Live betting means sports betting in real time during running competitions. The difference between live betting and conventional sports betting is that with the former, bettors place their bet in real time while the actual competition is running, while the latter requires players to fill out a betting slip in advance. Sometimes these types of bets are also referred to as in-play bets. They are very popular with soccer, tennis and ice-hockey.
The nature of this type of sportsbook requires bookmakers to constantly adjust the odds to the course of the game, which in some cases allows for very appealing figures, for example when the chalk is behind but still manages to win the game in the end.
The betting portfolio as well as the various betting options for live bets are very comprehensive, with some bookmakers almost unlimited. Besides the conventional live bet with regards to the next game changing situation, some bookmakers even offer to place bets on completely irrelevant or unimportant situations, such as the next yellow card or how many corner kicks the game will have.
Why engage in live betting
Due to the direct involvement in the course of the game, especially with regards to situations that might otherwise not be of any interest at all for the conventional sports betting fan, in-play bets require the bettor to focus exclusively on what is happening on the pitch or race track, depending on what type of live bet was chosen, as almost any situation might be relevant for the win or loss of the bet.
The additional challenge of in-play betting certainly is the need for bettors to act quickly. On the other hand, the result of the bet might be available even more quickly, as it is independent from the final result most of the time. For example, if a bettor senses an imminent change of dynamics within a game, which might be due to the injury of an important player or because a red card was issued, it is possible to place a corresponding live bet on the likeliness of which substitue player enters the pitch, and within a few minutes after the bet was placed, the bettor already knows whether the bet was won or lost.
Live betting allows for immediate corrections of lost bets
Under certain circumstances, in-play sports betting gives bettors the opportunity to challenge their fate again immediately after a previous bet was lost and thus make up for the failure by placing a new live bet. However, due to the frantic nature of live betting and sports gambling in general, bettors are well advised to not act hastily, as the huge scope of available betting opportunities combined with the pressure of the ticking clock might cause even bigger losses.
Nevertheless, the biggest advantage of live betting certainly is the fact that bettors have more information readily available to base their decision on. Apart from external influences like weather, condition of the pitch or race track, within the first few minutes of a game, bettors will be able to assess the actual constitution of the contestants, the offensive or defensive strategies of the teams and even tactical subtleties which might give the leading edge to one of the opponents and thus allow for a successful bet.