One of the fastest-growing trends in the sports betting industry is live betting. In this guide, we explain the risks and returns to prepare you for the Super Bowl this Sunday.
Understanding Live Betting
Before the game, a sports book or casino sets odds for the outcome of the game. We’ll use the Super Bowl as an example. The Chiefs open up as a slight favorite as shown in the pregame spread:
Over the course of the game, the “live” spread will shift depending on how the game develops. For example, if the 49ers go up 7-0 in the 1st quarter, the spread will move to reflect their 7-point lead:
Live bets can be placed at stoppages in play, such as during a timeout or a commercial break.
Advantages of Live Betting
Live betting can be a valuable strategy if the team you wish to bet on goes down early in the game. If you believe Mahomes and the explosive Chiefs offense will quickly erase the 7-point deficit and go on to win, you can live bet their +2.5 spread after the 49ers score their first touchdown.
Additionally, live markets provide more betting opportunities. An example of a unique market is:
Who will score the next touchdown?
Tyreek Hill +350
Travis Kelce +400
Raheem Mostert +500
Damien Williams +600
More betting types means more chances to exploit valuable odds.
Be Smart And Responsible
Live betting produces quick wins, as well as quick losses. Because there are constantly new events to bet on throughout the game, it is easy to start “chasing your losses” if you first couple bets go south.
A responsible strategy is to set a monetary limit allocated to an individual game and holding yourself to that limit. If you can stick to that strategy, live betting will provide much more entertainment than frustration.
Speaking of entertainment, make sure to enter (for free!) the Action 247 Big Game Challenge for a shot at a $1,000 payout.
And for more, check out last week’s guide covering prop betting.