Last year, the sports betting industry was valued at over 85 billion US dollars and it is still set to grow as more and more places worldwide embrace this form of gambling. In the United States, sports betting has been deemed federally illegal until May 2018 when the Supreme Court of the US has finally stricken down the Professional and Amateur Sports Protection Act or PASPA of 1992. With this, each state is now allowed to locally regulate sports betting if they wish to.
Currently, there are now over 20 states in the US that have legal sports betting and more states are soon to follow. Other countries like the UK and Ireland has always been a fan of wagering on sports. Not only sportsbooks but also the best online casinos in these countries would offer sports odds as this is an activity well-loved by many.
What In-Play Betting is About and How it Works
Now, there is a way of betting that is greatly enjoyed by many punters and it is called in-play betting. Some people would call this in-running or live betting and what it simply means is betting on a match as it progresses. You get to place your bets as a match happens.
This way of wagering on sports is predominantly an online gambling activity but there are still a few betting shops that would offer this. Some bookies accept in-game bets over the phone, but if you’ve done this before, you’ll know that this is best played online.
Like betting on sports traditionally, in-game betting would also allow bookies to offer different types of odds. The probability of the in-play event occurring will come from an algorithm from the sports wagering app or software developer.
The bookie would input their desired edge to the algorithm’s probability. Odds are then computed and offered to the customers via the website of the app.
What to Consider When Betting In-Game
What you should know about in-play betting is that you have to be quick in making decisions. Most of the time, you will only have a few seconds to place a bet before the odd is gone. Typically, in-game odds are only available for 10 to 20 seconds.
It takes quite a preparation before you get into this. It’s always better that you already know traditional betting before transitioning into this type of betting. Before the game starts, you need to know how the teams are doing and also somehow predict what odds will be offered by the bookies.
You also have to make sure that your betting account has enough funds so that you wouldn’t be bothered by this anymore while the game is in progress. You only need to think of what you should bet on and what odd you should give a pass. If you’re used to this type of betting, you can also do this on multiple betting sites or apps.
Betting in-game is also usually the go-to of punters who weren’t able to place bets pre-game. There are also multiple betting options that bookies would offer during the game. Some of these are point spreads, money lines, alternative point spreads, and totals.
What’s great about in-play betting is that since the odds and data are updated in real-time, the odds are generally fair. Still, it’s best that you shop around for bookies before you settle into one before the game starts. Each bookie would still offer different odds even if they release these odds simultaneously and even if these bookies are using the same software. Remember that the bookie themselves are still the ones who would input the house advantage is where they will all differ.
Overall, when it comes to the popularity of in-play betting, the vice president of trading for Don Best Sports said that more and more people are getting into it. In Europe, more wagers are taking place during the games themselves as well.
Meanwhile, in Nevada, in-play wagering accounts for less than 20 percent of the Nevada betting handle. For William Hill, in particular, they reported that in-play betting accounted for 22 percent of the handle in 2017. This is still quite small but this will likely grow this year especially that there is a pandemic.
Now that the majority of the major leagues are still closed to audiences, people have no choice but to watch matches in their homes. This means that they have more time and focus to get into in-play wagering. Luckily, online streaming makes this possible as games or matches can now be broadcasted without any delays.