A live bet is a type of bet that allows a punter to make a wager after the start of a betting event. A live bet is also called an in-play bet because punters can make wagers on live betting markets based on how a game is in progress. Live bets became popular in the last three decades with the advent of online betting. Live bets give punters more betting options and bookies more ways to incentivize bettors. A punter often faces the dilemma of making a wager on two evenly matched teams. In addition, a punter may not know in which direction to make a wager. A live bet gives the punter an option to create a chance after watching a few minutes, a half, or most of the match before making a wager on the game’s outcome.
Features Of Live Betting
Some of the features of live betting options include efficient risk management, the possibility of low odds, access to different live sports betting markets and in-play betting markets.
1. Enables Risk Management
Punters can make wagers after the start of a game, enabling punters to manage their risk based on the current flow of the match. For example, if one team is dominating the game, the punter can make a wager on that team to score or win because the likelihood of the team scoring or winning is higher based on performance. However, a punter can still lose a live bet even after making a protected wager because a game can flow in any direction before the final whistle is blown.
2. Lower Odds
Making a live bet may result in lower odds and a lower payout compared to making a wager before the start of the game. However, the difference in odds a punter loses tends to be marginal for a live bet versus a standard chance. The reason for lower odds is the probability of a team winning, losing, or ending in a draw swing with each minute.
3. Sports Betting Markets
Football is one of the biggest sports live betting markets. However, live cricket betting and live Esports betting have grown and captured a significant portion of the sports betting market share. Punters can also choose to make live wagers in lesser-known betting markets and profit from mispriced odds and value betting situations. In addition, punters gain access to more betting options and features with developed live sports betting markets versus growing betting markets.
4. In-play Markets
In-play bettors have access to more betting markets that keep changing versus bettors making wagers on only the game’s outcome. Some of the in-play needs punters have access to include first to score, both to score, score at half-time, score after 30 minutes, betting lines, goals achieved, cards, etc. The odds for in-play markets can vary from provider to provider, depending on each provider’s risk strategy and hedge.
Types Of Live Betting
Some types of live betting include casino live betting, live sports betting, live lottery betting, and live esports betting.
1. Casino
Punters can make wagers in live casino games online such as poker, blackjack, baccarat, and other casino games. Apart from traditional casino games online, punters can make wagers on online slot games while playing the live version of the game.
2. Sports Betting
Punters can make live wagers on different sporting events from across the globe. Punters can place bets on sports such as football, cricket, basketball, MMA, motorsports, golf, hockey, baseball, rugby, ice hockey, throw ball, volleyball, tennis, table tennis, and more. In addition, punters can make wagers on famous tournaments such as the World Cup or the Olympics or lesser-known tournaments such as the K-League.
3. The Lottery
Lottery betting is a niche betting segment with a popular subscriber base. Lottery betting is based on luck, and the live lottery betting option enables punters to take part in the lottery number draw in real-time.
4. Esports
Esports gaming and access to live betting markets and tournaments is an essential component for an Esports bettor. While Esports betting is one of the fastest-growing markets, punters don’t have access to multiple betting markets compared to other sports such as football or rugby. Punters can make wagers on live tournament games on teams such as Spicy Fish or Oath between rounds or during any point in the game.
