Each bettor has its own strategies to try and obtain the best performance on his bets. There are those that prefer to analyse every possible data before the start of the match, and those that prefer to take into consideration the statistics, but then operate when the match is taking place.
Live betting: The pros and cons of betting during the match
This is, without a doubt, a very wide topic, and that depends on a lot of aspects for a bettor to succeed or fail on this betting model. Just like the name suggests, live bets (some bookmakers will utilize the term in-play or live) are the ones made while the events are already going on.
Well, each match has an infinite number of options to bet on when the match starts, in any sport. The great question is knowing how to differentiate the pros and cons of live betting.
• Understanding the oscillation of the odds
I believe that this is the first big concept that every newbie bettor should understand. The odds suffer several changes on the bookmakers when the match is ongoing and knowing how to “read” the lines is something that requires practice and study.
Before the start of the event, we are able to gather a series of data to analyse and that helps us making our decision.
When betting “live”, those odds suffer variations, due to several aspects that occur at any given moment during the match: time, attitude of the teams/players, weather conditions, performance within the match, etc.
In some sports, that happens even quicker, such as tennis and basketball, for example.
As time goes by, the moneyline odds change, as well as the goals’ lines, points, handicaps, etc.
The danger is on the anxiety. That will to grab a line before it goes down, without taking into consideration what is going on in the match.
• Controlling your psychological state
The psychological state of the bettor is what will determine if he will be successful on live betting or if he will be bankrupt in just a couple of days.
The infinite number of markets available makes most bettors get greedy and choose several types of bets.
The big problem is when these choices don’t work out well at first and the natural reaction becomes looking for another bet to cover the previous losses.
Accepting that you can’t always get it right is the first step to become stable in this unstable world.
Understanding that one mistake is better than several mistakes is always also something to keep in mind.
Knowing how to deal with a losing bet and only trying to look for that bet that seems really solid regarding your analysis.
When I say this, I mean you should analyse the odds and bet responsibly, and not make several random bets, looking to recover what was already lost or being greedy wanting to win more…
Several bookmakers offer cashout for live betting.
The cashout is a tool that gives the bettor the opportunity of closing the bet before the end of the event. Depending on how the match is going, with profit or loss.
Just like I’ve mentioned the odds’ oscillation, you can also use this in your favour.
If you made a good analysis of the match, or in-play, and you’ve managed to grab a line that was successful, this option will be attractive for you.
Personally, I never utilize cashout with loss.
That’s because that bet can still be a winner, and that is even worse than completely losing our stake.
Cashing out on a profit only if our selection is on its way to be a winner but the risk of the match is too high not to cashout.
• Covering your bets
A lot of bettors try to use live betting to cover the initial lines that they chose before the start of the match.
For example: betting on Barcelona to win against Real Madrid, and after Barcelona scores, betting on the double chance favouring Real Madrid.
In this case, the expectation is ensuring some profit in any of the outcomes of the match.
It can be called trading, but it is very simple: you don’t always manage to do this sort of thing without having losses.
A lot of times, people do that because of how risky the bet is. And they are looking for a different way to “cancel” or look to find profit on the 2nd bet. Other examples include betting on points’ overs and live betting the under.
That sort of thing only works out if your initial line is in advantage, otherwise, maintain your analysis and root for it, in order to avoid a bigger loss of your bankroll.
• Trust your analysis and don’t reduce your chances
Personally, I believe that this is the best tip I can offer.
I’ve already lost a lot of money by not trysting what I’ve analysed initially and ended up making a series of bets afterwards to try and profit on several markets at the same time.
If you focus on the match, analyse what’s going on and reach a conclusion about what could happen afterwards, trust yourself!
It won’t always work out well, but most of the times the match will follow that natural trend and you will succeed in the long term.
I would end up diminishing my chances of banking a profit because I placed several bets on the same match, in different markets.
That is tempting, to root for several possibilities, with each thing that happens in the match potentially being good for each of our different bets.
In reality, you are reducing your chances of being in profit, and on a match where your initial analysis is completely off, your losses will compromise your bankroll.