Odds changes are part of the betting industry and they change in reflection to certain scenarios. On this page, you’ll find out everything you need to know about odds changes, as well as what happens if odds change after a bet has been placed.
What Happens With Changing Odds?
Odds change regularly throughout the week in the lead-up to an event. If the odds didn’t change, then betting wouldn’t be fair on both the bookmaker and the bettor, as someone would be getting the upper hand in terms of the value being offered in the odds.
Odds can change to a smaller or greater price depending on many different factors, which we’ll discuss later on. Some betting markets have lower liquidity than others, which essentially means that the odds can change much quicker depending on how much has been staked on that market as a collective. Odds can also change before you place the bet, but the betting site has to let you know that the odds have changed and you will have to accept the odds changing before placing the bet.
In horse racing, odds changes are fast, and you can decide to take the SP (starting price) of a horse when it’s set to run. This means that you won’t have to worry about odds changes in the lead-up to the race, as whatever the SP is on that selection, you’ll be paid out with those odds if the horse wins.
In live betting, you’ll see prices changing regularly throughout the event taking place, as certain scenarios can favour a team or player to win a match. The odds will then be changed accordingly to react to that scenario, but if you place a bet with the bookmaker accepting the odds at a certain price, then they have to stick to the price displayed on the betslip, unless it’s a pricing error which a punter is trying to take advantage of.
If you’re unsure of how odds work, head over to our odds explainer page where our experts discuss it in more detail.
Changing Odds Example
Below, you’ll find some examples of odds changing on an online betting site. The examples we’ve provided are from Sky Bet on an in-play tennis match, and an in-play table tennis match. As you can see, it says the price has changed from 8/11 to 5/6. This will be because of something that is happening during the tennis match, be it a point being won, a set being one, or possibly due to other circumstances.
Can Odds Change After A Bet Has Been Made?
Odds may change after a bet is placed. The most common reason for this is during in-play betting when a team scores. Odds can also shift before a match or sporting event if factors affecting the likelihood of your bet’s outcome change, such as updates on team news.
What Happens If Odds Change After A Bet Has Been Made?
If the odds change on a betting market where you’ve already placed a wager, there’s no action required on your part. The odds displayed in the ‘My Bets’ section of the betting site will determine your payout if the bet wins.
If the odds change just before you place a bet on a market, you’ll have the option to accept the updated odds before proceeding. If the odds increase, offering a better potential return, you might choose to go ahead with the bet. Conversely, if the odds decrease, resulting in a smaller potential payout, you can decide whether to proceed or reconsider placing the bet.
It’s important to gamble responsibly and with funds that you can afford to lose. If you’re not doing that, then you should seek relevant help from the likes of Gambleaware.org.
Why Do Betting Odds Change?
There are many reasons why betting odds can change, and some are easier to understand than others. Below, we’ll take you through some examples of why betting odds change on a betting site.
Change in condition
One of the most common reasons for changes in betting odds is external factors like team or player updates or changes in the event venue.
For example, if a star player is unexpectedly set to return to a team earlier than anticipated, the odds may not initially account for their impact. A quick-thinking punter could take advantage of this by placing a bet before the bookmakers adjust the odds to reflect the star player’s return.
Amount Of Money Placed On A Betting Market
The betting odds are likely to change relatively quickly once a certain amount of money has been placed on a selection. This example is dependent on how much has been staked on a certain market.
Mainstream betting markets such as match result, goalscorer odds, and correct score don’t tend to see odds changes as quickly as markets such as statistical-based markets such as team shots and player passes during a match.
Price Errors
While less common than other reasons, odds can still change under specific circumstances on certain betting markets with particular sites. For instance, if bettors place wagers on a market that should already be settled or is incorrectly priced in their favor, the odds may be adjusted even after the bet is placed.
Low-liquidity markets, such as prop bets, are especially prone to such changes. A large wager on these markets could even lead to the temporary suspension of the market, allowing the bookmaker to review and adjust the odds accordingly.
Market confidence
With more information coming to light in the build-up to events, betting companies will become more confident in their odds and will alter them to reflect their confidence on the outcome happening.
Should I accept odds changes?
If odds change whilst you are placing a bet, you typically have to accept the price changes if the bet has not been placed yet. The odds never drastically change, so accepting the odds changing in these circumstances is not a bad thing. It is fine to accept the odds changing, but if you want a bet closer to the odds that you saw in the first place, then you may have to look to a different market to find it.
Can odds vary depending on what betting site you are using?
Yes, not all betting sites and bookmakers don’t have to have the exact same odds for the specific race, match or event you want to bet on. For example, if Liverpool were playing Manchester United, the odds could be 11/10 for Liverpool to win on one betting site, but 23/10 for Liverpool to win on another. Typically, the odds are pretty similar across all betting sites.
What happens to the odds if a selection in your accumulator bet is voided?
Your accumulator will still be live if one selection in the bet is voided, as you will still have other live selections that can still win or lose. The odds will change for such a bet if this happens, they will be slightly reduced as you require less selections to win in order to win your accumulator bet.
There are many things that could void a bet, and we have provided the main factors which can void a bet below.
- Event Cancellation: When the event you’ve bet on is canceled or postponed and isn’t rescheduled within a set timeframe.
- Participant Withdrawal: In individual sports, such as tennis, if a player withdraws before the match concludes.
- Technical Errors: When there’s a mistake in the odds or the placement of the bet.
- Rule Violations: If the bet is placed on a market that breaches the bookmaker’s terms and conditions.
- Changes in Event Conditions: Situations like an abandoned or shortened football match that impact the outcome.
- Cash-Out Errors: When issues arise with the cash-out process, leading to incorrect settlements.
- Duplicate or Mistaken Bets: Bets placed in error or duplicated, which may be voided by the bookmaker.
FAQs About Odds Changing
Yes, the odds can change after a bet has been made. But the odds you placed your bet on will stay the same. In horse racing, some sites use ‘best odds guaranteed’, so punters don’t miss out on big changes.
Horse racing odds are somewhat unique, especially in the build up to a race. This is because the odds of a horse could decrease due to the more money placed on on a horse, the lower the odds will be. Due to this, the horse racing odds can change until the race begins.
Fixed odds are odds that allow any bettors to secure their betting selection at odds that are not able to change at all. You may see the odds of your selection change post betting, but with fixed odds, this change will not effect your bet.
Odds can change for many reasons, with bookmakers able to adjust odds depending team performances, the amount of money placed. Even certain factors like big players being injured in team sports could see bookmakers adjust odds.
If the odds change after you place a bet, then all you have to do is what the odds were at the time you placed the bet. This means your potential payout will be based on the initial odds you saw when you placed the bet.