Many times we hear regular punters talking about something called live betting. As the name signifies, if you place your bets after the game has already started, then you are doing live betting. Live betting is popularly known as in-play betting or in-running betting. For instance, you can bet on different aspects of an IPL match after the game has already started and you can do so throughout the game.
However, playing live bets is not everyone’s cup of tea. One needs to be thoroughly aware of the statistics, players, playing conditions and other ruling factors of the game. Once you have done all the research, you are good to go. You can always refer to onlinecricketbetting.net for such information and live betting tips.
Live Betting Explained
Okay, the whole live scenario sounds fine, but how it works? Don’t worry, as we are here to explain. To understand live betting, you need to know to what are odds. In the online sports that you will be using will have odds on the match or the sporting event, before the event has started. The odds don’t remain the same throughout the game, as they keep changing with changing game scenarios.
Try to understand with this simple India-New Zealand ODI example. If India were an odds-on favourite before the match started and after the game begins, India loses some early wickets, then the odds will change in favour of the Kiwis. India may still be the favourites, only they now have a less chance to win. Hence, the odds will be raised. Does the scenario sound familiar? Therefore, if you wished for New Zealand to win, now you will get better odds than you would have if you had placed your bet before the game started. Again, if the Indian middle-order batsmen build up a strong partnership and no more wickets are lost, then the odds will change back. Please remember that it’s not just wickets which turn the odds. Similarly, in soccer, the odds aren’t only dependent on the goals. All the actions during a sports event affect the odds with different magnitudes.
The odds are decided using a software algorithm by the individual sportsbooks. The algorithm is designed in such a manner, so it keeps reflecting the changes in the game in its output, i.e. the odds. In layman’s language, the algorithm does so by considering the aspects of the running game and corroborating it with the old statistics.
When a significant action happens in the game, the sportsbook pauses the betting for a few seconds to give some time to the algorithm to work on new odds. Once the latest odds are out, betting will continue. This happens regularly during a game, especially during a cricket match.
Live betting tips
There are numerous advantages of placing live bets. Especially if you are not a regular bettor, you will know more about the betting procedure, and then you can figure out the pattern of odds by placing live bets.
Some novice bettors come under the ‘fan effect’ while placing bets. Fan effect is when you place the bets in favour of your favourite team, without considering the odds and statistics. What we want to convey is that thorough research and stats analysis is very important for playing any bet. In live betting, you can wait and see the first few minutes of the game before placing the chances on your fancied team.
Apart from cricket, there are more peculiar scenarios in other sports too. For example, who will perform a successful raid in a Kabaddi match of PKL or who will secure the next point in a badminton match? This gives the bettor more ways to win, and to lose! In this way, you can place bets on events even before they have started. You should not hesitate to change your mind while the game is still on. We are repeating it, don’t come under the ‘fan effect.’
What all do I need to consider?
If you are still wondering about what are the factors which you need to consider, we are here to help. You must check on the following factors, most of them are common for all sports:
- Overall team/player strength
- Form of main players
- Playing conditions
- Importance of the match
- The venue of the match (yes it matters)
- Previous records on the same ground/venue
- Player to Player contests (for example, Lasith Malinga vs Virat Kohli in cricket and Christiano Ronaldo vs Lionel Messi in soccer)
Be a responsible bettor
Betting invites money-related risks and hence you must play responsibly. You should refrain from following the live betting tips from amateurs because you don’t want to lose money. It’s a good idea to start with small amounts and progress ahead as you develop the betting aptitude. Happy betting!