What You Need to Know Prior to Placing Live Sports Bets

Don’t Go into Live Sports Betting Unprepared

If you are interested in live sports betting, there is essential information that you must know prior to wagering. Live sports betting is very different from playing a regular betting slip. When you wager on a game prior to its start, once you make your bet the odds don’t change. Plus, there’s no adjusting the bet once the game starts. Regular wagering is based on projections and not on what just happened on the field and what may occur next.

Betting Categories

As an example, one basketball category is labeled “3 Way,” and it pertains to the over/under. In a three-way situation, you’ll be given three choices for the over/under.

The following example is for a basketball game.

In our example, you may wager that the score at the end of the second quarter will be over, under or exactly 43 points. This third choice, which has the score as an exact number, makes it much more difficult for the bettor to make the correct choice.

How Likely is it You’ll Win?

To a degree, the odds will tell you this. However, you need to be aware of a few things when it comes to whether or not odds accurately reflect the likelihood of your winning a specific wager.

Odds makers charge a bit more for you to bet on the favorite and pay less than they should when you wager on the underdog or long shot. In the above example, if exactly 43 points are scored, you make $11 for every dollar you wager. However, this wager is more likely to have real odds of around 13-1 and not 11-1. This is simply important in terms of gauging what your actual chances are of winning.

Also, you should have a good idea of how often something like a tie in the over/under occurs. Or, more so when you’re wagering on something related to performance, how likely a specific play or action may happen.

As an example, when betting on the NFL in deciding if the play will be a complete pass, you should have an idea of how likely it is a pass will be thrown in a specific situation and then how likely it is it will be complete.

Thorough Knowledge of the Teams

In order to be able to make a smart bet that’s related to performance, you need to possess a thorough knowledge of both teams and the players. The less betting you do based on hunches the better. Make sure you know each team and their personnel.

Focus on Stats

Crunch the stats that are going to help you make specific decisions. In NFL football that means a quarterback’s pass completion percentage, how many passes he throws, how often he’s sacked, how many picks he’s thrown, etc. And remember, you need to know statistics related to both sides of the ball.

Taking the NFL, if one team’s offensive line has been giving up a boatload of sacks and their facing a team that has a massive pass rush, this will have a big influence on a quarterback’s success. This situation will probably also put a major dent in the rush attack.

Coaching

Since you’re wagering on game situations, you really need to understand the coaching philosophy, what the game plan may be and how able the coaches are in game situations. Some coaches are excellent when the pressure is on and others simply cannot hold it together.

Ready to Bet

If you attend to the five aspects outlined above, you’ll be ready to make live bets. You’ll need to stay on top of game developments and apply the knowledge you’ve accumulated. The ability to actively track stats will also help you make solid decisions.  Use the league’s site, which will provide you with real time data.