From a betting perspective, the action no longer stops when a game or event gets underway. Live betting, also called in-play betting, allows users to place new wagers in real-time as the action unfolds.
Live betting was once an add-on feature for mobile sportsbooks, but it has taken off in recent years. Sportsbooks across the nation, including right here in Michigan, have responded to the demand and made it a focal point.
This guide to betting on sports live will cover all of the ins and outs you need to know. From the top places to get in the game to tips you can use to your advantage and all points in between.
First things first, you’re going to need a place to play that offers live betting, but you naturally don’t want to settle for a book that doesn’t meet your standards. That’s not an issue with our trio of recommended options.
The daily fantasy sports giant DraftKings Sportsbook shook up the industry when it entered that market, and the same thing is happening in sports betting as the company is making big waves.
FanDuel Sportsbook is another daily fantasy sports giant that’s also knocking it out of the park with sports betting to become a preferred destination for numerous sports bettors.
Visitors to an MGM property or one of the company’s online gaming sites have come to expect a quality experience, and the same high standards are in place on BetMGM Sportsbook.
Each of our recommended operators is simple to sign up for and very user friendly. It’s tough to beat the convenience of having a legal Michigan sportsbook with you wherever you go, not to mention at your fingertips whenever you want to dive in with live betting.
Live betting can also be referred to as in-game or in-play betting. In all three cases, it’s referring to wagers that can be placed after a contest has already gotten underway.
Once upon a time, bettors who didn’t have their bets placed in advance of start time were sidelined until the next event. That’s no longer the case. Thanks to live betting online, users can explore new offerings as they come up in real-time.
It’s a market that moves incredibly fast. The opportunities can go by quickly, and the odds update at breathtaking speed. As such, a mobile app makes for a great way to stay on top of things and explore all that live betting has to offer.
Live betting has become a big focal point for many bettors, while others simply use it as another piece of their overall handicapping strategy. The good news is that you can jump in at any time, and any knowledge you may have picked up while initially handicapping the contest may apply.
The game may be going much differently than you had initially anticipated. In cases such as this, live betting gives you the chance to hedge your initial positions, but you can also consider sticking with your initial instincts by doubling down.
Regardless of how live betting fits into your overall strategy, it’s important to remember that these markets move quickly and things can change in an instant. While that’s part of the excitement of live betting, caution needs to be applied so you don’t get too carried away.
For regular sports betting, you break down a game or lean on the advice of a source you trust, place your wagers, and then watch the game while hoping that you made the right call. Bets aren’t official until the game is in the books, and you can sweat right along with particularly close contests.
Live betting opens the door to new possibilities. Instead of just sitting back and hoping for the best with your betting tickets, you can jump in and wager along as the action plays out in real-time.
Let’s say a big NFL Sunday is on the way. You’re looking forward to a game between the Detroit Lions and Minnesota Vikings. The host Vikings have been installed as 3.5-point favorites, but your handicapping tells you that the Lions will give them a run for the money.
You take the Lions plus the points and settle in to watch. Minnesota gets off to a hot start and leads by a score of 10-0. You start feeling a bit skittish about the bet, so you decide to see what the live betting market has to say.
Since the market reacts in real-time, the live betting offerings you see are reflective of the new reality. You might see new odds offered on the moneyline, spread, and total, as well as a whole slew of other opportunities to consider.
Your main focus is on the game, so you have a decision to make: Do you want to hedge your bet on Detroit by switching sides, or do you think a Lions comeback is in order?
At a minimum, you expect the visitors to claw back and make a game of it. You place another bet on Detroit plus the points at the new odds and settle back in to watch the rest of the game.
The game plays out, and it turns out that your instincts were spot on in both cases. The Lions came back and gave the Vikings all they could handle before losing a heartbreaking 28-27 decision.
While you’re bummed about the game result, you take solace in the fact that you cashed two winning tickets on the Lions plus the points. Live betting gave you the chance to earn even more profits off of the game, and you seized the day.
Of course, the situation could work in reverse and you could lose both bets, so live betting is certainly not for the faint of heart. However, it can certainly earn a place on the bench for a well-disciplined wagering strategy. We’ll go through some live betting tips you can use in a bit.
The live betting market works in real-time. The offerings will vary based on what’s transpiring on the field of play. The same holds for the odds. Since we don’t know exactly what will be happening for any given game or event, there’s no set answer as to what the odds will look like.
The lines for live betting are set just like they are in advance of contests, albeit in super quick fashion. To set the total odds for a game, a team behind the scenes at the sportsbook operator will crunch the data and examine the most likely outcomes.
As you would expect, computers and algorithms do lots of legwork. Once the process is complete, the initial lines are released to the betting public, which then gets its chance to weigh in. Naturally, the market will move based on the action from that point.
For live betting, the odds you see online or on your device appear instantaneously, but you can be certain that there are tons of moving pieces behind the scenes.
Of course, there’s always the possibility that the operator will post some seriously favorable odds on an outcome you expect to come to pass. That’s just another part of the excitement of live betting online.
As for the listing of the odds themselves, you’ll find some similarities to other types of betting, such as head-to-head matchups or prop bets. For example, a live bet with just two choices might look something like this:
Will Matt Prater make this field goal?
When it’s a live bet with a range of choices, then it might look something like this:
Which Pistons player will score the most points in the second quarter?
Remember: these are fast-moving markets. It’s a good idea to be selective about the offerings you take advantage of as a result. Don’t worry, you’ll have plenty more to choose from as the rest of the game plays out.
Live betting has evolved into a featured offering at online and mobile sportsbooks. The markets will be front and center as a result. At most operators, there’s a dedicated tab or link which is exclusive to live betting.
After you have clicked on that, the main betting lobby will automatically populate with all of the current or upcoming offerings. Typically, you’ll be able to filter down to the sport or game you’re interested in as well.
You can also find live betting under the sport-specific sections. If you click on the link labeled NFL, current and live offerings should come up, for example.
Once you have located the bet that you want to place, it works just like any other wager. It’s just a matter of clicking on the odds for the selection you want to make. The bet will be automatically added to the slip.
From there, you’ll just have to add in your wager amount and verify everything is good to go before clicking submit. The mobile apps for leading operators are top-notch. Using them for live betting will become old hat before you know it.
Live betting is offered for all of the major sports. On the team-based side, that means the top pro and college leagues. The big individual sports also attract plenty of live bets. At some Michigan sportsbooks, there are even live betting markets offered for niche sports.
In general, the bigger the game or event, then the more action you’ll see from a live betting perspective. While the actual offerings will vary, here some examples of the opportunities you might come across.
For other big team sports such as soccer, it’s a similar story. You’ll see offerings based on the specific game situation, as well as some prop type bets to consider, among others. The individual sports are a similar concept for live betting.
You’ll also find live betting on the other major individual sports such as UFC and NASCAR. As mentioned, some books will offer markets on other sports, so be sure to check with your operators to see what’s available.
For pregame bets, there’s plenty of time to research the matchups and consider things such as expert consensus picks. That’s not the case with live betting, but any knowledge you may have obtained while handicapping the contest can be applicable.
Since the market moves so quickly, there’s just not enough time to drill into it. As the offerings come up, you have to examine the wager itself as well as the odds. From there, you need to make an instant decision on whether to bet or pass.
It can be a little intimidating the first time or two, but getting up to speed doesn’t take much time. Here are some live betting tips you can use to get off on the right foot.
Live betting can be lots of fun, but it can also go in the other direction at times. No matter how well-versed you may be in sports, there will be times when things just don’t go your way. That’s part of the game, and there are also some other pitfalls to be mindful of when it comes to live betting. Here are three of the biggest to keep on your radar.
The sports betting industry as a whole is growing at a rapid pace, and live betting is one of its fastest-growing segments.
The market moves fast, but that only enhances the appeal for many users. If you like making decisions on the fly and have a good read on things like momentum and specific game circumstances, then live betting could be for you.
Live betting can help keep you further engaged with the contests, but it’s also not for everyone. If you’re the type who prefers to wager beforehand and doesn’t want to be bothered once the game gets underway then it might not be for you.
That’s perfectly fine if it turns out to be the case, but taking the time to explore live betting in full detail before making the decision may open your eyes to new horizons. As with all types of sports betting, there is a learning curve involved.
Once you get over the hump, live betting can be enjoyable and potentially profitable, but discipline and strong bankroll management are imperative for sustained success.