If you’re new to sports betting in the UK, you’ve likely come across terms like fixed odds and spread betting. While both offer ways to bet on football, horse racing, NFL, and other sports, they’re very different in structure, risk, and potential reward. Understanding the difference is essential before placing your first bet.
What Are Fixed Odds?
Fixed odds betting is the most traditional and widely-used form of betting. When you place a fixed odds bet, the odds are set at the time you place the bet. This means you know in advance exactly how much you’ll win or lose. For example, if you back a horse at 5/1 with a £10 bet, you’ll win £50 profit plus your stake if it wins. If it loses, you simply lose your £10.
This type of betting is straightforward, especially for beginners. It’s used across nearly all sports and events, including football, horse racing, and NFL matches. Whether you’re backing a football team to win, betting on the total number of goals, or picking the outright winner of the Super Bowl, you’re likely using fixed odds.
What Is Spread Betting?
Spread betting, on the other hand, is a more advanced and riskier form of betting. Instead of betting on a specific outcome, you bet on the margin by which an outcome will vary. The more right you are, the more you win—but the more wrong you are, the more you can lose.
Let’s say a spread betting company predicts that a football team will win by 1.5–2 goals. If you think they’ll win by more, you “buy” the spread. If you think they’ll win by less (or lose), you “sell” the spread. Your profit or loss is calculated by how far the actual result is from the spread, multiplied by your stake.
So, if you stake £5 and the team wins by 4 goals, beating the spread by 2, you win £5 × 2 = £10. However, if they only win by 1, you lose £5 × 0.5 = £2.50. If they lose, your loss could be even greater.
Key Differences
- Risk: Fixed odds offer limited risk—your maximum loss is your stake. Spread betting has no fixed limit, and losses can exceed your initial bet.
- Complexity: Fixed odds are simple to understand. Spread betting requires a deeper understanding of the sport and the betting market.
- Payout potential: Fixed odds give set returns. Spread betting offers potentially higher profits—but also greater losses.
- Regulation: Spread betting is regulated as a financial product in the UK, and not all bookmakers offer it.
Which Should You Choose?
For most beginners, fixed odds is the safer and simpler choice. It gives clear terms and limits your losses. Spread betting is better suited for experienced bettors who are confident in predicting not just outcomes, but margins.
Final Thoughts
While both fixed odds and spread betting have their place in the UK betting scene, they cater to different levels of experience and appetite for risk. Make sure to understand how each works before diving in—and always bet responsibly.