Live bets refer to wagers placed during a match. This option is now offered by all sportsbooks and has quickly become popular among bettors. Betting during the match allows you to react to its course, giving you a better understanding of how the match is unfolding compared to before it starts. However, live betting also comes with some disadvantages. Let’s discuss some general information about live betting.
What can you bet on live?
The options depend on the offer of the bookmaker you are betting with. The live offer is usually slightly smaller than the prematch one, but we can say that most matches that appear in the prematch offer are also available live. Lower leagues are no exception. The bigger difference is in the opportunities listed, but even so, the selection of live opportunities is more than sufficient. In the live offer, you can find some opportunities that cannot be in the prematch offer. A good example is tennis matches, where during the match you can bet on, for example, which player will win the next fifteen. A similar offer during football or hockey matches is the opportunity to bet on which team will score the next goal.
Where to find live odds?
For live opportunities, online bookmakers often have a special “LIVE” section, where you will find all the currently listed matches. You will usually find a wider live offer with recreational bookmakers (most of them). Professional bookmakers (e.g., Pinnacle) have a limited live offer. There may be several reasons, for example, they may feel disadvantaged against bettors.
Be quick but cautious
In live betting, speed is crucial. Odds change from second to second, and you need to be careful whether the odds have changed (dropped) or the bookmakers have locked them completely while you are placing your bet. They must react to the current events on the field and reflect this in the odds. Given the speed at which professional sports matches are played, they need to think ahead. Remember, their goal is the same as yours – they want to make money. Be prepared that placing a live bet usually takes longer than for prematch opportunities (sometimes even a few seconds). This is because bookmakers have to react to events on the field, and if a situation leading to a score change is imminent, they must reflect this in the odds. It is a kind of “insurance” they use to protect themselves.
Advantages and disadvantages of live betting
Advantages
- You can watch the match live and react to the events on the field
- You can find better odds
- Higher error rate in the listed odds
Disadvantages
- Higher margins, which bookmakers use to tilt the advantage in their favor
- Longer bet approval times
- Time-consuming
Don’t forget the value
One rule applies to both prematch and live betting. To be profitable, you must bet on odds with positive expected value. It is nice that you are watching the match you are betting on live and have a perfect understanding of the events on the field, but if the odds lack value, they are disadvantageous, even if your bet is eventually successful. So avoid tips on the winner of a football match at odds of 1.01, even if your team is leading by a goal in the 90th minute, and similar “specialties”. You never know what will happen on the field.