In years past, sports bettors who didn’t have all of their wagers in before a game or event got underway were left with no choice but to patiently wait for another opportunity. It’s not like that anymore.
Live betting has burst onto the scene and opened up new doors for bettors to explore. Users can now place wagers in real time as the action unfolds. It’s a fast moving market in which odds and offerings are based on what’s transpiring.
While it started out as a niche part of the sportsbook menu, live betting is now a must-have option for legal and regulated operators, including right here in Michigan. Many handicappers already understand what all of the fuss is about.
However, others remain on the fence or simply don’t know where to begin with it. We’re going to clear up any confusion right here, and also demonstrate how live betting can fit into your overall strategy. First, let’s take a look at the top sportsbooks in Michigan to use for live betting.
What is live betting?
Live betting refers to wagers you can place as the action is playing in real time. Opportunities will vary based on what’s happening in the event. It’s a fast-moving market, so a mobile app is the way to go in order to be able to react quickly.
This is an area of the sports betting industry which has seen a tremendous amount of growth in a short period of time. There are plenty of bettors who make this a big focus of their overall strategy, while others may just pick and choose their spots at certain times.
As with other wagers, the biggest games and events will attract the most action. Live betting makes for a great way to get even further engaged with the contests you are following, but some notes of caution apply.
The sports betting markets move really quick, and you will see lots of offerings pop up. As such, it can be pretty easy to get lost in the excitement and wind up betting much more than you anticipated. Be mindful of this going in and do your best to avoid letting it happen.
It’s helpful to go into live betting with a clear budget in mind. Once you have established your personal comfort level, you can approach live betting with an eye towards being very selective and only wagering on the offerings that you feel most confident about.
Live betting odds
The live betting market moves quickly, and opportunities will vary based on how things are playing out. As a result, there’s no set answer as to what the odds might look like at any point in time.
However, you will see that many of the offerings are similar to what will be available in advance to the contest getting underway. For example, you might see updated odds for the moneyline, point spread and totals.
Many of the other live betting opportunities will look familiar to those who have experience with prop betting. Some of the offerings will be based on the performance of individual players, while others will be team-based or game-specific.
In cases in which there are just two choices to make, then the odds listing will look something like you would find in advance of the event. When it’s a live bet with multiple choices to consider, then it will look something like the futures market or odds for golf or tennis winners.
How to place a live bet
At most online and mobile sportsbooks, there’s a dedicated section for live betting. Once you click on that, the main betting lobby should be populated with the current or upcoming offerings.
You can zero in specifically by sport to find the exact listing you’re looking for. After you have identified the game or event, it’s just a matter of exploring the current offerings and finding the one you want.
Next, you’ll click on the odds for your bet. It’ll be added to the bet slip right away and you can then add your dollar amount and submit.
Remember: these markets move quickly, so odds and opportunities can disappear in an instant. Mobile apps make it much easier to stay on top of the action, but remember to be selective and don’t attempt to bet on every single opportunity that comes up.
Live betting examples
The live betting market moves quickly, and the opportunities that come up will be based on what’s happening in the game. As a result, there are no guarantees on what you might come across for a specific event.
However, there are still some examples we can lean on to get a further feel of how it all works.
Live betting for team sports
You’ll find live betting offered for all of the team-based sports. Here are examples of what you might come across.
NFL live betting
Each game on the NFL docket will attract plenty of betting action, and those who choose to gamble on the NFL via mobile or online platforms will find scores of live betting opportunities to explore. Many of the offerings will be game-specific, while others will resemble prop bets.
- What will be the outcome of the next drive: TD/Field Goal/Turnover/Punt/Downs?
- Which side will hold the halftime lead: Lions or Bears?
- How many total points will the Cowboys score in the third quarter: Over/Under 9.5?
NBA live betting
The average NBA game is chock full of scoring while the action moves along quickly. That translates into hoops meshing quite well with live betting. Opportunities can disappear in an instant, so be ready with your mobile device.
- How many points will Kawhi Leonard score in the second quarter: Over/Under 7.5?
- Which side will have more total rebounds at the half: Pistons or Nuggets?
- Who will reach 20 points first: Celtics or 76ers?
MLB live betting
MLB is a bit slower-paced than the NFL or NBA, but that can be a good thing for live betting. That provides you with more time to focus and think through the range of MLB betting opportunities that will come up over the course of the game.
- Which side will score three runs first: White Sox or Tigers?
- What will be the outcome of this at-bat: Hit/Walk/Out?
- How many hits and walks will the Red Sox get this inning: Over/Under 2.5?
NHL live betting
There are plenty of shifts in momentum during the course of your average NHL game, so that can open up plenty of chances for astute live bettors. As the fastest game on ice plays out, here’s what you might come across.
- Result of power play: Goal/Penalty Kill?
- Which side will score more goals in the second period: Red Wings or Blackhawks?
- How many shots will Penguins take in third period: Over/Under 8.5?
Live betting can also be found for other team sports such as soccer and college football. In general, the more action the game attracts, the more selections you’ll see.
Live betting on individual sports
There are plenty of bettors who focus on individual sports, and even more who jump in the pool when a big event rolls around. Here’s a sample of what will be in store on the live betting front.
Golf live betting
For the biggest golf tournaments, there are usually more than 100 players in the field. Naturally, that translates into plenty of different live betting opportunities to consider as each round plays out.
- What will Tiger Woods card on this hole: Eagle/Birdie/Par/Bogey?
- Who will score better on the ninth hole: Brooks Koepka or Justin Rose?
- How many shots will Phil Mickelson need to reach the green on the seventh hole: Over/Under 2.5?
Tennis live betting
During your average tennis tournament on both the men’s and women’s side, there are scores of matchups to consider in the early rounds. As the event moves on, the tennis action gets tighter. Live betting is there every step of the way.
- Who will score the next point: Roger Federer or Rafael Nadal?
- How many games will the second set take: Over/Under 10.5?
- Will Serena Williams win this set: Yes/No?
NASCAR live betting
In the runup to big NASCAR races, there’s plenty of time to dig in and figure out which driver you think will take it down. As the action is unfolding in real time, you can zero in on more specific instances inside the race.
- Which driver will have a higher finish: Joey Logano or Chase Elliott?
- Who will have the fastest lap at halfway point of race?
- How many drivers will finish the race: Over/Under 36.5?
UFC live betting
There’s just something special in the air when a big fight is one the docket, and scores of handicappers agree. UFC fight cards attract tons of betting action, and you can watch and wager as everything goes down in the octagon.
- Will the fight end in round two: Yes/No?
- What will be the exact outcome of the fight: KO/Submission/Stoppage/Decision/Draw?
- Who will record more strikes: Amanda Nunes or Felicia Spencer?
Tips for live betting
Due to the speed of live betting, it can be challenging to handicap every opportunity that pops up. That doesn’t mean you have to wing it and hope for the best. Here are some strategic tips to keep in mind as you tune in to watch and wager.
1. Focus your efforts
There will be plenty of live betting opportunities to consider. Don’t try to bet on every one that pops up, as that can be a recipe for disaster and quite the bankroll drain. Instead, focus on the offerings you have the best feel for as the action plays out.
2. Have a clear budget
You should treat live betting just like you would any other kind of wagering. Begin with a clear budget in mind of what you want to spend, and have the discipline to stick to it. No matter how appealing opportunities may seem, you have to remember there are no guarantees.
3. Lean on initial handicapping and instincts
The action moves fast with live betting, so research time will be quite limited. For games and events you have already handicapped, lean on what you learned during that time. As the action plays out and momentum shifts, rely on your instincts and overall feel for what’s going on.
Live betting opens the doors to additional profit opportunities, but it’s important to remember to stay disciplined. It can be real easy to get swept away in the excitement, so keep that in mind and stick to the plan and budget that works best for you and your strategy.
Key takeaways on live betting
Live betting is one of the fastest-growing segments of the sports betting industry. This was once a niche offering, but it has evolved into a must-have option for leading sportsbook operators.
These are wagers you can place in real time as the action unfolds and that opens the doors to new opportunities for each game and event you plan to wager on. The markets are very fast-paced, so mobile apps make for the most efficient way to stay on top of things.
The actual offerings and odds are going to vary based on what’s going on, but the unpredictable nature only enhances the appeal for many bettors. Live betting offerings can include bets that look awfully similar to prop and individual game wagers, and can be focused on things from a player, team or game perspective.
Discipline can be key to finding success, as it can be easy to get lost in the excitement and wager more than you were planning. It’s always good practice to approach any live betting session with a clear budget and goals in mind.
Live betting can be very exciting and potentially profitable, but remember to keep your head in the game and stick to the plan you set for yourself heading in.