What is Live Betting? How does Live Sports Betting Work? Live Betting Strategies

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Andrew CunninghamJune 1, 2022 at 08:10 AM

What Is Live Betting?

Live Betting, also known as in-game betting, is exactly what you would think it is: betting on a game or event while it is being played. 

How Are Live Odds Calculated?

Live odds change as the game is played. Live betting sites use odds compilers to change the lines of the games as it is being played. Odds compilers are basically niche companies that are always running numbers to predict the outcomes of games as they are being played. The sites employ their services to update their lines as the game is happening.

Many Sportsbooks let computer algorithms do the heavy lifting. The program analyzes every event that happens during the game and adjusts the line accordingly.

For you, the bettor, this can be a large advantage as computers can make errors and it can take a sportsbook some time to find the error and fix it. This allows you to take advantage of these mispriced odds with OddsJam’s Live Odds pass.

Why Should I Live Bet?

Now at this point some of you may be asking, “Why in the world would I want to live bet??”

There are actually quite a few reasons someone would decide to live bet on a game. 

You Forgot to Place Your Bets

It happens to the best of us. You had that game with the championship favorites playing the league scrubs on the back end of a back to back, but you didn’t place the bet. 

How in the world are you going to bet on this game you’ve had circled since the schedule came out? Never fear, live betting is here! 

If this happens to you the fix is simple. Just wait for the live line to drop! Typically, unless some major event happens between the first line closing and the live lines opening, the odds will be similar to or even the exact same as the pre-game lines. 

Live Betting Middle

If you have read our article on middle bets then you already know that live betting can produce some amazing middling opportunities. Don’t know what a middle bet is? Check out the article linked above!

Here is another example from the 2022 season, odds courtesy of PointsBet:

In this example the Over/Under is set at 223.5. They have even included a hook so you know there is no chance of this bet pushing. 

Now, let’s say you took the over 223.5 because of the fast paced offenses both of these teams can run when healthy. This game is a run and gun thriller and by the time the game is midway through the 3rd quarter the Over/Under has shifted to 230.5

Now you know there is a middle opportunity. You place a bet on the score being under 230.5 along with your initial bet of the score being over 223.5. The game plays out and the point total ends up being 228. Now both bets have hit!

Live betting, especially if you placed a pre game wager, can lead to many middle opportunities. Along with this you have the ability to see how each team is performing before you place that second bet.

Types of Live Bets

Books are always evolving and changing how they operate. However, these are the most common live bets available across all books that offer live betting:

Soccer Live Bets

  • Home/Away/Draw (1X2)
  • Total goals
  • Total corners
  • Last team to score
  • Yellow/red cards

Hockey Live Bets

  • Moneyline
  • Puck line
  • Total goals
  • Final score
  • Handicap
  • Period winner
  • Period goals

Football Live Bets

  • Moneyline
  • Total points
  • Point spread
  • Player props

Baseball Live Bets

  • Total runs
  • Total hits
  • Total home runs
  • Total strikeouts
  • Total pitches
  • Winning margin

Basketball Live Bets

  • Point spread
  • Total points
  • Moneyline
  • 1st Quarter/1st Half point spread
  • 1st Quarter/1st Half total points

Tennis Live Bets

  • Moneyline/match winner
  • Set winner
  • Next point winner
  • Exact set score

Live Betting Strategies

  • Live odds are always changing – if you see a line you like, bet on it immediately
  • Use live lines to middle or hedge a pre-game wager
  • Take advantage of momentum swings – for example in NBA games it is not uncommon for a team down 10+ points early to come back and win
  • Know what type of live bets your books offer so you’re not stuck being unable to hedge or middle a pre-game wager
  • Know which books offer live betting. Not all of the books offer live betting. Here is a list of books that DO have live betting markets 
    • FanDuel
    • DraftKings
    • PointsBet
    • BetRivers
    • Barstool 

As you can see, there are so many advantages to live betting! This is just yet another tool in your tool belt that can be used on your path to becoming a sharp bettor. So go on, get out there, and make some money live betting!

Check out also our other betting strategies guides:

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