Global Sports Betting
US Sports Betting
Live Betting, also called ‘in-play’ or ‘in-running’, is defined as the act of placing wagers on an event, match, or race while it is still in progress. This type of sports betting is growing very rapidly at online bookmakers and live betting exchanges. On this site you’ll find valuable betting strategy tips applicable to both in-play and pre-match wagering. Below is an overview of the best live betting sites, and an introduction to live betting strategy.
Live Betting Sites
Although live betting is more popular than ever, some online bookmakers aren’t offering it yet. This is especially true in the US where one of the only reputable betting sites that offer live betting is Bovada.lv, who offers a play-by-play wagering platform called Bodog Live. In Europe however, more online bookmakers offer live betting because sports betting is legal, and punters expect it to be offered. This is where in-play wagering is most popular. For example, one of the UK’s most reputable bookmakers is Bet365.com, and they offer live streaming video for popular sporting events from their website so punters can watch matches as they bet on them.
At Bet365 Live, punters can watch & bet on domestic football matches, as well as Italian Serie A, UEFA Cup, La Liga, Portuguese Superliga, MLS and more. They also offer live streaming video & live betting for cricket, tennis, rugby, NFL football, MLB baseball, NHL hockey, NCAA college football & basketball, golf, F1, volleyball, and a number of international basketball leagues. All games streamed on Bet365 Live are equipped with an in-play betting menu so punters can instantly place their bets. There are other European Bookmakers offering the same, including BetFair, Paddy Power, and Ladbrokes. However, Bet365 has the best live betting overall, and also offers more currencies and languages than their competitors.
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Types of Live Bets
Live bets for every major sport can be found, along with a few less popular sports as well. As popular as live betting is becoming, expect to see more sports being offered. The types of live bets that are available depend on the book, and the sport. Some sports make it easy for books to create live bets, and others are more difficult.
For example, it’s simple to create live bets for sports with a lot of scoring. Tennis, rugby, cricket, American football, baseball, and basketball are all great sports for live betting. In tennis, punters can bet on who will win each game, each set, how many aces a player will record during a set, and more. In baseball, bettors can wager on every batter, and a wide variety of statistical things that happen during a game.
Other sports might have fewer numbers involved, but still have enough things going on to make it easy to create live bets. For example, live football bets can be placed on which team or player will be next to score or how they will score. We can also bet on the final score of a match, with odds continually changing as it plays out.
Formula 1 is a sport that makes it difficult to create live bets. There are no points, periods, quarters, or half times. Most of the live bets that are available for this sport are the same as the ones available before a race begins. The only difference is that the odds change during a race.
In-Play Betting Exchanges
A betting exchange is a wagering platform where peer to peer betting takes place. The world’s largest betting exchange is www.betfair.com. According to a Wikipedia entry, more than £50 million is wagered at Betfair each week. Explaining the concept of betting exchanges is rather simple. A punter can log in and choose to back a certain team. In order to do this there needs to be punters on the other side laying that team, which for the most part there always is. Alternatively, the punter can choose to lay a team, which has him effectively acting as the bookmaker; he’s betting that this team will lose. You can learn more about this on our page on Betting Exchanges or grab a £25.00 risk free exchange bet via this special link.
At betting exchanges in-play wagering is incredibly popular. During a match you can continue to either back or lay teams. The huge advantage to this form of wagering, often called trading, is that bettors only pay commission on their net win for each market. So for example, if through a series of live trades you lose $1500 on Spain and win $1800 on their opponent Germany, your profit is $300; this is the amount you pay commission on. The idea that hedging is –EV really doesn’t apply to exchange betting; it still can be, but often times reversing your bet to lock in guaranteed profit is neutral EV and might even be +EV.
Sports Spread Betting
Another area of in-play betting that doesn’t get too much focus is sports spread betting. This sports betting variant works much like financial trading. To run through it quickly, there was a Euro 2011 U21 match where prior to the match starting England was favoured over Czech Republic and the spread was 0.30 – 0.50 goals. This match was won by Czech Republic by a 2-1 score. Let’s take a quick look at how spread bettors faired.
Those who “SOLD” England won by 1.3 goals. This is because a SELL bet on the favourite gives you the underdog spotted the lower end of the spread. So a £100 per goal punter scored £130 in profit. Now on the other hand those who “BOUGHT” England lost by 1.5 goals, because a BUY wager is a bet on the favourite and you start behind the higher end of the spread. So here a £100 per goal punter lost £150.
This is just one example of a sports spread bet. There are dozens of other markets such as corners, shirt numbers, runs in cricket etc. Although popular matches are generally available for in-play wagering, this is a tough way to profit as spreads are generally quite large for in-play. Be advised this is an easy way to go broke in a hurry, most bettors will want to stick to recreational sized wagers at www.bet365.com or no-vig live trades at www.betfair.com.
Live Betting Strategy
In order to properly cover live betting strategy we need to first look at how sports betting works. This will lead us to discussion of one of the major benefits in-play wagering offers. I’ll then conclude with some basic strategy that could lead you to additional profits this sports betting season. Let’s go ahead and get started by explaining the basics of sports betting odds.
How Sports Betting Works
Sports betting on any game, starts with a particular betting site opening the odds and taking wagers. Which site opens first depends on the sport, but once the odds open, dozens of sites follow within minutes each carrying conservative maximum bet limits. If betting sites find themselves hit with lopsided action consisting of maximum bets on one team or the other, this is a sign the odds maker that opened the odds handicapped the game different than sophisticated punters who are wagering on the opener. The goal of the betting sites is to then adjust and keep adjusting the lines until lopsided action from professional punters ceases. Upon finding a point where smart money is no longer interested, they’ll increase their maximum bet and keep increasing it right up until game time.
I won’t go into advanced market theory, but it is important to know that sports betting lines are sharpest and carry the highest maximum limits just prior to a game starting. Oddly, many novice bettors buy into the idea that sports can be beaten by going against the public. Their theory suggests that if you find out what most the fans are betting and then bet the opposite you’ll win more often than lose. This is silly, because the betting odds are incredibly sharp and you need to beat the vig. If a bookmaker hangs out bad lines that catered to fans (who mostly bet $100.00 per game) they’d be eaten alive by the hundreds of €5,000 and €10,000 per game professionals and the few dozen syndicates capable of placing €500,000 or more on a given match.
The bottom line betting lines are for the most part efficient. The odds offered just before a game begins generally represent the true probability plus bookmaker advantage. You cannot beat sports by fading the public, if you do it is just variance and eventually you’ll regress towards the mean. The reason: if the odds were +EV one side or the other professional bettors would keep firing in bets until the bookmaker adjusts.
Sports Betting Can Still Be Beaten
A lot of people are disappointed when finally learning sports betting is an efficient market, feeling if they could just fade the public life would be so much easier. Of course, yes it would be easier, but at the same time there are many ways to beat sports betting. The website oddstracker.com touches on derivatives right on their home page. For Americans consider researching Wong Teasers. If you live outside the US consider the information in our article on Bet365 Football odds. The truth is, there are dozens of ways to still profit from sports betting and live betting can be one of those ways.
Reason Live Betting Can be Quite Profitable
There are several reasons live betting can be profitable, but for starters: for in-play wagering odds are created nearly “on the fly” each time the game’s circumstances change. Bookmakers offering live betting are experienced with this; however, when a key player is injured, or ejected, moments later there is a score and suddenly it starts to rain there is a lot to consider. Of course all three of what I just mentioned occurring in a 3-minute timespan is rare, but all games have unique circumstances and these circumstances change considerably throughout any match. Unlike pre-match wagers where the betting site can slowly adjust odds and balance action, here they have to act fast.
In pre-match betting the closing line, meaning the line just prior to the game starting, represents the opinion of hundreds of the sharpest bettors in the world. In live betting odds do quickly settle in, but initially, the shifts and changes as the match progresses represent the opinion of a much smaller pool of sharp bettors and odds makers. Also the public (fans / novice bettors) who don’t nearly put a dent in pre-match odds have a large impact on live betting odds.
One of the best ways to beat live betting is to look for situations where you feel the market will overreact or underreact. If you know a team generally plays well from behind, and probably isn’t as much of an underdog as the market might consider them should their opponent score an early goal, then you can look for this situation, wait for the market overreact, and then back that team. On the other hand if you feel teams are doomed once falling behind early and expect the market won’t account for this properly, then you can look for this and lay that team as soon as their opponent scores.
Basic Live Betting Strategy
There are hundreds of strategies that can be used to gain an advantage in live betting, most of these involve coming up with a game plan in advanced. Let’s say we know a strong team generally starts off slow and picks up pace later in the match. An option here is to shop their opponent prematch getting the best odds possible. When they do start off slow we can then back them via a live betting site for guaranteed profit. When you use this strategy along with bonuses and promotions, this can be amazingly profitable.
Another common strategy used is to lay the draw at Betfair, this means you’re wagering that there will be no draw. As soon as there is a goal scored you can then back the draw at far better odds, locking in a guaranteed profit. Most games have at least one goal, the time this strategy doesn’t work well are the times there is a nil-nil draw or the times there is an answered goal within minutes of the first. Other than that this strategy works well.
Of course we do need to mention that all forms of sports wagering have risk. Live betting tends to have even more risk because a lot of decisions are made on impulse and this can lead to sticky situations where you’re not sure what to do. For this reason: have a plan, always stay within your bankroll limits, and don’t ever risk more than you are comfortable losing should things not go your way. If you’re just a fan looking for recreational action, consider betting novelties at either Bodog Live or Bet365 Live.
Hopefully this page provided you with a solid introduction to live betting. We encourage you to navigate additional pages of our website to pick up more strategically information and recommendations. Whether you study more or just wager it up, we at Live Betting, wish you the best of luck! Thanks for taking the time to visit our website.