Here’s the Ins and Outs of live betting.
– Sports betting continues to increase in popularity on a daily basis. Thirty-two of the 50 U.S. states now offer some form of sports betting.
– The biggest trend right now in the industry is live betting, which is exactly like it sounds. Bettors can now wager on a game or other sporting event as it is taking place.
– How does it all work and how can bettors use live betting to their benefit?
With the advances in internet technology and in sports betting software, sportsbooks are able to offer what amount to live odds and lines on a wide variety of bets. So we’re clear, live betting is also referred to as in-game or in-play betting.
Usually, odds/lines are updated whenever there is a stoppage of play in a game. Take a timeout in football or basketball. Odds/lines will update and bettors can then bet (or not bet) accordingly.
Traditional moneyline, point spread, and totals bets are just a few of the many live bets offered. Smart bettors learn how to spot value in live bets. The whole live betting scene is relatively new and sportsbooks are still learning and adjusting. Bettors are too.
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Advantage of In-Game Betting
Since live betting is still relatively new, the markets are still somewhat less efficient than the traditional markets. Sportsbooks make most of their money on point spread, moneyline, and totals bets. That is where they focus.
As a result, bettors can often find strong value on many live bets. They just have to know what to look for. Take the following example.
The favorite scores just before halftime to push the score to 21-7. The favorite was listed at -4.5 prior to game time. The betting line has now jumped to -7.5.
The smarter bettor has watched as the underdog advanced inside the favorite’s red zone and came away with zero points on two turnovers. The live bettor takes the underdog at +7.5 sensing that their strong offense is eventually going to score some points.When the favorite wins by five, the live bettor is a winner.
The live bettor also looks like a genius, which is something betting live can help with. Bettors can win more often with a solid live betting strategy.
There is also the ability to get in on the action on a game or event that you missed pre-game.
For whatever reason, you weren’t able to place a pre-game bet. With live betting, you can still find action on that game. You can also look at betting player props. Maybe you’re watching the game and vibing on a particular player. Check the betting menu at your sportsbook, or think about betting offshore where you’ll get unlimited variety.
Live Betting Strategy
The most basic and simple strategy for the sports bettor to follow when engaging in live betting is this – watch the games you are live betting. Do not place live bets on games that you are not watching.
Watching a game live gives the bettor a whole set of information that can be used to make higher value bets. There are things a bettor can see while watching a game that can be invaluable. Momentum shifts and the players’ body language can be seen and interpreted, for example. This information can help in making smart betting decisions.
Another easy live betting strategy is to shop for the best live lines and odds. You probably do it for pre-game bets, so why not do it for live bets? You may find a live moneyline at +150 but find the same live bet at another sportsbook for +170. That’s an extra $20 on a $100 bet.
One strategy live bettors should consider is looking for pre-game favorites that are trailing early in a game. In many cases, there is usually an overreaction by sportsbooks. Take a typical NFL example.
Let’s say the Rams are a 3-point pre-game favorite over the 49ers. The Rams are losing 14-0 at halftime. The live line adjusts and is now Rams +6.5. Now, the Rams were favored for a reason. They were expected to beat the 49ers.
The smart bettor wagers on the Rams +6.5 thinking they will come back. They do and end up losing by five. The live bet made earlier is a winner.
What Not to Do
Live bets can also be used as a hedge against bad pre-game bets. In this example, it appeared the Ram -3 was going to be a bad bet. Betting the Rams +6.5 was a hedge on that pre-game bet.
As we have seen, there are many benefits related to live betting.
If there are a two things the live bettor should not do they are these:
1. Do not live bet too many games at once. It’s difficult enough to watch one game and bet at the exact right time. It’s very hard to keep up.
2. Do not use live bets to correct a bad bet or a bad loss. Use live betting wisely when there is value and an opportunity for money to be made.