Pictured: Screenshot taken from Ladbrokes. au When should I take Fixed Odds? There are two optimal times to take Fixed Odds over the Tote: When markets first open; and in the last 30 mins before a race if you begin to notice good money being bet on a runner.

The following will attempt to explain why these are the optimal times to take Fixed Odds: When markets first open: occasionally when bookies put up their markets they get things a bit wrong - or at least, they fail to anticipate something. This is not their fault as oftentimes a big plunge or market move will not be driven by punters betting off form guides and exposed form: in all likelihood a betting plunge will often begin with the stable or connections thereof meaning the basis of the plunge is often buried in knowledge far beyond the scope of your average punter or even traders involved in the framing of markets.

An example of such a plunge would be in the case of an unraced and unsighted horse who opens at long odds and gets crunched immediately Pretty hard to tell that from a form guide! When a runner's odds are starting to tumble within 30mins of race time: If the race is less than 30 minutes away then the only options you have are Fixed Price odds or the "giddy goat", aka Tote notwithstanding special Tote betting products such as "Top Tote".

the betting shop has a built-in advantage. The most commonly played game is roulette. The minimum amount wagered per spin is £ 1 and the maximum is £2.

The largest single payout cannot exceed £ and this can limit the wager size e. the maximum wager on a single number on roulette at odds of is £2.

In May , the national government agreed with a reform campaign to cut the maximum bet for some games from £ to £2. The terminals allegedly lead some players into problem gambling. The Department for Digital, Culture, Media and Sport DCMS announced the policy change.

FOBTs typically include a touchscreen and a slot for depositing cash. The major hardware manufacturers for the UK market are Scientific Games Corporation and Inspired Gaming. Under current UK legislation, these machines are allowed to offer content classed as Category B2, Category B3 as well as Category C content.

The main article tabulates the legal maximum stakes and payouts. Shops are allowed up to four terminals, although this number also includes traditional slot machines. Most shops favour the new FOBTs over the traditional slot machines.

The Gambling Commission reports that there were 33, FOBTs in Britain's betting offices between October and September FOBTs have been criticised due to the potential for addiction when playing the machines.

They have been dubbed the " crack cocaine " of gambling by critics. Multiple bookmakers argued that the resultant loss of revenue could force them to downsize their high street operations with the industry estimating that 2, shops could be collectively closed : in July , William Hill announced plans to close shops, primarily citing the new regulation.

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Player B wins if the dice fall in any other combination, of which there are 35 possibilities. When making a bet in which one must put more at risk than one can win, one is laying the odds.

Rational bettors will do so only if the actual chances of an adverse outcome are low enough that the expected outcome even after deduction of taxes and any transaction costs is favorable to the person placing the bet. Laying odds is reflected in the colloquial expression "[I would] dollars to doughnuts " — with which the speaker is expressing a willingness to risk losing something of value in exchange for something worthless, because winning that bet is a certainty.

Bookmakers sell bets based on the odds of a specific outcome, but lay betting allows the bettor in some English-speaking countries, the "punter" to reverse roles with the bookmaker, using odds to sell the opposite outcome to the bookmaker.

In this context, "lay" is used in the sense of "layman", i. Favoured by bookmakers in the United Kingdom and Ireland and common in horse racing , fractional odds quote the net total that will be paid out to the winning bettor relative to the stake.

The term "fractional odds" is something of a misnomer, especially when visually reinforced by using a slash as opposed to, e. This fraction may be derived by subtracting 1 from the reciprocal of the chances of winning; for any odds longer than "even money," this fraction will be an improper one.

If the odds are read "one-to-four", or alternatively "four-to-one on " or "four-to-one in favor " , the bettor stands to make £25 on a £ stake. In either case, against or on , should he win, the bettor always receives his original stake back, so if the odds are the bettor receives a total of £ £ plus the original £ Not all fractional odds are traditionally read using the lowest common denominator.

Perhaps most unusual is that odds of are read as "one-hundred-to-thirty". Fractional odds are also known as British odds, UK odds, [5] or, in that country, traditional odds. Favoured in Continental Europe , Australia , New Zealand and Canada , decimal odds differ from fractional odds by taking into account that the bettor must first part with their stake to make a bet; the figure quoted, therefore, is the winning amount that would be paid out to the bettor.

It is considered to be ideal for parlay betting because the odds to be paid out are simply the product of the odds for each outcome wagered on.

Decimal odds are also known as European odds , digital odds or continental odds and tend to be favoured by betting exchanges because they are the easiest to work with for trading, in this case the purchase and sale of upside and downside risk.

Moneyline odds are favoured by United States bookmakers and as such, are sometimes called American Odds. Moneyline refers to odds on the straight-up outcome of a game with no consideration to a point spread. To convert fractional odds to decimal, take the fractional number, convert it to decimal by doing the division, and then add 1.

For example, the 4-to-1 fractional odds shown above is the same as 5 in decimal odds, while 1-to-4 would be quoted as 1. The method for converting moneyline to decimal odds depends on whether the moneyline value is positive or negative.

If the moneyline is positive, it is divided by and add 1. If the moneyline is negative, is divided by the absolute moneyline amount the minus signed is removed , and then 1 is added. Often called the "smart money", a big push for a horse is generally a good sign that the stable or someone connected to the stable thinks it's a pretty good thing.

By taking Fixed Odds, even if it has already trimmed a point or two or "dollar" or two the likelihood is it will either stay at that price or tumble further. In these instances the Tote represents a worse option because if the betting plunge is a sustained one then you will receive less than what you could have by securing Fixed Odds.

Which bookmaker offers the best Fixed Odds? There isn't really a concrete answer to this. The best answer we can give is to say you should be using an Odds Comparison tool to compare all the big bookies and then launch into whichever betting agency is offering you the best price. If you've never used one then check out our Odds Comparison tool , which covers every race in Australia - and plenty of overseas markets too!

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