It’s rare for odds to remain stagnant for an extended period in sports betting. It’s pretty standard for odds to change from time to time. Sportsbooks offer odds to gamblers using various betting methods, and fixed odds are one of them.
If you place a wager at a given odd, the money you will win if you hit the bet remains unchanged regardless of how much the odds fluctuate. Fixed odds in sports betting are straightforward to calculate winnings.
What does Fixed Odds Betting Mean?
Sometimes the term fixed odds is used to refer to matches that have been thrown away, which is illegal and unrelated to what we focus on in this article.
Fixed odds mean the sportsbook takes your wager and locks in the price. Once your wager is accepted, the odds will not change. Let’s assume a Moneyline bet with the following odds as an example:
- Team A (+260)
- Team B (-200)
If you bet $100 on Team A, your potential payout will be $260. Let’s say some significant news breaks, altering the odds for Team A. The odds then go from +260 to +200.
No matter what happens, once the sportsbook accepts your wager, you are guaranteed to receive the agreed-upon sum if your ticket turns out to be a winning one. Even if the Team A odds drop to +200 or more when the game starts, your wager will not be affected since you placed it at +260.
Here is another example: before the NBA season began, Team C had +1750 odds to win the NBA finals. When the first game of the final began, their odds had fallen to +350.
A bettor who placed a wager on Team C when its initial odds were +1750 would have earned $1,750 for every $100 they bet since Team C ended up winning the finals. Preseason futures betting can be very profitable if you use fixed odds. Read more NBA Betting Odds.
How Does Fixed Odds Betting Work?
Fixed-odds bets are the most common type of betting. Once you lock in your bet, and if it’s a win, the sportsbook will pay you according to the odds they gave you when you placed your wager.
When it comes to betting on events such as horse racing, you get the starting price before the event starts, and it is impossible to bet once the race has started. Fixed odds betting, on the other hand, offers you the odds of an event even after the event has begun.
With fixed odds, no matter if the odds change: you will be paid at the odds you bet if you lock in a wager that is priced at, for example, +140. If you place a $100 bet on the winning team, you will win $140.
What Do Negative Odds Mean in Betting?
Starting as a sports bettor can be intimidating if you’re unfamiliar with sportsbook odds and betting lines.
The team names are accompanied by numbers that are 110 or higher, and these numbers have pluses or minuses. This may appear somewhat daunting at first glance, and you would not be the first person to turn away.
You are examining the “American odds,” which show how much each team pays out and how heavily favored they are to win.
Don’t be intimidated by the appearance of odds lines and the plus and minus concepts. We will walk you through everything step by step to ensure that your first wagers are well-calculated and well-placed. It’s not as hard as it sounds.
Are Negative or Positive Odds Better?
The plus and minus signs are vital to consider. They give you a ton of information about the wager and the game. More detailed explanations of the plus and minus signs and how to read them are provided below.
Odds with Minus Sign (Favorite)
A minus symbol means the team is expected to win. When you wager on a team with a minus sign, and it wins, you get a worse payout because they are more likely to win. Take the following into consideration:
- A team with a negative number is the favorite.
- The number next to the minus sign tells you how much you must wager to win $100.
- If the number is -110, you must wager $110 to win $100.
Odds with a Plus Sign (Underdog)
Based on the information provided, which team is the underdog can be determined by seeing a plus sign in front of a number (for example, +140). The underdog pays out more money because they are less likely to win. Remember the following:
- The team with the plus sign is the underdog.
- The number tells us how much money we will win if we bet $100.
- If the number is +140, a $100 bet will give you $140.
Fixed Odds Betting In Professional Sports
Sportsbooks typically offer fixed-odds wagering. Once you’ve decided on a wager and made a bet, you will discover that no future odds adjustments will affect it.
The following professional sports offer fixed odds betting:
Things To Know About Fixed Odds Betting
A few critical factors to consider when betting on fixed odds:
- Once the betting site has accepted your wager, the price cannot be altered.
- If the sportsbook changes the odds before you lock in your bet, they will use the new numbers to determine your prize.
- The current price is subject to future changes, so you must place a bet to lock in those odds if you think they might be different later.
- Your wager will not be affected by future odds changes.
In sporadic instances, bookies may make errors when calculating odds. In those situations, the sportsbook may cancel your wager if the odds they provided were formulated by mistake.
Here are the most important ones if you’re asking yourself how to maximize the chances of winning with a fixed-odds bet.
Use common sense to evaluate whether an event will be a good bet. Look for games with about a 60:40 chance of winning by the favorite. That means if you bet $160 on a game in which the favorite is -160, and you get it right, your win would be $100.
If you think the game will be close, go with the underdog. If the team is +160 and the moneyline bet is $100, your return would be $160. If you bet on an underdog that’s +120 and the moneyline bet is $100, your return would be $120.