2/1 and you place a £10 bet that goes on to win, you’ll receive £20 in winnings plus your original £10 stake, giving you a total return of £30. 

What makes fixed odds betting simple is that once you place your bet, the odds do not change. This means you know exactly how much you stand to win before the event begins. 

Fixed odds betting can be used for various events, like sports matches, political elections, or even TV shows. Each event has odds set by the bookmaker, and these odds indicate the probability of each possible outcome. 

Remember, always gamble responsibly and never bet more than you can afford to lose. 

Fixed Odds Betting Football Example

Let’s look at a simple example of fixed odds betting on a football match. 

Imagine there’s a match between Manchester United and Chelsea. You decide to place a £10 bet on Manchester United to win. The bookmaker offers odds of 3/1 for Manchester United. 

These odds mean that for every £1 you bet, you can win £3 if Manchester United wins. So, with a £10 bet, you stand to win £30 plus get your original £10 stake back, making a total return of £40. 

Now, if Manchester United wins the match, you’ll receive £40. If they don’t win, you’ll lose your £10 stake. 

This example shows how fixed odds betting gives you a clear idea of your potential winnings before placing your bet. Always remember to gamble responsibly and only bet money you are comfortable losing. 

This approach to betting is widely used for various sports, making it a popular choice for many bettors. 

How To Make a Fixed Odds Bet

Making a fixed odds bet is quite simple and straightforward. Here’s a step-by-step guide to help you get started: 

• Choose a Bookmaker: Start by selecting a reputable bookmaker. This could be an online platform or a physical betting shop. Ensure they are licensed by the UK Gambling Commission (UKGC) for your safety. 
• Understand the Odds: Look at the event you’re interested in and check the odds offered by the bookmaker. The odds will tell you how much you could win based on your stake. 
• Select Your Event and Outcome: Pick the event and the specific outcome you want to bet on. For example, a football team to win, a horse to place first, or a contestant to win a TV show. 
• Place Your Bet: Decide how much money you want to bet, also known as your stake. Then, place your bet. If using an online platform, you’ll usually confirm your bet by clicking a button. 
• Wait for the Result: Once your bet is placed, all you need to do is wait for the event to finish to see if you’ve won. 

Remember, always bet responsibly and only gamble with money that you can afford to lose. 

Fixed Odds vs Tote: Which Is Better?

When it comes to betting, you might hear about two common types: fixed odds and tote betting. Both have their own advantages, so let’s compare them to see which might suit you better. 

Fixed Odds Betting

With fixed odds betting, you know the odds at the time you place your bet. This means you know exactly how much you stand to win if your bet is successful. It offers a clear and straightforward way to bet, making it ideal for beginners. 

Tote Betting

Tote betting works differently. Instead of fixed odds, all the money bet on a particular event goes into a pool. After the event, the total pool (minus a small operator fee) is divided among the winners. This means the odds can change based on how much is bet on each outcome, often leading to more variable returns. 

Which Is Better?

The choice between fixed odds and tote betting really depends on what you prefer. Fixed odds give you certainty about your potential winnings, while tote betting can sometimes offer higher rewards if the pool is large and many bet against the outcome you choose, but it isn’t guaranteed. 

Ultimately, both have their place in the world of betting. It’s worth looking further into both to see which lines up with your preferences more. As always, remember to gamble responsibly. Also, please note that this article is for educational purposes and not to be taken as any kind of gambling advice. Always do your own research and read the terms and conditions before placing any bets.