Fixed Odds are the current fixed price for an event or runner at any given time.
The price you see is the price you’ll be guaranteed no matter what happens to the price after you have placed your bet. Fixed odds betting is very common in online betting as most bet types incorporate fixed odds.
Fixed odds are used heavily in horse racing. There are many bet types in horse racing betting that use fluctuations in the fixed price at any given time to provide a more appealing product to the bettor, eg. Top Fluctuation. Horse racing betting also incorporates a pari-mutuel betting system, that is not used for sports betting.
The fixed odds betting example shows the fixed win and place prices as opposed to the tote win and place prices for three horses. The fixed win price for Winx is $3.80 if that product is selected, the bettor is guaranteed to receive the $3.80 price even if the price fluctuates. The Best Tote Plus price is only an estimate, and if selected, this price is only confirmed at the close of betting.
Both fixed odds betting and tote betting have their virtues. Many horse racing products that provide more value than fixed odds. At the top of the list is the Best of the Best betting product. However, when more useful products are not available, fixed odds prices provide certainty to the better, whereas the tote prices are always prone to fluctuation.
Fixed odds are the only prices available on betting exchanges. Although the exchanges operate slightly differently, in that bets are matched against other punters, the exchanges use fixed odds betting. The price that you take is the price you will be guaranteed no matter how the price fluctuates after the bet.
Every betting site uses fixed price odds for sports betting. It is also highly common for horse racing markets. When bookmakers offer bonus bets, they usually require that they are placed on a fixed odds market. When punters are trying to qualify for a bonus bet, by using a betting promotion, the conditions of the promotion normally stipulate that the horse racing bet is placed on a fixed odds market.