Live betting differs from regular betting on sports events where bettors are only able to place bets before a match starts.
Although not all bookies provide live betting, the majority of online sites do, often with live coverage of the events as well.
Before you start betting on live matches, you need to learn a few things about live betting first. Unlike betting on fixed odds, the odds in live betting are constantly changing depending on the course of the match. For example, if you’re betting on a football match, the odds for the favorite may go even lower if that team manages to score a goal first. This gives bettors a chance to change their mind, but it also makes things harder to predict.
Using the new information from the match, bettors can place opposing bets to what looked like a certain bet before the match started. Live betting works best for football matches, horse races, basketball, and other sports.
Now, although it may look simple, live betting is a bit more complicated than other types of betting. It’s generally not recommended for beginners as all the options may be a lot more confusing. Like with any type of online gambling, there’s no certain way to win, but at least you get the chance to adjust your bets.
How Does Live Betting Work?
Most online bookies use a complex computer algorithm which updates the odds as the match progresses. When something happens in the match, for example, a goal is scored or there’s a red card, the system suspends the betting until the odds are worked out. That happens pretty fast, though, so you won’t have a lot of time to react. This happens several times during a match, and once the odds are available, you can place your bets.
The algorithm doesn’t rely on the event changes only. It calculates the odds by using information from past events as well. This is exactly what makes live betting the greatest achievement in sports betting and the most complex type of betting.
Types of Bets and Markets
There are many live markets you can bet in during a match. Although the odds differ from one bookie to the other, most offer live betting in markets such as next team to score, time of next booking or goal, next yellow or red card, next team to get a corner, total goals scored, etc. Of course, all the markets change as the match moves forward. When you place a bet, you will do so at fixed odds and get paid accordingly.
When it comes to the types of live bets offered, they can either be traditional, prop bets or parlays. Traditional bets, for example, will be available before and after the match starts. Of course, the odds will differ as soon as the game begins. If something happens, the favorite can quickly become an underdog, giving you a chance to earn a nice sum. Of course, besides the full-time winner bets, you’ll still be able to bet on totals, over\under, and other markets.
Prop bets, on the other hand, allow you to place bets in special markets such as goals, yellow and red cards, and individual (player) markets as well. They shouldn’t be overlooked as statistics and deep pre-game analysis can help you determine the number of goals in total or how many yellow cards the referee will show. The odds for prop bets tend to be higher than the usual, which means they’re less likely to be won. However, the risk will definitely be worth it when you triple your investment or get even more.
Finally, some online bookies give you a chance to turn your single bets to parlays. If you’ve ever tried a parlay with live bets, you know how much fun and exciting it can be. It’s the ultimate rush for some bettors, yet we wouldn’t recommend to beginners.