Live betting is without doubt one of the fastest growing betting markets going. The ability to bet on the outcome of an event whilst a match or event takes place offers up a massive array of betting opportunities for punters. In turn the bookmakers are keen to promote their live betting sections because of the sheers number of markets in which people can bet on.
What is live betting?
Live betting is pretty simple; it’s betting on a sport as that game plays out. The odds will fluctuate depending on the market and depending on what events occur in that market which will affect said odds. Subject to what happens will depend on the severity of the market shift and more importantly, the odds.
Let’s run you through a quick example. If we take the match result market – which is probably the most popular live betting market for football – and compare the odds of a hypothetical game between Liverpool and Barcelona. Prior to the game – so before the market turns ‘live’ – Liverpool are priced at 3.00 to win, Barcelona at 2.00 and the draw is at 4.00. As soon as the game kicks off the market then turns live, or in-play.
As the first half draws to a close the score remains 0-0 and the live odds now look like this; Liverpool 4.00, Barcelona 3.00 and the draw at 2.50. As the game is still a draw then the likelihood of it ending in a draw will increase due to the limited time left in the match.
With 10 minutes to go Barcelona score the first goal of the match to make it 1-0. The odds then react accordingly and now read Barcelona 1.70, Liverpool 9.00 and the draw at 4.00. As the game continues to dwindle away and the score remains the same the odds will continue to drift for both a Liverpool win and the draw, but will shorten for a Barcelona win as that result becomes much more likely.
Advantages of Live Betting
The main advantage of live betting is it allows you to react to certain events as a game takes place. So rather than simply place a bet before the game and simply ‘let it ride’, you have the opportunity to place a bet on a host of results based on how you feel that current game is starting to pan out. Often football can be quite a tough sport to predict the outcome of due to the competitive nature of the sport, so giving yourself a little time to assess how a game is being played out can be extremely profitable.
Live betting also allows you to limit potential loses and even increase potential winnings. This concept is massively supported with betting exchanges that allow you to both back and lay certain results or outcomes. If you think a bet that you have placed prior to the match or even one that you’ve placed in-play is starting to not look as profitable as it once did, then you have the option of simply laying this bet, allowing you to minimise losses.
Disadvantages of Live Betting
The main disadvantage to betting live is the speed in which you need to place your bets. Instead of having your mouse ready to place a bet milliseconds before say a goal is scored and taking inflated odds, bookmakers have worked around this by making an up to 10 second delay on all bets with some sites. This means that once you have submitted your bet it takes a few seconds before it’s actually placed, and if the odds on that bet changes in that period of time then the bet won’t be placed. Some companies also suspend the market when a major event occurs – such as a goal in football – to allow for the odds and lines to catch up to avoid such tricks.
Live Betting Tips and Strategies
Like all sports, prior to betting is imperative to do your research on the game in. Many bookmakers include comprehensive football betting stats pages and these pages can be worth their weight in gold. However, adapting these stats to live betting can be trickier that simply selecting the outcome of each game, but you can’t be over prepared with these things. A good tip, especially for beginners, is to track a couple of teams and simply asses how markets react in certain scenarios. Live betting works much quicker than ‘regular’ betting meaning you need to be alert and on your toes to extract the best value.
THE most important tip when betting live is simply to be on hand to react to any changes in the odds. The increased exposure of mobile betting in the modern day of betting makes this much easier for bettors to simply bet on the go. But remember, timing is key and we would recommend that, where possible, you are either at your PC or laptop and can get to the market you are interested in within a matter of seconds rather than minutes. At the very least make sure you can get onto the market from a smartphone or tablet device whilst on the go.
As live betting continues to explode in the betting industry, so does the amount of sports and markets that you can bet on. It can almost be overwhelming the exposure that live betting gets these days and it’s for this reason why we recommend sticking with sports you know. To get the most out of live betting you have to have a bit about you in terms of knowledge for that sport. You need to be able to spot where you think you can either gain a bit of value from a bet or bets to stay away from. Dabbling in unknown sports and markets can be a costly experience so try and really exploit that knowledge for your strongest sport to gain maximum advantage. If you want to expand your betting horizons in the live sector then shadow bet (to simply hypothetically bet without actually wagering any money) on a few markets and get a feel as to how they react and change depending on certain scenarios in the match.