You wake up an hour late for your favorite team’s game and see them down by one point. You were going to bet on them to win, but because you overslept, you worry that you can longer do so. Good news: you can do just that by placing a live bet! Check out more of our introductory sports betting content here. Nevertheless, let’s talking about live sports betting.
What is a Live Bet in Sports Betting?
When it comes to sports betting, bettors have a wide array of options at their fingertips. One key distinction to know is the difference between pre-game bets and live bets. Pre-game bets are bets placed before the game starts, while live bets are placed during the game.
Live betting allows a person to get action on a game even after it has started. For example, if someone missed the opportunity to place a pre-game bet, they can still get in on the action with a live bet. These wagers also allow for more dynamic and fluid betting options, as the odds can shift quickly during a game.
Sharps, or professional bettors, often use live betting as a way to hedge their pre-game bets or to buy low on a team that got off to a bad start. They may also use a strategy called “middling,” which involves getting action on both sides of a bet in a way that allows them to possibly win two bets on opposite sites. For example, a bettor with a $100 wager on the under 54.5 may place a $100 live wager on the over 44.5 for a chance at a larger return.
While live betting can be exciting and potentially profitable, there are also some dangers associated with it. One danger is that sportsbooks often have live data feeds that are ahead of a television broadcast, which can lead to the bettor making a hasty or uninformed decision. Another danger is that sportsbooks often have a higher hold percentage for live markets, meaning the bettor has to overcome a larger disadvantage to make a profit. Finally, chasing losing pre-game bets with live bets can be a quick way to go bankrupt.
Hopefully that answered your question regarding what is a live bet in sports betting.
While you came here to find out about what is live sports betting, the history of gambling in the United States is as storied as it is complex. Gambling on sports has been a popular pastime for Americans since the colonial period, and it was not until the 20th century that it became regulated and eventually outlawed.
In the early days of American sports, gambling was an integral part of the culture. Horse racing, which was one of the earliest organized sports in the United States, was particularly popular among gamblers. As organized sports grew in popularity, so did sports gambling.
In the early 20th century, sports gambling was largely unregulated and often associated with organized crime. In response to this, the federal government passed the Interstate Wire Act of 1961, which made it illegal to use wire communication facilities to transmit bets or wagers across state lines. This law effectively made it illegal to operate a sportsbook across state lines.
Despite the law, sports betting remained popular for many within the country. Fast-forward plenty of years later — to today — and we’ve reached a more accepting society when it comes to legalized gambling. While DFS initially took hold as states (initially) slowly began to pass laws allowing for legalized wagers, traditional gambling is on the rise.
While the initial phases felt like the wild west, as more states continue to legalize betting, regulation is starting to jump to the forefront; though varying state-to-state.
What is a live bet in sports betting? That question has definitively been answered. So while you came here to find out about what is live sports betting, you also got a bit of a history lesson in the process. If you’re still here, and want to take advantage of your knew found knowledge, our best bets tool will help you navigate what is otherwise a tricky market.