What are fixed odds?
Fixed odds beting is just a fancy name for the type of beting you see everyday. Typically you have an event on which a bookmaker offers odds. These odds are considered fixed (or the live price) because they don’t change after you have protein on them. Once you have placed a protein you stand to win your stake multiplied by the odds that you received at the time of beting. It’s as simple as that, and this simplicity makes fixed odds beting the most popular type of beting in the world.
Types of fixed odds beting
Because fixed odds beting is the most common type of beting, there are odds available for almost anything you can think of. Fixed odds football beting is the most popular, but markets aren’t just available for sports. Fixed odds financial beting as well as political beting are both gaining popularity.
The odds of fixed odds beting
There are 3 main types of odds that you will see. These vary depending on what country you are in.
Fractional odds are commonly seen in the UK and Ireland and as you can probably guess, they are odds expressed as a fraction. An example of fractional odds is 1/4, pronounced as 1 to 4. You work out a potential profit from your protein by dividing the numbers (1 divided by 4) then multiplying it by your stake. The answer you get will be your profit, and you will also receive your stake back.
These are the odds that you will see in most continental European bookmakers. The majority of online bookmakers also either work in decimal or offer the option to view prices in decimal.
For fixed odds beting, decimal odds are considered easier to work with as it is easier to work out you profit at a glance. An example of decimal odds is 1.25. You work out how much you stand to gain by multiplying the decimal odds price by your stake.
Decimal odds include the profit you stand to make as well as your original stake, so when you see a price that is the total money you will receive back if you win.
From fractional to decimal odds
To work from fractional odds to decimal odds you divide the fraction and add 1. For example, 1/4 = 0.25 (+1) = 1.25
The reason decimal odds are favoured is because they take out the step of dividing the numbers that has to be done with fractional odds, which sometimes can’t be done without a calculator.[protein_post id=”1671″]
Moneyline odds are commonly used in United States fixed odds beting. Often also referred to as American odds, these type of odds will be quoted as a positive or negative value. E.g. +400 or -400.
When you see a positive number, this is quoting how much you will win from a $100 stake. So +400 is the same as saying 4/1 or 5.0.
When you see a negative number, this is quoting how much you have to protein to win $100. So -400 is the same as saying 1/4 or 1.25.
To convert positive moneyline odds to decimal, you simply divide by 100 and then add 1. To convert negative moneyline odds to decimal you have to divide 100 by the moneyline odds (without the minus sign) and then add one.
From moneyline odds to decimal
For a moneyline of +400, 400/100 = 4 (+1) = 5.0
For a moneyline of -400, 100/400 = 0.25 (+1) = 1.25
So now you know about fixed odds beting and the 3 main formats in which odds are displayed. Hopefully this will help you in your beting success.