Betting 101: Live Betting
Most bets are placed before the event begins, but what about as the game is happening? Enter live betting, which allows bets to be placed while the game is going on.
Live betting, like the stock market or your mother-in-law’s opinion of you, varies greatly and rapidly based on the circumstances.
Depending on how the game is going, the fluctuations in point spread, moneyline and point total odds could be drastic, giving an opportunity to take advantage of a live bet or hedge the original bet.
Odds Adjustment: During the game, the odds are constantly changing for any open live bet. While any sporting event can change at a moment's notice, the sportsbook tends to keep all odds negative to protect themselves from sudden unexpected changes to the game's outcome.
Hedge: A hedge bet is a strategy that involves placing a second bet that goes against a previous bet.
Sometimes when the original bet's outcome is still undecided, a hedge can be played, directly opposing the original bet. This lessens the value of the original bet’s profit, but guarantees a small profit regardless of outcome.
Ex. Before the game used above started, you placed a $100 bet on the Celtics moneyline at +150. You stand to profit $150 from that original bet.
Now, you place a live bet on the Miami Heat moneyline for $50 which would gain you $225 in profit if your bet hits, securing profit regardless of the game’s outcome.
If the Celtics win, you profit $100 total dollars ($150 original Celtics moneyline profit minus $50 hedged Heat moneyline losses). If the Heat win, you profit $125 total dollars ($225 hedged HEat moneyline profit minus $100 original Celtics moneyline losses).
Middle: A middle is a rare opportunity where a hedge bet is placed that opposes the original bet but allows for a small chance at winning both bets.
Ex. Before the game used above started, you placed a $110 bet on the Celtics point spread at +3.5 for -110 odds. You stand to profit $100.
Now, the live betting point spread line has fluctuated and you place a $30 bet on the Miami Heat point spread at +13.5 for -120 odds. You stand to profit $25.
You have successfully given yourself a 16-point middle. If the game ends and Boston has won or lost by 3 points or less and Miami has won or lost by 13 points or less, you win both bets and profit $125.