The best way to explain the concept of fixed odds betting is to delve a bit into the history of sports betting – and specifically, the history of “odds”.
Fixed odds date all the way back to the 19th century and to the humble beginnings of football gambling. History suggests that the very first fixed prizes offered in return for a correct prediction of any given game-related outcome, were offered by local newspapers in the 1880s. This should however not be confused betting on sports in general. For our purpose, we will deal specifically with the history of fixed odds betting.
The prizes offered by these newspapers became known as fixed odds.
Match Bets For A Start
Today, licensed bookies still offer fixed odds betting https://sportsbetafl.net/tips/, or in other words, fixed prizes for correct match predictions.
There are countless types of fixed odds betting markets available right now – with most of these suited to the complete range of sports that fixed odds betting attracts. As for the most common of these, this would have to be match betting. Whenever a standard match bet is offered by a bookmaker, winnings odds will typically be made available for both teams. The wager will, based of course on the outcome of the match, either a emerge a winning or a losing wager.
Since a significant number of football matches end in a draw, match bets offered on football are particularly popular among bookmakers. In the event of a draw, only the “draw” bet will yield a return.
There is an occasional exception to the rule. In such an event, bookmakers may decide to reduce the 3 possible outcomes for a football match two only 2 possible outcomes. This is known as “Double Chance” betting, with a single price offered by the bookmaker for a win or a draw. In the event that the bettor has placed their wager on the winning team, it’s a win. And in the event that the bettor as placed a wager on a draw, then the outcome is also regarded a win. The bigger of the two bets will in such an event be paid to the bettor.
Simple Vs. Multiple
As for which fixed odds bets are the simplest of all, it would have to be the single bet. Whenever a single bet is placed on a sports event, only a single outcome is backed by that bet. Single odds too, are generally available for nearly ever sporting competition known to man.
Multiple bets, on the other hand, involve more than one bet-selection. Doubles too, are popular football bets. The definition of a double bet is that it is one bet wagered – but on two selections forming part of two different events. In order for the double bet (multiple bet, parlay bet) to succeed, both must be winning bets, i.e. accurately predicted.
The nature of the multiple bet means that the greater the number of selections the bettor has to choose from, the greater the number of combinations that can be made in that bet.
