Outright betting is offered on any sports event that involves three or more competitors, and is one of the most popular betting types. Outright betting markets are typically the first to be offered on any event, and are often kept open for the duration of the event. They’re also sometimes called “win” or “winner” markets.
How outright betting works
In an outright betting market, odds are set for each competitor in an event. Before the event starts, the odds reflect the form of each competitor relative to the other competitors. During the course of the event, the odds may change to reflect each competitor’s performance.
On a horse racing betting slip, for example, the letters “SP” may display for a contestant instead of an odds value. These letters stand for the “starting price”, which refers to the contestant’s odds at the time when the race starts.
Football outright betting example
A market is offered on the Champions League winner for next season. A popular bookmaker like bet365 or William Hill offers odds of 2/1 on FC Barcelona winning the title. If you choose to back the club at these odds and Barcelona win the Champions League, your bet wins and you’ll be paid out at 2/1.
Antepost outright betting
Outright betting is offered in antepost markets, which let you bet on event winners before the events are due to start. The odds on these markets may be more in your favour than those in outright markets just before an event. This is because bookmakers can’t take possible future changes in form, fitness, team players or other last-minute conditions into account.
Antepost markets may offer prices before the full competitor list for an event has been confirmed. Typically if a competitor you’ve backed doesn’t compete in the event, your bet will automatically lose.
When to bet on outright markets
In some sports, like racing, outright markets are the most popular betting markets and the most effective way to bet. Consider placing outright bets if you’re a follower of the sport and have a good sense of the capabilities of each contestant in an event.
What to take into account for outright betting:
- Tournament/event duration: A bet on a daily race will be paid out almost instantly, but a bet on a football or rugby championship will tie up your stake for as many weeks or months it takes for the event to be completed and produce a winner.
- Non-competitor refunds: For certain sports, bookmakers sometimes offer to refund your stake if a selection you back fails to compete in an event. This is most common in horse racing, with “no-runner, no-bet” offers on major outright winner markets. Keep in mind that these refunds are usually offered within a month or so of an event. They’ll rarely apply to bets you place several months in advance, which put you at greater risk of losing due to a competitor pulling out.
- Personnel changes: If you’re betting on a sports team ahead of an event, keep a sharp eye on injuries and the transfer market. An injury or imminent transfer of a key player or manager at a club can easily shake up the outright odds market for an event.
- Trends: In team sports like football, a relatively small selection of competitors routinely takes top honours over an extended period. An example is the Football World Cup, which has been won by just eight of the over 70 teams that have contested it. For outright betting, it’s important to review tournament histories to identify definitive trends. Avoid speculative bets on higher-odds teams with no previous wins.