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Best Betting Sites UK / Reviews / Betfred Review / Betfred Odds: A Comprehensive Analysis for Informed Betting Decisions

Betfred Odds: A Comprehensive Analysis for Informed Betting Decisions

Last Updated on 24/05/2024
Fact checked by: Mike McKean

Welcome to our guide to Betfred odds and markets, where we reveal all about the benefits and drawbacks of betting with this reputable bookmaker's odds across a range of sports and games.

Throughout this article, we'll not only explain exactly what odds are, but provide guidance and tips from our experts so that you can get the most out of every wager you place. We'll also go into detail about how Betfred odds differ by sport and tell you exactly how the operator's guarantee works. Read on to learn more.

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History of Betfred odds

Betfred is one of the industry's leading sportsbooks in the UK today and has been providing betting odds for more than five decades. In fact, since the brand was launched in 1967 in Salford, the company has evolved from a handful of retail betting shops to a global internet bookmaker. Through both outlets, the operator now provides thousands of daily odds 24 hours a day, seven days a week. Read the Betfred review to discover more about the brand in greater detail and what the operator offers in terms of products and promotions.

Betfred odds types explained

Betfred odds are available in three types; fractional, decimal and American. You can switch the odds format at any time using the settings control panel on site. Whilst all of the available odds offer the same value and returns, there are distinct differences and attributes to them and how they are interpreted.

1. Fractional

The default setting of Betfred odds across all sports is fractional. In simple terms, there are two numbers separated by a line. The first number represents the potential returns excluding your stake, and the second represents the bet amount. For example, if you were to navigate to the Betfred football category and bet on Arsenal to win the Premier League outright at odds of 7/1, you would get £7 back in potential profit for every £1 you bet.

2. Decimal

Decimal odds are more common in parts of Europe than in the UK, but are still readily used at various bookmakers. The higher the number, the less likely the outcome has of happening. Therefore, favourites are represented by lower decimal numbers in match-ups and head-to-heads. You can work out your returns by simply multiplying your bet amount by the odds displayed. For example, a £10 bet on a horse with odds of 1.80 will return £18 if successful.

3. American

Odds are available in American format and the numbers displayed are accompanied by a plus (+) or minus (-) symbol for underdogs and favourites respectively. The odds are based on calculations with a bet of $100. Negative odds show how much you would need to bet to return $100, whereas positive odds show how much you would get in returns if you were to bet $100.

How to calculate probability using odds

Every sport, event, match and competition that has odds assigned to an outcome is based on probability. The odds offered by Betfred represent the likeliness of an outcome happening based on a number of factors. For example, in any football match, there are typically three outcomes, including home win, draw or away win. Each outcome is assigned a probability that you can calculate as a percentage and use it to make your betting selections.

Using fractional odds, add the numbers from the odds together then divide one by the total. Multiply the number you get by 100 to calculate the odds probability percentage. For example, odds of 3/1 are calculated as 3 plus 1 = 4. 1 divided by 4 = 0.25. 0.25 multiplied by 100 = 25%.

Top Betfred odds to look out for

Bookmakers in the UK are known for specialising in particular sports so that they can become the go-to brand for any leagues and competitions associated with them. At Betfred, there are five core sports that are popular to bet on.

Football

Hundreds of betting markets are available across domestic and international football matches, including the Premier League, La Liga, Serie A, World Cup and European Championship.

Golf

Bet on major and minor golf events from around the world and lock-in some excellent value-odds on competitions including The Masters, The Open Championship and Ryder cup among others.

Greyhounds

Place your bets and watch live streams of daily greyhound races from top tracks such as Sunderland, Crayford, Swindon, Romford, Belle Vue and Monmore. Odds are updated and refreshed right up until the hare's running.

Rugby

Rugby betting is extremely popular at this sportsbook site, particularly rugby league. This is due to the fact that the operator is the official sponsor of the Super League. Betfred rugby league odds are very competitive compared with other bookmakers and there is some excellent value available on top teams such as St Helens, Wigan Warriors and Warrington Wolves.

Horse racing - Betfred best odds guaranteed

Daily race meetings from racetracks in the UK and Ireland. Thanks to the ongoing Betfred best odds guaranteed promotion, you can take an early price on any selection and if the starting price returned is bigger, the operator will pay you at the bigger price. You can read more about this in the segment below.

How to use the Betfred best odds guarantee promotion

Using the promotion to guarantee the best odds on all UK and Irish horse racing is easy when you follow the steps below.

  1. Visit the 'Horse Racing' category on the website and select any race taking place in the UK or Ireland.
  2. Place your bet after 8am on the day of the race.
  3. If the odds of your bet are shorter than the starting price, you will get paid at the bigger price if successful.

Notable terms and conditions

This promotion is available to both new and existing customers and guarantees that you will receive the best Betfred odds on UK and Irish horse racing only. There are a number of exclusions that are not part of this promotion, including Super Extra Place Races, Lucky 15s, 31s and 63s, Ante Post, Tote or Pari-Mutuel. Bets placed with free bets, specials or boosts are also excluded.

Betfred odds in-play

The sports betting odds at Betfred are not only available pre-match or pre-event. You can bet live during the action using the in-play odds. In-play betting allows you to view the very latest updates and odds from a number of markets on the operator's website, including football, tennis, cricket, basketball and golf among others. Whilst browsing in-play odds, you can take advantage of the insights and tools that are available on selected sports, such as live updates and trackers with stats and visualisations.

How Betfred odds differ by sport

Odds can differ by sport and market depending on the outcome. In outright betting, odds are offered as a single number and represent the probability of a result or event happening, such as Man City winning the Premier League, or the Kansas City Chiefs winning the Super Bowl.

In general football matches, odds are based around a 1x2 format, representing home win, draw, away win. Whereas with American sports such as NBA, MLB and NHL, there is no draw option and you simply bet on which team will win the game. You can also bet on odds that indicate the margin of victory or defeat, such as point spread, runline or puckline.

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3 top tips to make the most of the odds

Whether you're a beginner to the world of sports betting or you're a seasoned pro, you can utilise various expert tips to optimise your wagering and make the most of your available funds.

Take advantage of early odds

Betfred is a sportsbook that releases a number of early betting odds on a variety of sports and markets. You can be the early bird that catches the worm and lock in some great value before the odds start to shift with public wagering.

Compare odds with other bookmakers

The joy of betting online is that you have hundreds of bookmakers at your disposal to compare odds with. Follow the markets you are most interested in closely and see whether they offer good value before adding the selection to your bet slip.

Research betting markets before betting

Spend time researching betting markets and sports news to ensure that the odds provided are a true reflection of their probability based on factors that can affect performance, such as injuries to key players, weather and opposition morale.

Frequently asked questions

Use the information in the segment below to get all the facts and insights about the available odds, so that you can make an informed decision about this sportsbook brand and whether or not it is right for you.

1. Do Betfred promotions have minimum odds requirements?

Yes, as with the majority of sportsbook promotions, any bonuses or free bets that are available at Betfred come with minimum odds of evens or greater. Any bet placed at odds of less than evens will not count.

2. Does Betfred provide odds boosts?

Absolutely! Betfred randomly offers odds boosts, aka price boosts, that will increase the odds of your selections and allow you to lock in more potential returns.

3. Are online odds different to offline retail odds?

Betfred is a leading provider of high-street betting shops and retail bookmakers, all of which provide the same great value odds as the ones that you will find online. However, any printed materials may not be updated inline with digital odds as the market shifts.

4. Can I create my own betting odds with Betfred?

Yes, Betfred allows any customer to create their own bet using the PickYourPunt feature. You can find qualifying events on the dedicated PickYourPunt tab when browsing sports and markets. You can also use Twitter to request a bet using the feature hashtag #PickYourPunt with proposed selections.

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Betfred Highlights
  • £50 bonus offer for new customers
  • "Pick Your Punt" feature
  • Daily draw prizes of £800 from a £1 stake
New customers only. Register (excl. 13/04/24) with WELCOME50. First bet £10+ at Evens (2.0)+ on Sports within 7 days to get Free Bets: £20 In-Play, £20 Acca & 50 x £0.20 (£10) Free Spins on Fishin’ Frenzy within 10 hours of settlement. 7-day expiry. Eligibility & payment exclusions apply. Full T&Cs apply.

Promotions and bonuses available with variable odds

Betfred is a sportsbook with a solid reputation for providing numerous bonuses and promotions for both new and existing customers. There are plenty of incentives that you can use to make the most of the odds on offer across a range of sports. In this segment, we take a closer look at the most popular offers that are worth their weight and provide enhanced thrills and returns.

Welcome bonus

Sign-up for a new Betfred account and take advantage of the operator's welcome offer. Get £30 when you deposit and bet a minimum of £10 at odds of evens within seven days of completing your registration.

Accumulator insurance

Place a football bet with multiple selections as part of your accumulator and insure your bet for free. You must add a minimum of five selections to your bet slip with odds of at least 1/2 per selection. If one selection lets you down, you will get your money back in cash up to the maximum value of £10.

Extra places - horse racing

Betfred provides extra places on horse racing markets daily depending on the number of runners. The operator pays 1/5 odds on more places for each-way bets on selected racetracks in the UK, US and other regions. Be sure to check the promotional page regularly to get the full list of extra place races, such as 3 instead of 2 and 5 instead of 4.

Odds multiplier

Place a Lucky 15, Lucky 31 or Lucky 63 bet on horse racing or greyhounds and get up to five times the odds if you only get one winner. If all of your selections run but only one wins, you can get enhanced odds paid on your bet as cash.

10% tricast bonus - greyhounds

Every bettor loves the chance to boost their returns, and the 10% tricast bonus is offered completely for free on all successful bets. Place a Tricast bet on any greyhound race with any odds and if it wins the operator will award you with a 10% cash bonus on top of your expected returns.

Conclusion: Excellent value Betfred odds on major sports

Betfred is a major player in the UK betting scene and it's easy to see why. The operator provides outstanding value on the majority of its betting markets, particularly major sports such as football and horse racing. Not only are the odds extremely competitive compared with other brands on the market, but the operator guarantees the best odds on all UK and Irish horse racing. This provides bettors with complete peace of mind so that they can bet with confidence on any major racetrack meeting in the UK and Ireland. What's more, Betfred odds are available 24/7 and are constantly updated so you can be sure you are always betting with the latest odds on domestic and international events and competitions.

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Betfred Odds FAQ

❓ Where can I find the best Betfred odds?

Finding the best odds is key to locking in outstanding value with every bet you place, including on top sports such as football, horse racing and rugby. The best odds will not only bring healthy returns with every successful bet, but also ensure you are maximising your funds. Use the guides at Betting.co.uk to find the best markets and odds to suit your preferences.

🐎 How many places do Betfred pay on horse racing?

Finding out how many places Betfred pays on horse racing is easy when you use the guide at Betting.co.uk. Get all the facts and information you need about each-way betting and what returns you can make based on the odds and ranking.

🌟 Does Betfred pay the best odds?

When betting on sports, it's great to know whether or not you are being paid the best odds and can be the difference to remaining with your current bookmaker or finding a new one. Use the guides at Betting.co.uk to learn all about the odds from each operator and which sports guarantee the best odds.

💰 What is the maximum payout at Betfred?

Before you join a new sportsbook site such as Betfred, it's vital that you fully understand all the rules and terms around payouts, including any minimum stakes and maximum returns. This can ensure you will receive the best possible betting experience and avoid stress and frustrations at a later date.

⚽ What sports can I bet on at Betfred?

Discovering what sports you can bet on at Betfred is simple when you use the reviews and guides at Betting.co.uk. Get the full list of available options, including top sports, niche sports and a complete A-Z list of domestic and international competitions.

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