The Fundamental concept of Live Betting

Normal betting providers offer the opportunity for gamblers to place bets at the start of the game. Most players employ the use of statistics and the past game plays to have a clue on what/who they are betting on. If you are a betting provider in this day and age, and you do not offer your players the chance to bet in real-time, do you have their best interest at heart? Live betting, also known as in-game betting is a betting form that allows bettors to add on wagers and increase their stakes while the game is running. As the game progresses, so do the players’ chances of having winning odds. 

This style of betting is now found in most, if not all, betting markets and poses numerous advantages. Live betting is offered mainly online because of the logistics behind its technical nature but this does not change the fact that it allows bettors to fully immerse themselves in fantastic gameplay and letting them enjoy every minute of the game while paying rapt attention to detail. It offers its players the full package of entertainment, flexibility, and most importantly, money-making.

Live betting categories

There are three categories of live betting; Traditional, prop bets, and parlays.

• Traditional Bets

Traditional bets are available at the start of the game, but it does not stop there. As the game goes on, the odds are updated so bettors are kept in the loop about how the game is going. For instance, if a team that was sure to win loses a player some minutes after kickoff, the odds of them winning are drastically reduced. If you were to retain your stance that they would win, your probable winnings would increase because, at the time, they are the underdogs.

• Prop Bets

Prop bets are also available for in-game betting if it is a service they provide. It could either be a fun prop bet or a skill-based prop bet. A skill-based bet is where bettors can bet on which player will score a goal, how many corners a team will take, who will score a penalty, or how many penalties a team will have. These bets are fun and also available for in-game bets online. In-game bets of this manner offer more of an advantage because you can see the progression of the game in real-time. So bettors can see the direction the game is taking.

• Parlays

Parlays, as the name suggests, are ways bettors can accrue winnings from previous transactions and use this as a stake for future betting. Many online casinos and sports betting casinos allow bettors to turn single bets while the games are running into parlays, which provides a surge of adrenaline for the ultimate thrill.

Advantages of Live betting

We cannot speak of live betting and not bring up its truckload of benefits and advantages as opposed to traditional betting systems. While the benefits are similar, they are maximized and amplified in live betting.

Mistakes and human error

One of the many advantages is the likelihood of human error when setting odds. With pre-game bets, sportsbooks and casinos have ample time to establish a set of odds that favour their business. If by some means a mistake is made in setting a line, they stand to lose a lot of money if bettors jump on the mistake. Most casinos spend a lot of time and money hiring professionals, utilizing smart bettors and highly technical computer systems to analyze quantitative data and decipher the best odds on particular games. They lose the luxury of ample time with live betting. This is because they have to update the odds in real-time as the game is in play. This gives less time for second guesses and system checks. The computer used for quantitative analysis which involves more of the statistics and numbers cannot keep up with the more qualitative data because it does take the human aspect into account such as low team morale or team injuries.

Informed Bettors

An advantage that live betting awards bettors are having more informed players. Unlike pre-game bets, in-game betting allows players to watch the game unfold. You can watch how both teams are faring and how either team falters. Bettors are thus able to deduce who is more likely to be victorious in the long run. Another advantage is the excitement that it brings to the bettors. Some might argue that all betting is exciting but take it from us, the thrill that is in-game betting is unmatched. Watching the fantastic gameplay, the tables turning, the odds changing in favour or against the underdogs, and having your stakes possibly increased. If you’re in the market for high-paced action, then live betting is the thing for you. It is important, however, to have prior knowledge about both teams and their strategies. This provides you with a little bit of an advantage because you have an idea of what to expect from the game, although strategies won’t be of much help because of the dynamic nature of live bets. So if you’re a bettor who works better with strategies and planned outcomes, live betting might not be the best for you. Live betting is a game of quick thinking and fast decision-making because the odds change as quickly as the game is being played.

Flexibility

Another reason live betting has become as popular as it is simply the flexibility it affords. Players can make opposing bets when they notice the odds are no longer in their favour such as when a team loses a player to something like a red card mid-game or an injury, thus leaving the seemingly winning team one player down.

Variety of betting options

Speaking of odds and bet placements, live betting allows bettors to place bets on a variety of options that are not ordinarily available on normal pre-game betting platforms. An example of such options is ‘which player will score next’. Watching the game as it unfolds will give bettors insight into who is more likely to take the next shot, unlike pre-game betting. When live betting was first introduced into the betting scene, it was only available for the important events in popular sports but now as it has become more well known, it is available in a wide range of sports and with an even wider variety of options to bet on. Games that have live bets available include football, cricket, horse racing, golf, and many more.

All in all, live betting is an enjoyable entertainment opportunity. This is especially good for bettors who play the game not necessarily for money-making, but also to enjoy the fun that comes with betting which is doubled in the thrilling game of live betting.