Live Betting has taken North America by storm.
What exactly is it and how can you profit?
What is Live Betting?
Live betting is a popular option among sports bettors; it is simply placing wagers on a game as the game is unfolding in real-time. This option is available for all the major sports markets, but it seems to be most popular amongst NFL bettors.
With the emergence of mobile betting, some sportsbooks estimate that over 50% of their total bets are coming from live betting.
How Does Live Betting Work?
Sportsbooks have developed algorithms that spit out live odds in real-time, as a game is being played. Normally you have a very small window to place your bet as every play can affect the new lines moving forward. If you like a live line that your sportsbook is offering, bet it fast, because that line will soon be off the board.
In addition to live plays, sportsbooks offer new lines and odds during every commercial break, giving you a few minutes to place your wagers. You will notice that live betting lines move more frequently than pre-game betting lines as bettors have limited time to place their bets.
What Live Plays Can I Bet On?
The most popular live plays include money line, totals (over/under) and point spreads. Keep in mind that the juice on live plays is typically more expensive than normal. Instead of the standard -110 per side, it is not uncommon to see -115 or even upwards of -120 per side.
Additionally, other live wagers such as props are also available at some sportsbooks. As an example, most sportsbooks will carry live props such as "which team will score the next touchdown?", "which team will score the next goal?", "will there be a score before the end of the quarter?". In recent years, these offerings have become more expansive.
Live Betting Advantages & Disadvantages
The Live Betting Experience
Live betting can definitely be fun. You are able to make new plays throughout the game which will keep you engaged all game long. This experience isn't all positive though.
Due to the live coverage delay between the event and your television, you often have a very short window to make your bets. As a result, many live plays are not accepted by sportsbooks. By the time you put your play in, something has happened in the game which will result in the sportsbook taking your line off the board. This can be extremely frustrating, especially when you were on the right side of the bet, but you didn't have enough time to place the wager, but note that this isn't uncommon.
If you are interested in more tips and strategies regarding live betting, check out Episode 38 of Circles Off with betstamp co-founder, Johnny, and betstamp co-owner, Rob Pizzola.