Live Betting: A Complete Guide

Live betting is an increasingly popular way of wagering on sporting events because it offers bettors a chance at instant gratification.

Live betting, or in-play betting as it’s often referred to, is just like it sounds: wagers are placed after an event has started, though the drawback is that odds are also updated in real time, reflecting the score and direction an event is heading.

This method of wagering has opened up new markets and allows bettors to respond to the flow of an event.

What Is Live Betting?

Live betting burst onto the scene at the height of the COVID pandemic when sports wagering shifted onto the internet, and advances in technology have made it easier to create larger betting markets and place wagers in real-time.

Pre-game wagering was limited mainly to the outcome, point spread, and total. Live betting has paved the way for more markets, increasing betting options.

As the name states, live betting takes place after a game has started, giving bettors a chance to adjust their strategy to the flow of the contest. Momentum changes, like a touchdown or turnover in football, or a scoring run in basketball, can change the direction.

In-game key player injuries are also not accounted for in pre-game bets but can have an impact on the outcome; however, sportsbooks quickly respond by shifting the odds to reflect what’s happening.

How Live Betting Works

Sports wagering in general (and live betting in particular) can seem overwhelming at first, yet, a basic understanding of the concepts can alleviate any bettor’s anxiety.

Live betting works a lot like pre-game betting with a selection of different wagers and odds, including traditional options like the moneyline, spread, and total.

Pre-game odds are locked in once a game starts, whereas in-game odds fluctuate as the game progresses.

Odds Movement in Live Betting

Unlike pre-event betting, where odds can shift before an event starts, live betting odds fluctuate throughout the length of the event until the market is closed.

There are several factors that come into play, forcing odds to shift with scoring one of the biggest.

A touchdown in football impacts the odds more than a field goal, but the line will shift accordingly. Turnovers can also play a role in odds changing.

There always seem to be scoring runs in basketball that can contribute to odds shifting on the moneyline. If a team scores the basketball at a high percentage, that will also affect the in-game spread and total.

Live Betting Example: NFL Game

Using an NFL game as an example, you can see how live betting odds are affected.

If the Chiefs are favored prior to the start of the game, but the Ravens take a big lead after the opening kickoff, odds may shift toward the Ravens becoming the favorite.

One score will also have an impact, shortening the Chiefs' odds. In this case, the spread will also shrink.

Depending on how rapidly teams score, the total will fluctuate. If the over/under for a game is 42.5 and the opening kickoff is returned for a touchdown, that number will increase.

Pros of Live Betting

The major advantage of live betting is the ability to place wagers during a game, allowing bettors to adjust their strategy as the game unfolds.

One factor unaccounted for in pre-game wagering is injuries, which can affect the outcome. Yet, real-time odds reflect the flow of the contest and are updated quickly.

Another benefit of live betting is that a larger betting menu is usually available.

Bettors can also take advantage of favorable odds since the numbers fluctuate during a game. If a favored team falls behind, the odds go up. Bettors believing the favorite will come back can use the updated odds for a potentially bigger payout.

Cons of Live Betting

One of the biggest drawbacks of live betting is how quickly the odds change. With momentum shifts, points scored, or an injury, there are often just seconds to react before odds change.

The hurried pace can sometimes lead to a hasty decision. Bettors can easily lose focus when live betting on multiple games at once, therefore, it’s a good idea to stay with one game.

Also, discipline is key since it’s easy to make a larger number of smaller live-betting wagers, and losses can mount.

Key Strategies for Live Betting

Like any form of wagering, creating a strategy when entering the live betting market increases the chances of success. But what are the most important strategies?

Watch the game you’re betting on live to pick up on the performance of the teams and individual players. That way, bettors can adjust and make informed wagers.

Also, look for the expected value in odds. The numbers shift rapidly, and knowledge can pinpoint favorable odds before they change.

Using Momentum to Your Advantage

One important element to keep an eye on during a live betting session is momentum and how to use it for a favorable outcome.

A prime example is in basketball when a team goes on a scoring run to either increase an advantage or shorten a deficit.

When live betting on football, scoring a touchdown can swing momentum, as can a turnover or even a special-teams play that flips the field.

It’s hard to imagine pro athletes getting tired, but we see NBA teams play back-to-back games and even three games in four nights. Fatigue can play a factor, especially late in games, which can lead to a profitable wager.

Managing Your Bankroll in Live Betting

An easy way to manage your bankroll is by never betting more than you can afford to lose.

Doing that can be more difficult when live betting, though, since there are usually more markets to choose from with a wide assortment of props.

The key is to remain disciplined in your approach and stick to your betting strategy. The fast-paced live betting environment can lead to impulse buying, which could easily drain a bettor’s bankroll.

Live Betting in Different Sports

If there’s a competition between two sides with a final result, chances are you can bet on it. Fortunately, there is plenty of action to keep both sportsbooks and bettors occupied with a high number of games and events.

As online betting has evolved, so has live betting. Most sportsbooks offer live betting for just about every major sports league, team, or sporting event.

NFL & College Football Live Betting

Football is the most widely wagered sport, so it makes sense that live betting plays a huge role.

Since it has more breaks in play than arena contests, in-game betting on football is easier. And there are a number of markets open, flooding bettors with opportunities.

The biggest reaction to moneyline odds comes when a team scores.

A touchdown can shift odds significantly and also impact both the spread and total. If the favored team falls behind, their odds shorten, making them a value pick if you believe a comeback win is an outcome.

Live betting markets not only include traditional bets but also the outcome of the next drive, who scores the next touchdown, and the next scoring play.

NBA Live Betting

With scoring happening at a rapid pace, live moneyline, spread, and totals odds are shifting all the time.

This requires bettors to stay more focused on the action on the court, picking up on when a team goes on a scoring run. Momentum shifts can have a big impact on the point spread, and how efficiently a team is offensively can have an effect on the total.

The over/under on a player’s point total is also impacted by each basket, and astute bettors can recognize when a player is on or off.

There’s also a wide range of in-game betting options available.

MLB Live Betting

More breaks in play make live betting MLB an option without fear of having a wager declined. Traditional bets are available, but baseball offers the unique option of betting on the outcome of the next pitch.

Odds have gotten so complex that they’re broken down into innings or even half innings.

Baseball is the most individual team sport, which is why there is a large player prop menu.

But team outcomes also get plenty of action. Not only can you bet on the winner, but also the margin of victory, hit total, and inning winner.

Strikeouts are both an offensive and defensive betting option for teams and individuals.