Fixed Odds Betting - Fully Explained with Examples

If you’ve ever placed a bet, then it’s a good chance that it was a fixed odds bet. It might be a phrase that you’ve not heard before, but it’s the most common way of betting on sports across almost all online sportsbooks.

Fixed odds betting involves taking a price with a bookmaker, making your bet, and being paid out according to the odds that you took. We’re going to take a look at exactly how fixed odds betting works, alongside some examples.

What is Fixed Odds Betting?

Fixed odds betting is any type of betting where you know the odds that you’ll be paid out at before the event begins. It could be a horse race, a football match, or a baseball game. Any instance where you place your bet and you’re guaranteed to get the odds that you took is a fixed odds bet.

Examples of Fixed Odds Betting

You’ll find fixed odds betting in all sports, but let’s take a horse race as an example. Below are the different ways that you’ll see fixed bets presented.

• Odds against: the most common odds for fixed odds betting are odds against bets, this is where you multiply your stake by the odds. For example, a long priced horse as 20/1 will give you a £200 return for a £10 stake, because 20x10=200. 
• Even money: here, you win exactly the same amount as your stake, if the horse wins. These odds can be written as 1/1 in fractional odds, 2 in decimal, or +100 in moneyline.
• Odds on: these odds are reserved for horses who are very much the favourite. Here, you win a fraction of your original stake. So if a horse has odds of 1/5 and you bet £100 then if the horse won, you’d receive a fifth of your stake (£20) plus your original £100 stake.

Examples of Dutch Betting  

One of the aspects of fixed odds betting that bookmakers don’t necessarily like so much, is that it can be taken advantage of. If you notice that different bookmakers are pricing an event differently then it’s possible to place a bet on every outcome in that event and still make a profit. This is called dutching. It’s very similar to match betting, but instead of backing one outcome and then laying it elsewhere, you bet on all outcomes, without laying any bets.

How a Dutch Bet Works

1.    Find two sportsbooks with fixed odds on the same event that differ significantly from one another. 
2.    (Optional) See if you qualify for a free bet at either of the sportsbooks.  
3.    Choose a sport where there are only two to three possible outcomes is. So finding fixed odds on football would be a good start. 
4.    Select your match and enter the prices into a dutch betting calculator.
5.    Use the outcome from the calculator and your free bet to place your wagers. You should be guaranteed a small win.