Live Sports Betting
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|‣||What Is Live Sports Betting?|
|‣||How Sportsbooks Calculate Live Odds|
|‣||Live Betting Strategies|
In the past, if you forgot to place a bet or if you couldn’t confirm your bet in time, your only option was to sit, sulk, and wait for the next game.
Now, however, thanks to the simple, technological times that we live in, you can quickly jump in on the action with live betting.
Live betting, which also goes by the name “in-play betting,” is a thrilling option as it allows users to place bets on live and ongoing events.
Live betting has gained a lot of traction since the 2010s and it has become so popular that it’s almost impossible to find a sportsbook that doesn’t offer a form of live betting.
To give you a better understanding of live betting, we’re going to show you what your live betting options are, the pros and cons of live betting, and how you can use live betting to your advantage. So be sure to read on!
What Exactly Is Live Sports Betting?
Simply put, with live betting, you can place a bet on a game once it starts. When a sports event begins, the sportsbook will list available markets that you can bet on, and most of these will be offered until the end of the game.
So unlike the standard form of betting where you have to bet on a game before it begins, in live betting, you wait for the event to start, and then you’ll be able to place a live wager, betting as the game occurs.
Live betting is great because it will give you a unique, exhilarating betting experience, especially if you have one eye on the game. In addition to this, live betting has a lot of betting flexibility, plus it gives bettors many money-making opportunities.
Most people place live bets using their mobile devices because of how easy mobile betting is; however, as long as your sportsbook has a desktop site, you can still use your computer or laptop to place live bets.
Which Sports Can I Bet On Live?
You can expect a wide range of live betting options, though this will largely depend on the sportsbook. However, most of the top sports and leagues will have in-play betting options since real-time statistics for the top leagues are easily accessible.
To check your live-betting options, simply go to your sportsbook and click on the tab titled “live”. A full list of all the live events will appear, and you’ll also be able to view some of the upcoming games.
When you click on a game, all the betting markets available for that game will appear, as well as real-time statistics and a game tracker. In some scenarios, you might even get live streams, but that will also depend on your sportsbook.
Most of the top sportsbooks always have in-play markets for the following sports:
- Mixed Martial Arts
Depending on your location, you may not be able to place bets on live college games involving teams from your state or on college games that are taking place within your state.
Things To Consider For Live Betting
When searching for a site specifically for live betting, most of the basic necessities of a sportsbook should still be prioritized.
However, there are some other things that you should consider when choosing a betting site you will use to place your bet.
So before you settle for a sportsbook, always consider some of the following factors:
- Does the sportsbook have a lot of live betting markets and events?
- What are the sportsbook’s in-play betting limits?
- How great is the sportsbook’s live-betting software?
- Is there a live betting bonus?
- How quickly does the sportsbook process payouts?
- How quickly are live bets accepted?
We have reviewed several sportsbooks, so you can start by checking out some of those reviews if you’re looking for a great sportsbook for live betting purposes.
How Do Sportsbooks Calculate Live Odds?
Live odds always change and will reflect a game’s momentum. For example, if team A is constantly on the attack, they’ll most likely be the favorites to get the next goal, and the odds will be reflective of that.
If you’re wondering how live sports betting odds are calculated, sportsbooks use either odds compilers or computer algorithms.
Odds compilers are people who help sportsbooks to set odds. During live betting, they alter the odds by looking at the current score and real-time statistics.
Sportsbooks that use computer algorithms lessen the burden for themselves. The software takes into account several factors and then uses those key factors to calculate live odds.
Examples Of Live Bets That You Can Make
You can still expect your normal dose of point spreads, moneyline bets, and even totals during live betting, though you shouldn’t expect the same odds and lines as the pre-game market.
In many sports, there are also other alternatives that you can still bet on. These are mainly prop-like bets that focus on certain achievements during the game. Common examples of these types of bets are:
- Which player will score the next touchdown?
- Which player will score the next goal?
- Which team will score the first goal in the second half?
- Which team will get the next corner?
- Who will win the next set?
- Which team will score X number of runs first?
- Will the next scoring play be a touchdown?
Live Betting Strategies That You Can Use
Obviously, we all want to profit from our live bets. Since the opportunities are endless, you can end up getting confused. Fortunately, we’re here to help with a few proven strategies.
So the next time that you want to place a live bet, you can consider one of these strategies:
- Combine your live bet with a pre-game wager: If you’ve placed a pre-game bet, you can use live bets to your advantage. For example, if your pre-game wager backed team A but they’ve started the game slowly, you can place an insurance wager on team B which will potentially help you cut back on losses in case team A loses. Of course, ensure that you still use bankroll management strategies even if you’re placing live bets.
- Compare odds from different sportsbooks: You can try to seek value by seeing how different sportsbooks price live events. So in case you want to place a live bet, you’ll go for the book that is offering you the best odds possible.
- Use breaks to your advantage: Live betting can be extremely hectic, especially if you’re following the game. Instead of constantly keeping an eye on the odds, you can check on them when there is a stoppage in play, like during quarter breaks or during a timeout.
- Don’t ignore statistics: Always check on the stats before placing an in-game wager. You might think that the favorites are dominating the game, but the stats may tell you otherwise. Most sportsbooks will provide you with real-time stats, though you can still use other official sources to gather stats on other areas of the game.
- Try to follow the game through a live stream: Tying in with the above, the more information that you can get, the more accurate your live bet prediction will be. So if possible, get a fast live stream that will keep you updated on the game. That way, you won’t be blindly making a bet.
- Take advantage of free live bets: If a sportsbook gives you a bonus or offers you a free live bet, ensure that you use the bonus to your advantage. It doesn’t matter if it’s a small amount; you can still use these free bets to learn the ins and outs of live betting.
Pros & Cons Of In-Play Betting
Some of the pros of live betting include the following:
- You can place bets even after an event has started.
- There are more betting options.
- Can help create hedging and arbitrage situations.
- Live betting has unique and appealing markets.
- It is an exciting way to wager.
- Mobile betting makes in-play betting ideal.
On the other hand, live betting still has a few negatives. Some of its drawbacks include the following:
- Many sports might not be available.
- Increased vigorish on some betting options.
- Live betting is highly addictive and can lead to problem gambling.
- The betting limits are usually lower.
- Micro betting is a good alternative.
- Live betting requires a lot of attention. So if you’re watching a game, you’re less likely to focus on the game because your attention might be on the odds instead.
Final Take On Live Betting
Live betting is great because of the freedom that it offers. Though live betting may have a few drawbacks, it’s still a fun and unique way of placing bets.
So in case you’re tired of pre-game bets, you now have the option of going for live bets which offer you more flexibility.
Thirsty For More Betting Knowledge? Check Our Sports Betting Guides Hub.