Basics of Live Betting
There have been many developments in sports betting since the invention of the internet. The simple fact that we can bet online is significant enough, but the effect of the internet has been much greater than just that. It has made new forms of betting possible, one of which is live betting.
Live betting is an incredibly simple concept, which is perhaps the main reason why it has proved to be so popular. It has had a huge impact on the way many of us bet on sports events and, in some ways, has made it easier to win money from the bookmakers.
It's also known as in running betting, or in play betting, and the basic idea is simply that you can place wagers on sports events while they are taking place. This means a whole new range of betting opportunities are available, which in turn means more opportunities for making a profit.
In this article we've explained the basics of live betting, the wagers available, and the benefits it has to offer.
The Basics of Live Betting
The basic mechanics of live betting are essentially the same as traditional sports betting. You place your wager with a bookmaker on a selection of your choice, and then you pay your initial stake. If your selection wins you get paid out at the relevant odds, and if it loses the bookmaker keeps your stake. The only fundamental difference is that you can place your wagers after an event has started.
This one difference changes things quite dramatically, particularly in how bookmakers have to operate. With traditional betting they set the odds and lines for a fixed range of wagers before an event starts. They may have to change the odds and lines a few times to keep their book balanced, or if new information comes to light which affects the likely outcome, but such changes are usually fairly minimal.
With live betting, the bookmakers have to change the odds and lines almost constantly. The likelihood of various outcomes can change dramatically as an event progresses, and they have to react to that in real time. If a football team races into a big early lead unexpectedly, for example, that may result in the odds changing significantly. The point spread is also likely to change, and possibly the totals line.
Bookmakers may also have to change the actual wagers on offer. If a player wins a penalty in a soccer match, for example, they may add a market on whether the penalty will be scored. If a tennis match goes to a tie-break, they may add new markets for the tie-break.
The actual process for placing wagers when live betting is pretty much the same as normal. You still have to navigate to the market you want to bet on, pick your selection, and then enter your stake. You just have to be aware that the odds are constantly changing, so you need to be quick. You'll also have a lot more wagers to choose from.
Live betting provides a whole host of different betting opportunities, because there are several wagers that can be placed in play that simply can't be placed prior to an event starting. At any point during a football match, for example, you can bet on which team will score points next, or on the outcome of an individual play. During a soccer match you can bet on which player will score the next goal, or which team will get the next corner.
It would be impossible to list all the wagers available in live betting, because there are so many of them. The following screenshot shows all the open markets at a sports betting site for a single tennis match. This should give you some idea of just how many different wagers are available.
It's worth noting that the available markets and wagers will vary from one sports betting site to another, as will the number of sports covered. Some sites offer comprehensive live betting on a wide range of sports, but many just focus on the most popular ones. At most sites you'll be able to bet on at least some of the following sports.
Benefits of Live Betting
One of the biggest benefits of live betting is what we've just discussed: the additional wagers available. With a greater choice of wagers, you have a better chance of identifying an opportunity to make money. Even if you are really struggling to predict the winner of an event, there are plenty of other markets you can bet on.
Another major benefit is that live betting allows you to make judgments which are much more informed, particularly if your sports knowledge is very good. By watching some of the action you may well be able to form a much clearer idea of what is likely to happen. If you can react quickly enough to what you're seeing, you can gain an edge over the bookmaker in the right circumstances.
Live betting is also a great tool for managing risk. You can use certain techniques to cut your losses if an event looks like it's turning out differently to how you expected, or to lock in some profit when things are going according to plan. Take a look at our article on hedging if you would like to learn more about these techniques.
The final point to mention is that live betting is a very exciting way to bet. You should definitely try it at some point, even if it's just for fun. It's not at all difficult to get started and you might actually find that you can make some money from it. Just make sure you use a reputable site which has a decent live betting platform.Best Live Betting Sites
Author: Brad Johnson
Updated: March 2015
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