Live betting continues to be one of the fastest-growing forms of gambling, such as National Casino. The right live betting strategy can be the key to consistent success. While standard online sports betting principles apply to this form of gambling, everything moves at a faster pace.
But we’ve got the best live betting tips to get you one step ahead of the game. Read on to see live betting explained for those new to sports gambling, and we’ll provide some of our tried and tested strategies that the sharpest of bettors have used to great success.
What is Live Betting?
Sometimes referred to as “in-play” betting, live betting is the concept of wagering on sports in real time, rather than placing your bets before the match begins and waiting for the outcome. You get to use unique live betting strategies and enjoy the thrill of betting on your favorite sports as the action unfolds.
You’ll get wagering options on numerous parts of a game as it happens. This includes shorter outcomes that occur during a single quarter or half or even bet on various aspects of the match covering minute to minute. All are designed to give immersive betting experiences on a wide range of markets.
How does Live Betting Work?
The live betting odds work the same way as any other pre-match market. The difference is that they move in real time with the outcomes of the event.
For example, if a team is priced at +400 to win but suddenly scores two touchdowns to equalize, that team’s live odds might quickly shift to +250.
The odds for all bet types move dynamically with the game situation. Traders are constantly pricing the action using special techniques and algorithms. Most of the best live betting sites will adjust the odds within seconds of a major change in the game and make incremental shifts throughout a game too.
Examples of Live Betting vs Pre-Match
Imagine a basic pre-match bet. You would find some great odds ahead of time and place your pre-game wager. Your odds are locked in and now you simply wait until the event concludes. In most instances, you cannot amend your bet. As soon as the event begins, all markets will close and no further pre-match bets can be made.
For live betting lines, you must wait for the match to begin. Odds for the various available markets offered would then be displayed in real time. These odds will move as the action unfolds, and the prices will reflect the state of the event.
For example, you could bet on Real Madrid to win a Champions League game after kick-off but before the first half ends, the opposition scores. You could now place a total bet of over three if you think Real Madrid might bounce back or the opposition will dominate in the next half.
Or imagine a total bet of over five goals – with every goal scored, the odds for the over-five selection will get stronger. Alternatively, if the scores remained 0-0 through the first half, the odds for the over-five selection would get longer and longer.
Who Sets the Odds?
Bookmakers have teams of individuals commonly known as traders who set, monitor, and adjust both pre-game lines and live odds that you bet on. They use historical data, statistics, algorithms, and betting trends to determine the most accurate probability possible. Some sportsbooks rely heavily on their consistently successful sharp bettors to help determine the best odds.
Why is this information important for live betting? Statistical data and trends are a good indicator of potential outcomes when setting pre-match odds, but outcomes during an actual sporting event are far more nuanced.
This is why odds can vary so greatly when live betting and bettors can find significant advantages when the odds fail to consider factors that statistical thinking often does not.
