Fixed Odds Betting
Fixed odds betting
In horse and greyhound racing, the odds
will fluctuate – often dramatically – right
up to the start of the race. Unless otherwise specified,
the payout odds will normally be the starting price,
which is the odds that were on offer at the last possible
moment of making a valid bet before the race started.
This is not the case with most other
forms of sports betting, where a system of fixed odds
allows you to see in advance the amount that it is possible
to win in the eventuality of a successful bet. This
eliminates the possibility of a big disappointment arising
from making a shrewd early decision to back a winner
at long odds, only to find that by the time the starting
prices are fixed, the betting public has become aware
of the prospect, backed it heavily, thereby bringing
the payout odds right down for everyone.
For each bet you will be offered odds
on any outcome. The odds will be determined depending
on how likely we believe each outcome to be.
You must decide how much you wish to bet. This is known
as your stake. The first figure in the odds tells you
how much you will win in proportion to your stake, represented
by the second figure. For example if Real Madrid are
4 to 1 to win the European Cup you can expect to win
four times your stake. Therefore if your stake is £10
you will win £40.
Do not forget that if you place a winning bet you will
also have your stake returned. Therefore if you have
£10 at 4 to 1 on Real Madrid winning the tournament
and they duly oblige, you will have £50 credited
to your account (£30 won + £10 stake).
In some circumstances bookmakers will predict an outcome
is more likely to happen than not and will offer you
"odds on", in which case you will win less
than your stake. For example Real Madrid might be 8
to 11 (or 11-8 odds on) to beat Panathanaikos. For a
stake of £11 you would win £8 and, of course,
have your £11 stake returned.
Fixed odds betting is used for both single bets and
also where you are betting on a higher number of selections
than just one single.
|
