In the competitive world of sports betting, all of us bettors need to be looking for ways to maximize our potential returns. Best Odds Guaranteed (BOG) promotions are a specific offering designed to do just that, by offering you a guaranteed best price on your bets.
What is Best Odds Guaranteed?
Best Odds Guaranteed (BOG) is a betting promotion offered by bookmakers that ensures you will be paid out at the better of the early price you took, or the final Starting Price (SP). If the Starting Price (SP) is greater than the early price you took, your winnings will be calculated using the higher odds. If the starting price is lower, then your early price is honoured.
This promotional strategy ensures that punters always receive the best possible odds for their placed wager.
For bettors, it provides a form of price protection, knowing that you will not miss out on better returns by taking fixed odds too early. It also offers a guaranteed best price for your selection, through an enhanced payout system. This represents a highest odds guarantee.
How Does Best Odds Guaranteed Work?
Let’s look at the mechanics of the BOG offer:
- Early Price: A bookmaker offers an early price for a horse or greyhound. This early price is available at the time the bet is placed in the day or the hours leading up to a race.
- Bet Placement: You place your bet, accepting the offered early price. This price is recorded on your betting slip.
- Starting Price (SP): As the race begins, the Starting Price (SP) is recorded. This is the final odds at which a selection begins the race.
- Payout Calculation: If the SP is higher than the early price you took, your payout will be calculated based on the higher SP odds. If the SP is lower than the price you originally took, then your payout is calculated using the higher price that you accepted at the time the bet was placed.
Why is Best Odds Guaranteed Important?
The value of the BOG promotion for bettors lies in several key aspects:
- Protection Against Price Drift: Market movers, as well as negative news regarding a given selection, can cause the price of a given selection to increase. With BOG, you’re protected from seeing your initial bet value eroded, because you will always get paid at the best odds, even if the price increases after your bet is placed.
- Maximizes Potential Payouts: BOG enables you to take an early price and potentially get a better payout if the odds improve before the race.
- Adds Value to Betting: BOG significantly adds value to bets. It is always advantageous to bet with bookmakers who offer BOG. This value is increased where the odds comparison process is employed by the bettor.
- Enhances Strategic Betting: You can make more strategic decisions knowing you’re not penalized for placing bets early.
Using BOG to Improve Profitable Betting
When used in tandem with the concept of value betting, BOG becomes even more potent. By carefully reviewing the available odds, and accurately assessing the potential of an opportunity, punters can leverage BOG in the following ways:
- Value Bet and BOG: Place a bet at what you believe is a value price, knowing that the bookmaker is offering BOG.
- Improved Odds: If your selection’s odds increase after bet placement, the payout will increase as well.
- Reduced Risk: You can use the best odds guarantee to further improve on a bet you believe offers positive expected value.
Conditions and Considerations for Using BOG
It’s not all good news for punters and there are a few limitations to be aware of:
- Bookmaker Limitations: Not all bookmakers offer BOG. Be sure to check that a given bookie offers this promotion.
- Market Limitations: BOG is not offered across all markets, but is typically offered in horse racing and greyhound racing.
- Time Constraints: BOG may be limited to specific times of day.
- Terms and Conditions: Be sure to always read the specific terms and conditions of any betting promotion.
What Else In Betting Markets Has an Impact on the BOG Value?
Starting Price
The starting price (SP), also known as the official starting price, is the final odds for a bet at the beginning of a race or an event. It is usually determined by averaging the odds offered by multiple bookmakers and represents a market consensus.
This cocensus provides a standard benchmark against which bookmakers compete – a method for creating an official starting price that has been agreed upon by the market.
Fixed Odds and Price Stability
Fixed odds, also known as pre-match odds or set odds, represent the odds that were available at the time a bet was placed. These are locked in and will not fluctuate up or down. This is used to create a state of price stability.
This allows a bettor to place a bet knowing that the price that is taken at the point of bet placement will be fixed until the start of the event. This is also the initial odds, that provide fixed price betting. This represents pre-event pricing, using a technique that ensures odds stability.
Odds Fluctuation and Market Volatility
Odds fluctuation describes the way that odds movement and price variations may occur in the betting markets over time. These price swings are a direct result of market volatility and form the overall betting line movement in a market.
Understanding odds fluctuation will allow bettors to take advantage of times where a price may be particularly high or low in a specific betting markets.
Price Movement and Market Sentiment
Price movement is the directional shift in odds that is observed during trading in te run up to a event. By tracking this odds movement, we can begin to understand the direction the market is taking.
Changes in prices reflect how market sentiment may change over time. This also reflects overall market shifts that can be caused by the level of market liquidity.
Understanding the mechanism of price movement allows us to better appreciate the factors that influence price.
Pre-Event Odds and Market Assessment
Pre-event odds are also known as initial prices, or early bird odds, and are designed to represent a snapshot of the market. These fixed odds pricing models are also sometimes known as ante-post odds, and are designed to give an insight into the betting markets, before the event takes place.
How it Helps: An understanding of pre-event odds helps understand how the markets are working before the event.
Price Guarantees and Competitor Pricing
A price guarantee, also known as a price match, or a best price offer, is where a bookmaker offers a form of competitive pricing by agreeing to match the price of another bookmaker. This is also seen as an implementation of a best price promise, based on competitor price matching, and a guarantee that the bettor will have a guaranteed price offer.
Summary & Key Takeaways
In summary, Best Odds Guaranteed promotions are a valuable tool for sports bettors, allowing them to secure the best possible returns by locking in fixed odds but also benefiting from any increases in the starting price, should this occur.
This represents a way of reducing the risk of taking an early price, and maximizing the overall potential from a given betting opportunity.
Key takeaways include:
- Higher Payouts: Benefit from the higher of the fixed or starting price.
- Price Protection: A guarantee against taking an early price and missing better odds.
- Risk Reduction: Allows you to place bets without worrying about price movement.
- Enhanced Returns: Offers increased profitability on your winning bets.
- Strategic Betting: Allows for greater flexibility and confidence when betting.
By understanding and utilizing Best Odds Guaranteed promotions, bettors can ensure that they are always in the best possible position to take advantage of any opportunities that may arise.
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