What does best odds guaranteed meaning?

In the world of online sports betting, securing the best odds plays a key role in delivering maximum value to players. Odds not only reflect the probability of an event occurring but also determine the profit a player can receive. With fierce competition between bookmakers, choosing a bookmaker that offers the best odds not only helps increase your chances of winning but also optimizes your winnings. This is especially important for betting enthusiasts who want to ensure they are getting the best value for every bet. In the following article, Wintips will help you clearly understand the meaning of the best odds guaranteed, thereby helping you participate in betting better!

What is the Best Odds Guaranteed meaning?

Best Odds Guaranteed (BOG) is a popular betting promotion primarily available for horse racing and greyhound racing. It ensures that punters receive the best possible odds when placing their bets before a race. When a bettor places a wager at fixed odds before the race starts, but the starting price (SP) turns out to be higher, a bookmaker offering BOG will pay out at the better odds. This means you are always guaranteed the highest price available between the two.

Examples:

Suppose you bet on a horse at 3/1 (4.00) in the morning. If the SP increases to 5/1 (6.00) by the time the race begins, you will be paid at 5/1 instead of 3/1 if your horse wins.

Conversely, if the SP drops to 2/1 (3.00), you still get paid at the original 3/1 odds, ensuring you don’t lose value.

How Best Odds Guaranteed works

Best Odds Guaranteed (BOG) is an essential feature for any horse racing or greyhound racing enthusiast. It ensures that you always receive the best possible odds when placing your bets, giving you an extra advantage. To better understand how this works, let’s go through a detailed example.

Step 1: Placing your bet

Imagine you decide to place a £10 bet on a horse named Cherry and White, running at Haydock Park. At the time you place your wager, the odds for Cherry and White to win are 5/1.

At this point, without knowing what will happen before the race, you lock in these odds. If you are using a Best Odds Guaranteed bookmaker, you can rest assured that if the odds increase later, your payout will also increase accordingly.

Step 2: Odds fluctuation before the race

As the race approaches, the betting market starts shifting. Various factors such as:

Changes in weather conditions
Jockey and trainer updates
Market demand from other bettors

In this case, as more bets are placed and conditions evolve, the odds for Cherry and White drift upwards, meaning they become longer. By the time the race is about to start, the Starting Price (SP) has moved from 5/1 to 7/1.

This means that those who place bets at this later time will receive the improved odds of 7/1 instead of the initial 5/1.

Step 3: The race outcome

The race at Haydock Park begins, and Cherry and White perform brilliantly, crossing the finish line first! Your bet is now a winning bet.

Step 4: Payout without best odds guaranteed

If you placed your bet with a bookmaker that does not offer Best Odds Guaranteed, your payout will be based on the original odds you locked in at 5/1.

Payout calculation (Without BOG)
Winnings: £10 × 5 = £50
Original stake returned: £10
Total payout: £60

While you have still made a profit, you are missing out on the improved odds that occurred before the race started.

Step 5: Payout with best odds guaranteed

However, if you placed your bet with a Best Odds Guaranteed bookmaker, your payout will be based on the higher odds of 7/1, since the odds increased before the race.

Payout calculation (With BOG)
Winnings: £10 × 7 = £70
Original stake returned: £10
Total payout: £80

By simply using a bookmaker that offers BOG, you have earned an additional £20 compared to a standard betting site.

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Pros and cons of Best Odds Guaranteed in betting

Best Odds Guaranteed (BOG) is a highly attractive feature for bettors, particularly those who enjoy horse racing and greyhound racing. While it offers significant advantages, there are also some limitations to be aware of. Below, we break down the pros and cons of using Best Odds Guaranteed when placing your bets.

Pros of Best Odds Guaranteed

Maximize your returns: If you place a bet at a lower price and the Starting Price (SP) increases before the race begins, you will automatically receive the higher odds. This means you always get the best possible payout, even if the market shifts in your favor.
Missing out on better odds: If the SP shortens and becomes lower than the original odds you placed, you still get the initial odds. This ensures that you never lose value due to late market fluctuations.
Competitive advantage over standard betting: Many bookmakers do not offer BOG, which gives bettors who use it an edge over those who don’t. By taking advantage of this promotion, you can consistently secure better odds and higher payouts, making your betting strategy more effective over time.
Encourages early betting without worry: Typically, odds fluctuate based on market movements, insider information, and last-minute factors. With BOG, you can confidently place bets early without worrying that you might have secured a lower price than what becomes available later. This removes hesitation and allows for more strategic betting.

Cons of Best Odds Guaranteed

One of the biggest downsides of BOG is that it is mainly restricted to horse racing and greyhound racing. Unlike other promotions that cover a wide range of sports, BOG does not apply to football, tennis, basketball, or other popular betting markets. If you primarily bet on sports outside of racing, this feature will not be useful to you.

Most bookmakers set a maximum payout limit on BOG promotions. This means that even if your bet qualifies for significantly higher odds, you may only be able to claim winnings up to a certain threshold. High-stakes bettors need to check their bookmaker’s terms and conditions to understand these limits before placing large bets.

While many top-tier bookmakers provide BOG, not all of them do. This means bettors must be selective in choosing the right platform to take advantage of this feature. Additionally, some bookmakers may only offer BOG on specific races or during particular time windows, which can limit its overall effectiveness.

Best Odds Guaranteed FAQs

If you’re new to Best Odds Guaranteed (BOG) or simply want to understand more about how it works, we’ve compiled a list of frequently asked questions to help you make the most of this valuable betting promotion.

What sports do bookmakers offer Best Odds Guaranteed on?

BOG is exclusively available for horse racing at nearly all bookmakers that offer the promotion. Many betting sites also extend this offer to greyhound racing, but not all do.

If you’re unsure whether a bookmaker includes greyhound racing in their BOG promotions, check their terms and conditions or promotional pages.

Will I receive the payout from the starting price even if I use BOG?

Yes! When you use Best Odds Guaranteed, you are always paid out at a higher price if the odds drift.

If you back a horse at 5/1 and the SP drops to 3/1, you still get 5/1.
If the SP drifts to 7/1, you will get 7/1.

This makes BOG one of the best promotions for horse racing bettors, as it ensures you always get the best possible value from your bet.

Can I use Best Odds Guaranteed at big meetings like the Grand National?

Yes! Major racing events, including the Grand National and the Cheltenham Festival, are included in most bookmakers’ BOG promotions.

Since big racing events attract large betting volumes, bookmakers use BOG as a way to draw in more punters. However, it’s always a good idea to check individual bookmaker policies to confirm that the promotion applies to the race you’re betting on.

Are there any restrictions on Best Odds Guaranteed?

While BOG is a fantastic promotion, there are some terms and conditions to keep in mind:

Time restrictions: Some bookmakers require bets to be placed before a certain time (e.g., at least one hour before the race).
Stake limits: High-stakes bettors may have their BOG winnings capped by certain bookmakers.
Account eligibility: Bookmakers reserves the right to exclude certain accounts, particularly those flagged for arbitrage betting or professional play.

Conclusion

Above, we have helped you decode the meaning of the best odds guaranteed. Ensuring the best odds is not just a marketing tactic but also a commitment by bookmakers to bring optimal value to players. By providing the best odds, bookmakers differentiate themselves and build customer trust, ensuring that bettors will always receive the most competitive offers. However, players need to clearly understand the accompanying terms and conditions to take full advantage of these promotions. Not only does it provide higher profits for itself, but it also promotes a fair and attractive betting environment, contributing to the sustainable development of the online betting industry. Good luck with your betting!