Take a look at our live betting guide for 2022. We, here at LordOfOdds, walk you through how live betting works and what the main differences are between betting live and betting pre-match. We’ll also delve into the benefits of live betting and which sports you can do it on. We check out available live bet types, show you how it can be done via apps and we answer your top questions, too.
How Does Live Betting Work?
For the newer generation of sports bettors, live betting is a given. Almost since the first major online betting sites came to New Zealand the ability to bet in-play has been there. The basic definition of live betting is being able to wager on a sport as it happens. Betting sites adjust their odds as the status of a game, race or event changes.
For example, should the odds on a Premier League game be 10/11 for the favourite at 0-0 and then they score, those odds could move quickly to 1/2 or something similar as, statistically speaking, that team now has a major chance of grabbing the win.
Betting during a game means you can see how things are playing out before putting money down. It also means, if successful, your bet is settled before the game even ends.
Key Differences Between Live Betting and Pre-Match
Many of the same markets offered before a game or race are still published as they are going on. Some events however are open to markets specific to live betting. The main difference between live and pre-game is that the odds change almost constantly. Sometimes this is done via an algorithm. As tries are scored, corners are taken or jockeys get racing in earnest, the odds move quickly.
The other major difference is the occasional uniqueness of live betting markets. When a pattern is set in a game or points have already been scored, betting sites can offer odds on the ‘next’ thing to happen, such as who will score or who is next to be booked for example in a Premier League game.
The Benefits of Live Betting
Any specific part of sports betting comes with advantages or disadvantages depending on what you’re looking for. Live betting is unique however in offering the following edges:
There is often more value in live markets as the lines change. In football for example, a team may be heavy favourites at 1/3 to win a game. Should they concede early, they may be pushed right out to 4/5. You may still be in full belief that you’ll win as they have plenty of time, meaning you now have a much bigger price for your bet.
In horse racing, a runner may be 3/1 to win the race but start slowly from the gates. It may go right out to, say, 7/1, but still have the same chance in theory of the win.
These days, online sports betting sites have arguably the best, most up to date in play stats. You can check dangerous attacks, shots, possession etc on events before you place a bet.
A brilliant modern innovation. Many top betting sites offer live streaming to compliment live wagering. There is often high-quality streaming which can include commentary. Live streaming allows punters to bet and watch in one place.
The most popular live streaming channels are horse racing, football and tennis. Watching via a live stream can help you make betting decisions in a way plain stats cannot. Check out reviews to make sure your chosen sports betting sites offer live streaming. T&Cs apply in most cases, such as having a funded account or placing a bet in racing.
In-play betting usually comes with a cash out option too. Simply place bets after events start and, if they’re doing well and a positive cash-out value is on offer, take the guaranteed win and get your money while still live streaming before it ends.
Some sports sites offer bonuses specific to live betting. For example, place bets on events before they begin and then you can get a bonus free bet to use while it is in play.
Sports to Bet on Live
Just about any popular sport is available to bet on live these days. Many of them come with streaming options too. Some sports are more popular than others, however. We must also bear in mind that some lend themselves well to live betting.
In all cases, the lines can move quickly as events take a turn. To get the best value for your live sports betting, you’ll need to be ready to hit that button fast! Here are the most popular live sports betting options online:
Now the no.1 most bet on sport in the world. Tournaments such as the Champions League, Premier League and the World Cup feature huge games, all with a live betting offer. Top sites also offer live streaming to complement the changeable betting odds.
Whether it’s the New Zealand national team in tests, the Ashes or the World Cup, cricket is great to bet on live. As well as the basic win, there are often many spot-betting odds on offer. No balls, runs in an over, sixes and much more can be wagered on and backed up by a live stream in many cases.
Both rugby union and rugby league are popular with bookmaking sites. Lots of live betting odds are on offer in rugby games. The side bets here are similar to those in the AFL too.
🏇 Horse Racing
Despite the speed of horse racing, live betting remains very popular. Most top sites offer streaming on racing every single day. In horse racing, betting odds change very quickly once the gates are open.
Major NBA games are some of the highest-profile live betting events on the planet. Once more, the betting lines change quickly in what is a fast-paced game. Outside of the States, many sports betting brands offer quality live streaming of the NBA.
Blink and you miss it. Despite the nature of UFC/MMA, you can find various live betting odds.
Available Live Bet Types
While watching the above sports via a live stream, you can choose from various in-play bets. The number of lines on offer is huge but differs greatly depending on your sport of choice. Good examples are:
- Football – next goal, total goals, team to win, next corner, total corners, next booking and much more.
- Horse Racing – winner, to place.
- Rugby – next try, total points, winning margin etc.
The full list of live bet types is virtually endless. Check the list offered by your bookmaker on your chosen sport or game.
Live Betting Via Apps
Live betting is not only available via desktop and mobile sites, but via dedicated apps too. The top betting sites tend to have specific sports betting apps which are free to download. Generally, apps will be available for both iOS and Android users.
Sports betting apps tend to have all the same markets available as the main site. The main advantage of betting with an app is that it is available to you with one tap of the screen and often with biometric login. Welcome offers and bonuses are available via app and you can join there too. T&Cs apply as always. Unique T&Cs apply to some offers in fact which are for app customers only, another advantage.
Betting apps are of such high quality that live streaming is often included. Any bookmaker that offers streaming on its main site will also offer it on the app. We’ve often found that the same level of customer service and security is available via betting apps as with desktop and mobile sites. The same banking options are available too, including Visa, Mastercard, PayPal etc.
Some apps are prone to crashes at busy times, so keep an eye on reviews before you download. Our advice is to go ahead and use free apps, but have your chosen bookmaker ready to use on the mobile or desktop site in a pinch if needed as you don’t want to miss a beat when you’re betting live.
Sports betting may have led the way in live betting. This is especially true of ‘real world’ experiences such as streaming, as we are watching a real event take place. But this has also spilled over into the online casino niche. These days, major brands offer live casino experiences.
Live casinos use real dealers, the games are beamed to players via a quality live stream. Those suspicious of online casino game results, despite the use of ‘random number generators’, are keener to play live casinos as much like in bricks and mortar establishments, you are watching the game play out in front of you.
You place bets in the same way as normal online casinos. You drag chips on the screen and your account is updated accordingly. Also, there is the wheel or table which is very real, in a studio, with a real-life croupier taking charge.
Players can chat to the dealer or each other, meaning the gap has been bridged somewhat between land-based and online casinos. Live casino games available with major brands include:
Some live casinos are available via apps too.
Live betting, especially within racing and football, has changed the way we wager on sports forever. Live odds are more changeable and can offer some great value. We have the chance to view stats via our bookmaker as we bet, while live streaming takes that a stage further and allows us to really see what’s happening before we put our money down.
The cash-out system is terrific within live betting too. Watch the game, get a feel for the action, place a bet and then if it is doing well, cash out before it ends. While waiting to see how things shape up in a contest before betting can help us make a more informed wager, it can occasionally work against us. Should a team score very early for example, it can completely ruin the odds.
In most cases, however, live betting gives us a less stagnant market. It can offer great value as long as we know when to press the button. One last thing to mention is that live betting offers a unique way of hedging bets. Without the need for an exchange, some live bets offer a chance to back both teams in a match for potential profit.
We can bet pre-game on one side, then after seeing how the event is going, use in-play bets to perhaps back the opposition too.
Your top questions answered about live sports betting.
Live betting, also known as in-play betting, refers to bets made after an event has begun. These bets can be placed while a match, race or other event is running in play.
Yes, just like other online sports betting. The top betting sites offer live, in-play betting on many sports such as racing and football, often with a live stream included.
Once a racing or game has started, odds will continue to be offered though they change depending on the circumstances of the event as teams play or runners run. Simply click on the odds and place bets online as you would do normally.
Yes, whenever an event is going on, even when it has temporarily stopped or it is half-time, it is classed as being live. You can place lines live throughout an event as long as the betting sites offer odds.