How to Bet on Fixed Odds – Fixed Odds Betting Guide 2026
Fixed odds betting is a form of gambling where the odds are set by the bookmaker at a certain value, you’re placing your wager on them and then, even if they change, this won’t reflect on your betslip. Whether the bookie increases or decreases the odds they offer, your potential returns and payout will still be calculated with the starting price.
This type of betting allows you to risk less and be aware of what your winnings might be because you know the odds won’t change. Still, there are lots of other things to keep in mind about such kind of gambling, so let’s take a more in-depth look at what are ‘fixed odds’ and how are they used within the betting world.
Types of fixed odds offered online and how to determine your winnings with fixed odds bets?
Before I delve further into “fixed odds betting”, I would like to actually show you the main kinds of odds formats you will be able to see and discuss those in details below.
Fractional odds
As you can gather by the name, those kinds of odds are expressed as a fraction. Quite popular across horse racing and greyhounds, they allow you to directly see how much profit you can make relative to your stake. For instance, with odds of 2/1, you’ll be able to win £2 per every £1 you wager. With odds of 1/3 you’ll be able to get £1 in profit per every £3 you place on your selection.
Decimal odds
More commonly, though, fixed odds are quoted as decimals. With them you can quickly see your total payout. You just need to multiply your stake times the odds and you’ll see how much you can get in return on a certain winning bet. For instance, say you’ve got 2.00 odds and you place a £10 stake. That means you’ll get £20 in return if your selection succeeds and that includes your stake which corresponds to £10 in profit.
That’s quite a popular form of expressing the odds on football matches and numerous other sports, especially because they allow you to easily see how likely is a given event. The lower odds signify something that has a higher chance of happening. The higher the number is, on the other hand, the less possible the outcome is.
American odds
American odds are most commonly used when wagering on MMA, American football and the NBA. Also known as moneyline odds, they are shown with positive and negative signs. The ones with the “+” are on the for the underdog and those odds simply show you how much you can win if you wager £100. The favorite player or team of the given fixture will have negative (“-“) odds, on the other hand, and those will show you how much you need to wager to win £100.
How does sports betting on fixed odds work?
Placing your wager at fixed odds is one of the easiest form of betting. You’ll just need to pick a bookmaker to get started with and then sign up. When you’ve joined as a new bettor, you’ll be able to deposit some money through one of the various payment options added. Go through the process (it takes a minute or two) and also decide on whether you’d like to use the welcome sports betting promotion.
Once you’ve got some real cash in your gambling balance, you can head towards the sportsbook. There you’ll see the different types of sports which the bookie covers. Choose one of them to open all the maches provided. Then you can browse through them and look at the main betting markets. Usually, though, they’ll be much more markets offered than the ones you can see within the lobby, so you’ll need to click on the particular sports match to open them all.
Anyways, you’ll be able to take a look through the possible outcomes, as well as the odds at the time. When you’ve seen a selection you’d like to bet on, click on the odds which are related to it and you’ll add the outcome in your betslip.
If you’ll be creating doubles, trebles, accas or special bet combos, you can proceed further with placing more selections.
When you’re all set, you will have to enter your stake. Take a look at the wager once more and confirm it to place your bet. Now the only thing that remains is waiting for it to settle and see what the outcome will be.
And whether the price will go up or down later on, your potential winnings are calculated according the odds you’ve accepted at the time of placing your bet. Therefore, you can easily estimate how much you can win or lose. The only variance in this calculations might come in the case of voided bets (when the bookie will either return your original stake of exclude the voided bet odds if you’ve placed a multi) and when placing horse racing wagers. In the last case, usually the chances stem from the application of the Rule 4 deduction which happens if a horse gets withdrawn from the race after you’ve got your bet placed.
Fixed odds vs other alternative types of betting: Variable odds and spread betting
Many gamblers combine placing a bet on fixed odds with additional types of betting strategies. Some of them might increase your chance of winning but might mean you’re actually getting a worse deal, it all depends on what will happen next. And while fixed odds provide you with an easier and safer form of gambling, there is something known as variable odds betting, too. In other words, here you’re placing your wager but the price might change depending on any new information about the given sporting event, as well as depending on how the match unfolds when talking about in-play odds.
Now, some of the most popular examples of this kind of variable odds betting are:
- Spread betting: Here you’re covering a bigger variety of opportunities and your winnings actually depend on how accurate your prediction will be. You’re not wagering on the odds but against some type of a spread (such 1-1.5 total goals in the first half of the match). Remember that here your winnings or losses aren’t capped and you cannot calculate them in the beginning. The closer you are to the correct outcome, the higher your potential profit will be. But there’s also a much bigger risk because the losses might increase the initial stake you’ve placed.
- Pool betting: Pool betting is whenever you combine your money together with other players and the total amount is then placed on a particular wager. Also known as pari-mutuel betting, it spreads the pool among all players who’ve guessed the winning outcome (depending on whether they’ve been right, of course). Usually employed in horse racing, it can provide much higher or lower returns per a unit stake because the pool that the winners will share depends on how many bettors have placed a wager (and what its amount was).
Such wagers can add a bit of variety to your betting experience but are only suitable for more advanced punters, considering they come with many specific rules and strategies. That’s why, if you’d like to use them, you need to read up more about how they work. We’ve got various articles that cover variable odds betting in more depth, so check them out to be better equipped to make informed decisions.
Types of bonuses to use for fixed-odds betting
The world of betting ensures punters have lots of promo offers to choose from, too. For instance, new bettors will be commonly offered to claim a bonus matching their first deposit up to some max amount (say, 100% up to £100). But just as frequently found promo is the one where you place your first wager and get a bonus in the form of bet tokens. The rules might vary quite a bit. With some you just settle the stake and claim bet tokens, regardless of whether you win or lose.
With other bookies you’ll be provided with a boost (or enhanced odds) towards your bet provided it wins. Other sportsbooks, though, provide you with Bet Insurance which means that if you lose, you’ll get your original stake back. Of course, do keep in mind that you’ll need to place bets on selected markets and with certain min odds.
For instance, some betting offers may need you to bet on each-way with odds of events min whereas others match your qualifying bets on football and so on.
Whatever the case is, you’ll be able to see all the rules in advance, so always read them carefully. And don’t forget that betting is a form of real money gambling, even if done with bonuses from time to time, so you need to manage your bankroll carefully, play responsibly and make sure you don’t wager more than what you can afford to lose.
