Live Betting in Sports
Understanding Live Betting on Sports (With Examples)
As technology has advanced in recent times, live betting has become exceedingly popular with sports fans. It enables you to bet on events that occur during a fixture, bringing a broad spectrum of markets to the fore.
You can place live bets on the NFL, NHL, MLB, NBA, and MLS, as well as a whole host of other leagues and sports. So, to help you get into live betting this season, we tell you everything you need to know about this type of sports betting in this article.
What is Live Betting on Sports?
Live betting is where you can place a wager on a sports fixture that has already started. It’s often called “in-play” betting for this reason, and it’s a great way to keep things interesting throughout a matchup.
Live betting is popular in all sports, from the NHL to the NBA, and there are so many different markets available. It’s particularly attractive to bettors who have missed the cut-off for pre-game wagers, as well as those who want to see how the action begins before placing a bet.
You can place point spreads, moneylines, totals, and a huge selection of proposition bets in play, and the odds given will totally depend on how the action is unfolding. Let’s take a closer look at what live betting markets look like for your favorite sports.
Live Betting Explained
It’s fair to say that football fans love in-play betting, and the NFL is the ideal league to begin with if you’re hoping to exploit live betting markets. You can sit back on a Sunday and enjoy a cold one while the action is unfolding in front of you.
The key difference between an in-play bet and one placed ahead of time is that the action on the field will influence the odds set by the sportsbook. For instance, if the Bengals score an early TD against the Browns to go 7-0, their odds of winning would also increase. Let’s look at a pre-game and live moneyline example:
Pre-game: Cincinnati Bengals (-130) vs. Cleveland Browns (+140)
Before the game, the Bengals were favorites, but the line is pretty tight. Now, let’s say they score an early TD - their in-play moneyline odds might look something like this after taking a 7-0 lead:
Live: Cincinnati Bengals 7 (-300) vs. 0 Cleveland Browns (+290)
As you can see, with the early TD and field goal, the Bengals are much stronger favorites than they were before a ball was kicked.
But the moneyline is just one live betting market you can capitalize on. You can also wager on the point spread, which sees the favorites start with a handicap and the underdogs with a headstart.
You can also bet on the totals line, which is an indication of how many points you think will be scored by both teams in the entire game. But there’s no doubt that the most exciting way to place an in-play wager is in the form of a prop bet, as we explain below.
Live Prop Betting
Prop bets are super popular with sports fans, as they allow you to place a wager on an event that is not directly tied to the match’s outcome.
So, for instance, if you’re watching a Columbus Crew soccer game, you could bet on Cucho Hernandez to be the first goalscorer. Even if the Crew loses 4-1, if Cucho scores first, you would win your bet.
The beauty of live prop betting is that you can wait for the action to begin before gambling. This allows you to get a feel for how things are going before committing to a wager, and it’s a great way to manage some of the risks associated with betting.
You can place live prop bets on practically every sport, giving you a huge selection of markets to choose from. Let’s take a look at some specific examples from the most popular US sports to show you how it works.
NFL live prop bet examples:
- Team to score the first TD?
- First team to 20 points?
- Number of rushing yards for Joe Mixon in the second quarter?
NBA live prop bet examples:
- Number of three-pointers in the entire game?
- Number of rebounds for Joe Allen in the first?
- Next foul committed on the court?
MLB live prop bet examples:
- How many runs in the first inning?
- Jose Ramirez to score a home run?
- First team to reach three runs in the game?
- Total combined number of hits, runs, and errors for both teams?
NHL live prop bet examples:
- Yegor Chinakhov first goalscorer?
- Total number of penalties in the second half?
- Over/under shots on goal in the entire game for the Blue Jackets? (25.5)
MLS live prop bet examples:
- Both teams to score in the second half?
- Number of yellow cards for Columbus Crew in the entire game?
- Cucho Hernandez first goalscorer?
As you can see, live betting can get super detailed, and you’re certainly not restricted to common markets like point spreads, moneylines, and totals betting. You can really dig into the fixture and use your knowledge of the game to win yourself some money!
Understanding Live Betting Odds
If you’re using a US-based sports book, the live odds presented will be in the American format. For instance:
Justin Danforth anytime goalscorer for the Blue Jackets (+300)
In this live prop bet, the sportsbook is offering odds of +300 that Justin Danforth will score at anytime on the ice. In other words, a $100 bet would return $300 worth of profit if Danforth scores at anytime.
When negative odds are given, it means that the sportsbook favors the outcome. The number given shows how much you would need to bet in order to make a profit of $100.
One thing you need to be mindful of with live betting is that the odds change quickly. If you’re not quick to place your bets, you risk missing out on a great value market, so make sure you have sufficient balance in your account if you’re taking up live betting this season.
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