The term fixed odds has several meanings, depending on the betting market. Implying that an event may be selected, favoring one or the other, not one of them. Whether the betting options are standard or exotic, the odds are fixed when the bookmaker accepts bets. For example, if +140 is a good odds for line betting, and the number drops to +125 before the game starts, players who bet at +140 will keep that odds fixed.
Lock in fixed odds for futures betting
Betting on Kansas City to win Super Bowl 54 is an excellent example of locking in favorable fixed odds. The Chiefs enter the 2019 season with +850 NFL championship futures odds. With eight teams still in the hunt ahead of the divisional playoff round, the Chiefs are at +350. Kansas City closed at -120, but bettors who bought preseason odds made $850 for every $100 wagered. Preseason futures offer solid fixed odds value.
Horse Racing Fixed Odds
In horse racing, fixed odds are announced before the race begins. Also known as ante-post odds, fixed odds are often more valuable than live track odds posted on the day of the race. A week before the 2019 Kentucky Derby, bettors had fixed odds of 80/1 on the long shot country house. On matchday, he was 30/1 to leave. Fixed odds 80/1 bettors earn $80 for every $1 wagered when jockey Flavien Prat wants the country house to win.
Advantages and disadvantages of fixed odds
The main advantage of locking in fixed odds is securing the odds in games where the odds or juice may increase. Opening odds are mainly true, as these are usually adjusted shortly after the first wave of bets. The main downside is being stuck with odds that are not as favorable as the closing line. This happens in NBA betting if you bet on the Los Angeles Lakers at -10.5 and the odds drop to -9 before kickoff.