Live Betting: What It Is and How It Works

Winning bets has become so much easier these days with several innovations and the addition of new options by bookmakers. Options like live bets have made gambling quite flexible and even more convenient for bettors.

Live bet, also known as in play, refers to any form of bet placement that occurs after an event has started. In the past, you could only book and place bets before the games start and wait until the end to know if you have won or lost. Today, inplays have made it possible to place bets even while the games are ongoing.

Live betting has become a very popular way of betting these days and the option is offered on almost every sports betting site. If you are just coming across live betting, and need to know what it entails, then this article is right for you. Continue reading to find out the pros and cons of live betting, how it works, and how you can make more money with the option.

Sounds like something for you? Then, let’s get right in!

Table of Contents

What is Live Betting?

Live betting is a form of gambling where you place bets on sports events while they are ongoing. This option allows you, as the bettor, to react to the action as it unfolds, potentially adjusting your bets based on the current score and momentum of the game amidst other factors.

Key Features of Live Betting

Here are some features of live betting:

Dynamic odds: Odds constantly change based on the action on the field.
Variety of markets: Live betting offers a wide range of markets, including match winners, correct scores, over/under goals, and more.
Real-time updates: You can track the game’s progress and make informed decisions.

Advantages

There are several perks that come with betting on live games, with the major one being the ability to make wafers while the game is ongoing, allowing you to respond to the action as it unfolds.

This provides opportunities to place more informed bets after evaluating the current game dynamics, momentum shifts, player injuries, or tactical changes. You can use this to your advantage, especially if you thoroughly understand the sport and can quickly interpret the game’s flow.

Another advantage of in-play is the increased range of betting options available. When games are in session, more betting options open, unlike pre-match bets, which are usually limited to outcomes like winners, total points, or spreads.

With live bets, you can place wagers on various outcomes such as the next team to score, the winner of the next or current quarter (basketball), or even if a particular player will score within a certain period.

Also, the flexibility to adjust your bets as time goes on is another advantage of live bets, providing an opportunity to break even when at a loss. In pre-match betting, there is usually no way to change a bet based on new information.

Live betting allows bettors to hedge their bets or double down based on the progress of the game.

For example, if your original wager is already looking like the game might be a loss, you can play a new bet to mitigate potential losses or even take advantage of unexpected opportunities that may come up during the game.

In addition, live betting allows bettors to capitalize on higher odds. For example, if you place a bet on a team to win a football match at 1.5 odds before the game starts, the odds will increase as the match progresses if your favourite still hasn’t scored or they are already losing.

The odds may become double, triple or even more of what it was before the match started. If you are confident that your favourite will still win the game, you can take advantage of these more favourable odds in live betting.

Downsides

Just like advantages, there are also disadvantages peculiar to live betting. Since it occurs in real-time, you only have a few seconds to place your wagers before the odds change or the option is removed. The environment requires making hasty decisions, which means you might make bad wagers due to a lack of careful consideration.

Another disadvantage of live betting is the constantly fluctuating odds. Although this can be of some advantage at times, it also means that you have to be vigilant at all times.

Odds can change quite rapidly due to in-game developments such as a sudden goal, a corner kick, a counter-attack or even a player getting injured. This can also make it challenging to lock in favourable odds, as you might have been waiting for odds to improve only to find they’ve continually gotten worse.

Finally, it can be really hard to inculcate gambling discipline with live betting. Some bettors see the non-stop action as an opportunity to make more money, even if they have been on a losing streak. It may also be difficult to track your performance and understand why you have made losses during live bets.

Examples of Live Bets

There are several options to choose from when placing live bets. Here is a very small list of options you might find on your preferred bookmaker when betting on live games:

Next Team to Score: This is a bet on the team that will score the next goal, point, or run during a live game.
Next Player to Score: A bet on which individual player will score the next goal or point.
Next Corner (Soccer): A bet on which team will be awarded the next corner kick in a live soccer match.
Over/Under Total Points: A bet of the total combined points scored by both teams, with bets placed on whether the final score will be over or under the set line.
Next Set Winner (Tennis): A bet on which player or team will win the next set in a tennis match currently in progress.
Next Drive Result (Football): A bet on the outcome of the next offensive drive in football, such as a touchdown, field goal, or turnover.
Next Foul (Basketball): A bet predicting which team will commit the next foul during a live basketball game.
Exact Score at Halftime: A bet on what the exact score will be at halftime or another designated point in the game.
First Team to Reach X Points: A bet on which team will reach a specific point total (for example, 10 points in basketball) first.
Winning Margin at the End of the Quarter: A bet on what the margin of victory will be at the end of the current quarter in a live game.
Next Free Throw (Basketball): A bet on whether the next free throw attempt in a basketball game will be successful or missed.

Live Betting Strategies

Here are some strategies to consider when live betting:

Start small: Begin with smaller bets to get a feel for the fast-paced nature of live betting.
Focus on a few markets: Avoid spreading your bets too thin. Concentrate on a few markets where you have knowledge and confidence.
Watch the game closely: Pay attention to the action on the field, as small changes can significantly impact odds.
Use in-play stats: Take advantage of the real-time statistics provided by bookmakers to make informed decisions.
Set limits: Determine your budget and stick to it. Avoid chasing losses by increasing your bets.