How many times have you been watching your team performing at the top of their game, and said to yourself “I wish I had placed a bet on them winning”? On the other hand, maybe your team is not on form and on the path to a loss. Now, with Live betting, you are no longer limited to making your bets before the game starts.
Live Betting, sometimes referred to as in-running, in-progress or in-play betting, is the ability to place a bet on a sporting event while it is taking place. In the past, betting on a cricket game or event had to be done before it started, and you were locked in till the end of the event. Now, Live Betting lets you place bets on the fly, as the event unfolds.
For example, your team isn’t on form today? No problem; switch your bet. Maybe the team you were betting against were the underdogs, but suddenly they find their stride and swing the game in their favour; again, no problem, simply place your bets how you choose. Live Betting is fast-paced, and decisions have to be made quickly, which adds to the thrill and excitement. Do be aware to game responsibly.
Before a match or event begins, an online sportsbook or bookmaker will set the odds, however, unlike the past where the odds were locked in and bets had to be placed beforehand, now the odds change during gameplay based on what is happening live. This process of changing odds varies from sportsbook to sportsbook but is typically calculated by a computer algorithm based on data from past events and the current outlook. The odds and options for an event can change repeatedly and even up until the last seconds of a game.
To place a live bet online you will first need an account with funds available
A team of people at the bookmaker/sportsbook, typically referred to as Traders, Odds Compilers or Risk Analysts, produce prices for an event based on a range of variables and this is called the book. Built into the book is the bookmarkers commission so that they will make their money too.
The odds they provide are designed to be attractive to bettors in a manner that, ideally, an equal number of bets will be placed in both directions, while minimizing the risk to the bookmaker. You can learn more about how odds work and how they affect betting by reading the guides below.
The quick answer is YES; live betting can be profitable when done carefully. The biggest enemy of any gambler is greed; whether trying to win even more or chasing losses, greed can wreak havoc. Live betting should be performed with the same discipline of trading stocks or cryptocurrencies; you need to understand the fundamentals and influencing factors, know when to place the wager and most crucial, to leave emotion out of the equation.
Firstly, let’s understand the basic concept of hedging. Hedging is, essentially, a way of protecting yourself or at a minimum, reducing potential losses by placing a bet in the opposite direction to a previous bet. In very simple terms, if your original bet is for Team A to win, you then place a bet for Team A to lose. Naturally, you would expect a zero-sum game, but the way the odds are calculated, you will still lose some money, but at least not as much as if you hadn’t placed the hedge bet.
It’s important not to confuse this with arbitrage which is similar but that is a different discussion. The best way to view hedging is it’s like insurance to soften the blow. In summary, yes you can hedge live betting, however as described above, hedging is not typically used as a profit-generating strategy and is rather a loss reducing method.
Every sport that offers in-play betting has its own unique features and types of bets. When you visit an online sportsbook, you will see there are hundreds of possible bets for each sport and game; from the most basic like who will win/lose to how many goals/points/runs will be scored, which player will score the goals and how many, plus more. Some of the most popular live betting sports in India include:
Live betting is the way of the future, so grab your phone, download a live betting app now and get the action started!
Want to bet from Bangladesh? Try Bet365 Bangladesh!