Live Sports Betting – How to do it Right

Posted by Harry Kane on Friday, June 14, 2024

Live betting is now incredibly popular in mature sports wagering markets across the globe. In the UK alone, in-play bets account for more than 50% of all sports wagers, while so-called “micro bets” have also become increasingly popular thanks to international brands such as DraftKings and FanDuel.

However, live betting brings a number of challenges, including fluctuating and highly volatile odds. There’s also a large and diverse selection of markets accessible in-play, making responsible gambling hard. So, how can you engage in live betting successfully and make the most of your real-time bankroll.

1. Know Your Sport – Inside and Out

This is your key starting point as a live bettor, especially when you consider the range of in-play lines and markets available online. Make no mistake: you’ll need to leverage every possible competitive advantage to succeed in this respect, so we’d recommend targeting sports in which you have significant knowledge.

This is important for two core reasons. Firstly, it enables you to identify the best value lines and markets, including team or individual player props. The same principle also applies to pre-game or ante post betting, of course, as you use your knowledge to research target markets and make the most informed selections.

For example, if you’ve analysed an EPL game between Manchester United and Fulham, you may have discovered that the Red Devils score more than 60% of their goals during the second 45 minutes. So, they’re statistically more likely to score in the second half of matches, opening up a number of potential in-play scoring markets (including the next goalscorer) that may offer increased value.

Secondly, knowledge of an underlying sport lets you identify value in-play bets. This type of bet describes a scenario where the implied probability of all potential outcomes exceeds 100%, which means that the odds are particularly (and potentially disproportionately) competitive. This type of wager is most common in sport events where only two outcomes are possible, such as tennis.

Overall, knowledge and understanding of a particular sports, teams and players allows you to identify high value markets and make informed picks. Similarly, this enables you to make quick decisions without compromising on the integrity of your choices, which is key given how quickly live betting markets evolve.

2. Watch the Action as it Unfolds

Things can change quickly in sporting matchups, especially fast and high-octane games like football. For example, a goal out of the blue or a red card may change the course of a game in an instant, triggering a sudden fluctuation in the real-time odds and potentially creating value.

The fluctuating nature of live odds may create a limited window of opportunity in which you can leverage value and maximise returns. However, it can be hard to capitalise on this, especially if you’re watching the action live (either through a television broadcast or live stream that’s available on your chosen sportsbook).

Even on a fundamental level, watching the action as it unfolds lets you gauge momentum and the ebb and flow during specific matches. This may unlock a number of betting markets that you may have otherwise ignored, based on your knowledge of the competing teams and analysis that you undertook prior to the contest.

For example, you may have picked Manchester City to defeat Wolves at Molineux in the Premier League. While the statistics show the Citizens dominating possession as expected, you may notice that Wolves are proving highly effective in attacking transition and countering at will. They may also be attempting more shots on goal and a higher volume on target.

In this case, you may place a bet on Wolves to win or the draw. Conversely, you could back both teams to score in the second half or pick the underdogs to score the next goal. Either way, you’re adjusting your betting strategy and selections based on the evidence of your own eyes and how the match is playing out.

3. Make Use of Bonuses and Cash Out Features

When you engage in pre-game or ante post betting online, it’s recommended that you leverage bonuses and promotions (such as free bet offers and guaranteed odds promotions). The same principle applies to live betting, especially as operators look to incentivise in-play punters with strategic and generous offers.

But what are the key bonus types when betting in-play? Well, the cash out feature is perhaps the most impactful, as this enables you to close out bets before their cessation, usually as a way of minimizing losses and recouping as much of your initial stake as possible.

Not all cash out bonuses have been created equal, of course. Some allow for both early and late cash outs, for example, affording you far greater control and flexibility in terms of how you manage your live bets. You can also close our pre-game bets with cash out offers, making it possible to minimise loss across the board.

Other bonuses include enhanced or guaranteed odds promotions. These entities create enhanced or guaranteed odds (across a broad selection of bookmakers) for a limited period of time, while they can apply to both pre-game and live markets. Be sure to compare different licensed sportsbooks to ensure that you identify the best offers, using an independent comparison site where possible.

If you are to leverage cash out offers and similar bonuses, you’ll also need to track both the action and your betting account in real-time. You’ll also have to react quickly to in-game events and developments, before acting decisively and closing out your bet based on instinct and updated implied probability values.