How Does Live Betting Work

Alisa Barladyan
28 Mar 2021
14:28

What Is Live Betting & how does live betting works

Everyone knows what bet means, but what and how does live betting work isn't the term newbies are used to. Explaining live wager or bet is easy but do remember that there are three types of it as well. Live betting is usually seen in sports betting. Here live odds are odds that change during the build-up to an event as well as during the event itself. Bettors failing on one wager might place another to make up for their loss and take advantage of the current circumstance. Live odds is a name frequently seen when you bet on sports, and they are provided throughout the game until it is near the finish.

How live betting works
Live betting Explanation
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Types of Live Bets

These are the three types of live wagers that one can make (their names may change from region to region and with the bookmaker):

Traditional Bets

You know how the live betting works, and it is quite similar to traditional betting. The very same bets which were offered before the start of the game will be accessible once the event begins, except that the odds will alter in real time to reflect what has transpired in the game. You'll find your typical "who will win" bets, as well as alternative bets including over/under (totals) and so on.

Prop Bet

A prop bet, short for a proposition, is a gamble centered on occurrences or non-occurrence throughout a sporting event. Unlike point spreads, totals, or straight-up wagers, these situations may have no bearing on the result of the game or perhaps even the final result. Prop bets are called novelty bets since they can wager on an individual player or team accomplishments.

These milestones include the number of receptions a wide receiver will have in the NFL, the number of goals scored in hockey, the number of strikes a pitcher will throw in Major League Baseball, and the number of rebounds a center will have get (basketball).

Proposition bets are sometimes mistaken with futures bets, although they are not the same thing. A future is a wager on occurrences that will happen in the future. These are wagers placed before the commencement of a season in any sport, such as which franchise will take the World Series or which team will dominate their division. Here are some examples of Prop bets in soccer:

  • Total number of corner kicks per side
  • Free kicks per side
  • Yellow cards
  • Red cards
  • Offsides
  • Times of goals
  • Total passes
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Parlays

Parlays are referred to differently in different regions of the world. Depending on the sportsbook or location, they may also be referred to as "accumulators" or "multis" or location. Parlays have a distinct position in sports betting legend. Many stories have been told of an outrageous parlay bet winning big money against all odds. The climaxes of two recently critically praised films, "Silver Linings Playbook" and "Uncut Gems," both hinge around risky parlay bets.

Whatever the name, the premise is straightforward. A parlay bet combines many wagers into a single stake. It accomplishes this by transferring the proceeds from each wager to the next leg of the wager. For the parlay to be considered a winner, each "leg" or individual wager in the parlay must win.

After the game has begun, you might add an extra stake to your initial bet to try to capitalize on your right prediction. Many bookmakers will even allow you to design whole fresh parlays with in-game betting, which is the peak of adrenaline.

Benefits of Live Betting

Bettors are enthusiastic and love to play live bets since there are so many new and exciting perks and motivations to participate that didn't exist before. Many of the advantages are comparable to classic wagers, but they are magnified with this new form. Let's explore some of the most common reasons why so many people are becoming involved with and enjoying live sports betting.

The Odds

Theoretically, the odds on all bets should always be right, or close to what you're betting on. Sportsbooks invest a lot of time and money in employing specialists and building up computer systems to assist them in setting the best odds on a game. If they set a line poorly, they risk losing a lot of money if bettors can pounce on it before they do. When the sportsbook has weeks or days to develop and analyze its odds ahead of time, this becomes quite simple and uncomplicated.

However, in live sports betting, this privilege is thrown out the window. The sportsbook is expected to modify odds and make forecasts in real-time, but they do not have hours to double-check themselves since they must keep up with the game.

Odds at the start of the game

At the start of the game, the odds will be close to what's fair and made with the correct judgment under normal circumstances. 

Benefits Wrap-Up

As you've seen, this emerging innovation in sports betting is a huge step forward for the market. Not only are you able to leverage sportsbook errors and bettors that are not as keen as you, but you're also ready to do so while having a great time.

Reading Live Odds Online

Like other bets, you can identify odds with a simple difference between the spread. Team A is likely to win, then they will have odds in negative digits like -100, and Team B will have +100. It means there are higher chances of winning due to their goals, score, or performance. However, the payout will also be low if you bet on Team A. If you bet on Team B at this point and they win, you will get double the profit.

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How are Live Odds Calculated?

Betting odds are either computed by betting operators, i.e. bookies, or set by the market, which means that the probabilities indicate the occurrence on which more people bet. Let's begin with the former and look at football. Typically, bookmakers estimate the possibility of an event occurring based on a statistical study that forecasts the influence of either circumstance, the team's training routines, the lineups, the impact that the absence/presence of one specific player would have on the game, and so on.

No bookmaker would publicly reveal this data to you since each has its way - but in general, this is what they're doing. However, their work is not done. To profit, they must now charge a spread, also known as the vigorish (in fact, the vigorish is one of their biggest revenue sources).

Live Betting Strategy

We would not want to throw you off into the wild without little tactical suggestions and advice to get you headed in the right way because everyone viewing this is presumably quite new to in-game betting. Finally, with so many various sorts of bets and shifting odds, you'll have to make a lot of split-second judgments and design your profitable strategy. These pointers and tactics will properly point you, allowing you to avoid typical traps and avoid being dubbed a sucker.

Start with a Pre-Game Bet

As a starting point, most experienced in-game gamblers prefer to place a pre-game wager. It helps you ensure that you have completed your pre-game preparation and are mentally prepared to participate in the action of this game. It is never necessary, but it does offer you a plethora of options when you start the game. In-game betting is excellent for saving bets that are losing or advancing on bets that are winning. Once you have a pre-game bet to work with, this type of flexibility becomes a lot simpler. Again, this is not required, but it is an excellent starting point.

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Know Your Limits

If you are not on top of things, the fast-paced nature of in-game betting may make it very simple to get carried away. When placing several bets in real-time, you must keep a record of how much interest is on the line. The best approach to accomplish this for most individuals is to keep track of how much money you have wagered in the game, and you'll be OK. If you are a more seasoned bettor with many bets open at the same time, you may want to consider creating an Excel spreadsheet on your laptop to keep count of everything.

Fortunately, online sportsbooks will oversee it all for you, and many of them offer excellent interfaces that allow you to keep track of all of your bets at once. If you want to make a lot of in-game bets, we strongly advise you to use a site with a well-designed UI. It is valid for the majority of websites that provide in-game betting, but double-check before you begin.

Make Sure You Are Watching the Entire Game

Unfortunately, this is not often followed by action seekers and novice bettors. If you are going to wager on a sport live, ensure you are viewing the entire game. You seldom know when you'll catch anything minor which will grant you an advantage over your competitors. Remember our earlier example of Julian Edelman? If you have the game turned off or view 10 sports at once, you will never notice such occurrences and skip out on potential quick profits.

If you just wager on the odds in-game, you would never be likely to get an advantage over the algorithm or discover unfavorable lines that shift depending on public emotional betting. You'll essentially be doing it in the same manner they're doing it, and they'll always be better at it than you.

Use Live Betting for Close Pre-Game Bets

Let's say you want to bet on Team A, but it has the odds of -200, which are extremely poor. What you can do is wait for the match to start and see for any shifts. Team A is superb, but your team lags due to a lucky shot by a player from Team B. Now, this is a favorable opportunity for you as the odds will likely drop to -100, -150, or even more. It means a better payout for you. Hence, you can play live bet for such cases.

Capitalize on Bad Lines

The sportsbook has an indefinite length of time to establish their odds and study to ensure things are ideal with pre-game, conventional bets. With in-game betting, they lose this privilege and are far more likely to make errors or establish a price that does not consider everything into consideration. There's simply far too much happening on and far too many intangible assets for them or a machine to keep track of. It will generate lines that you can hop on to get some quick cash.

Know the Interface

Furthermore, the betting populace is not normally intelligent and prefers to wager with their emotions rather than their wits. Whenever they do this with live in-game betting, the odds might fluctuate fast, creating some advantageous opportunities for you to take advantage of. Keep an eye out for circumstances where you believe small or emotional variables too influence the lines and bets. If you can find these opportunities, you will be in a terrific position to make a lot of money.

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Is Live Betting Available on Mobile Devices?

You may now put in-game bets using your mobile phone. You must first obtain an app, either via the App Store (iOS) or directly from the sportsbook (Android). Check that you have the right operating system and a version that is compatible with the program. If you have made a transaction within the last day or so, particular sportsbooks will allow you to watch live sports on your phone. Games featuring a live broadcast may be found on the homepage by looking for a video or real time sports icon. There's also no need to download any feeds; simply open the real time sports stream in your application or mobile browser.

Where Can I Make Live Bets?

Tons of websites allow you to play live bets:

  • 22Bet
  • Betway Sports
  • BetUS
  • BetOnline

What can you bet on various sports?

FootballBasketballBaseballHockey
Player propsPoint spreadTotal hitsPeriod goals
Total pointsMoneyline

Total runs

Handicap
Point spread

Total points

Total home runsTotal goals
Moneyline1st Quarter/1st Half total pointsTotal pitchesMoneyline
1st Quarter/1st Half point spreadTotal strikeoutsPuck line
Winning marginFinal score
Period winner

Live Betting Summary

Compared to how sports betting once was, the present digital age has made sports betting online far more sophisticated, upgraded, and enjoyable. And we've barely scratched the surface. As technology advances and computational capabilities speed up, we will see even more advancements in live wagering.

It will become quicker, smarter, and more comprehensive. It is excellent news for bettors, but it will also benefit the house in terms of advantage and juice. Because live betting has proved to be so successful, casinos worldwide are working on methods to increase their sports betting capabilities.

As you can see, live betting is a very enjoyable kind of betting that is only feasible because of some fantastic technological breakthroughs. You have the potential to be incredibly profitable at live betting if you are a sharp bettor who understands how to evaluate games and sense the flow. Ensure you've thoroughly read this tutorial and understood all of the various components of live wager and how to execute it. Furthermore, make sure you go over the tactics part so you can approach this as an informed bettor looking to earn some significant money. The bookies should be afraid of you now.

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