Live betting, the art of placing wagers on a sports event while the fixture is still being contested, is an increasingly popular form of gambling, presenting advantages for punters and bookmakers alike. The demand for live betting, something that was practically unheard of a few years ago, is now phenomenal.
What is live betting?
Also known as ‘in-running’ or ‘in-play’ betting, live gambling allows bookmakers to markets during the match, presenting the punters with significantly more opportunities to bet than with traditional pre-event betting. Players are given the option of betting on half and full-time scores, as well as significantly more fluid elements of a game, such as the number (or outcome) of free-kicks, throw-ins, or penalties. Of if we talk about basketball live betting it could quarters totals and handicaps, team individual totals, winning margin and so on.
The obvious benefit of giving punters more markets to throw their money at is an increase in profit for the bookmaker; one leading bookie reported that a third of the money it made during the 2010 World Cup was collected by the firm’s live betting service. It also noted that the amount wagered increased by ten per cent compared to the last World Cup. Anyone following the Euro 2012 betting should expect live betting to play a big part in this event too.
London newspaper, the Evening Standard, cites the example of a match between Brazil and Tanzania, last year, as evidence of how profitable live betting can be for bookmakers. A late consolation goal by Jabir Aziz of Tanzania turned a devastating loss for the bookies, into a huge victory. Brazil had been heavily backed in the international football betting by in play punters to claim a flawless 4-0 victory, but Aziz’s late goal caught gamblers unawares, allowing the bookmakers to claim the money.
Why live betting is so hard to make profit?
The inherent difficulties of predicting outcomes ‘on the fly’ is perhaps what makes live betting so attractive and it also allows people to lay off bets, adding another dimension to things. When you have few hours to analyze stats, rosters and set your percentage for 1-x-2 outcomes in soccer it is one deal, but when action goes live you have only few seconds or minute to decide if you would like to back your favorite when it is losing 0-1 at some certain odds at 26 minute of the game. The problem is that you can’t set estimate chances in your head to find value in live betting line. And that’s why punters so often stay on the wrong side…
Bookmakers owns huge statistical databases for all kind of sports and leagues. They know the statistical part of live betting much better than you. And in the long term live betting brings much higher profit for them because punters doo too much mistakes and stupid bets like backing favorite at low when it leads with comfort in HT. The only problem is that they need more money in-play.. That is why we see so much gambling companies sponsoring teams and more and more live betting offers.
To make profit live betting you must be very fast in finding value if it exists and you should know statistical part of live betting in your sport at very high level to be profitable on long distance.