Which Bookmaker Has the Best Odds? Where Prices Are Highest

Every site claims the best odds. A match can be 1.91 both ways at one book, 1.95 at another.

The boots of two players at ground level either side of a ball on the centre spot at kick-off, floodlit stands blurred behind

"Best" means the highest number on the screen to a bettor who places one bet a month, and the lowest margin to one who stakes every week. The four places below are grouped by how they earn their money, and each card says how much of its pricing anyone has actually measured.

Where are prices lowest? Four kinds of place

  • Betting exchange

    Other bettors set the price

    Best for prices set by other bettorsNot ideal for thin markets

    How it earns. Bettors back and lay against each other, and the exchange takes a commission on your net winnings in a market. Betfair's help pages say a losing bet carries none.

    What the sources say about margin. The price carries no built-in margin, so the cost is the commission plus the gap between the back and lay prices. Betdaq's home page gives two different rates by territory of residence, and no independent measure of the price gaps was found. Evidence: operator statements.

    What still limits you. Liquidity varies by market, the rate changes with where you live, and which exchanges accept you depends on your country.

  • Sharp book through a broker

    Reached through an intermediary

    Best for regular bettors who compare pricesNot ideal for bonus hunters or a quick sign-up

    How it earns. A sharp book aims to earn a thin margin on large volume. Pinnacle, a well-known example, describes an approach built on competitive odds and high limits, and published tests report no welcome bonus on sport.

    What the sources say about margin. A study by Hegarty and Whelan at University College Dublin found loss rates at Pinnacle significantly lower than at the other bookmakers it examined, on football 1X2 odds. It gives no margin figure for Pinnacle alone, realised losses there still ran above the predicted ones, and the authors report that the favourite-longshot pattern behind that gap does not apply to Asian handicap betting. Evidence: one academic study of football odds.

    What still limits you. A broker's prices are those of the books behind it, so it adds an intermediary layer, identity checks and rules of its own without adding a better price. Sportmarket's help page describes its PS3838 account as powered by Pinnacle and puts its limits about 50 percent lower than Pinnacle's.

  • Foreign bookmaker

    Margin claimed, rarely measured

    Best for occasional bets in an accepted countryNot ideal for high volume or large withdrawals

    How it earns. A typical one keeps a margin on every price, runs a casino next to the sportsbook and courts casual customers with many sports and payment methods, crypto included.

    What the sources say about margin. Reported margins vary widely from one published test to the next, and many published tests come from sites with a commercial interest in the operator. No independent comparison with a sharp book was found, so a lower margin here is a claim to check. Evidence: published tests only.

    What still limits you. User reports keep returning to withdrawals delayed by identity checks that start only at the first cash-out, and to accounts closed or winnings withheld after larger wins or account reviews.

  • Local book plus a comparison screen

    Easiest to open

    Best for a handful of bets a yearNot ideal for a bettor who wins steadily

    How it earns. It keeps a margin on every bet and buys customers with promotions. A comparison screen adds the one thing it lacks, a view of the best current price across the accounts you already hold.

    What the sources say about margin. No independent figure was found for a given local book, the published margin rankings cover football only, and the one academic study of odds averaged over many bookmakers covers football and tennis. Evidence: partial.

    What still limits you. The screen works only across accounts you already hold, it shows a price rather than a limit, and a book that quotes a good price can still cut your stake once you start to win. Live comparison sites already do this job.

Which bookmaker has the best odds? None has them on every market.

The lowest prices, meaning the smallest margins, tend to be reported at exchanges and at sharp books, and neither kind is always open in your country or comfortable with a winner. A bookmaker that looks cheap on one match can be dear on the next, so compare the margin of a whole market, since the biggest number on one outcome tells you little. Over a year the gap is real money: on 50,000 staked, prices of 1.91 on both sides cost about 2,250 in expectation and 1.95 costs about 1,250. With few bets a year, a comparison screen is enough. With many, price stops being the problem and the limit takes its place.

What does "best odds" actually mean?

Four things hide behind the phrase, and mixing them up is how a boost ends up compared with a margin.

Highest price
The biggest number offered on one outcome. A book showing 2.10 and 1.72 on the two sides has a margin of 5.76 percent, while one showing 2.05 and 1.90 has 1.41 percent. For a single bet on the first outcome the first book pays more, yet the number is a poor way to choose a bookmaker, because a book can lead on one outcome and trail on the rest.
Lowest margin
The overround minus 100 percent, the slice of the market a bookmaker builds in for itself; the 1.41 percent above is one example. It describes a whole market, so it needs the price of every outcome, and it is the measure that matters when you bet often.
Boosted price
A price the bookmaker raises on one market as a promotion. Whether it beats the field depends on where it started: a boost from 1.80 to 1.90 still loses to a plain 1.95 elsewhere. Check the markets covered and any maximum stake.
"Best odds guaranteed"
A promotion usually shortened to BOG. One published UK guide describes it as paying a winning bet at the larger of the price you took and the starting price, on horse and greyhound racing. Operators differ on markets and stakes, so check the terms. It protects you from a price that shortens after you bet; it does nothing for the margin.

How much does a lower margin cost you over a year?

Start with one market of two outcomes priced the same on both sides. At 1.91 each side implies a 52.36 percent chance, the two add up to 104.71 percent, and the theoretical payout is 1.91 divided by 2, which is 95.5 percent. At 1.95 the sum is 102.56 percent and the payout 97.5 percent.

Now stake 50,000 over a year, ten bets of 100 a week for fifty weeks, all in markets like that, and assume each side is a true 50/50 chance so that nobody has an edge. The expected loss is 50,000 times 4.5 percent, or 2,250, at 1.91, and 50,000 times 2.5 percent, or 1,250, at 1.95. That 1,000 comes from the price alone. Two assumptions hold the example together: the stakes are spread evenly, and the same margin applies to every market. The 4.5 percent loss and the 4.71 percent margin are different measures, and the bookmaker margin calculator shows why and runs any market you type into it.

Expected loss over a year on 50,000 staked, by payout

Illustrative data
View the data as a table
Expected loss over a year on 50,000 staked, by payout
Payout (price on both sides)Expected loss
92% (1.84)4,000
95.5% (1.91)2,250
97.5% (1.95)1,250
98.5% (1.97)750
Calculated rather than measured: expected loss is 50,000 times one minus the payout, for a market of two outcomes priced the same on both sides, each with a true 50/50 chance. The payouts are examples that no venue has quoted.

Do exchanges really beat bookmakers once commission counts?

They can. The rate you pay decides by how much. An exchange adds no margin to a price and charges commission on your net winnings in a market instead. On an exchange that commission is a margin in another form: back 2.00 and pay 5 percent on the winnings, and your effective price is 1 + 1.00 × 0.95 = 1.95, the same as a bookmaker quoting 1.95 on both sides, with the same 2.56 percent margin and the same 97.5 percent payout. The sums assume one bet on the market and no discount.

Which commission you pay depends on the exchange and on where you live. Betdaq's home page says its normal commission is 2 percent for customers residing in the UK, Ireland, Gibraltar and Jersey and 5 percent for residents of all other territories, so the same bet can cost a bettor in Dublin 2 percent and a bettor elsewhere 5 percent, where the exchange accepts them at all. At 2 percent the same 2.00 becomes 1.98, a margin of 1.01 percent and a payout of 99 percent. Other exchanges publish their own rates, so read the live figure before you deposit.

The example is generous, because a real exchange has a gap between the price you can back and the price you can lay, and a thin market may match only part of your stake. On Betfair, unmatched bets on the Exchange lapse by default and are cancelled at the start of the event, according to Betfair's help pages; other exchanges may handle this differently. The working for your own rate and market is in the guide to how matching and commission work on an exchange.

Can you use the lowest-margin books from where you live?

Sometimes, and only the operator's own terms can say. Pinnacle, for one, says it does not accept customers based in the United States and lists other restricted countries in its terms, and the published country lists disagree with one another, so read the current terms. The guide to how to bet on Pinnacle Sportsbook covers the checks to run before you register.

Some sharp books, PS3838 among them, are reached mainly through brokers. A betting broker gives you one account that reaches several books and exchanges, among them a range of Asian books. It changes who can reach a price, and the price stays the same. The cost is the intermediary: public reviews of BetInAsia describe accounts placed under review for weeks or months, reviews of AsianConnect describe withdrawals and balances held through repeated identity checks, and for MadMarket no independent review was found. Reviews over-represent unhappy customers, so treat this as a warning for large balances.

None of this is a way round a restriction. If a book or a broker does not accept your country, that settles it for that book, and masking your location puts your balance at risk. Betting is for adults only. Rules on using operators outside your country vary, and checking yours comes before opening any account.

Why do the best-priced books limit you?

A book that prices generously is paying to win customers, and an account that keeps taking its best prices and winning costs it money, so the stake often gets cut. Pinnacle says winners are welcome, and forum posters dispute how that holds up in practice. Exchanges take another route: Betfair's help pages describe an extra charge, called Premium Charge or Expert Fee, paid by "a very small number of the most profitable customers on the Betfair Exchange". The guide to how bookies decide to limit an account puts the regulator's numbers on that logic.

Volume decides. At 1,000 staked a year, moving from 1.91 to 1.95 saves 20. At 50,000 the same move is worth 1,000, enough for an exchange or a broker to repay its trouble, but only while the venue lets you keep staking at that size. Its stake and withdrawal rules are worth reading before you fund it.