Live Sports Betting
There is no denying it, the live sports betting industry has experienced loads of drastic changes over the past two decades.
The live betting market has managed to change or improve up to a point where it’s nearly unrecognizable, and none of this would have been possible without some assistance from the internet.
Using the internet to place real money bets is obviously an enormous improvement. This might not be so significant for those who can’t remember what it was like before the world wide web, but for the rest of us, it’s quite incredible.
Out of all of the developments over the years, there’s one that has been truly remarkable among those who enjoy betting on sports. The introduction of live betting, or in-play betting. It has completely changed the way in which most people bet on sports.
In this article, we will take a closer look at what live betting really is followed by the advantages and disadvantages of this new form of betting. We will also discuss the best live betting sportsbooks from around the world, give you valuable insight into the live betting feature on mobile devices, and assist you in placing a horse bet while using the live betting feature.
Online Sportsbooks Offering Live Betting and In-Game Wagering
What are the best sportsbooks for live betting?
Before you start searching for the best live betting sportsbooks, you will first need to ask yourself – why do I bet on sports?
Most bettors will say that it adds an additional layer of entertainment to the match they are going to watch. It also provides additional suspense and tension to the overall experience. It essentially provides another reason to care about the game or match.
Therefore, it’s safe to say that the concept of a live betting experience, where you will get the opportunity to make several wagers during the match, would definitely dial up the entertainment, suspense and tension factor even more, right?
It certainly does – and the best thing about this is that live betting sportsbooks actually exist.
You are welcome to place an assortment of wagers in real time, where the odds and types of bets will change as the game unfolds. More and more sportsbooks are offering this option these days, so choosing an online sportsbook will a live betting platform will become more and more difficult as time goes by.
Fortunately, we are here to help. Let’s face it, why register with a subpar online sportsbook when you can place a bet with the best? With that in mind, let’s take a look at what the best sportsbooks that offer live betting have in common.
Similarities Between Betting Sites
The qualities we list below are the similarities that the top sportsbooks share over and above the core qualities that every single sportsbook should impress with.
Loads of Markets
When online sportsbooks were first introduced, it only featured the most popular sports in the world.
These days, you can find sportsbooks with a more rounded sports selection. However, only the best sportsbooks will have the widest selection of sports.
Please keep in mind that most sportsbooks will only display sports that have lines, coinciding with the sports that are in season. For instance, you won’t find any MLB matches during January.
Therefore, when evaluating the sports selection, remember that the current selection will not be a good indicator in the sporting events covered by the site.
It’s for this very reason that we suggest you read our betting reviews to get a better understanding on the sports that are covered.
Loads of Betting Options
When it comes to choosing one of a sportsbook for live betting, ensure the sportsbook you are looking at comes equipped with a wide range of unique betting options.
The more betting options you find under one virtual roof, the better.
This option is usually only available at premier sportsbooks that cater to international clients. Each match or game is streamed in real time, giving you the opportunity to watch the game directly from the site.
Mobile Sports Betting App
The absolute best will come equipped with a dedicated mobile app, or at the very least, a mobile sports betting site.
This will allow you to stream games from the palm of your hands, check scores, place bets, and watch the action unfold at the same time while away from home.
Cash Out Option
This betting feature is quite unique and you will only come across this option at a handful of online sportsbooks. This feature will allow you to cash out before the bet is settled. Should you watch a match and the outcome is different to what you initially predicted, you can simply cash out to minimize your losses.
Live Betting Promotions
This is another feature that only a few online sportsbooks will offer. There are a couple of sportsbooks that provide rebates and free bets on your initial live bet. It’s also a marvelous way to evaluate the site risk-free.
What is Live Betting?
Live betting is extremely simple. Live betting allows you to place a bet on a sporting event after the match or game has started. With traditional sports betting, you need to place your bet before the match or game gets underway.
The difference between live betting and traditional betting has obviously opened up brand-new possibilities when it comes to betting. Live betting is a fantastic way for bettors to get an edge over sportsbooks.
This is basically all there is to live betting. It’s essentially the same as traditional betting, but gives you more freedom and control to place bets during the match as well.
You will have fixed odds when you place a bet. If your selection is incorrect, you lose. If it isn’t, you win your bet.
Additional Types of Bets
Most of the bets you place during a sporting event will not be possible when it comes to traditional betting.
For instance, looking at a soccer match and using goal scorers as an example.
With traditional betting, you can bet on the player that might score first. After the player has scored a goal, that specific market will be settled.
When it comes to live betting, you will have the freedom to place a bet on the next player that might score a goal.
When it comes to betting on the next player to score a goal, the market will be settled once the player scores a goal.
Immediately after the market closes, a new market opens once again for the next possible player to score a goal.
This will repeat throughout the game each time a player manages to score. This is only one example that can be used in live betting.
Other betting options to when it comes to soccer, including:
- Team to win next corner
- Time of next booking
- Next player getting booked
- Time of next goal
- Next team to score
While these markets will be available in a vast selection of other sports as well, you will also be introduced to a number of unique markets that are specific to a sport.
For instance, in football you can bet on how far the upcoming drive might be, as well as whether the drive will turn into a turnover, touchdown, or field goal.
In cricket, you can bet on how many runs will occur in the next over or which bowler will be able to take the next wicket. In tennis, you can bet on who will win the next set or who will break the next serve.
As previously mentioned, the betting possibilities in live betting are truly endless.
Odds Continuously Change
With traditional betting the odds will usually move once you get closer to the upcoming sports event. This will occur when there is a significant alteration in conditions.
For instance, let’s say the Green Bay Packers are about to face the Kansas City Chiefs.
A few days prior to the match, the money line market might look like this:
- Green Bay Packers: -240
- Kansas City Chiefs: +220
As it stands, the Packers are comfortable favorite in this match. However, let’s imagine that an announcement is made that Patrick Mahomes II and Tony Gonzalez (quarterback and tight end) were both out of the match due to injury.
The market will move and eventually look like this:
- Green Bay Packers: -200
- Kansas City Chiefs: +170
Once the announcement was made, we can see that the Packers are still considered favorite, but not as much as before. The new information changed the outlook of a sportsbook, giving the Chiefs a better chance to win the match.
Sportsbooks will also change the odds based on the amount of money they take in.
Odds will be reduced for selections that see a lot of money, while odds are lengthened for selections that are not getting enough money. In most cases, these changes are rather small but occur quite regularly.
When huge information is announced, such as the example we included above, you will see significant changes to the odds. In our example, it was two significant injuries prior to the start of the game. Now imagine how much actually happens during a sporting event that can play a role on the outcomes of the game? It’s for this reason that the odds are constantly updated during a match.
Advantages of Live Betting
Live betting is ideal for increasing your chances of winning. It has loads of advantages when compared to traditional betting, and when an optimal betting strategy is incorporated, it can provide significant value for your hard-earned money.
One of the most notable advantages of live betting is the additional betting types. Not only do they offer more betting opportunities but they also enrich the overall betting experience.
When you get the opportunity to bet on the time a player will score the next goal, for instance, it will make you more alert while you sit there with your fingers crossed waiting for that particular minute to come around.
You will also notice that these wagers will come equipped with better odds which will allow you to win more money.
Another advantage is the ability to place bets while the match is underway, increasing your chances of making a correct prediction.
With some experience, you’ll be able to correctly predict the outcome of the game when you evaluate the intensity of the game, the formation used by each team, or when a key player gets injured.
For instance, when a red card is given to a defender in soccer, you can already predict that the team won’t win the match.
The changing odds is another advantage. The odds will provide far more value as the game unfolds compared to the odds given in traditional betting. This will give you the ability to gain an edge over a sportsbook.
Disadvantages to In-Play Betting
Like everything else in life, live betting, or in-play wagering also come with a few disadvantages.
For instance, a disadvantage to live betting is the fact that you will constantly need to keep your eyes on the game. It’s impossible to correctly predict an outcome during a live betting experience if you don’t concentrate and watch the match.
The same goes for the pace of live betting. More bettors enjoy the fact that they have time to do their research on team statistics, the weather, the players that will be included, and so on.
With live betting, there’s no time to assess any information as everything is taking place way too fast. There’s no time to think, there’s only time for your next bet to take place.
Is Live Betting Available in Mobile Apps?
Live betting mobile apps have managed to add a brand-new dimension to sports betting on mobile devices, giving you instant access to a plethora of in-play betting markets along with tons of other unique features.
These can include live streaming capabilities and exclusive live betting promotions that can be accessed directly from the palm of your hand.
The accessibility and convenience of making a bet on a live game using your phone will give you the power to always be in the center of the action, regardless of where you are in the world.