Key Betting Terms Explained: Fixed-Odds Betting

January 28th, 2007

Fixed odds betting explained in simple language Fixed-odds betting is the easiest to understand and by far the most popular form of betting. Its popularity stems from the fact that you know how much you can win, or indeed lose, when you place your bet.

In the UK, fixed odds betting traditionally uses Fractional odds (for example 5/1 = five to one, 15/2 = fifteen to two).

Use of Decimal odds (such as 6.00 or 8.50, the equivalent of 5/1 or 15/2 respectively) is growing in popularity in other countries and most good online sports bookmakers give you the choice of odds format to display.

Both Fractional and Decimal odds are simply ways of telling you how much you could win from your stake – and how likely it is you’ll be successful.

Odds of 5/1 (6.00) mean that your selection will win, in the bookies opinion, once in six attempts – 5/1 is short for “5 losses to one win”.

Your potential winnings are calculated by multiplying your stake by the odds.

The most straightforward kind of fixed odds bet is a single. You just pick a selection and put some money on it. If it wins, you win.

The next most obvious fixed odds bet is a double – you pick two selections and they both must win. The winnings from one bet are staked on the second. Say you bet £10 on two 5/1 (6.00) chances. The first one wins, so you get £60 back as shown earlier. This £60 is then your stake for the second bet – so if it wins you’d get back £60 x 5 plus your stake back, giving a total of £360.

You can also bet each way, where you put one bet on your selection to win and the same amount on it to be placed. If it’s placed, your first bet loses, but your second bet gets paid out at a fifth, a quarter or a third of the odds, depending on the bookie’s rules.

Links to Other Key Betting Terms Explained:
>>Spread Betting
>>Asian Handicap Betting


Entry Filed under: Betting Tutorial,Sports Betting

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