Wagering or betting is all about understanding the odds and payout involved in any casino game. Before a person places his or her money on a bet, he or she usually analyze the odds of winning, measure up the options and then go for it. But, it can certainly get difficult for you to remember the odds associated with the casino games and sports betting games when there are plenty of options to choose from. Thankfully, with the presence of fixed odd betting games it has become easier for the betting fans to keep an account of the odds associated with a number of games. So, what are fixed odd betting?
Fixed Odds Betting
Well, in simple words it means that games which always offer the same odds are known as fixed odd betting games. There are a lot of games in the world of casino that always come with the fixed value of odds. For example, the single betting option in the game of roulette always offers the same odd of 35:1. Similarly, the seven betting system in the game of crap offer the fixed odd of 4:1. Nevertheless, there are some games in the casino world whose variations may not offer fixed odds. For example, some variations of the blackjack game offer variable odds. On the other hand, it is important to notice that the payout is still the same in that case. The only thing that changes is the possibility of winning the game. In straight words, only the odds change, not the payout. Now, let us take a look at the different types of fixed odd betting.
What Are The Types?
There are mainly four types of fixed odd betting systems. They are –
Fractional odds: These types of fixed odd betting games are usually preferred by the bookmakers, and they are more popular in the Ireland and the United Kingdom. You might have already guessed that in this case the odds are in fraction. The most perfect example of this type of betting is horse racing. For example, if a game offers you an odd of 4/1 (referred as four-to-one) then it means that you have a chance to win $100 on a $25 stake. So, the total amount you will receive at the end is $125. Games that offer fractional odds of 1/1 are categorized under even money.
Decimal odds: Casino or sports betting games that offer odds in decimal value are termed as decimal odd betting games. This type of odds is more popular in the regions like Canada, New Zealand, Australia, and Europe. This is the reason why it is also referred as European odds. Though decimal odds and fractional odds offer the same payouts, but they differ in terms of basic definition. In decimal odds, if you place a bet of $100 on a game that offers decimal odd of 1.25, it means that you will get $125 upon winning the bet. So, these types of fixed odds betting are easy to understand.
Moneyline odds: This type of betting odds is more popular among the American bookmakers as it offers just two possibilities when it comes to the outcome. The options are either positive or negative. Sometimes, Moneyline odds are also called as American odds. In simple words, it is the straight-up result of the game without considering the system of point spread.
Even odds: These types of fixed odds are referred as +100 or -100.
Popular Games Under Fixed Odds betting
Below are some of the popular games that come with fixed odds betting system; so take a look if you want to play any:
- Roulette – Both versions of roulette game that is the American roulette and European roulette offers fixed odds when it comes to betting.
- Craps – There are a number of betting types available in this game, such as Pass/Come, Don’t Pass/ Don’t Come, etc. and the odds associated with them always remain the same.
- Poker – It is certainly the most popular option in the category of table games that offer fixed odds betting. Some versions of the poker games offer variable odds.
- Keno – this lottery game offer up to 20 different odds value for its 20 tickets. But, they are fixed.
- Bingo – This game always come with the same odds when it comes to betting. So, it does not matter where you are playing, the odds will always remain the same.