Quick summary
This article explains fixed-odds betting, a system that locks in your payout at the moment you place a wager, giving you clarity and control. It covers how fixed odds work, offers practical examples, and shares strategies to help you maximize betting value. For more articles like this, visit our blog, The Advantage.
Looking to understand how fixed odds work?
Many new bettors struggle with changing odds and unpredictable payouts, making it hard to feel confident about their wagers. Fixed-odds betting solves this by locking in your odds the moment you place your bet, ensuring you know exactly what you stand to win.
Even if the market shifts, your payout stays the same, which is why this method is a favorite for bettors who value consistency and control.
In this Pinnacle Odds Dropper guide, we’ll explore how fixed odds work, the main types of bets, and tips for using them effectively.
What are fixed odds?
Fixed odds are a type of betting where the odds are set at the moment the bet is placed and do not change, regardless of how the market shifts afterward. When you place a fixed-odd bet, you know exactly how much you stand to win, as the odds are locked in at the time of the wager.
This is in contrast to other types of betting, such as pari-mutuel, where the final payout is not known until the event is over and is determined by the total money wagered on all outcomes.
How fixed odds betting works
Sportsbooks set odds
The sportsbook sets the odds for each possible outcome based on various factors like team performance, injuries, and historical data. These odds reflect how likely an outcome is to occur.
You place your bet
Once the odds are set, you then decide how much money you want to wager on a specific outcome. The amount you wager will determine your potential payout.
Outcome decided
If your bet wins, the sportsbook pays out according to the odds you locked in when placing the bet. The payout is calculated by multiplying your stake by the odds. If your bet loses, you forfeit your stake.
Example: If you place a $100 bet on Team A at 2.00 odds and they lose, you lose your $100 stake. However, if they win, you receive a total return of $300, which includes your original $100 stake and a $200 profit.
Fixed odds betting vs. live betting
Feature | Fixed Odds Betting | Live Betting |
When odds lock | At bet placement | Continuously during play |
Best for | Pre-match bets | In-game wagers |
Risk Level | Lower | Higher |
Opportunities | Simple, steady betting approach | Dynamic markets like “next goal” or “next point” |
Strategy | Research before betting | React quickly to game shifts |
Types of fixed odds bets
1. Moneyline bets
This is the simplest fixed odds bet, where you bet which team or player will win the game. It can be 2-line or 3-line.
Example: In a boxing match, if Fighter A has odds of +150 and you bet $100, you’ll win $150 if Fighter A wins.
2. Point spread bets
In point spread, you bet on the margin of victory, not just the winner.
Example: In an NBA game, Lakers -6.5 means they must win by at least 7 points for your bet to win. If you take the other team at +6.5, they just need to lose by 6 points or fewer.
3. Totals (over/under) bets
Instead of choosing a winner, you predict whether the total score will go over or under a set number.
Example: In a soccer match, if the total is set at 2.5 goals and you bet “Over,” the teams must score 3 or more combined goals for you to win.
4. Proposition (prop) bets
Props are bets on specific events within a game, such as which player will score first or how many rebounds a basketball star will grab. This is especially popular in high-profile events like the Super Bowl.
Example: Betting on who will score the first touchdown in an NFL game or how many three-pointers a basketball player will make.
5. Futures bets
Futures involve betting on outcomes that will be decided later in a season, like who will win the Premier League or the NBA championship. For more insights, check out our guide about future bets.
Pros and cons of fixed odds betting
Pros:
- Locked-in payouts, no surprises
- Simple to understand
- Predictable risk vs. reward
Cons:
- Odds may move after you place your bet
- Fewer opportunities to exploit live momentum
Strategies for bettors using fixed odds
- Shop for the best odds: Compare odds across sportsbooks to find the best price.
- Bet early when confident: Lock in favorable odds before market movement.
- Time bets strategically: If markets tend to move, waiting can also yield better odds—timing is key.
- Use bankroll management: Set a fixed percentage of your bankroll for each bet to limit risk.
- Track closing line value (CLV): Compare your locked-in odds to the final market odds to measure betting efficiency.
- Stick to markets you understand: Focus on sports or leagues you can analyze deeply.
- Avoid emotional betting: Base wagers on data, not gut feeling.
Conclusion
Fixed odds betting provides clarity, stability, and control, making it an appealing choice for bettors who want control over their wagers.
Locking in payouts from the start removes uncertainty and allows for better planning. Whether you’re betting on moneylines, spreads, or totals, understanding how fixed odds work helps you make smarter, more confident wagering decisions.
Frequently asked questions
What happens if a game is canceled or abandoned?
If a match is canceled or abandoned, most sportsbooks void the bet and refund your stake. However, it's essential to check the specific terms and conditions of the betting platform.
Are fixed odds available for all sports?
Yes, fixed odds betting is available for a wide range of sports, including football, basketball, tennis, and horse racing. The availability may vary depending on the sportsbook and the event.
Can I use fixed odds betting for international events?
Yes, many sportsbooks offer fixed odds for international events. Ensure that the betting platform covers the specific event and location you're interested in.
How are fixed odds different from pari-mutuel betting?
In fixed-odds betting, your payout is locked in when you place the bet. In pari-mutuel betting, payouts depend on the total pool of wagers and are only finalized once betting closes.
What does “closing line value” mean in fixed-odds betting?
Closing line value (CLV) measures whether the odds you locked in are better than the odds available at game time. Consistently beating the closing line is a sign of long-term betting efficiency.