Many of us bet on sports to make the games more exciting and engaging to watch. Live betting takes this to another level, as you have the opportunity to “play along” with the teams or players.
Odds change on a minute-to-minute basis. You can double-down or hedge your original bets, and you can unwisely try to chase your losses out of frustration quicker than ever. With the free-for-all nature of live betting on sports events, things can get out of hand in a hurry. This guide will help you make sense of it all and provide a few tips along the way.
1 – Know the Types of Bets
Traditional Bets
This type of live bet isn’t really any different than the bets you place before the game, except for that the odds, spreads, and lines will change in real-time. This can make for some high-value bets if you’re able to pick up on a particular trend in a game.
For example, you might see a team starting to make a comeback and get a great value on the moneyline. The trick to taking advantage of these value plays is to follow the game very closely as there can be major swings after just a single play.
Some bettors think that it’s too conflicting to wager against the team you originally bet on to win the game. But others argue that live betting gives you an opportunity to cover yourself if your first bet is looking bleak.
Prop Bets
The prop bets offered when live betting are typically similar to those offered before the game, but with the odds radically adjusted. Again, these bets can offer tremendous value if you make your wager at the right time.
For example, there may be a prop bet available on whether or not a running back would finish with more than 100 yards rushing. After a slow first quarter, the line on whether he’ll get to that 100 yards might switch from +150 to +300. If you know that the running back (or rushing offense in general) typically has more success as the game progresses, it might be in your best interest to take the bet at +300.
The In-Game Parlay
Parlays are already difficult to win regardless of when you place the bet. However, the initial bet versus the potential payoff is often too much for bettors to ignore.
In-game parlays function the same as any other, but with live odds, the payouts can be even greater. Also, there’s a benefit because you’re able to observe trends in action. You might be able to spot an opportunity to cash in that you wouldn’t be able to find if you bet before the game started.
2 – Know When to Ride the Momentum
One factor that sportsbooks can’t truly quantify is the momentum that is experienced during competition. This is why timing is so important if you’re looking to take advantage of the favorable lines when live betting.
A team that is on the comeback might still be a heavy underdog. However, if you can place your bet before the line catches up, you can get a huge return.
When live betting on games, it’s crucial to be locked into the action in order to get a feel for the flow of the game. Unlike betting before a game, extensive research, while still valuable, isn’t worth nearly as much as following the game closely. This will help you get that bet in on a comeback at a period when the value is high.
3 – Consider the Public
If you’re a well-informed gambler, you know that the public’s money is what really controls the lines and spreads. This is magnified greatly during live betting because the general betting public tends to be a bit impulsive.
Because the books are pushing out odds on a minute-to-minute basis, there isn’t much time to run calculations that help set good lines. The public’s money is the main determinant of the odds.
As stated, the public generally bets impulsively. If one team goes on a short run or shows a sign of life, people can jump on the play and move the line. This will create more value by going against the public.
You might be tempted to join along. It makes sense, and it’s hard to bet against a team that’s starting to play well. However, the same “when in doubt, bet against the public” piece of advice still holds true.
Big, national TV games mean that more people are betting and shifting the lines. Remember to consider the audience when evaluating how much influence public money has on your betting decisions.
4 – All About Timing
This tip might seem contradictory to the earlier tip regarding momentum, but the trick is to know which way to use momentum. Above all, it’s important to be aware of all the different philosophies and make an educated decision for yourself. Each game is different, but the factors you take into account should remain consistent each time you bet.
The key to finding value when live betting is to make your wagers at the perfect time. Due to the public’s tendency to have a short-term mindset, you can find value if you go the other way at the right moment.
For Example:
If a basketball team who is losing big goes on an 8-0 run that results in closing the gap to six, the public might bet heavily on the team making a comeback. This might seem like it is logically following the “go with the momentum” concept. Unfortunately, it also creates a low value for the underdog because so much public money will swing their way.
Live betting is one of the rare times where you can bet on a big (pre-game) favorite and find some value. For example, a good team might be losing against an inferior opponent early in the contest. Thus, much of the money in the live-betting arena can swing the odds so that the original favorite is the value play.
If the situation presents itself and you time it right, you’ll find that you can wager on good teams to win at a moneyline normally reserved for underdogs.
5 – The Over/Under Angle
Aside from the spread and the moneyline, the over/under bet is one of the most commonly placed bets on any team game. Once the game begins, fans and bettors feel as if they have a better feel for how much the final total will be even after watching only a couple of minutes. As I laid out earlier, the public’s money is going to shift the lines. Use it to your advantage. Get a value you wouldn’t be able to find before the game.
Again, timing is crucial in making the live bet over/under play. Try to wait until a scoring flurry has raised the original over/under total to a much higher number. Then, put money down on the under at a better price than you would have found before the game.
6 – Keep Track of Your Bankroll
Live betting is exciting and can be a great way to get uncommon value for your bets. With that being said, if you don’t keep a close eye on your bankroll, you can be in trouble before the fourth quarter rolls around.
As with any bet you make, keep track of what’s coming in and what’s going out. Double points if you also keep track of what bets you’re making. You might be surprised at which bets are winning you money and which are draining your bankroll.
Conclusion
Aside from winning money, most of us bet on sports because it makes us feel like we’re participating in our own little competition. For this reason, live betting is a fast-paced way to play along that doesn’t require you to wait until the game’s end to cash in.
Although your betting strategies may differ slightly from bets you place before the game, remember the basics: keep track of your bankroll, bet where there is value, and be wary of betting with the public.
Michael Stevens
Michael Stevens has been researching and writing topics involving the gambling industry for well over a decade now and is considered an expert on all things casino and sports betting. Michael has been writing for GamblingSites.org since early 2016. …
