The best online sportsbooks offer a wide range of live betting options on thousands of sporting events each week.
You can watch the opening stages of a game, assess how both teams are shaping up, and make informed live betting decisions. The top sports betting apps enhance the experience by offering live streaming, in-play stats, micro betting, and other value-added features.
This guide explains how to place live bets. We will break down the common types of live wagers, discuss the pros and cons of in-play betting, and provide our top tips to help you succeed.
What Is Live Betting?
Live betting simply refers to placing a wager on a sporting event after it has started. The leading online sportsbooks will update the odds on various markets throughout the game.
You can often continue betting until the closing stages of the event. However, you need to move quickly, as the odds and lines can change rapidly while a game unfolds.
Common Types of Live Bets
You will find a huge selection of live betting options at elite online sportsbooks like bet365, BetMGM, DraftKings, and FanDuel. They fall into four main categories, which we have explored below.
These are the most popular sports betting options. Straight bets include these markets:
- Moneyline: A simple prediction on which team will win a game.
- Spread: Predict who will win the game after the supposedly weaker team is given a handicap.
- Total: An Over/Under prediction on the number of points, runs, or goals that will be scored during a game.
You can bet on each of those markets prior to the game. When the game begins, sportsbooks will begin updating the odds and lines on those markets to reflect the score and the general momentum of the game.
Proposition bets are generally independent of the result. Here are some examples:
- A player to score the first touchdown in an NFL game
- A quarterback to throw Over/Under 279.5 yards
- The first team to reach 10 points
- The highest scoring quarter in the game
- Whether there will be a two-point conversion during the game
- Whether overtime will be required
The leading sportsbooks allow you to continue betting on some of these markets while a game is taking place.
These bets combine two or more predictions to form a single wager. For example, you could bet on the Kansas City Chiefs to beat the Baltimore Ravens, Over 46.5 points in the game, and Patrick Mahomes to record Over 275.5 passing yards.
All three predictions would need to be correct for the bet to pay off, so same-game parlays are risky wagers. However, these bets can lead to large payouts if you make astute picks, as the profit earned from each correct prediction rolls over to the next leg, causing your profit to snowball.
Some of the best online sportsbooks allow you to create same-game parlays while a matchup is taking place. They often provide pre-built same-game parlay suggestions, which you can place by quickly tapping the screen a couple of times.
Micro betting is a relatively recent phenomenon that allows you to bet on minor aspects of a live sporting event in real-time. For example, tennis fans can bet on the result of each point, and football bettors can wager on the outcome of each down.
These are some of the other micro betting options you might find:
- How fast will the next pitch be in this baseball game?
- Will a goal be scored in the next 10 minutes of this soccer match?
- Will a throw-in be awarded in the next minute?
- Will a golfer hit the green off the tee at this hole?
- Will a tennis player hold serve in this game?
How To Bet on Live Odds
The best online sportsbooks make it easy for you to bet on live games. First, you will need to create an account and make a deposit. Follow these steps to get started:
Create an Account
Find a legal online sportsbook in your state and click the link to visit that site. Open the registration form and enter some basic personal details: name, address, phone number, email address, date of birth, and last four SSN digits.
If a bonus code is required, make sure it is displayed in the relevant box on the registration form. For example, TODAY unlocks the best welcome bonus at BetMGM. Accept the terms and conditions, select marketing preferences, and submit the form.
Verify Your Account
The top online sportsbooks verify most new players automatically. If the system cannot validate you, upload the requested documents. They will be reviewed by a staff member, and your new account will be approved manually.
Make a Deposit
Visit the cashier page and choose a payment method. Enter the amount you would like to deposit. The minimum deposit is usually either $5 or $10.
Enter your payment details and confirm the deposit. The funds should arrive in your account immediately.
Download the App
You can place your first live bet on the website, or you might prefer to download the app. If so, search for your sportsbook on the App Store or Google Play and tap the download or install button.
Confirm the free download and return to your phone’s home screen. Open the app and log in with your email address and password.
Place a Live Bet
Visit the live betting section of the online sportsbook, which will be clearly signposted at the top of the homepage. You will see details of the biggest live sporting events at that particular moment in time, along with a list of sports in which you can place live bets.
Select a sport and a league, then choose a game or sporting event. You will see a broad range of live betting markets and may also notice the odds updating in real time.
Find an appealing betting option, and then click or tap on it. The pick will pop up on your betslip. Enter the amount you would like to risk, and you will be shown the potential profit available. Tap or click to place the live bet, and you’ll be paid out after the game if it wins.
Pros and Cons of Live Betting
There are several clear advantages to live betting, but we have also highlighted a few potential drawbacks to keep in mind.
Pros
You can make educated betting decisions after watching the opening stages of a game and getting a feel for how each team or player is performing. The best online sportsbooks offer a broad range of unique live betting markets, such as the outcome of each drive during a golf tournament. You are more likely to find mispriced markets and weak lines while betting in-play, as the oddsmakers are reacting to developments in real time and they can make mistakes.
Cons
You often need to move quickly when betting in-play, as the odds and lines can change in an instant, causing you to miss the opportunity. Bettors have less scope to shop around for the best odds and lines when betting on live events, so it is important to sign up with sportsbooks that offer competitive odds. Some sportsbooks take a larger house edge (vigorish) on their live betting lines compared to their pre-game betting lines.
Live Betting Strategies and Tips
These tips can enhance your live betting experience and improve your chances of success at an online sportsbook.
Make Sure Your Internet Connection Is Strong
It can be highly frustrating if you miss the opportunity to place a live bet when your WiFi unexpectedly goes down. If you are serious about live betting, make sure you have a strong, reliable connection.
We also highly recommend registering with a dependable online sportsbook. Some sites and apps are prone to glitches and crash at the worst possible times, so stick to the top sports betting apps recommended by our experts.
Shop Around for the Best Odds
Prior to the game, you can take the time to compare the odds at all the online sportsbooks in your state. You can then place your bet at the site or app that offers the best odds on your pick.
That is not necessarily possible when you are betting on a live game, as you must act fast before the odds and lines change. However, you should generally have enough time to quickly compare the odds at two or three leading online sportsbooks before making your live bets.
This requires you to hold accounts with each of the sportsbooks. However, it only takes a couple of minutes to register with the best sports betting apps, and signing up with multiple sportsbooks ensures you get all the best welcome bonuses in your state.
Consider Betting on the Favorites if They Fall Behind
You can often find attractive odds and lines on strong teams if they fall behind in the opening stages of a game.
For example, let’s say the Chicago Bears are the 4.5-point favorites to win an NFL game, but you think they will only win by approximately 3 points. If they make a slow start to the game and concede an early touchdown, they might be repriced as 1.5-point favorites or perhaps 1.5-point underdogs in the live betting.
At that point, you can consider betting on them to turn things around. There is still a long time for them to recover and win the game, and you will be placing your wager at more favorable terms than the sportsbook offered prior to the game. This is by no means a foolproof strategy, but it can be a great way to unlock value on strong teams.
Hedge Pre-Game Bets
Look out for opportunities to hedge your pre-game bets and lock in a profit regardless of what happens.
For example, let’s say you placed a $100 pre-game bet on the Arizona Diamondbacks to beat the Boston Red Sox at +110. The Diamondbacks then make an excellent start to the game, and you find that the Red Sox are now the +200 underdogs.
At that point, you might consider hedging your pre-game wager by placing a live bet on the Red Sox. A $70 wager on the Red Sox at +200 would ensure you earn a $40 profit regardless of who wins.
Resist the Temptation To Cash Out Your Bet
Most sportsbooks will offer you the chance to cash out your live bets before a game ends. This can be tempting for two reasons:
- If your bet is on course to win, but you fear that the team will fall apart in the closing stages of the game, you can lock in a guaranteed profit.
- If your wager looks as though it may lose, you can claw back some of your bet amount by cashing out the bet.
However, most sportsbooks offer unattractive early cashout offers. If your bet is on course to win, you will earn a significantly larger profit by holding on until the end of the game. Cashing out has a negative return on investment (ROI) in the long term, so it should be used judiciously.
Hedging is typically a better way to lock in some profits or mitigate against potential losses, as it gives you more control.
Live Betting Odds Example
Live betting odds will be displayed in the American format at online sportsbooks. They will either be positive or negative. Here is an example:
- New York Mets to beat San Diego Padres (+120)
- San Diego Padres to beat New York Mets (-140)
If the odds are positive, they tell you how much profit you would receive from a $100 bet. In this example, a $100 bet on the Mets would net you a $120 profit.
When the live betting odds are negative, they explain how much you need to risk in order to earn a $100 profit. In this example, a $140 bet on the Padres would deliver a $100 profit if San Diego won the game.
You can choose any bet size you like. The numbers are just a guide. For example, a $10 bet on the Mets would net you $12, whereas a $10 wager on the Padres would net $7.14. That smaller potential profit on the Padres tells you that San Diego is the favorite.
More Resources for Live Betting
We offer a variety of resources to help you succeed at live betting. Here are some of the best online gambling tools that you can use:
- ROI Calculator: Figure out the projected gains from a bet to determine your potential return on investment. This can help you decide whether to cash out.
- Arbitrage Calculator: Determine whether betting on both sides of the same live bet at different online sportsbooks will lock in a guaranteed profit.
- Kelly Criterion Calculator: Understand how much you should ideally wager in a bet based on the probability of winning.
Live Odds FAQ
Live betting can certainly be worthwhile if you make astute decisions. The basic premise is to watch the opening stages of a sporting event, assess how each team or player is shaping up, and make informed decisions about how it will end. However, using a regulated sportsbook that offers competitive live betting odds is important.
Yes, most online sportsbooks allow you to cash out live bets before a game ends. If your bet is on course to win, but you fear the team will crumble before the end of the game, you can hit the “Cash Out” button to lock in a guaranteed profit. However, your payout will be reduced, so it often pays to wait until the end of the game instead.
Some sports fans prefer live betting, as you can place your wagers from a position of strength after watching part of the game. However, you need to move quickly to grab attractive odds before they change, and it also offers less scope for line shopping.
Live betting is legal in more than 30 states. You can place live bets via apps and websites like bet365, BetMGM, and FanDuel. Players need to be 21 or older to place live bets on sports events in most states, but the legal age is 18 in Kentucky, New Hampshire, Rhode Island, Wyoming, and Washington, DC.
Yes, FanDuel offers live betting on hundreds of sporting events each day. You can place live bets via the FanDuel Sportsbook app or the website. Other leading sportsbooks that offer live betting include DraftKings, BetMGM, bet365, and Caesars Sportsbook.
Yes, you can place live bets in-person at a retail sportsbook. However, you may need to wait in line to use a self-service kiosk or place a wager with a cashier, and the odds or the lines could change by the time you place your bet. For that reason, most live bettors use apps or websites.
About the Author
