Even though the names sound similar, live betting (in-play betting) is different than in-game betting and has much more to offer sports bettors. In-game wagering is simply wagering on a game while it’s happening. Sportsbook odds for the in-game will usually only change during a timeout or commercial break.
The subtle difference between the two betting options is that live betting takes place throughout the game. Odds will change after almost every play or possession throughout the game. Live wagering is currently available for game-specific wagering opportunities. There are no individual in-play wagers available for specific player propositions. The types of live bets could and should change in the future.
What is live betting?
Like traditional pre-game odds, every sportsbook could have different live betting odds. The probability of the in-play event occurring comes from a proprietary algorithm from the sports wagering app software developer.
Each top online sportsbook adds their desired edge to the algorithm’s probability and odds are computed and offered to the customer. Live betting odds may be different even if sportsbook operators use the same mobile wagering app and algorithm for their in-play odds.
This would be a lot of work and nearly impossible for individual bookmakers. Thanks to advances in technology, computers can process all of this in a matter of seconds.
How to place an in play bet
Live bets take place via mobile sports betting apps. Bettors have to be very focused on both the game and odds screen when placing in-play wagers. There may only be a few seconds when some live wagers are available. Depending on the sport, the odds change after almost every play. If there’s a certain number available that makes sense to bet, the opportunity may only be available for 10 to 20 seconds.
Live betting isn’t for everyone. In addition to understanding what each wager is for, the bettor must be quick on the draw. This usually means that the bettor must have a mobile device turned on and be logged into an account (or accounts). The accounts should be funded so a wager may be placed as soon as the numbers make sense for a bet.
Get Real-Time Live Betting Odds at Online Sportsbooks
Why is live betting good for bettors?
Live betting is useful for a bettor who misses placing a bet before the games begin. Unlike in game wagering, there are multiple betting options available during the game including; point spreads, alternative point spreads, moneylines, and totals available with In Play wagering.
Since the data is updated in real time, the odds should be fair. Each sportsbook operator places an advantage into the price of the wager so some odds may be fairer than others. Much like pre-game wagering it’s wise to shop around at different sportsbook operators to see which offers the best prices for In Play wagering.
These wagering options are available throughout the game and they also allow a bettor to wager on the other side of what may be a losing wager. Additionally, bettors can play both sides of the game in an effort to “middle” the game. This would allow the bettor to have both sides of a point spread and possibly maximize a win if the final score falls in the middle of the two bets.
Live betting is extremely convenient for bettors. Users in legal sports betting states can now deposit and withdraw funds into their account from the comfort of their couches. They can use payment methods such as debit cards, credit cards, PayPal, and Venmo to fund their account.
Why live betting is exploding in the US
Live betting in the United States is one of the more popular ways to bet, particularly with mobile users. Sports fans in over 30 states can now bet on sports from the comfort of their couch, and many of the bets they place occur while the game is going on.
Fans who watch “their team” routinely can often spot when it looks like it’s going to be an off-night or a strong night early on in the game. There are also dozens of props available to bet on during the game, such as player point totals and more.