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Fixed Odds
sports bettingA betting system where the odds are agreed upon at the time the bet is placed and do not change.
Key Takeaways
- 1Fixed odds are locked in when you place the bet
- 2Line movement after your bet doesn't affect your payout
- 3This creates opportunities to capture closing line value
- 4Most sports betting uses fixed odds
What are Fixed Odds?
In a fixed odds betting system, the odds are locked in at the time you place your bet. Regardless of how the line moves afterward, you get paid at the odds you took.
Fixed Odds vs. Parimutuel
| Feature | Fixed Odds | Parimutuel |
|---|---|---|
| Odds locked at | Time of bet | After all bets are in |
| Used in | Sports betting | Horse racing, lottery |
| Odds set by | Bookmaker | Total betting pool |
| Can shop for better odds | Yes | No |
Why Fixed Odds Matter
Fixed odds create opportunities for sharp bettors. If you bet a line early and it moves in your direction, you've captured Closing Line Value — a key indicator of long-term profitability.
Example
- You bet Chiefs -3 at -110 on Monday
- By Sunday, the line is Chiefs -5 at -110
- You still get paid at -3, which is now a much better number