Live betting is also known as in-play or in-game betting and refers to the act of placing a bet while an event is already in progress. While live betting has been around for over a decade, its prominence in the betting industry has grown by leaps and bounds over the past 5 to 10 years due to the recent advancement of online sports betting technology.
Why is live sports betting so popular?
Watching a game play out live makes us more emotionally invested viewers and therefore also often increases our desire to place money on a side. Live betting provides us with that outlet and is also a fun way to make watching a game more entertaining.
Not all matches or contests in the sporting world are thrilling, white-knuckle affairs, but when you add in a live-betting element, all plays begin to have meaning.
Betting a game in-play also means that we are privy to more real-time information as the game plays out. For experienced or professional bettors, that can also mean that bigger edges can be found in live betting that don’t exist in the regular, pre-game betting markets.
Buffalo Bills quarterback Josh Allen (17) looks to throw in the first quarter during an NFL divisional playoff football game between the Cincinnati Bengals and the Buffalo Bills, Sunday, Jan. 22, 2023, at Highmark Stadium in Orchard Park, N.Y. Cincinnati Bengals At Buffalo Bills Afc Divisional Jan 22 0192
The continued support for sports betting legalization across the United States has also been a huge factor in the rising popularity of live betting. Sportsbooks have been able to expand greatly in size as betting has become legal in more districts and states, which has allowed companies to improve technology and make apps easier to use —and more likely to attract people to live betting.
Some online sportsbooks have even reported that the majority of their revenue, now comes from live betting.
How does live sports betting work?
Before online sportsbooks became prominent, the only time you could reasonably get a wager in on a game was prior to the starting time. At that point, a sportsbook or bookie would close betting and you’d be left on the sidelines if you hadn’t already placed a bet.
Now, with online sportsbooks all having advanced technology and algorithms that can respond to changing action in seconds, bettors can pretty much place a bet on a game at almost any point before it ends.
How are live odds calculated?
The live odds you see on a sportsbook are produced from proprietary computer algorithms that will update the odds based on the movement within a game. These are advanced tools that will shift odds based on circumstances such as which side is attacking more, quality of chances, and changes in score. Each online sportsbook uses these kinds of software to ensure they gain an edge in live betting.
While sportsbooks do also employ odds compilers (who are essentially sports traders), live, in-play odds are almost solely run by machines. This allows sportsbooks to offer a far greater variety of in-play betting options while maintaining their edge against the general public.
One of those sportsbooks with a robust suite of live betting options is DraftKings Sportsbook. They are also offering new users $150 in bonus bets for signing up and placing a $5 pre-game moneyline bet. If your bet wins, you'll get $150 in bonus bets (that can be used on live betting). Sign up below and start betting today.
How to read live betting odds online
Once a match starts, the pre-game betting ends and the live betting action begins. As the match progresses and the game plays out, sportsbooks will constantly update odds and lines while allowing sports bettors to get in more action at various points in the action.
In an effort to keep bettors informed, many online sportsbooks will often send various cues (flashing screens, colors, notifications) on their apps to indicate that a line has changed.
As we can see below, the direction of the live betting lines at BetMGM are indicated by the color and arrows. Green and an upward arrow indicates the new odds are higher than the previous level, while red and a downward arrow indicates the new odds are now smaller.
In terms of offerings, the number of markets available in live betting depends solely on the match and the sportsbook. However, most live betting markets will include a various assortment of money line, spread, and totals bets, as well as game and player props (depending on the sport).
Once you pick a live bet you want to make, you need to make sure the line is active and not locked by the sportsbook. Often times, this kind of activity will be noted on a sportsbook by the lines “going gray” or fading in color, indicating they are no longer available.
Since live betting odds can move quickly, live betting does require an element of speed and fast decision-making.
However, while attentiveness is required, this part of living betting is also what makes it fun and more of a dynamic activity than pre-game betting. Getting in a bet on a live betting line before the sportsbook locks it or takes it off the board can be very satisfying—especially if you’ve gained a significant edge on the new line.
Once you have grabbed your bet from the live betting market and confirmed that it is still available, live betting is just as simple as pre-game betting. You simply set your wager amount, hit confirm, and secure your action.
What are the advantages of live betting?
While placing live wagers works in much the same fashion as pre-game wagers, there are vast differences between live betting and pre-game betting.
In live betting, when a bettor places a bet, they are making decisions based off of action that has already occurred in a game or match. While we do have information to act off of in pre-game markets (injuries, lineup changes, line movement), live betting offers us a constant array of actionable information as the game plays out.
In this way, live betting can be vastly superior to pre-game betting, especially for experienced sports bettors.
In a pre-game bet, as there has yet to be any live action for us to observe, most of the information we are going off of is static. While things like injuries and lineup changes can alter a pre-game betting line drastically, there are often few opportunities when betting pre-game to respond to these kinds of moves.
That’s not the case with live betting. When live betting, we are responding to action that has just taken place and can often use the information to our advantage.
If a team that was favored pre-game starts out slow and gives up a quick touchdown or a goal, the live betting lines would be drastically altered from what they were before the game started. Depending on the situation, this kind of fluctuation may also provide us with a solid opportunity to back a team at a better price than they were pre-game.
Additionally, having access to live betting also offers us the ability to hedge against any of our pre-game bets.
In the below example, if we had made a simple pre-game money line wager on the San Diego Padres at +100 ($100 to win $200) to beat the Arizona Diamondbacks, we could use the updated live betting lines to hedge out of some of our bet (and secure a profit).
Now that the odds have made the Padres a significant favorite, a smaller re-investment on the Diamondbacks at +210 could easily secure us profit, no matter the outcome of the match.
In this sense, live betting can be used as a way to manage risk with any pre-game wagers or futures. Circumstances and risk tolerances will vary, but once live odds have moved to a point where a bettor feels like there is good value in taking the other side, the live line can then be used to secure profit or reduce overall risk.
When does live sports betting make sense?
In addition to hedging, live betting makes the most sense when you feel like there has been a move in the action of a game or match that hasn’t yet been properly reflected in the betting odds.
For example, if we have a tied game between teams in an NHL or soccer match, but one of the teams is severely out shooting their opponent—or carrying more of the possession—there could be a chance to jump on the more dominant club before odds change.
These kinds of live opportunities exist in all sports. One great example comes from the world of golf and the 2023 Tournament of Champions, where we saw a multiple shot leader in Collin Morikawa get caught from behind by Jon Rahm in the final round.
Morikawa entered the final round as a massive betting favorite and with a six shot lead. He maintained steady play for the first half of the day but started to lose focus on the back nine, eventually making a bogey on the 14th hole. This all coincided with an insanely hot stretch by Rahm, who played holes 12-15 in five under par.
If you were observing the action, you would have been able to see the struggle by Morikawa mounting and the momentum building for Rahm. Despite the massive moves in momentum, the live odds on Rahm to win stayed between +800 to +1600 until he was deep in his round. Those odds were a massive gift considering Morikawa could never recover and ended up losing by two strokes.
Live betting player props
Live betting can also be advantageous in the area of player props. Many sportsbooks continue to offer live player props in popular betting markets, such as next touchdown scorer or rush/receiving yards for football. They are also widely available in markets like next goal scorer or next basket in sports like the NBA or NHL.
While many of these prop lines get updated as the game goes on, there are opportunities where lines for certain players won’t get updated quickly enough to reflect a player who is seeing increased usage or a role change.
An example of how live betting can be used to take advantage of these situations is below:
In football, if a receiver opens the game at +800 to score an anytime touchdown, and then is suddenly thrust up the depth chart in the middle of the game, that can have a dramatic effect on his usage for the rest of his game. Assuming his live TD odds don’t change, getting the receiver at similar or even better odds to score a TD than he was available at pre-game would be a massive gain from a value standpoint and a great opportunity to cash a large bet.
If you’re watching the game and notice that a part-time player is suddenly getting increased reps, you can use the live betting options to help take advantage by betting props specific to that player.
Scenarios where live betting makes sense:
- When a team who you liked pre-game falls behind quickly, and the odds have significantly improved or changed
- This is especially advantageous in sports like the NFL or NHL where fluky TDs and goals happen regularly
- When a game we expected to be higher-scoring starts out slower than expected, we can sometimes get the over at a better total than pre-game
- Whenever we think there is value in a line being offered (sometimes this means the odds are not updating fast enough to reflect current action)
- On player props when a player’s role or output has changed significantly enough that we think there is value in taking his over/under or scoring prop
You can put these strategies into practice on BetMGM, where you can get up to $1,000 paid back in bonus bets if your first bet does not win. Take advantage of their First Bet Offer and start live betting below!
What are the best sports for live betting?
Most sportsbook apps now allow for live betting opportunities across most major sports. The general rule, though, is that the more popular the sport, the more live betting opportunities exist.
Certain sports also allow for more live betting, either due to natural stoppages in play or longer shelf life of their games or matches.
Below is an overview of some of the most popular sports to bet on live and some of the best opportunities that live betting presents, on a sport by sport basis.
Football
The NFL is the most bet-on league in the world, with its title game seeing the most wagering action of the year. Since NFL games tend to create huge numbers in terms of number of bets and overall handle, most online sports betting apps will offer a massive variety of live betting options for every NFL game.
The NFL can be a great sport to look to for live betting opportunities. There are plenty of natural breaks after scores, and also a long half-time break where bettors can regroup and assess how the game has gone before placing a wager.
A great example of how live betting football can be profitable is from the 2023 Super Bowl, where the halftime game lines read as follows after the Eagles took a 24-14 half-time lead:
The Eagles had the lead, but anyone watching the game saw they were getting zero pressure and allowing the Chiefs plenty of wide open looks, making a comeback somewhat likely. Eventually, the Eagles poor defensive play translated into a bunch more points and a Chiefs win.
While plenty of bettors placed pre-game wagers on the Chiefs around +1.0, those who waited until halftime got the extra cushion of +6.5 and had a nearly sweat-free win by the time the late fourth quarter rolled around.
Types of football live bets:
- Moneyline bets
- Over/under total bets
- Point spread bets
- Player props (TD scorer and over/under props)
Baseball
Baseball is another game that provides bettors with plenty of breaks to take advantage of. MLB spreads and money line odds will fluctuate based on things like pitch count or men on base. However, large moves in lines really only occur when runs are scored.
Additionally, betting live player props in baseball can be advantageous if you know the tendency of the hitters (righty vs. lefty splits, batter vs. pitcher history). Since we often see plenty of pitcher/hitter substitutions, there can be plenty of good opportunities to jump in live on home run or strikeout props.
- Over/under run total
- Total hits in game
- Total home runs in game
- Total strikeouts in game
- Players props (HRs, RBIs, hits, strikeouts)
Thanks to BetMGM, you can try out live betting on baseball without the risk of losing your money right away. With their First Bet Offer, you can get up to $1,000 paid back in bonus bets if your first bet does not win. Claim yours below.
Basketball
Basketball is a far different sport for live betting than baseball or football. A typical NBA game might involve 100+ scoring plays and therefore see the live odds or game lines change on a second-by-second basis. Betting NBA money lines or point spreads live requires fast fingers and the ability to make decisions on the fly.
As far as NBA player props go, watching the bench rotation and game flow can be very important. Since the NBA is a long season with 80+ games, if a blowout develops, coaches will often pull players early and give their backups more run.
Conversely, a close game may mean starters get more shot opportunities down the stretch, and make them better targets to hit their overs in categories like total rebounds and points.
- Point spread
- Over/under total bets
- Moneyline bets
- 1st quarter/1st half bets
- Player props (total points, three-pointers made, assists, rebounds)
Golf
Golf is a unique sport for live betting as it involves fields of 100+ players most weeks, with the typical PGA event having 120 or more starters.
Most sportsbooks now offer live, in-round betting in outright (to win) markets, with some even expanding to include live placing markets (top 10/20). Most sports betting apps will also allow bettors to place live, hole-by-hole wagers which include matchup bets and player scores for every hole.
Since the fields in golf are so vast and there are so many players on the course at the same time, sportsbooks will sometimes be slow to update player odds after a hole. If someone down the leaderboard is suddenly catching fire and moving close to the lead, you will often have a small window of opportunity to bet on that player before his odds are adjusted downward and become less appealing.
- Outright winner
- Top 10/20/40 placing bets
- Matchup bets
- Hole-by-hole bets
Other popular sports for live betting include soccer, motorsports, MMA, tennis, and esports.
What are the best sportsbooks for live betting?
BetMGM
BetMGM offers a full array of live betting options across every major sport. It is one of the more unique sportsbooks in the area of live betting as it now offers a live cash out option, where bettors can secure part of their winnings by “cashing out” a portion or all of their bet once a match or event is in progress.
As noted in their terms and conditions, the live cash out amount for any bet you make on BetMGM will fluctuate based on the action in the game or match.
It is important to note that the “cash out” option on BetMGM is also not available or guaranteed on any bet. Giving the bettor a cash out option is at the discretion of BetMGM.
Additionally, when using the cash out option it’s important to note that the system must first check on the availability of the lines. If the respective odds have changed prior to a cash out being approved, the cash out can be rejected.
In this sense, while the live cash out option on BetMGM is a valuable betting tool, it also requires fast decision-making, as cash out offers will change just as quickly as the live betting lines do.
Interested in live betting on BetMGM? You can start today with their First Bet Offer and get up to $1,000 paid back in bonus bets if your first bet does not win. Sign up below for more.
DraftKings
Like BetMGM, DraftKings also offers a massive variety of live betting options. DraftKings was also one of the first sports betting apps in the United States to offer a live cash out option.
As noted on their site, DraftKings will also sometimes offer customers the ability to cash out a bet even before the event begins. Hence, if a line moves in a significant direction pre-game, you may even be able to cash out for a profit before an event begins.
Current US sportsbooks that offer live cash out options: DraftKings, BetMGM, PointsBet, FanDuel, Unibet, Bet365, and Caesars.
What type of live sports bets can you make?
Moneyline
A moneyline bet is one of the most simple wagers a bettor can make. In a moneyline bet, you are wagering on the outcome of the game. Nearly all sportsbooks will offer live moneyline wagers.
Point spread
In an against-the-spread bet, you are not betting on a team to win the game but rather betting whether a team will cover a point spread.
The margin of victory in an against-the-spread bet is the only thing that matters. The spread assigned to each team in a game corresponds to the projected margin of victory.
Point spreads can have huge swings in the live betting markets, and reacting to some of these swings can be advantageous. Point spread offerings in live betting markets are often just as popular as moneyline wagers, especially for NFL and NBA games.
Player props
A prop bet, or proposition bet, is a wager on an event that takes place inside of a game or sporting event. While a point spread or total points bet asks you a specific question about the end result of a contest, a prop bet asks you a question about a result that will take place inside the game or event.
Oct 30, 2022; Inglewood, California, USA; San Francisco 49ers running back Christian McCaffrey (23) runs the ball against Los Angeles Rams cornerback Derion Kendrick (6) during the second half at SoFi Stadium. Mandatory Credit: Gary A. Vasquez-USA TODAY Sports
Examples of popular prop bets today include first touchdown scorer bets in the NFL, player home run totals in MLB, and player point totals in NBA.
Not every sportsbook will offer live player props for every game or match, but larger leagues like the NBA or NFL will often have live player prop markets for you to wager on.
Live betting-exclusive sports bets
Next play bets
Next play bets can also be referred to as next event bets, next drive bets, or next point bets. They are asking bettors to wager on the outcome of the next play or action in a game or match.
Types of next play bets:
- Next point bets in tennis - betting on the outcome of the next point in a live tennis match
- Next hole bet - betting on the outcome of the score for a golfer on his upcoming hole in a live golf event
- Next drive bet - a bet made in football where bettors actively bet on the outcome of the team’s next offensive drive (TD, field goal, punt, turnover)
Flash betting
Flash betting is a new type of technology that adds in detail about the action of a game or match. Its main use comes in sports with constant back and forth action like tennis where bettors are able to track the outcome of a point as it progresses and also get instant payouts.
Many sportsbooks like DraftKings have implemented the feature at large events like Wimbledon or the US Open.
Interested in trying flash betting out? You can sign up for DraftKings Sportsbook and score $150 in bonus bets by placing any pre-game moneyline bet of at least $5. If the bet wins, you get $150 in free bets. Sign up below to claim your offer.
