Best Odds Betting Term Meaning
The betting term ‘best odds’ refers to the highest (best) price a punter can get for a specific bet when comparing the odds across multiple bookmakers.
All punters want the best odds possible when betting because it means you get more cash returned to you after landing a winning bet. There are several websites available which compare odds from a number of bookmakers. This makes finding the best odds on thousands of events and markets quick and easy.
To highlight the difference in returns when comparing a market, we selected the following horse. It’s important to note that ‘best odds’ does not necessarily mean the favourite. It can be any entrant that is available within the betting market - and you are searching for the bookmaker that is paying out the most.
Section: Hunter Fox
Race: 2:10 Chepstow
For this horse (in this race), Bookmaker C offering 5/2 (3.50 in decimal) is the best odds. The table below shows the possible returns based on these odds.
The difference between bookmakers C and B is only 0.25 which is only £0.25 per £1.00 wagered, yet as the stakes go higher, the profit margin increases as well. To consider this is just one single selection bet. If every bet you placed was at best odds, over the course of a month or year, you would end up with far more profit but for the exact same level of risk. This is why hunting for the best odds is a strategy used by many of the world’s top bettors.
Best Odds Guaranteed
A popular bookmaker promotion for horse and greyhound racing is ‘Best Odds Guaranteed’. This is slightly different from the explanation provided above. This promo refers to the price of a horse (or greyhound) when you place the bet and its SP (starting price). For example:
You place a bet at 1PM on Dunkin Delight which runs in the 4:05PM race at Newmarket
The price (at 1PM) was 4/1 (5.00)
Dunkin Delight drifts in the betting as the start of the race approaches
The SP is 11/2 (6.50)
If Dunkin Delight wins (or is placed depending on your bet), you get paid on the higher odds, which is 11/2 (6.50)