It would probably not be an exaggeration to state that live betting has revolutionized the way many people bet on sports. It's a relatively recent development in sports betting, but in just a few years it has become incredibly popular with professional and recreational bettors alike. It's also known as in play or in running betting and is available at the vast majority of gambling sites.
For something that has had such a major impact, the basic concept is incredibly straightforward. Whereas traditional sports betting involves placing wagers prior to the start of an event, live betting allows you to place wagers during an event. It has created a ton of new wagering opportunities and plenty of potential for making money. It's a very exciting way to bet.
In this article, we discuss how live betting compares to traditional sports betting and look at the advantages it has to offer.
The mechanics of live betting are not that different from traditional sports betting. A bookmaker still offers a range of different betting markets and odds on the various possible outcomes. You then decide what you want to bet on and how much you wish to stake, and place your chosen wagers accordingly.
There are some key differences of course. For one thing, the selection of available wagers is much greater in live betting. There are all kinds of "what will happen next" markets that are simply not possible prior to the start of an event. For example, during a soccer match, you can bet on the next team to score or the time of the next goal.
Another big difference is that the odds change much more quickly during an event than they do before it starts. Before a soccer match, for example, the odds may change a little based on where the money is going, but they won't often change dramatically. They might if something significant happens, such as an important player getting injured, but it's pretty rare.
During an event, there are all kinds of factors that can affect the odds in a split second. If the underdogs take an unexpected lead in an NFL game, for example, then their odds to win are going to shorten straightaway. The odds can also change based purely on how a team or player is performing. A tennis player may be the clear favorite to win a match, but if he looks out of sorts during the first few games, this could easily have a big effect on the odds.
The other main difference is the time you have to make decisions. With traditional betting, you can take your time to think about which wagers should be placed, but with live betting you don't have this luxury. You have to make decisions quickly or completely miss an opportunity.
Despite these fundamental differences, to be successful in either form of betting, you ultimately have to do the same things. You have to use your sporting knowledge to make predictions and look for wagers that represent good value based on the likelihood of your predictions being accurate. If you have the necessary skills to do this well, then you have every chance of making money from traditional or live sports betting.
The popularity of live betting has led to many gambling sites offering extensive in play coverage on a wide range of sports and events. Some of the biggest sites cover tens of thousands of events throughout the course of the year. As a general rule, the major sports get the most coverage.
We've listed the most popular sports for live betting below. Many other sports get their fair share of attention as well, but these get the most largely because of the different types of wagers available.
Live betting offers several benefits to gamblers of all types, not least of which is the enjoyment factor. Placing wagers while watching a sporting event is quite simply a lot of fun. There is also the fact that being able to watch the action before choosing where to put your money should, in theory at least, make it easier to arrive at an informed judgment.
There are two main benefits that should be particularly appealing to those who are serious about making money from gambling on sports. The first of these is all the additional wagers available. If you have the skills required to spot value, then the more wagers available the more likely you are to find a good opportunity. This is simplifying things somewhat, but the principle is perfectly correct.
Secondly, live betting provides opportunities for hedging your bets. This can be very useful for locking in profits when things have gone as expected and cutting your losses when they haven't. Hedging is not for everyone, but it can help maximize your overall returns in the long run.
Imagine, for example, that you placed a wager on a golfer to win a tournament before it started at good odds. With a few holes to go, he is winning; and there's only one other player who has a chance of catching him. You could place an additional bet on the other player and, if you get the math right, guarantee yourself a profit regardless of which of the two goes on to win.
Hedging effectively is not easy, and you will often have to make quick calculations to determine what wagers to place. If you're able to make good decisions, however, you can greatly improve your chances of making a profit through gambling.
If you enjoy sports betting and have never placed a wager in running, then you are really missing out. It's a straightforward concept; and although it is different from traditional sports betting in some ways, the basic principles largely remain the same. It can be a lot of fun and provides some excellent opportunities for making money, so it's well worth giving it a try in our opinion.
A quick piece of advice if you do decide to try it – don't get carried away when you start. With so many additional wagers to place, it's very easy to go crazy and start betting on everything. This is rarely a good idea, and it's much better to take things slowly and try to find wagers you can really make a case for.