People have bet on sports ever since these activities came into existence. According to estimates from the American Gaming Association, the US sports betting black market is worth up to $200 billion. Though experts believe that this figure is not an accurate projection, it still has been used by lobbyists to push through gambling legislation.
Once the Supreme Court struck down the Professional and Amateur Sports Protection Act in 2018, US states became able to pass their laws and regulate this pastime. Many immediately did just that, kicking off a North American sports betting boom. Such a trend is worldwide, as there is a digital gambling revolution happening on all continents.
Going by a June 2020 ResearchAndMarkets.com report, in 2019, the global market had a size of $85 billion, set to hit $144 billion by 2024. Contributing factors for its projected rise include increased commercialization of sporting events, growing legalization, and new sportsbook features, such as live sports gambling. The latter also gets referred to as in-play betting, and it provides a blend of entertainment and money-making opportunities.
How Does A Live Bet Work?
Live sports wagering is somewhat new. Previously, you were only able to place a wager before a game officially began. Once it was underway, your only choice was to test your knowledge and luck on a different event and hope for the best on the one that’s already happening. The concept and live betting sites first appeared in 2002, when Betfair dominated the online market. However, the true origins of in-play gambling date back to the 1930s and US baseball.
So, how does a live bet work? Well, it is simple. It involves wagering on an event that is in progress. All other aspects remain fundamentally the same as with traditional betting. That said, there are two subtle differences that we have to mention. The first is the addition of extra bet options, and the second is that the live sports betting odds shift as the game transpires.
Once an event begins, new markets open up, immediately after others close. The options are endless, and they depend entirely on the operator. Customarily, lines move as an event nears. Factors that contribute to this are injuries, news that shift bookmakers’ viewpoints, and on whom the public is backing. If all this plays a role before an event starts, imagine how many aspects can affect the final score once it is underway. These fluctuating odds are the essence of live sports betting strategy and its main advantage.
Is Live Sports Betting Profitable?
It can be if your sports knowledge is up to snuff, and you understand industry workings. With the right moves, you can walk away as a winner.
So, why is live betting better? What separates it from traditional wagering? Well, when sportsbooks release their opening lines, they have time working for them. They do their research on all factors regarding the event, run computer simulations, consult with analysts, look up historical data, and check to see the odds that other sportsbooks are putting up. Thus, it is hard to locate bad lines, as operators have experience and analysis on their side.
That said, once all that goes away, they become vulnerable. As soon as a game begins, factors that algorithms cannot calculate and which experts cannot predict come into play. Thus, a market value appears. No one knows if it will rain or if a specific player will get ejected during a match. All kinds of elements can cause a paradigm shift that creates a new reality, different from the predicted one.
Pros and Cons of Live Betting
So, is live betting profitable? It most certainly can be. Now that is out of the way, let us dive into all of its positive and negative aspects.
As mentioned, one of the benefits of in-play wagering is that you do not have to make a pre-game decision. As events quickly get out of hand, you can take a wait-and-see approach. Judge, if things are going in the direction you predicted. Then, if you believe you have enough data, you can lay down your money. You can also keep an eye out for opportunities and pounce on an event where you may have an edge.
Furthermore, live betting allows you to avoid bad wagers and easily spot value bets. In specific sports, such as basketball, quality usually rises to the top. Thus, it’s always smart to back a losing favorite. With enough time on the clock, better teams can make up the difference. If you believe a team can produce a comeback, you have a chance to capitalize on a market you wouldn’t normally consider. For instance, in soccer, coming back from a deficit is much more difficult. Therefore, finding such value is rare.
The dynamism of live gambling causes edge-of-your-seat drama and boosts the activity’s entertainment value.
A disadvantage to in-play wagering is that the action moves quickly, and you do not have time for analysis. It requires swift reactions, and outcomes may be hard to predict if you are wagering instead of watching the game. At a frantic pace, it may become hard to keep cool.
Live Sports Betting Tips
If you are a total newbie, know that some sites like Safest Betting Sites provide an in-depth guide to live betting with tips, strategies, and reliable sportsbooks for a perfect starting point. Browse through such gambling hubs, and extract all the information you can regarding the industry and upcoming events.
While incorporating an advanced live betting strategy can be of substantial help, an operator’s interface can also make or break your experience. When live wagering, you have to react swiftly, which means spotting opportunities and making bets at the drop of a hat. To do so, you have to be able to see the lines changing in real-time. The operator must have a proper refresh-rate and where you can seamlessly jump from section to section. Never use a platform that is hard to get around and not intuitive to navigate. Being a split second too late could cost you money.
When live betting, always look to hedge your wagers. What does that mean? It is the practice of placing more than one bet on the same match. It is a way to limit losses and remove risks incurred by the unpredictability of sports markets. For example, if the team you bet on is winning, and the line on the losing team jumps for them to mount a comeback, you can place a small in-play bet on them. No matter the scenario that transpires, you should come out ahead.
Also, always select the better odds button. The line will change as you make bets. That’s just the nature of the beast. However, most sites will give you an option that automatically chooses the improved odds and not the ones that were active when you selected the wager. Be careful not to click on the – any odds button, as it can lead to bankroll suicide if the lines dramatically shift in a split second.
Top Live Betting Sites
The internet is swarming with sports betting platforms. Thus, for the average bettor, it may not be simple to differentiate credible from shady operators. The number of betting sites grows year-on-year, and new regions legalize the activity. It shouldn’t surprise anyone if their figure reaches the thousands in the next couple of years.
We suggest that you stick to tried-and-tested platforms that have reliability on their side. BetNow is a Curacao-licensed sportsbook with six years in the industry under its belt and an excellent reputation. It accepts players from the US and worldwide and is a rarity in that it provides a welcome bonus that matches your first deposit up to $500 in cash, not free-play funds.
Betway is a global brand that has made waves in the soccer world by sponsoring teams in the German Bundesliga, the English Premiership, and the Spanish La Liga. They are one of the most trustworthy operators in the sphere with fifteen years of experience, an MGA license, and a two-part registration offer that provides up to $130 in free-play funds.
888 Holdings is another gambling juggernaut; whose digital sportsbook is worth considering. 888 is the company behind one of the internet’s original casinos and the first exclusively licensed US one, 888casino. The 888 brand is an industry pioneer, and its sportsbook launched in 2008. It features a welcome offer that multiplies the winnings on your first 888sports wager (up to $10) by x3.
Thanks to recent technological advancements, in-play gambling has introduced a new dimension to sports betting. It has redefined it, adding a new entertainment factor that layers the experience with thrills. It is an incredible way to find extreme value in the spur of the moment.
However, carefully read through our guide and make sure that you understand all of the nuances mentioned above before committing to in-play bets. Always choose dependable operators, take advantage of promo deals, stick to our tips, and remain level-headed. Chasing losses and blurred judgment can lead to disastrous results. Budget appropriately, and be aware of your bankroll at all times. Remember, gambling should be fun, so don’t get ahead of yourself.