If you’re just starting to explore sports betting, you may have noticed that the odds shown for different outcomes don’t always stay the same. This might seem confusing at first, but there are clear reasons why this happens. In this blog, we’ll explain what betting odds are, why they shift over time, and how this movement happens across different types of events.
We’ll also go over how bookmakers—sometimes known as sportsbooks—set their odds, what fixed odds mean, and whether your odds can change after you’ve placed a bet. Everything is explained in simple terms, so you don’t need any previous knowledge of betting or sports.
What Causes Betting Odds To Change?
Betting odds are numbers that reflect how likely something is to happen. They’re used to work out how much a bet might return if the outcome occurs. But these odds are not fixed in place before you place your bet. They can go up or down based on several things.
One major factor is how much money people are putting on a particular result. For example, if many people back one football team to win, the odds for that team might become shorter. That means the possible return is smaller. This isn’t because the team is suddenly more likely to win, but because the bookmaker wants to try and limit the risk of a potentially large payout.
Information also plays a part. Say a top player in a tennis match pulls out due to injury—this can affect how likely one side is to win. Bookmakers may change the odds to reflect this new situation.
Other outside elements like weather conditions, or official announcements can also influence odds. For instance, in horse racing, heavy rain can affect track conditions, and that might favour certain horses over others. Odds may be adjusted accordingly.
Bookmakers use all this information to help manage their potential losses. They try to offer odds that attract bets on all possible outcomes. This way, no matter who wins, the bookmaker can usually make a profit. This is called balancing the book.
Can Bookies Change Odds After a Bet Is Placed?
Once you place a bet with fixed odds, the odds you accepted are locked in. That means your bet will stay at those odds even if they change afterwards. This type of betting is common in the UK, particularly for pre-match markets.
However, there is an exception called a palpable error (often shortened to “palp”). This refers to a clear and obvious mistake in the odds—for example, if a team listed as a strong favourite was accidentally priced with odds suggesting they are unlikely to win. In those rare cases, the bookmaker may cancel the bet or adjust it. Each betting site has their own terms and conditions that explain how they deal with palpable errors, so you may want to read them before placing any bets.
During live events, where odds can shift rapidly based on what’s happening in the game, the odds shown might change while you’re trying to place your bet. If they do, most bookmakers will ask you to confirm before going ahead. Once confirmed and accepted, your odds will not change again for that specific bet.
Betting in the UK is regulated by the UK Gambling Commission (UKGC), which requires all licensed operators to handle odds changes and errors fairly. Still, it may be worth reviewing the terms and conditions of the bookmaker you choose, as rules may vary slightly from one provider to another.
How Bookies Set Odds
Bookmakers use a mixture of statistical analysis and expert insight to come up with their odds. They look at a wide range of data, including past performance, head-to-head records, injuries, form, and even team tactics.
For example, if a football team has won most of its recent matches and is playing against a weaker opponent, the odds will usually show that this team is more likely to win. This doesn’t guarantee a win—it just reflects what the data suggests is more probable.
But bookmakers also factor in their own financial exposure. They set odds in a way that encourages a balanced spread of bets. This helps reduce the risk of losing money, no matter which outcome occurs. To do this, they include something called a margin—this is a small percentage built into the odds that helps ensure a profit over time.
Different bookmakers might analyse events in slightly different ways, so you may notice some variation in odds between sites. For example, one bookmaker might offer odds of 2.0 (even money) on an event, while another offers 2.1. This is why some bettors choose to compare odds before placing their bet.
Fixed Odds Betting: Avoid Changing Odds
Fixed odds betting means that the odds for your bet are agreed at the time you place it. Once accepted, they stay the same, regardless of how the market moves later. This type of betting is widely used for sports events before they start.
For example, if you place a bet on a rugby team to win at odds of 3.0, your potential return is calculated based on those odds. Even if the odds for that team drop to 2.5 afterwards, your original bet remains unchanged.
Some people prefer fixed odds betting because it lets them know in advance what the possible return could be. It also helps avoid confusion that may come with changing odds during live events. However, live or in-play betting is a separate option where odds update frequently as the match or game unfolds.
Not all bookmakers offer the exact same markets or terms for fixed odds. Some may provide promotions or features that others don’t. It can be useful to read the terms of each site before deciding where to place a bet.
Remember, sports betting always involves an element of chance. No strategy, odds, or analysis can remove this. There’s no way to predict outcomes with certainty, and returns are never guaranteed. Please gamble responsibly.
*All values (Bet Levels, Maximum Wins etc.) mentioned in relation to these games are subject to change at any time. Game features mentioned may not be available in some jurisdictions.
**The information provided in this blog is intended for educational purposes and should not be construed as betting advice or a guarantee of success. Always gamble responsibly.
If you’re just starting to explore sports betting, you may have noticed that the odds shown for different outcomes don’t always stay the same. This might seem confusing at first, but there are clear reasons why this happens. In this blog, we’ll explain what betting odds are, why they shift over time, and how this movement happens across different types of events.
We’ll also go over how bookmakers—sometimes known as sportsbooks—set their odds, what fixed odds mean, and whether your odds can change after you’ve placed a bet. Everything is explained in simple terms, so you don’t need any previous knowledge of betting or sports.
What Causes Betting Odds To Change?
Betting odds are numbers that reflect how likely something is to happen. They’re used to work out how much a bet might return if the outcome occurs. But these odds are not fixed in place before you place your bet. They can go up or down based on several things.
One major factor is how much money people are putting on a particular result. For example, if many people back one football team to win, the odds for that team might become shorter. That means the possible return is smaller. This isn’t because the team is suddenly more likely to win, but because the bookmaker wants to try and limit the risk of a potentially large payout.
Information also plays a part. Say a top player in a tennis match pulls out due to injury—this can affect how likely one side is to win. Bookmakers may change the odds to reflect this new situation.
Other outside elements like weather conditions, or official announcements can also influence odds. For instance, in horse racing, heavy rain can affect track conditions, and that might favour certain horses over others. Odds may be adjusted accordingly.
Bookmakers use all this information to help manage their potential losses. They try to offer odds that attract bets on all possible outcomes. This way, no matter who wins, the bookmaker can usually make a profit. This is called balancing the book.
Can Bookies Change Odds After a Bet Is Placed?
Once you place a bet with fixed odds, the odds you accepted are locked in. That means your bet will stay at those odds even if they change afterwards. This type of betting is common in the UK, particularly for pre-match markets.
However, there is an exception called a palpable error (often shortened to “palp”). This refers to a clear and obvious mistake in the odds—for example, if a team listed as a strong favourite was accidentally priced with odds suggesting they are unlikely to win. In those rare cases, the bookmaker may cancel the bet or adjust it. Each betting site has their own terms and conditions that explain how they deal with palpable errors, so you may want to read them before placing any bets.
During live events, where odds can shift rapidly based on what’s happening in the game, the odds shown might change while you’re trying to place your bet. If they do, most bookmakers will ask you to confirm before going ahead. Once confirmed and accepted, your odds will not change again for that specific bet.
Betting in the UK is regulated by the UK Gambling Commission (UKGC), which requires all licensed operators to handle odds changes and errors fairly. Still, it may be worth reviewing the terms and conditions of the bookmaker you choose, as rules may vary slightly from one provider to another.
How Bookies Set Odds
Bookmakers use a mixture of statistical analysis and expert insight to come up with their odds. They look at a wide range of data, including past performance, head-to-head records, injuries, form, and even team tactics.
For example, if a football team has won most of its recent matches and is playing against a weaker opponent, the odds will usually show that this team is more likely to win. This doesn’t guarantee a win—it just reflects what the data suggests is more probable.
But bookmakers also factor in their own financial exposure. They set odds in a way that encourages a balanced spread of bets. This helps reduce the risk of losing money, no matter which outcome occurs. To do this, they include something called a margin—this is a small percentage built into the odds that helps ensure a profit over time.
Different bookmakers might analyse events in slightly different ways, so you may notice some variation in odds between sites. For example, one bookmaker might offer odds of 2.0 (even money) on an event, while another offers 2.1. This is why some bettors choose to compare odds before placing their bet.
Fixed Odds Betting: Avoid Changing Odds
Fixed odds betting means that the odds for your bet are agreed at the time you place it. Once accepted, they stay the same, regardless of how the market moves later. This type of betting is widely used for sports events before they start.
For example, if you place a bet on a rugby team to win at odds of 3.0, your potential return is calculated based on those odds. Even if the odds for that team drop to 2.5 afterwards, your original bet remains unchanged.
Some people prefer fixed odds betting because it lets them know in advance what the possible return could be. It also helps avoid confusion that may come with changing odds during live events. However, live or in-play betting is a separate option where odds update frequently as the match or game unfolds.
Not all bookmakers offer the exact same markets or terms for fixed odds. Some may provide promotions or features that others don’t. It can be useful to read the terms of each site before deciding where to place a bet.
Remember, sports betting always involves an element of chance. No strategy, odds, or analysis can remove this. There’s no way to predict outcomes with certainty, and returns are never guaranteed. Please gamble responsibly.
*All values (Bet Levels, Maximum Wins etc.) mentioned in relation to these games are subject to change at any time. Game features mentioned may not be available in some jurisdictions.
**The information provided in this blog is intended for educational purposes and should not be construed as betting advice or a guarantee of success. Always gamble responsibly.
