Betting in-play, otherwise known as live betting, has become a mainstay betting option at sportsbooks across the internet. Live betting is basically traditional sports betting on steroids. It allows bettors to wager on sporting events in real time and offers up-to-the-second odds on every sport under the sun.
Live betting markets have seen rapid growth over the past few years, and many sportsbooks now offer live betting for every game. Live betting has also expanded into lesser-known sports, even those with extremely small markets. And with the advent of mobile betting, live betting has become available to anyone in the world with a mobile connection.
The Basics of Live Betting
Live betting markets won’t be listed alongside traditional markets but instead on a separate page with live betting software.
Other than the fact that you will be betting on events as they progress, placing bets in a live betting platform isn’t any different than placing regular bets on sides and totals. Bettors simply select their wager, enter the amount, and click “Confirm” or “Submit” on their bet slip.
Live betting is a rapidly adjusting market. Every play has the potential to change the odds offered, and they are constantly moving based on the status of the game.
Live Betting Markets
The bets available to players when live betting will vary depending on the sport they’re interested in wagering on and the sportsbook they’ve chosen for in-play betting. Some sportsbooks offer a large list of markets for live betting, while others will simply have adjusted sides and totals.
Generally speaking, the more stoppages during a particular sport, the more betting markets available. For instance, baseball live betting allows players to bet on the outcome of each at bat, the score during each inning, and a host of other propositions. Football live betting has odds on the outcome of each drive and even the outcome of each play.
Of course, other sports, such as basketball, hockey, and more, may have expanded betting options aside from adjusted sides and totals. Live betting is available for every sport in the world at some sportsbooks. The betting options offered are only limited by the oddsmakers’ imagination and the betting software.
Live Betting Tips
As mentioned above, live betting options are going to vary wildly. However, one area bettors need to carefully consider, aside from available markets, is the betting odds offered. Many sportsbooks will juice up their live betting markets much more than the standard -110 or the -115 odds offered on most proposition bets.
For this reason, it’s one of the markets where shopping around for the best odds is most vital. Line shopping is something that some forget about when live betting, but wagering with live betting odds that are considerably worse than what you might find at another sportsbook is going to cost you a lot of money in the long run.
Live betting can also be a tool used by bettors to grab a price that wasn’t available in traditional pre-match betting odds, giving bettors the ability to hedge pre-match wagers.
Take for example a moneyline wager on an NFL contest:
Say, New England was -170 to defeat Buffalo, but those odds were too rich to consider before the matchup started.
As another example, let’s look at an NBA game. Say, we’ve taken the L.A. Clippers against the Golden State Warriors on the moneyline at +250, but after the first quarter, the Clippers are losing by double digits and look ragged. We can then take the Clippers via the point spread or moneyline to hedge our wager and reduce our losses.
There is value when hedging via live betting, but bettors must be careful when doing so for several reasons. For one, if they have a strong price that beat the closing line, they’re giving up a lot of their equity by hedging their bet. Secondly, there is always the danger of hitting a middle between the lines when betting the point spread. Third, due to the tendency of live betting markets often being hyper-juiced, the bet may not be +EV.