Live betting, also known as in-play or in-running betting, is the process of placing a bet on a sporting event after it has started. For example, you can bet on different aspects of a football match after it has already kicked off and throughout the duration.
It takes away the need to study statistics and puts you at the heart of the action, giving you the chance to change your bet or place a new one during the event.
Explaining Live Betting
How does live betting work? I hear you all mutter.
Well, basically, the online sportsbook you’re using will have set odds on a match or event before it takes place.
These odds will change several times after the event starts, depending on what happens.
If Team A were an odds-on favourite before kick-off and Team B takes the lead after a couple of minutes, the odds will change to reflect this. Team A may still be favourites to win, but they now have less chance of doing so. This will raise their odds.
Therefore, a person wishing to bet on Team A will get better odds than they would have if they’d placed the bet before the game started.
It isn’t just goals in a football match that change the odds. Every action during a sporting event will change the potential outcome, altering the betting odds in the process.
The odds are decided by the individual sportsbook, using a computer algorithm which constantly updates the information. Then, depending on what is happening in the event as well as past outcomes of similar events, the odds are changed.
When something significant happens during the event, the sportsbook will usually suspend betting for a few seconds so the computer can work out the new odds. Betting will then continue. This will happen several times throughout an event, giving you up-to-date odds reflecting what is happening in the live event.
More Ways to Win
There are several advantages to betting live, or in-play.
Firstly, you can see what’s happening before deciding to gamble your hard-earned cash. If you fancied a team in a match which looked too close to call, you could wait until after the first few minutes have been played before placing a bet.
There’s also the added possibility of betting on different aspects of the event, like picking the winner of the next frame in a game of snooker or betting on who will win the next point in a tennis match.
This gives the punter more ways to win, as it provides several different betting options they didn’t have before the event started.
One of the main benefits is the ability for the punter to change their mind during an event.
Maybe, the bet on Team A looked like a “dead cert” after studying statistics before the match. However, after thirty minutes when they’re a goal down and have had a player sent off, the bet doesn’t seem so great after all.
The punter can now place an opposing bet, using the new information acquired since the game started.
Basically, it gives the punter more chance of winning because they have more knowledge of a sporting event than they did before.
Obviously, as with any form of gambling, this isn’t a certain way of winning. A deflected last minute goal or a missed pink to the middle pocket may mean the punter still loses.
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