In the world of online sports betting there are many different types of wagers that can be placed, including pari-mutuel, exchange, spread and future bets. In New Zealand, the most popular form of wagering is fixed odds. This is simply because, with this type of punt, punters know exactly how much they can win as soon as the bet is placed.
Fixed odd bets can be found on just about every sport including Rugby, Cricket, Tennis, Soccer, Baseball, Basketball, Formula One, Horse Racing and Hockey, to name just a few. The main difference between these and other sports bets is knowing how much you are going to get out if the bet is successful.
Know the Basics
With Pari-mutuel punts for example, all the bets go into a single pool and only once the tote has closed, can punters find how many wagers were placed and how much they stand to win. Spread sports betting is equally ambiguous, as punters can stand to win or lose far more than their original stake as each point over or under the line comes with financial implications.
Compared to all these, fixed punts are far safer, and much easier to understand.
A Simple Example
Let’s say there is major tennis tournament coming up and you want to place an outright bet on the winner on the women’s singles. The best sporting brands would have a full list of the top candidates with their respective odds posted.
You may have been following the progress of the players and you think Caroline Wozniacki has a good chance to taking the event. Her odds might be initially posted at 4.00, or even 4.50. If we were to place a fixed bet and on Caroline and Simona Halep and a few other big names pulled out, Wozniaki would drop to 2.50 or even lower. By the time she reaches the finals, they could have dropped below 2.00; but you would be paid out the original amount if she were to win.
Fixed odds betting can incorporate many different types of bets, basically any wager where the amount you are paid out is agreed upon when the punt is placed. This includes all pre-match, future, match, set, score, prop and specialty bets. It also includes live, and first half and second half wagering. They are all fall under the same category, as you are aware of the final amount that is paid out and the inherent risk involved.
When the Payouts Do Change
There are some cases with fixed online or mobile sports betting where the amount paid out is different to the amount originally set out at the time of the bet. This mostly happens in horse racing when a runner drops out after the final declarations have been made. Some of the best sports betting brands also offer best odds guaranteed, which is where the site will actually pay out more on odds that shift upwards after the punt is placed.