Live betting or in-game wagering has been available to gamblers since the late 1900s. This is when bookies would take bets in person from customers while the game was in progress. However, it did not become mainstream until 2002, when online sportsbooks began to offer it. Today, many gambling experts believe Live Betting is the Future for Sportsbooks and gamblers.
Even though in-game betting was an overnight success for sportsbook, it did not catch on everywhere at the same time. Europe became the first continent that saw a huge increase in Live Betting. As live betting platforms became easier to obtain, so did its popularity in the Americas and around the world.
Today, live betting is fairly common because of the internet and the advances in technology. This is because without sports betting software or apps the logistic of live betting would be a nightmare. Just imagine, hundreds of thousands of customers having to calling at the same time to make a live in-game wager.
For online bookmakers and sportsbooks, ever since live in-game betting blew up, so did their sports betting handle. In fact, some bookies are seeing live wagering making up as much as 70% of their total number of bets.
Live Betting is the Future for Sportsbooks but not for the Weak of Hearts
Generally speaking, sports betting adds extra excitement to a game but live wagering adds somethings special to it. This is because players place their wagers as the action unfolds leading to a world of possibilities.
The majority of live bets are prop bets and they happen very fast. Therefore, sports bettors need to be fast on the uptake and make split-second decisions. This is because most live bets are only available for a short period of time with odds that rapidly change. For example, an NFL live bet could be to see which player will tackle the quarterback in the next play. In golf, gamblers could be on a golfer’s score after the next hole.
With these types of bets, a gambler only has minutes and sometimes only seconds to place their bets. That is not a long time to process the wager and their odds of winning it. Furthermore, for people new to sports betting, live betting is easier to understand. This is because they do not have to learn about spread betting, money lines and total betting. Instead, it’s a bet they can understand like which team will commit the next foul or get an injury.
For sportsbooks, it allows them to take wagers even after the game has already begun and increase profits!