Betting in-running, or live betting as it is commonly known, accounts for about half of all betting on sports nowadays.
As the name suggests it involves betting on an event once the event has already begun. In a football match punters can now bet on the outcome of a game or if another goal will be scored right up until the final whistle. Most sporting events now have betting markets available right up until the result is determined.
Benefits of Live Betting
- Bookmakers yield a much lower return on the average live bet than on the non-live which suggests that live betting is better for the bettor.
- You can wait and see how an event is unfolding and offer a more educated opinion.
- Things change fast and it can be very exciting.
- You have many more opportunities to bet.
- You can bet on the next player to win a point in a tennis match or the next player to throw a 180 in darts. There is never a dull moment for the bettor.
- You can lock-in a profit before the result is in.
- Take for example a tennis match. You have backed Nadal to beat Murray at 2/1 before the match starts. Nadal wins the first set and now Murray is 2/1 to win the match so you put some money on Murray at 2/1 to guarantee that whoever wins, you make a profit (This is how you would do it with a fixed odds bookmaker. With a betting exchange you can just ‘lay’).
Delayed Bet Processing
When placing a live bet you will notice a delay in processing the bet. Most bookmakers traditionally put a 7 second delay (5 seconds only on betting exchanges) on placement of a live bet. This is so that the bookmaker has a cushion in order to react to something happening and either suspend the market or adjust their prices accordingly. It also protects against the possibility that some punters may be getting their television pictures a few seconds ahead of the bookmakers – or even actually be a spectator at the event while they are betting.
If the odds get shorter in the 7 seconds while you wait for your bet to go through, it will not be accepted and you will be reoffered the same selection but at a lower price.
If the odds get longer during that 7 seconds then your bet will be placed and you will receive the higher (and better) odds.
Automated Trading
Some bookmakers manually adjust their prices in-running but most of the major bookmakers now run off pre-determined models. Every price on every market is linked to the starting prices of the competitors and the current score. This means savings for the bookmakers in resource overheads because 1 trader can trade several in-running events at one time.
A punter who is aware of this fact should be able to use it to their advantage. Bookmakers don’t always get the starting price correct so in a situation where you think they have obviously miscalculated the starting price you will be able to find excellent in-running value because the latest prices being churned out by the robot are all coming from the incorrect starting price.
GENIE SAYS: Live betting is booming and will continue to get more popular. It allows a more educated prediction of the outcome and a knowledgeable punter should be able to make a profit.