Have you ever bought a lottery ticket and won a small prize after getting a few numbers correct? Not sure how fixed odds work?Wouldn’t be great if you would know the exact winnings in some lottery, without needing to share the prize with somebody else? You’ve come to the right place! We’ll be running through how all these terms apply to betting on lotto and lucky numbers, especially for South Africans.
If you played only big, national lotteries in your life, you probably know nothing about fixed odds lottery games. National lotteries are usually pari-mutuel, which means that the amount of cash prize depends on the number of players and winners. In other words pari-mutuel is the prize pool that punters contribute towards. The prize amount from this pool is divided equally among the winners in this system.
How it works with Lucky Numbers betting
The fixed odds lottery games are different in that regard. Those are usually lotteries with fewer players, with all winning independently from one another. So, it doesn’t matter if somebody wins in the same game with you – you will both get a fixed return on your bet, which is practically the most basic explanation of this type of lottery. For example betting on number 7 will always give the same payout if the number is drawn, additionally picking 6 correct numbers will always have the same payout.
There is also no limit to how many times you can win in a single lottery draw. For example, even if you bought three lottery tickets or played them online, with the same winning lottery numbers, you would win the triple prize. If you played on a pari-mutuel system, the prize amount would be divided with the number of tickets with the same winning lottery numbers. So with fixed odds games your winnings are always guaranteed.
At most of the online lottery providers, you can see fixed odds and therefore a prize for each winning bet. You should be able to see standard bet cost as well, so you can plan your bets better.
Fixed Odds Betting Lotteries
There are several basic types of fixed odds lottery games. Usually, those are daily games, or lower prize tiers games. They can be with a boost and without a boost. Depending on the type, the standard bet cost and the fixed prize amount will change. You can find several South African sites offering fixed odds lotto betting here.
The most famous types of fixed odds lottery games are the UK49s, South African lotto, Spanish Daily (with or without a boost), Euro Millions and Euro Jackpot. We hope you found our how fixed odds works article helpful, if you’d like to know more about the subject let us know in the comments below.