Live betting is just what the name suggests – betting live during a game on scores or events that happen. It has become a huge part of the global online sports betting marketplace, with as much as 70 per cent of wagering happen after kickoff (or puck drop, or tip-off or the first pitch or whatever events starts your sport).
Also known as in-play betting or in-game wagering, the odds change dynamically all during the game, based on field position, injuries, turnovers and other factors.
How does live betting work in NFL?
Here’s a quick example of how live betting might work in an NFL game. You bet the Chargers -3 to beat the Raiders. That is your pre-game wager. However, on the opening kickoff, the Raiders return it for a touchdown and are up 7-0.
Immediately, the live betting odds will change, probably moving the line back to 0 (or even odds) for the rest of the game. Now if you still have faith in the Chargers to come back and win the game, now you can make a live bet on the Chargers at EV to go along with your pre-game bet of -3.
If the Chargers throw an interception of their first play which is returned for a TD and a 14-0 Raiders lead, the live odds will change again, probably moving to +7 or +10 for the Chargers. If you still believe the Chargers can come back, now you could also bet the Chargers at +10.
Now you would have three bets on the Chargers all at different point spreads. You may win all of them if the Chargers come back to win 30-24 (for example) or none of them if they lose by 30-10 (more than 10 points).