What is Fixed Odds Horse Betting

Fixed odds horse betting might be the best way to bet the horses.

Fixed Odds Horse Betting

Avid sports bettors rely on fixed odds wagers to calculate their potential return on investment. This gets a bit tricky when it comes to betting on horse races using traditional pari-mutuel odds at the track.

Betting pools ahead of post time determine the actual betting odds right before the race gets underway. This form of pooled money betting creates a possible scenario where the horse you bet at 4-1 odds prior to the race was actually bet down to 2-1 odds  just before post time.

When horse racing’s biggest betting events of the year roll around such as the annual Kentucky Derby. Most online sportsbooks will post fixed odds betting options on their board. For example, through a horse racing futures odds market for the Kentucky Derby, you can lock-in your odds for picking a winner.

Your Bet Won’t Be Impacted

Regardless of what happens on Derby Day at Churchill Downs, or with all the other money bet on this race. The potential return on your bet will not be impacted by the ever changing pari-mutuel odds on the track betting board.

This is just one example of how fixed odds can enhance the entire horse betting experience at today’s top-rated online sportsbooks.

Picking the outright winner of a major graded stakes race through fixed odds takes in most of the action at online books. However, there are some other available betting markets for the sport’s biggest races of the year.

Have you been watching the Stanley Cup Playoffs? How are your bets doing? Maybe you need to check out our article on NHL Postseason betting action.

Big Field at the Derby

As the biggest betting horse racing betting event of the year. The Kentucky Derby also boasts one of the biggest fields for any race. Open to the best three-year old Thoroughbreds, as many as 20 horses will compete in this race.

With a field that stretches that wide across a horse track. The degree of difficulty in picking a straight-up winner increases even if you are going chalk on the favorites. As an excellent way to broaden your racing strategy, online sportsbooks will post fixed odds for individual head-to-head matchups.

Live horse racing provides some of the most exciting minutes of all wagers.

The horse you bet on does not have to win the race or even finish in the money to cash a winner. They simply have to finish in a better position on the track against the horse they were pitted against. Fixed money line odds for each horse race pairing determines the favorite and the underdog in that particular matchup.

Fixed Odds Horse Betting – Head-to-Head

Any bet on a head-to-head matchup wager is locked in through the use of fixed odds when the bet is placed. In the days leading up to the Kentucky Derby, the betting options on the boards at online sportsbooks will also expand through the use of racing props. 

For horse racing’s biggest events such as the Kentucky Derby, can also bet on prop options covering different aspects of the race such as the actual margin of victory, winning time and odd or even number for the winning horse. The list goes on with the only restrictions being the imagination of the oddsmakers releasing the props.

Given today’s innovative approach to betting on horse racing, you can create an entire betting strategy for the Kentucky Derby through your favorite online sportsbooks without the use of a racebook app. Fixed odds for these racing markets help you calculate betting value against a set return on the wagers you place.