Live betting is a relatively new addition to the sports betting industry but has had a huge impact so far. This new type of betting has allowed sportsbook operators to diversify their offering and has given bettors more choice in how they place wagers on their favourite sports.
The most popular type of sports betting is football betting, in the UK fans will bet on Premier League games while in the United States betting on the NFL is a popular option. It isn’t just football that is offered on sportsbooks sites, there are a variety of sports including basketball, ice hockey, cricket, tennis and more.
Live betting is now an option for all of these sports on the top sportsbooks. It is important that bettors research and choose reputable sites to place wagers if they are to have a safe and enjoyable experience.
But what is live sports betting?
Perhaps you enjoy watching certain sports on television or in-person but have never placed a bet, or perhaps you have previously placed other types of bets such as moneyline or totals bets but are yet to experience live betting.
Live sports betting is sometimes called in-play betting and involves an individual placing a bet via a sportsbook once the game has already started. The odds change throughout the game as the game progresses and points, or goals are scored.
When did live sports betting become popular?
There are two main contributing factors that have encouraged the development and growth of the live sports betting industry. Firstly, the technology used by betting operators has advanced significantly over the last couple of decades and made live betting a possibility.
In the 1990s, if an individual wanted to place a bet during a game, they would need to call their bookmakers and place their bet over the phone, not all bookmakers were able to use this as a betting option.
Moving forward, the technology that supports the running of online sportsbooks has improved in complexity and functionality meaning that many sites are able to support live bets. Also, most people now have easy access to a smartphone or laptop with instant internet connection, so they are able to place a bet quickly and easily via the website or app during the game.
Another factor that influenced the rise of live betting is changes to gambling related legislation in different countries around the world. For example, in recent years a number of US states have lessened restrictions and allowed citizens to legally place bets on online regulated sportsbooks.
These changes in the law have enabled the online gambling and betting industry to grow in key markets around the world, like the United States, and so online gambling operators have been able to invest more money into developing their sites and live betting technology.
The technology behind live betting is complex and so it has taken time and research to provide bettors with a seamless gambling experience.
What is so great about live sports betting?
One great aspect about live betting is that there are many different online sportsbooks that offer live streaming capabilities to users with funds in their account. This cheap, new way of accessing live game streaming is changing the way that fans watch games.
An additional perk that live sports betting gives is the option to cash out at certain points in the game. For example, a bettor may choose to chase out if the team they bet on winning is ahead before the game comes to an end.
In this instance, the bettor would receive a pay-out but this would be significantly less than what the sum would be if they waited until the end of the game and had a positive outcome. If you have placed a multi bet you might also have the option to remove or replace individual bets, but these options do differ between different sportsbook sites.
With live betting, the odds change throughout the game, and this keeps bettors on their toes and adds an element of thrill and excitement to watching the game. While fans are already likely to be invested in their favourite team taking the trophy, when you have money on the line this adds suspense.
This type of betting also gives bettors more options that they would have in comparison to traditional betting methods. A sportsbook user may wish to see the game begin and get a sense of the team’s preparedness and skill before parting with their cash.
Live betting has changed the sports gambling industry immensely. Not only has it given us more betting options, but it has also increased the number of ways we can watch and become involved in sport.
As more sites add live betting capabilities and more governments relax their rules around sports betting, we can expect this industry to continue to grow and thrive.