Guide to Mastering Live Betting
The world of sports betting is a complex and thrilling environment, and none more so than the exhilarating realm of live betting. Live betting, or in-play betting, offers a dynamic and exciting approach to sports betting where odds are updated in real-time as the game unfolds. With the advent of technology, using a live betting app has made this process more accessible, convenient and engaging than ever before.
This comprehensive guide aims to help you navigate the fast-paced world of live betting, providing you with strategies and insights to master this form of wagering. Buckle up, because we’re about to dive deep into the heart-pounding action of real-time sports betting.
Deciphering the Australian Legal Landscape
Before delving into the intricacies of in-play or live betting, it is crucial to elucidate the position of the Australian Government on this subject. The Australian Interactive Gambling Act 2001 (IGA) deems it unlawful to extend or promote ‘real money’ online interactive gambling services to Australian citizens. The definition of ‘interactive’ encompasses live sports betting, a provision that has caused contention among Australian bookmakers. This legislation is applicable to all online operators, irrespective of their ownership or licensing within Australia.
However, the onus of compliance with the IGA lies with the gambling providers, not the individual Aussie punters. An Australian resident is not contravening any law by partaking in live online betting.1 Many overseas betting providers either overlook or are oblivious to the IGA, persisting in offering live betting to Australians. As per current regulations, Australians are permitted to engage in live betting activities facilitated by foreign providers, as any infringements would result in penalties for the betting operator, not the bettor.
Online Live Betting Scenario in Australia
Currently, prominent Australian bookmakers do not extend the facility of live online betting to Australian residents, though this service is commonly provided by most international agencies. An evaluation of betting agencies that cater to AUD accounts and provide live online betting services revealed 10Bet.com and Stan James to be superior contenders.
Interestingly, while live betting has yet to gain substantial traction in Australia, it holds significant sway in the European betting market. As per insights from Betfair, cricket, tennis, and soccer live betting represent 90% of placed wagers, underscoring the vast popularity of live betting in these regions.
Live Betting versus Pre-Game Betting
On initial inspection, live betting might seem more manageable than pre-game betting as it allows bettors to make decisions informed by the ongoing game. This real-time wagering method gives you the flexibility to alter your stance or secure a profit if the game progression is in your favour.
However, one must note that live betting often sees higher bookmaker margins. Take, for example, pre-game NBA line bets on bet365, priced at 1.90 odds, while the in-play NBA line bets generally hold 1.83 odds. This indicates a bookmaker margin of 109.3% in contrast with 105.3%.
It is common to experience a steeper initial learning curve with in-play betting as compared to pre-game betting. Nevertheless, with time and practice, many bettors end up establishing a more successful in-play betting record than their pre-game history.
A word of caution for in-play betting enthusiasts – odds can vanish suddenly. You may choose your odds, determine your stake, and attempt to place the bet, only for it to be declined due to a change in odds. Most bookmakers enforce a delay in accepting bets, and if the odds shift during this delay, your wager will be rejected.
This situation can be highly frustrating, especially if you spot a valuable opportunity following a recent game event, only to get your bet declined. The world of finance betting is a notable exception, where bets are typically accepted instantaneously.
Mastering Live Betting: An Expert’s Guide
Live betting infuses the world of sports betting with thrill and complexity, introducing real-time decision-making that can be both exhilarating and overwhelming. To help you navigate these uncharted waters, we have compiled an array of professional tips aimed at enhancing your live betting proficiency:
- Start Small: Jumping headfirst into live betting can be risky, so ease into it by placing minimal wagers initially. This provides an opportunity to learn the ropes without incurring significant losses.
- Track Your Progress: Keeping a meticulous record of your betting performance can be enlightening. Make use of an Excel betting tracker to objectively evaluate your in-play betting results against your pre-game betting history.
- Act on Strong Opinions Pre-Game: If a particular outcome seems highly probable to you before the game begins, don’t hesitate to place your bet then. Pre-game margins are generally lower than in-play margins.
- React Rapidly: Live event odds can fluctuate rapidly. To maximise your gains, it’s crucial to act swiftly on any significant game events that could shift the odds in your favour.
- Pre-Select Your Wagers: To expedite your betting process, consider pre-selecting your bets and entering your stake amount in advance. If the game’s progression suddenly renders a bet advantageous, you’ll be ready to place it immediately.
- Develop Expertise: Given the higher bookmaker margins in live betting, it’s advisable to specialise in a few sports. Thorough familiarity with a sport and its typical odds changes can boost your chances of consistent success.
- Plan Ahead: Formulate a strategy before the game begins. Establish criteria that regulate when and how you place your bets depending on the game’s evolution.
- Consider Counter-Bets: If your initial wager seems increasingly unlikely, don’t hesitate to place an opposing bet. This may result in a guaranteed loss due to bookmaker margins, but the loss could be smaller than if the initial bet fails.
- Avoid Chasing Losses: Trying to quickly recover your losses is a risky strategy that can drain your account balance. Instead, exercise patience and discipline, focusing on improving your current account balance.
- Avoid Immediate Win/Loss Bets: While betting on who scores the next point might add excitement, such markets often favour the bookmaker heavily. Instead, focus on end-result betting, which generally offers better value.
Remember, a successful punter is not just about making successful bets, but also about making successful decisions.
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