What are live odds?
In this context, live odds will also determine the amount someone playing a bet stands to win if, it turns out, they have made the right decision. That is to say picked the winning team, fighter, race-winning horse, or candidate. The odds are pre-set, sometimes years in advance, and can change as the event gets closer and more information comes to light. Typically, all bets are off once the event goes live and it becomes ever more clear who will win the event. This is not the case with Live Odds.
Live Odds Explained
Live Odds are odds that keep on getting updated once the event goes live – hence the name Live Odds. They will typically offer an increasingly lower return on the most likely outcome and an increasingly higher return on the least likely outcome. To use an example, if in a football match Team A was favoured to win (thus having a lower odds and lower return) and it scores, then the Live Odds will be updated to even lower odds and thus an even lower return. Your risk is minimised but your return is minimised as well.
The same process will happen for Team B, which was expected to lose. As it starts to lose, the odds associated with its loss will drop as will the return. If, however, Team B starts to win, then the odds of it losing go higher and so will the return. Similarly for Team A, if it starts to lose, the odds of it winning go up and so does the potential return. What you must keep in mind is that everything ends with the whistle, so you can play wisely to offset your losses or win more.
Advantages of Live Odds
There are many advantages to betting with Live Odds. The most obvious one is that it can offer you the opportunity to offset any impending losses from a bad bet. If you picked the wrong team and suddenly that is becoming ever clearer as the game progresses, you can make a counter bet to offset the damage as much as possible. Play wisely and don’t count your chickens before they hatch. Have a strategy and you stand a good chance of making a tidy sum without suffering any exorbitant losses.
Live Odds can also offer a more intense user experience as new and different bets are added thus providing players with the opportunity to win even more. Bets like next goal scorer or next player to get a red card can really get you involved in the game (probably more than the players themselves!) and thus have the possibility of giving you an altogether different experience than just sitting on the sofa and watching. With such live odds, you’ll have as much skin in the game as you will ever have.
Disadvantages of Live Odds
One of the main disadvantages that needs to be highlighted is that live odds tend to be lower than fixed odds. So, for the same amount of money you are going to potentially win less. This is to be expected. After all, it’s a game of risk and the lower the risk the lower the payoff will be. This is as true in betting as it is in life. Of course, you can also increase your wager to make up for the lower odds, but this can go either way, so play your cards carefully.
Games/races and so forth can be very fast-paced and as such you might not always have time to think and plan before placing a Live Odds bet. You definitely need to be keeping an eye on the event one way or another, whilst also looking at the bigger picture. This can create a bit of pressure, which can be either fun or distressing. Make sure your head is clear and that ultimately you’re doing this to have fun. Then, it can be one of the best bets you have ever placed.
Live Odds Strategies
There are quite a few betting strategies when it comes to Live Odds betting. One of the most popular strategies used is the Last Minute goal. As you can guess, the bet is placed in the last minute of the game, where you can bet that there will be another goal scored. The odds go up as the losing team give a final push. Live betting arbitrage can help you minimise risk by placing a bet before the event, and then one or more opposing bets during the event as we have already mentioned.
Playing with Live Odds
Live Odds can offer an opportunity like nothing else in the world of betting. It’s difficult to find something else that’s as exciting and unpredictable as this. Ultimately, you should be looking at Live Odds betting as a different type of game, which, like anything else, can have its advantages and disadvantages as we’ve discussed. Use your bets wisely, use them strategically, but most important of all use them to have fun! Experience the thrill of betting with Live Odds and no sports match or betting event will ever feel the same again.
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