Betting 101: Live Betting
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 itself 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 the 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.