What is live betting in sports? Ultimate guide

Live betting, also known as in-play betting, is an excellent way to get in on the fun after sporting events have started. This contrasts standard betting, which involves placing your wagers before sporting events. With live betting, you are wagering on ever-changing lines and odds, which are affected by events in-game.

Not only does live sports betting enable you to obtain more action on games you're enjoying, but it can also be a way to find beneficial betting opportunities for sharp bettors. You can find live betting options for major sports at regulated online and retail sportsbooks in the US. Let's get into the world of in-game betting and exactly how it works in more detail.

Live Betting Explained

Live betting is aptly-named, as it entails placing wagers on sporting events in real-time as they occur. This enables a more interactive opportunity for sports bettors. The excitement of wagering on dynamically changing lines and odds during events adds to the intrigue of betting on sports.

You will find live/in-game betting options offered at your regulated online sportsbook of choice. Odds will be changing constantly as events occur in games/events. Sometimes, you will see freezes on in-game bets while sportsbooks regenerate their lines and odds to reflect situations occurring in the sporting event.

What Are Live Betting Odds?

Live betting odds are ever-changing based on what is happening in the sporting event. You will find the same types of wagers and odds that you will on pre-game bets. The difference is that they are shifted throughout the sporting event based on the in-game occurrences. 

While many different types of live bets are offered, including props, three prevalent varieties exist. These are also the most common for pre-game betting, and it is good to be familiar with them. Let's take a look at these standard live betting options.

Live Moneyline Odds

Betting on the moneyline is betting on which team will win the game outright. Moneyline odds are set in real time based on the likelihood of a team winning for in-game betting. They will shift in the favor of teams as they gain a lead and vice versa.

Live Point Spread Odds

You will also see point spread odds for live sporting events. To use an NBA example, say the Los Angeles Lakers are -5 favorites. They are playing the underdog Memphis Grizzlies at +5. 

You need the Lakers to win by six or more to win your LA bet. Memphis can lose by as much as four, and you win. If LA wins by five, bettors on both sides get their money back, and there is no winner or loser.

Live Totals Odds

Betting on totals (over/under) is another frequent live betting option. Here you are wagering on the total points that both teams will score in the game combined. 

Say an NBA total is 220, you need 221 or more to score on the over, whereas the under wins if 219 or fewer score. If 220 points are scored, bettors of the over and under both receive their money back.

Live Sports Betting Mistakes To Avoid

There are many foibles in wagering on sporting events before their start, and most apply to live betting as well. Still, there are some specific mistakes to avoid all the more in the in-game wagering arena. Let's analyze a few. 

Live Betting for the Sake of Having Action

Of course, most casual bettors are mostly wagering on sports for fun. Of course, we'd all like to make a profit, but it is a recreational hobby ultimately for most. Still, if you want to give yourself a better chance at success, keeping your wagers to those you deem to have reasonable expected value (EV) is best.

Betting for the sake of the action and not the potential profit can be all the more common in live betting. You may often have a pre-game wager that is failing on a sporting event you are following or watching. This can lead to making impulsive in-game bets to enjoy the rest of the game with money at stake.

On top of it, this issue can tie into another common sports betting mistake, chasing losses. Since you've deemed your initial wager a loser, you may be urged to try to recoup with a live bet impulsively. This can compound even further if the live bet is failing, leading to further poor decisions.

Not Paying Enough Attention to In-Game Events

Since live betting involves constantly shifting lines and odds based on what occurs within games, it is crucial to track game events closely. The goal of all betting is to find inefficient odds that offer value. Since they constantly shift based on events, you need to make sure you jump on good situations at the right moments.

It is also crucial to be sure that you recognize bets that may have become worse based on the latest occurrences in a game. Keeping a close eye on odds while also following the game for the latest events is the way to pounce on the best opportunities and avoid bad bets. Live betting requires thinking quickly and acting accordingly when the moment is right.

Betting With the Heart, Not the Head

Of course, this one applies to all betting, not just live, but it can particularly apply to in-game scenarios. Sports fans can often tend to back their favorite team or players or make decisions in gambling that are based more on the "gut" than any tangible data. This can become all the more of an issue when in the midst of watching a sporting event, as emotions can run hot.

When analyzing in-game betting options, it is essential to stay focused on finding beneficial odds. This is in addition to analyzing in-game situations in an efficient manner and making the right bets while they are on the board. To make these quick decisions intelligently, it is vital to stay focused on what matters, not personal preferences or gut impulses.

Types of Live Bets

The variety of live bets available is essentially the same as pre-game options. One caveat is that depending on the sport and sportsbook, you may generally find a somewhat slimmer live betting selection. This is particularly true regarding props and other less traditional betting options.

It is difficult for sportsbooks to maintain odds on as many options in-game. Though this may limit the market somewhat, you will find a robust in-game betting selection at any of the top regulated US sportsbooks. Let's look at the three common types.

Live Traditional Bets

Traditional bets refer to your standard moneyline, point spread, and totals betting. Sportsbooks will offer ever-changing live lines on these options as sporting events progress.

The more a team gets ahead, the more the moneyline and point spread will move to reflect the discrepancy. Totals will move based on the current score and whether it skews high or low.

Live Prop Bets

Proposition (prop) betting in-game is another standard option you will see. Instead of wagering on what team will win or the total score, you are betting on other types of statistical events within the game. There are player props, team props, and game props.

An example of a player prop would be to bet on how many touchdowns an NFL quarterback will throw for. A team prop might be the number of points an individual NBA team will score. A game prop example would be betting on whether a safety will occur in an NFL game.

Live Parlay Bets

Parlay betting involves combining multiple selections into one wager for increasing payouts. The downside is that if even one loses, your entire bet loses.

You will often see live same-game parlay options at sportsbooks. These enable you to pair multiple betting selections from a game that is already in progress into a parlay. The upside is significant if you win, but the odds of winning parlays are significantly lower than single wagers.

Benefits of Live Betting

You might wonder what the benefits of live betting are. Why might you want to bet in-game rather than simply place your wagers before the start of sporting events?

Ability To Evaluate In-Game Scenarios

When betting before a game starts, the information you have is limited. In contrast, during a game, an astute sports fan may be able to notice specific trends and pounce on bets based on their observations. These include coaching game plans, injuries, individual player performance patterns, and more.

Of course, lines and odds rapidly shift based on what occurs during games. When certain events occur, you will note that some live betting options will lock until the sportsbook reevaluates the odds. Still, there are scenarios where in-game observations can lead to good betting opportunities.

Entertainment Value

While we would all like to make money in betting, one of the main drivers to wager on sports is the entertainment it provides. Betting in-game enables you to place multiple wagers and offer yourself various opportunities to win throughout a sporting event.

There may also be situations where you want to watch a game, and your initial wager is not panning out. Here, placing additional bets in-game can enable you to enjoy the rest of the event with the fun of having money on the line.

Opportunities To Find Good Odds

Since sportsbooks constantly shift lines and odds on a dime during sporting events, keeping them entirely efficient can be more difficult. For this reason, if you are looking for the highest expected value bets, keeping an eye on live odds is wise.

You may have more potential to find good opportunities in the live betting market than on pre-game odds. However, this requires diligence in keeping a close watch on the odds and status of games and the ability to make quick calculations and decisions before the odds move.

You Didn’t Place a Wager Before the Game

One of the most common reasons to live bet is the simplest. Perhaps you simply didn't place your wager before the game started. This could be for various reasons, but in any event, you may be watching the game and want to put some money on it after it has started.

This is where live betting comes into play. You can also bet on halves and quarters in-game, but live betting lets you get action down on various bet types at any given moment during the sporting event.

Why Live Betting Is Exploding in the US

Live betting has become increasingly popular in the United States as sports wagering has become legal in many states. This has enabled the rise of online sportsbooks, which are tailor-made for the live betting experience.

Live wagering is available in retail sportsbooks, which now have betting apps. Still, traditionally, one would have to go to a betting window to place in-game wagers, which is less than ideal due to the fluid nature of events in games and shifting odds. Wagering from the comfort of your computer or mobile device lends itself far bettors to live betting efficiently and enjoyably.

In addition, online sportsbooks have given rise to "micro-betting." Micro-betting allows bettors to wager on single events within a game rather than the results of the entire affair. 

Examples include betting on the result of the next play in a football game or an individual at-bat in baseball. Jake Paul's Betr app is a leader in the burgeoning micro-betting landscape.

Top Live Betting Strategies and Tips

For most of us, sports betting is a recreational activity. Still, regardless of whether you are in it for purely monetary reasons or just to enjoy sports, we'd all rather win than lose. Let's take a look at some of the best live betting strategies to help give yourself the best opportunity for success.

Do Your Pregame Research

Although we are discussing in-game betting, it is essential to go into the affair with good knowledge of the teams that are playing and the matchup. To assess events occurring as the game unfolds appropriately, it is crucial to have a good feel for the situation beforehand. You want to know what various happenings during the game mean from a broader, informed perspective.

Limit How Many Games You Live Bet at Once

Keeping a close eye on the live betting market for even one sporting event at a time is difficult. Not only do you have to keep track of odds and pounce on them when they are at their best. You also have to track the games to ensure you are picking up on relevant information and not missing anything.

For this reason, limiting how many sporting events you were attempting to live bet at any given time is wise. There is only so much bandwidth available for following the shifting lines and odds and the occurrences that are happening within the games. 

Analyze and Act Quickly

Live betting is ultimately a game of making fast decisions. Odds and lines are constantly changing quickly upon relevant game happenings. You have to ascertain when a game event is significant and jump on the best bets before the odds move.

On top of it, it is crucial to be able to analyze the odds for value quickly. You must be able to calculate and ascertain where there is value in bets and make them rapidly while they are still available and present value based on the game situation. Using betting calculators can be very helpful in this pursuit.

Top Live Betting Sports

We will analyze some of the most popular sports for live betting in the US. While live wagering is prevalent for a wide variety of sports, we'll take a look at the "core-four" team sports in US betting.

Live Betting on Football

The NFL is king in the US, and football betting is the most popular. For this very reason, you will find an extensive selection of in-game betting options for football.

These range from all of your standard wager types to a solid prop market.  Football also lends itself very well to micro-betting due to the slower-moving nature of the action compared to sports like basketball.

Live Betting on Basketball

Live betting on basketball is prevalent in the US. The NBA happening almost every day during the season gives us lots of live betting opportunities.

Basketball is one of the best sports in terms of the ability to gauge in-game events to find an edge in live betting. An astute fan can make observations regarding player rotations and coaching schemes. There is also player foul trouble and other in-game factors to account for that may lead to inefficient odds at any given moment.

Live Betting on Baseball

While baseball is not quite as popular in the US as football, it is an excellent sport for live betting. Not only will you find all the standard traditional live betting options like moneylines, point spreads, and totals. There is also an excellent selection of props and same-game parlays at many sportsbooks, including some friendly micro-betting options.

Baseball lends itself very well to micro-betting since it occurs at a slow and controlled pace, one at-bat at a time. This makes it easy for sportsbooks to offer props on the result of each player's individual plate appearances. Understanding batter-pitcher matchups can play a big part in this particular type of live betting.

Live Betting on Hockey

Although hockey has a reputation for being somewhat less popular than some American sports, NHL betting is a thrilling experience. All the more so with live betting, for which you will find a good selection of options at top online sportsbooks in the US. 

There is plenty of opportunity to wager in-game on moneylines, puck lines (hockey's version of a point spread), totals, alternate puck lines, any-time goal scorer bets, and more. In-game options are plentiful and fun to bet on and follow during the hockey playoffs, especially the Stanley Cup Finals.

How To Live Bet the 2023 NBA Finals

The 2022-2023 NBA playoffs are underway but are just getting started. We have plenty of postseason action ahead of us, culminating in the NBA Finals.

Live betting options tend to ramp up during important events like the postseason and championships. We will see a lovely selection of in-game bets throughout the playoffs and certainly during the Finals.

By keeping a close eye on the NBA action throughout this postseason, important information for live betting can be gleaned. This includes understanding player rotations, coaching tendencies, defensive matchups, injury impacts, and more. We can use all this to our advantage when the NBA Finals arrive in June.

Live Betting Conclusion

While many casual betters think of live betting in terms of the ability to get in action after the game starts, it goes a lot deeper. Yes, placing additional bets as a game goes on can be fun or make up for a bad pregame wager. It is also helpful when you wish you had bet on a game before it started but didn't get your wager in.

Still, there are many tangible reasons why in-game betting can be a smart strategy in wagering when done correctly. The ability to gain information from what is happening in the game is one. This is in addition to, at times, less than efficient odds due to the ever-shifting nature of sporting events.

Live Betting FAQ

How Does Live Betting Work?

Live betting is not much different than pre-game betting in terms of the available options. However, odds and lines are frequently moving as sporting events unfold based on what is occurring within them. With live betting, you can place various wagers while games happen in real-time.

Where Can I Place In-Game Bets

Live betting is available at all top regulated US online sportsbooks. Retail sportsbooks also offer the option to bet on games live. When looking at any of the best online sportsbooks, you will see live game odds and lines for any bet that is currently available at any given time.

How Are Live Betting Odds Set?

Sportsbooks are constantly running algorithms behind the scenes as events occur in games to set the live odds. These are set based on actual probabilities of game outcomes with the vigorish (the money the house takes off the top) factored in. This is why you will see the odds move frequently and live betting options "lock" at times until new odds can be calculated.

What Sports Can I Bet Live?

The live betting options can vary depending on the sportsbook, but you can reliably bet major US sports like NFL, NBA, MLB, and NHL live at top US sportsbooks. This is in addition to live options being offered for other sports, including soccer, UFC, and more.

Is Live Betting Better Than Pre-Game?

There are some benefits to betting before a game starts, while there are others to betting live. It is impossible to say that one is better, although live wagering enables you to use information gleaned during the event to make betting decisions. In addition, odds and lines may be less efficient due to needing to be changed rapidly in response to dynamic in-game events.