On this page, we explain a betting strategy using Odds-on Favorites and discuss some precautions when trying it.
1. What Is An Odds-On Favorite?
An "odds-on" favorite is a selection in which the money you wager returns less than the amount you bet.
For example, if you bet $100 but win less than $100, an "evens" bet will give you the same amount of money as your wager, but an "odds-on" bet will give you less. Here's a simple example: 1/3 = Three to one ON. This means that to win $10, you must bet $30. As a result, you'll get back less than what you initially staked.
2. Where Do We See Odds-On Betting?
Everywhere, especially in team sports and tennis. For example, you may see a fixture like this in the English FA Cup: Manchester City vs Cheltenham FC.
For almost everyone – the fans, the bookmakers, and the punters - it is very obvious that Manchester SHOULD win this football match. A few possible reasons are:
a) Manchester City are in the Premier League and Cheltenham FC are in Championship League 3
b) Manchester City are playing at home
c) Cheltenham FC have never beaten Manchester City in a competitive game
So, bookmakers would probably offer odds that look something like this:
Manchester City to win 1.05(1/20)
Draw 9.00(8/1)
Cheltenham to win 17.00(16/1)
This means that if you bet on Manchester City, you would have to bet a lot of money to return a small amount. If you bet $100 and Manchester City win then you will return $105 – a profit of $5 (plus your original bet)
3. Why Would Anyone Bet On Odds-On Favorites?
Betting on "odds-on" favorites can sometimes feel like a waste of money because the returns are often tiny. You usually need to gamble a lot of money for a profitable return.
Also, the risks can often seem too high for such small returns; losing after gambling on a favorite can be very disappointing and annoying.
It's worth noting that a return of $5 on a $100 bet, while seemingly small, is actually a 5% profit. This is a figure that many punters find useful when comparing it to the returns from a typical bank investment.
People who gamble on long odds-on favorites believe their money is "safe" and it pays back more than a bank. For these types of gamblers, it is worth doing as it is profitable.
4. Using Odds-On Betting Strategy
With the following system of strategic betting, you may be able to earn profitable returns while keeping your risks low.
It comes from the old idea that “over time, a dripping tap will fill a bucket.”
This betting strategy is a long-term investment plan that requires patience, knowledge, and the ability to bet on many different sports.
However, some sports should be avoided at all times when placing large amounts on “odds-on” favorites.
Guidelines For Using The Strategy
If you follow any betting strategies you find here or elsewhere online, or fellow punters recommend to you, or discover on your own, you will often see or make “guidelines” that are recommended.
Here are some for this strategy:
- Start with a fixed amount – if possible – a minimum of $1000.
- Only bet on odds on favorites.
- Place at least one bet a week. (The more you do a week the quicker your total will increase)
- Only gamble 10% or less of your “total” amount.
- Do not place bets on horse racing, F1 or golf events.
The system operates on a simple principle: It's advisable to wager 10% or less of your total fixed amount and to select odds-on bets that you believe will almost certainly win.
You can also look at different bookmakers' odds as sometimes odds-on prices differ.
Rugby, cricket, football(soccer), tennis, American Football, basketball, baseball, and ice hockey are the most profitable odds-on bets.
Golf and F1 should be avoided as there are too many variables—for example, the weather—that can strongly affect the result and make things too risky to bet odds on. Use F1 and golf to find value bets instead.
Odds-on betting is also not recommended in horse racing for too many reasons.
What Happens When You Follow The Strategy
The following table shows what happens if you gamble on odds on football, cricket, American football, ice hockey and rugby matches.
| No. | Betting Fixture | Odds | Bet | Return | Total |
|---|---|---|---|---|---|
| 1 | Football Celtic to Win (Saturday) |
1.20 (1/5) |
$100 | Win $20 | $1120 |
| 2 | Football Chelsea to win (Sunday - afternoon) |
1.33 (1/3) |
$112 | $37.33 | $1157.33 |
| 3 | Football Barcelona to win (Sunday - night) |
1.25 (1/4) |
$115.73 | Win $28.93 | $1186.26 |
| 4 | American Football New England Patriots to win (Monday) |
1.57 (4/7) |
$59.31 (5%) Risk is high | Win $33.89 | $1220.15 |
| 5 | Ice Hockey Chicago to win (Tuesday) |
1.57 (4/7) |
$61.00 (5%) | Lose $61.00 | $1159 |
| 6 | Football Spain to win (Friday) |
1.13 (1/8) |
$115.90 | Win $14.49 | $1130.39 |
| 7 | Cricket Pakistan to win (Saturday) |
1.33 (1/3) |
$114.00 | Win $38.00 | $1152.00 |
| 8 | Rugby New Zealand to win (Sunday) |
1.10 (1/10) |
$115.20 | Win $11.52 | $1163.52 |
| 9 | Football Bayern Munich to win (Tuesday) |
1.25 (1/4) |
$116.35 | Win $29.09 | $1192.61 |
| 10 | Football Celtic to win (Wednesday) |
1.10 (1/10) |
$119.26 | Win $11.93 | $1204.54 |
You can see that after gambling on “odds-on” favorites only and not betting more than 10% of the total value, the profit is over $200 within just ten bets.
That also includes a losing bet—note that 5% was also bet where the odds offered were higher than 1/3. Higher odds on bets carry a slightly higher risk, and the result is less certain, so it is sometimes a good idea to reduce the stake (the amount you bet) for some fixtures.
Remember, 'A winner is a WINNER – no matter how small the return!' Every win, no matter the size, contributes to your overall profit. Over time, these small wins can add up significantly.
Conclusion
Betting odds-on favorite means estimated profits are less than your stake amount. In other words, the odds price is smaller evens(2.00) you bet. Generally, the term would indicate betting for odds around 1.10~1.30. You will often win and stack profits up by picking such odds only.
But be careful; bookmakers' odds do not show the actual probability, so you must research news and data before you bet and choose liable markets only. And, this is a more crucial precaution; most bookmakers might limit your account if you bet small odds only and keep a winning streak long-term, so we highly recommend you use this strategy with 2 or 3 betting accounts to disperse risks. Good Luck!
