Fixed odds bets mean that the odds you receive when placing the bet are locked in, regardless of any subsequent changes to the odds in the horse's favor or against it. This means that if the odds shorten, the bettor keeps the original higher odds, but also if the odds lengthen, the bettor does not benefit from the better odds. Reluctance should be shown in canceling a fixed odds bet because the bettor may be trying to place a new bet at better current odds. When a horse is quoted at odds below 1/1 or even money, such as 8/10, this represents an "odds on" favorite but the punter will not receive the full winnings due to a 6% tax deduction

1. Bookmaker’s Bets
Fixed Win
• Fixed odds means the price you get is the price you keep.
• Therefore if you back a horse at 5/1, and it shortens to 4/1, you still keep
your 5/1!
• Unfortunately it also means that if the horse goes to 6/1, you still keep
your 5/1.
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2. • On the Hollywood Internet site you can switch between fractional and
computer odds
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3. Why should you be reluctant to cancel a fixed win bet?
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Fixed Win
The punter may be trying to take a new bet at better odds

4. • When a horse is 8/10, this means that for every R10 you wager, you will
win R8, plus your R10 back. Is this true? Why not?
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• Any horse which is below 1/1 (even money), such as 8/10, it means that
the horse is ‘odds on’.
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6% tax is taken off the R8