Unlike any form of betting, live betting is as the name states, live. Being able to make bets and hedge existing bets during play is a feature bettors of the past would never have thought to be possible. Whether you are at the event or watching live from anywhere in the world, live betting is a great venture for any keen bettor to explore. Below will be the key features of live betting that makes it so unique compared to traditional bets.
What is Live Betting
Live betting is the ability to place bets on a game, while the game is in play. While this may seem somewhat basic at first glance, the intricate nature behind the scenes is staggering. Live betting sportsbooks usually have a team of professionals who make decisions on the odds, this can generally be easy given days and weeks of lead time. In live betting on the other hand, the decisions must be instant, leading to not only a team of professionals, but decisive and accurate algorithms making odds decisions based on a host of different variables.
While sportsbooks generally operate somewhat different to one another, these complex algorithms have become a mainstay for sportsbooks to update live betting odds to a point of relying on the algorithm to make decisions while having the professionals validate the decisions before being made available on the player platforms. While these odds updates are generally not instantaneous as something in the game changes, sportsbooks make an effort to have the updated odds live as quickly as possible, as player making bets on old odds with new information can often mean a loss for the sportsbook.
History
The first instance of live betting took place in 2002 and while it didn’t take off quickly at the time, in the last 10 years live betting has increased in popularity for most avid bettors. This popularity mainly stems out of convenience. Live betting is easier and more convenient than it has ever been.
Skill Level
To be successful in live betting such as in soccer wagering is a skill that must be mastered over time. While normal bettors may use live betting to hedge bets and double down, they are generally only looking for advancements on the bets they have already placed and on research they have already done. The more skilled bettors among us will be looking for new betting opportunities within the live betting, looking for a way not to become profitable, but to increase profits.
Knowledge
Live betting takes an extreme level of knowledge of the game, being able to pick up even the smallest signs that a player is off of their game will be great tools towards your success.
Not just the research one would normally make when placing a bet, but a full encompassing knowledge of the game and all the players in it. Added to the fact of knowing your selected sportsbooks well and having good practice of finding value in the odds, live betting really is the ultimate form of betting.