What Are Fixed Odds / Fixed Price Betting?
Before speaking about fixed-odds betting or fixed price betting, let’s see what odds and fixed odds actually mean. Odds are basically a numeric (either fractional or decimal) representation of a probability of a particular event happening in the future. For example, in cricket, say player X will end up with the most number of wickets for team A. The odds for that are 1.90.
Meanwhile, under fixed odds we usually understand bookmarkers offering a certain rate to predict whether a particular event will occur in the game and users booking on those particular odds or that particular price.
That is, if you win, you will win only a certain, fixed amount and, respectively, if you lose, you will lose only a certain, fixed amount. Fixed-odds betting or fixed price betting is popular among all sports: cricket, football, hockey, tennis, or even horse racing.
Fixed-odds betting or fixed price betting is one of the oldest and the most traditional formats of sports betting. It is also one of the most common types of betting in the sporting industry.
Fixed Odds: Advantages and Disadvantages
Everything in life has its own advantages and disadvantages and similarly, betting with fixed odds or fixed prices has its own pros and cons. Here, we have jotted down a few.
One of the biggest advantages of betting with fixed odds is that the numeric value takes into account the recent form of the player or the team, player or team history, injuries, home and away conditions and all such things.
Another advantage of betting with fixed odds or fixed price is that you know exactly how much you will earn if you win and your prediction is spot on or how much you will lose if your prediction turns out to be incorrect. You have the price in hand before placing the bet and you could weigh all the options before proceeding and confirming your bets with the bookmarker.
One of the major disadvantages is that if you use too many complex methodologies, it might get difficult to use estimates and calculate the odds as well as the amount to be invested.
Another disadvantage of betting with fixed odds or fixed price is that the price you place your bet at is fixed and it does not change while the game is on. However, the rates and bets change as the game progresses. There is no way you can make changes to your bet if you are betting with fixed odds and fixed prices. The dynamic nature might depend on the ebbs and flows of the game in all sports and any match can take a sudden turn in a matter of a few minutes which could prove to be costly in the end.
Fixed-Odds Bet Examples
Say, the odds of a particular team A of winning the match are placed at 10/1 and you invest about Rs 100 in favour of that team A winning the match, then your total profit will be Rs 1000. In addition to that, initially invested Rs 100 will also be returned.
On the other hand, say, if the odds of a particular team B winning are bigger, the fraction could be flipped and for instance, the team B’s winning odds may be placed at 1/4. So, if you bet on team B winning with these odds, then you need to invest Rs 4 to gain a profit of Rs 1. So, if you invest Rs 400 on the odds of 1/4, you will make a profit of Rs 100 and have the invested Rs 400 returned as well.
When Should I Take Fixed Odds?
There are a few optimal situations when you can place bets with fixed odds and fixed prices. One of the best moments to place a bet with fixed odds is at the start of the game. At times, bookmarkers fail to take into account a few vital details and aspects of the game. This is not intentional, neither it is a glaring human error, it just tends to happen and hence, they can get it wrong and you could take advantage of such circumstances to place a bet with fixed odds to gain maximum result. Another peak time of placing bets with fixed odds is during the end phases of the game. With bookmarkers hustling and trying to wrap up the game, it might be a good time to take advantage again. Moreover, during the end stages of the game, you could get a lot of clarity on how things have progressed and hence, it may be beneficial.
Betting with fixed odds is an easier and more comfortable way to get into sports betting as you exactly know what you will gain or lose. It gives you a much better perspective rather than to worry about the margin of the result, therefore, you can truly enjoy the game. It is a highly recommended way of betting for newcomers.
|Spread Betting||Fixed Odds Betting|
|You largely bet on the margin of victory or if a particular player outperforms by a certain margin.||In fixed-odds betting, margin doesn’t matter. The only thing that is relevant is whether the team won or whether the player outperformed.|
|Winning and losing margin could vary depending on the margin of the result.||Winning and losing margin is fixed at certain odds or price.|
|It is a little more complex when compared to fixed odds betting.||It is easier to understand and implement when compared to spread betting.|