What Is Live Betting?
We all remember those days. We're stuck at work because the boss wanted to hold a meeting that could have simply been an email. You have five minutes left to call your bookie to place that last minute bet. It’s too late. The game has already started, and you don't have action on it. Thanks to the invention of smartphones and live sports betting, it’s unlikely we ever run into this scenario again. Live betting is one of the most popular ways to bet on sports due to the convenience and opportunities it offers.
What is Live Betting?
The majority of sports bettors place bets before the start of a game. If this isn't a possibility, most sportsbooks offer live betting. Live Betting allows you to bet on games that are currently in progress. As long as you have access to the internet, you can bet on most, if not all games being played. When live betting was first offered, the books usually only accepted bets at breaks, such as after each quarter or at halftime. This is great but it doesn't satisfy the degenerate gambler we all have in us. We want action, goddamnit, and we want it every five seconds! Thankfully, most books heard our pleas and now offer updated lines after each play.
Advantages of Live Betting
Waiting for Value
If you wanted to bet on a favorite but the initial lines are just too high, you could wait and live bet and receive a more favorable line. Here is an example in the NBA:
Before the game, the Bucks are a -10 favorite. During the first few minutes, they have a slow start and allow the opposing team to score 10 unanswered points. Because the Bucks are getting shut out, the live spread would drop down to about -1 or even. Being the sharp bettor, you know the Bucks are a much better team and they will eventually come back. So you hammer the current line.
However, the opposite of what you want can also occur. The Bucks might not come back from that deficit or they could come out on fire and you might not see a line even close to the original one for the entire game.
You can also use live betting to hedge bets you place before the game starts. For example, let's say you took the Colts spread at -3 pregame. If the opposing team hits a pick-six due to a flukey-tipped pass, this would cause the books to reduce the spread. If this happened and you took it an additional bet at say +3, this would allow some cushion in case the Colts continue to struggle. What's great is that you win both bets if they do end up coming back and covering the original line at -3.
Mistakes to Avoid
Not Paying Attention
A common mistake is not watching the game but still wagering on it. If you are not watching the game, you won't be able to pick up little things that the scoreboard isn’t showing. These could be injuries that have occurred, momentum swings, and game flow. There's nothing worse than betting on a team live and finding out that their starting QB is out for the remainder of the game.
Getting Carried Away
Because live betting offers the opportunity to bet on hundreds of games across multiple sporting events, you might want to set a limit on how much to risk on live betting. You might catch yourself betting on some obscure sport at 3 AM, like European Snooker...
Not Knowing Your Way Around the Site
Lines move fast, and I can't tell you the number of times I took the wrong side of the bet because I was trying to rush to get a certain line. Not knowing your way around the site could also cause you to not get a bet in on time. And you'll be stuck there watching that sweet opportunity slip away.
Live betting can provide you with some amazing opportunities to make some serious dough. It can also make you want to rip your hair out if you don't pay attention and know what to look for. There is only one way to improve, and that's exposure. Next time you see a swing in momentum or game flow, go try live sports betting. Or better yet, just keep browsing The Odds Factory for more advice and tips on what to bet on.