Despite the similar-sounding names, live betting (in-play betting) is different from in-play betting and offers a lot more to sports bettors. In-game betting is only betting while the game is in Play. In-game sports betting odds usually only change during pauses or commercial breaks.
The slight difference between the two betting options is that live betting play throughout the match. The odds change almost every Play or possession throughout the match. Live betting is currently available for betting opportunities on specific games. There are no individual live bets proposed for particular players. The types of live betting can and should change in the future.
Live Betting Odds
As with traditional pre-match odds, each sportsbook can have different live betting odds. The probability of an event in progress derives from a proprietary algorithm of the sports betting application developer.
Every top online sportsbook adds its desired edge to the probabilities and odds in its algorithm, calculates it, and offers it to its customers. Even if sportsbook operators use the same betting app and algorithm to calculate in-play odds, live betting odds can vary.
It would be a lot of work and next to impossible for individual bookies. Thanks to technological advances, computers can process all of this in seconds.
How to bet
Live betting is done through mobile sports betting apps. Bettors must focus on the game and the odds screen when placing live betting. Some live betting may only be available for a few seconds. Depending on the sport, the odds become different after almost every game. If there is a certain number to bet on, the chance may only be 10 to 20 seconds away.
Live betting is not for everyone. In addition to knowing what each bet is for, bettors must be quick to draw. It usually means that the bettor must turn on the mobile device and log into an account (or accounts).
Why live betting is good for bettors
Live betting is helpful for bettors who need to place bets before the game starts. Unlike game betting, there are various betting options during games, including spreads available for live betting, alternative spreads, money lines, and totals.
Since the data updates in Real-time, the odds should be fair. Every sports betting operator puts an edge into the betting price so that some odds may be more appropriate. As with pre-match betting, it’s wise to shop around at different sportsbook operators to see which offers the best prices on in-play betting.
These betting options are available throughout the game and allow bettors to bet on the other side of a potentially losing bet. Additionally, bettors can play both sides to the “middle” of the game. It allows bettors to maximize wins on both sides of the difference if the final score falls halfway between the two bets.
Why live betting is exploding in the US
Online live betting in the US is still in its infancy but will become very popular over time. Bettors all over the world are taking live betting. According to Craig Mucklow, vice president of trading at Don Best Sports, more betting places during European games than before.
However, in-play betting still accounts for less than 20 percent of most sportsbooks in Nevada. At the high end of live betting, William Hill sportsbook director Nick Bogdanovich told the Las Vegas Review-Journal that in-play betting accounted for 22 percent of William Hill’s betting volume in 2017. One of the leaders has a lot of room to grow in live betting in Nevada.
All sports betting operators in Nevada still do not offer live betting online. Deploying live betting with more sports betting operators should start to take off in Nevada this year.
Once every sports betting operator has the technology to deploy it, online live betting should significantly increase. The subsequent growth spurt could come from the introduction of new betting options.
Pre-match player proposition betting is becoming more and more popular every year. One-player offers become available for live betting, and we should see the popularity of this betting increase again.
Overall, once sports betting is legal in the United States, all types of betting will become more popular. At this point, sports leagues and TV networks should get involved in sports betting. While football and basketball are likely the most popular sports to wager on during games, the options will be limitless and may include sports such as tennis, golf, and soccer.