It’s 2022 and the global sports betting industry has already hit a size of $231 billion, according to statistics on the website of consumer and market data company Statista. Many countries offer legal sports betting for their citizens, but not all. One of the more recent has been the US, which legalized sports betting in 2018, and this has had a massive impact for the better on the growth of the industry. Experts predict that sports betting revenue in the States will grow to as much as $10 billion by 2028.
One popular type of sports betting is in-play betting, in which punters can place bets on an event in real-time. This hasn’t always been the case, however, and originally started around the 1990s. Bookmakers would take bets over the phone from punters while the event was still happening.
Of course, betting on live events while they’re still ongoing has its upsides and downsides. Below is a look at some of the sports on which you can place a bet during the action, plus some of the pros and cons of doing so.
Sports on Which it’s Possible to Place Wagers as the Action Occurs
Sports betting has become so popular that there are lots of different sports in which it’s possible to participate in some in-play betting. Tennis, football, and horse racing are all straightforward options, the former two offering plenty of time for in-play players to assess the action and decide how they want to lay their money down.
When placing an in-play bet, a lot of service providers will provide a live stream of the event so you can follow everything that’s going on and make an informed decision. Many will also publish live stats from the game to assist you in your decision-making. Then it’s a question of selecting your bet, adding it to your slip, entering how much you’d like to bet, and then clicking on the button to place your bet. It’s worth knowing that the odds are constantly updating to reflect what’s happening in the event.
The Advantages of in-Play Betting
In-play betting offers players some major advantages that may make them choose this style of betting rather than placing their bet before the game. Here’s a look at some of those advantages:
When you bet before the game, the odds aren’t as good, whereas once the game starts, and depending on how the game progresses, the odds can improve. For instance, if, in a football match, Liverpool was playing against a team such as Fulham and you were backing them before the game because they’re the heavy favorite to win, the odds would be short. If you wait until the game starts and the Merseysiders’ opponents put the ball in the back of the net first, their odds will lengthen.
It’s better to make a bet before the game, however, if you’re betting on an underdog. If they’re in the match, the odds will shorten. If they start to win, they’ll reduce even more.
More Informed Bets on Events
One of the greatest advantages of in-play betting is the opportunity to make more informed bets. Placing a bet before the event begins carries greater risk, whereas in-play betting enables you to bet from a position of greater knowledge.
At the same time, you also have the flexibility to change your betting strategy during the event, whereas if you bet beforehand, all you can do is wait and hope the team, player, or whatever other element you have backed starts to turn things around in your favor.
Disadvantages of in-Play Betting
Of course, before you start taking part in in-play betting, you should enter the activity with your eyes wide open. That means understanding the disadvantage as well before you place a bet.
Stressful Nature of in-Play Betting
The fast pace of in-play betting itself can become stressful. Don’t forget that odds are shortening and constantly lengthening as the action unfolds, so you have to be quick to make your bet before they change again. A speedy internet connection is essential to help you make the most of in-play betting.
Changing Nature of Odds
Just as the odds might be better in play, they can also get worse. If, for instance, a side has good odds to win and takes the lead just before the end of the game, the in-play odds could plummet instantly. As a result, you may end up betting on a winning side that has worse odds to win than it did before the start of the game.
Potential for Impulsive Bets
It’s always important to be careful and exercise self-discipline when in-play betting. Some bets can be made impulsively, and, as a result, the player is more likely to lose because they’re letting their emotions drive them when they make a bet. Always keep a cool head when placing an in-play bet. If you’re not in control of your emotions, don’t make a bet. This is one aspect of betting before an event that is more advantageous because it allows you more analysis time.
Sports betting is huge. One type of bet you may consider placing is an in-play bet. This type of betting is highly exciting, but it’s important to be aware of both the advantages and the disadvantages before participating so you can get the most out of it.