What is live betting?
Live, in-game betting is one of the most popular new ways to wager with online sportsbooks. Live betting allows you to place wagers on events which have already started, and are in progress. There are many reasons to bet in-game. You can increase your position, or hedge your position out of a match. There are many subtleties to in-game betting that present opportunity to the intelligent bettor. Indeed, there are professional players that specialize only in live betting.
A bookmaker turns a profit by setting a surcharge, or “juice” behind each line set. The lower this charge is, the more attractive to punters. A standard -110 line set is known as a 20-cent line. A bookmaker using a standard -110 line requires a player to risk $110 for the chance to win $100 when the price is Pick’em. The extra $10 is the vigorish.
Live betting sportsbooks typically configure their line sets between 20 and 40 cents. A 20-cent line has a house edge of about 4.5%, whereas the player is giving up an average of 8.3% versus a 40-cent line.
One of the things a sports bettor must be able to do is wager the appropriate portion of his bankroll on each play. Bettors pricing their wagers using the Kelly Criterion routinely allocate fixed percentages of their bankroll based on the amount of expected value (or EV) they expect each bet to hold. The above list details the live, in-game wagering limits per league. In many cases, a player’s advantage will suggest that he should bet whatever the maximum wager is.
After examining the line set and wagering limits, most bettors look at how frequent a sportsbook accepts in-game wagers. Most sports books only allow wagering during commercials or extended breaks in the action. Some books allow continuous wagering, especially in soccer.