The concept of in-play betting (also called live betting or in-running betting) is very simple. Most online bookmakers nowadays offer this option, where you are given the opportunity to place a bet while a sporting event is unfolding in front of you. Bet365 arguably has the best live in-play product.
The premise is as follows; bookmakers alter odds on participants in any given event as it unfolds according to how increasingly or decreasingly likely it is that a particular outcome will materialise. For example, you might want to bet on the unlikely scenario that a football team will make up a two goal deficit in the last ten minutes to grab a draw. Furthermore, you may want to back a certain striker to score one or both of those goals.
The main thing to remember with live betting is that, since time is elapsing and therefore certain outcomes become increasingly probable, odds shorten or lengthen very quickly. This has two effects; the first is that there becomes very little point on backing foregone conclusions unless you are willing to bet big. The second is that a small wager on a very unlikely outcome could reap considerable rewards.
Most punters who pursue in-play betting with bookmakers will approach it from one of two angles. The more cautious will spread their funds across a range of almost sure-fire outcomes whose odds are very short in order to record incremental gains that could, in theory, start to add up nicely. Others will attempt to get a line on a set of long odds that they think the bookmakers have over-valued; the outcomes may be less likely, but the one-off rewards much larger.
Live betting has become particularly popular on betting exchanges, since websites such as Betfair also give the option of lay bets. This means that if you do not believe that a certain outcome will materialise, you can bet against it happening. This gives the punter a greater number of betting possibilities, as well as providing another way of approaching what could be an otherwise uninteresting sporting event. What’s more, because you are pitting your wits against fellow punters on the exchanges instead of established bookmakers, there’s every chance that you may be able to take advantage of some wishful thinking or over-enthusiastic punts offered by other people.
Live betting is a hugely exciting innovation in online gambling that allows punters to engage with an event as it unfolds, not just when it is over. The key to success is to first establish whether you will look to be cautious or clever. The first means spreading your funds across markets and events or simply betting big on what appear to be sure-fire outcomes. The second means trying to spot where the bookmakers have lengthened the odds on a possibility you think may well materialise. In-play betting requires all the analysis and insight you would use to place a regular bet – just in double-quick time.
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