In the beginning, the betting process was rather simple. But not too profitable. Over time, new ideas were developed to become the new staples of the industry, based on the demands made by the punters. The betting exchanges, the cash out option, the “lay” bets have taken up a place as such. Just like live betting which is now an integral option for all European and Asian bookmakers via agent, like those we cooperate with.
The concept
Betting before the start of an event is a set option. Bettors make a choice and hope that the final result justifies it. The demand therefore was for something more flexible. However, the set option was also a problem for the bookmakers, because if they got beaten, then they might have to pay tremendous amounts of money. In response to this demand, the process of live betting has been put to effect.
In plain terms, the process allows:
1) the players to place their bets while a game is played
2) the bookmakers to change the odds according to the way the event goes
The notion works both ways:
The players do not risk all of their bankroll. In conjunction with the cash out option the can both make a reasonable profit and save their stake.
The bookmakers can reduce the risk they take by adjusting the odds to reflect the actual conditions instead of the assumptions made before an event.
The key aspect
For live betting to work as it should, then the most important aspect is the proper “reading” of the game. For that, a player would need all the available information and statistics before the match, along with the relevant data while it is played. The reason? Let’s give you an example.
The aspects of Liverpool’s way of playing that made them one of the best teams in the world during the last 2 years, is the high energy in pressing the ball, the quickness in counterattacking and the effectiveness in scoring. So, if, during a Liverpool game, a player sees their opponents being dragged out of their defensive area, then you know that the next goal will be scored by the Reds.
Currently, it’s possible to have all match statistics in real-time. Some sites also offer live streams, a very successful feature amongst bettors. With all this in hand, the chances of failure decrease considerably and that is why so many players are interested in this process of making money.
Are all the markets available?
Usually, the number of markets available for live bets, varies according to the popularity of the match. If you open an SBOBET account via agent, for example, you will find a wide variety of markets for the most important events, but not as many for games of less popular championships. Here are some of the options you may find more often:
FOOTBALL
- Next goal: Which team or player will score next
- Next card: Who will be shown the next yellow or red card
- Total goals: The final tally on goals scored
- Goal differential: 1, 2, 3 or more goals of difference between the two sides
- Substitutions: Which player or players will be replaced by whom
- Qualification: This is probably the most common market on knock out rounds. Which team will qualify for the next round.
BASKETBALL
- Total points: The total number of points that will be scored during a match with an over/under limitation
- Moneyline: Which side will win
- Quarter winner: Team to win the current quarter
- Player of the quarter: Which player will have the most effect during the current quarter. This market is actually very interesting as it does not take into account only the points scored. It is the combination of points, assists, steals, rebounds and blocks that may determine the player to be awarded the honor. It may very well be that a player may score no points at all, but collect 10 rebounds, block 3 shots and throw 4 assists and be given the player of the quarter designation.
- Crunch time betting: The most interesting market for games where the two sides fight it out to the end. It calls out for what will happen during the last 2 minutes of the confrontation. It offers subcategories: winner, possible overtime, foul calls, missed foul shots and others.
TENNIS
- Set winner: Who will win the current set
- Exact set score: The score in games for the current set (6-4, 6-2, 7-6, etc…)
- Match winner: Who will win the match
- Next game winner: Who will win the next game
- Total number of games: The total tally of games played
- Total number of points: The total tally of points played
- Service breaks: The total number of games that will be lost to the player that serves.
For normal and novice players perhaps it would be better to stay in single bets until they get the hang of it. More experienced players may combine their bets to parlays and accumulators and make even more profit. The key now is to pay attention to the odds. They change very quickly and the players need to adjust just as fast.
How are the odds calculated?
We have already discussed how the bookmakers calculate the odds they offer before the beginning of an event. However, the process of recalculating for live betting is quite different and it is time we discuss on the issue.
The fluctuations on the prices offered are progressive. The notion is to reflect the changing circumstance of the event in question. If the case is that the favorite team is on top and leading, then they drop. Sometimes quite sharply. On the other hand, if the underdogs have managed to put their noses in front, then a whole new package breaks loose. Now, aspects like handicaps, the reaction of the favorites when behind, the behavior of the underdogs when in front, each side’s effectiveness, are taken into account.
To cope with it, bookies that offer live betting use odds compilers. They act like betting traders, changing the prices based on the current score and the constant feed of the match statistics. The hard work is done through complicated algorithms that do millions of calculations per second. Without those, it would be quite impossible for live betting to work.
What do the bettors need to do?
As already aforementioned, rule #1 here is to pay attention to the drop or rise of the odds. But is it enough, or are there other rules that also need to be observed? The answer is yes. And here they are:
- Get a precise live stream: The whole point of the exercise is to make informed decisions based on the progression of your event. While it could be possible to observe numbers on a screen and make judgment calls, it is far easier to watch the game itself. But there’s a catch here. The stream must be up to the second. No decisions can be correct if the image is even half a minute old. Keep in mind that live betting is suspended during a critical situation that may result in a radical change of the conditions and the statistics.
- Listen: It is of the utmost importance to listen to those who comment on events. They analyze things on the run and provide important insights. If, for example, you hear “I do not see how one side can do this or that. They do not have this or that, or an important player does not seem to be playing well today” then you can modify your strategies accordingly. Remember that most commentators are either players or managers themselves and therefore, experts in their field.
- Open multiple betting accounts: You may be able to get a better deal on one bookie for one market while another bookie for a different market may offer better prices. This is a matter of the algorithms they use and the speed of updating their offers. Therefore, to maximize the profits a player should have accounts at multiple bookmakers. This presents a number of problems that have to do with handling that many accounts. However, there is a much easier way to do things. You can sign up for a betting software, and let it do all this work for you.
Conclusion
While bettors can make a bundle through pre-match betting, live betting, if practiced correctly, is a much safer way of doing things. It is also a much more exciting way as it gives people the chance to share in the thrills of the event, right when it’s in progress.