How does Live Betting Work?

What is Live Betting?

Sometimes referred to as “in-play” betting, live betting is the concept of wagering on sports in real time, rather than placing your bets before the match begins and waiting for the outcome. You get to use unique live betting strategies and enjoy the thrill of betting on your favorite sports as the action unfolds.

You’ll get wagering options on numerous parts of a game as it happens. This includes shorter outcomes that occur during a single quarter or half, or even bet on various aspects of the match, covering minute to minute. All are designed to give immersive betting experiences on a wide range of markets.

The live betting odds work the same way as any other pre-match market. The difference is that they move in real time with the outcomes of the event.

The odds for all bet types move dynamically with the game situation. Traders are constantly pricing the action using special techniques and algorithms. Most of the best live betting sites will adjust the odds within seconds of a major change in the game and make incremental shifts throughout a game, too.

Who Sets the Odds?

Bookmakers have teams of individuals commonly known as traders who set, monitor, and adjust both pre-game lines and live odds that you bet on at any casino.  They use a combination of historical data, statistics, algorithms, and betting trends to determine the most accurate probability possible. Some sportsbooks rely heavily on their consistently successful sharp bettors to help determine the best odds.

Why is this information important for live betting? Statistical data and trends are a good indicator of potential outcomes when setting pre-match odds, but outcomes during an actual sporting event are far more nuanced.

This is why odds can vary so greatly when live betting and why bettors can find significant advantages when the odds fail to consider factors that statistical thinking often does not.

Ultimate Tips for Successful Live Betting

Before we start to reveal a live betting strategy you can use today, we thought we’d set you up for success first. Below are six of our best live betting tips that will make sure you are prepared before the game begins.

Use live streaming – If your sportsbook of choice offers live streaming, it is the perfect companion when betting on the go. You’ll be able to watch the action and bet on the very same screen.

Close all your tabs on your PC – Reduce your PC’s RAM consumption when live betting. Speed is key. Stop any unnecessary apps in the background and close any browser tabs that are not essential and might slow things down.

Use a mobile betting site – Use a dedicated offshore sports betting site that is accessible via your mobile.

Make use of virtual scoreboards – It’s not the perfect live sports betting strategy, but if you can’t watch the game at all, use the bookmaker’s virtual scoreboard at Tonybet online casino. It will often provide more real-time data than following an event on the radio or via an online commentary.

Shop around – This could be considered an advanced live sports betting strategy, too, just because you need to take in a lot of information. Keep a few bookmakers open and chase the best lines possible at any given moment. This is best done on a desktop screen rather than a mobile.

Never chase losses – Just like when pre-match betting, you should never chase losses by live betting. It’s always a better idea to take a break and choose another game to bet on at a later date. All successful bettors have good bankroll management.

Know your sport – Get to know your sport or stick to sports you are knowledgeable about. As quick as live odds can be, they are data-driven and often fail to predict possible game changes such as comebacks. Extensive knowledge can put you at a massive advantage when live betting.