Guide to Live Sports Betting in Michigan
One of the latest and greatest innovations to hit sportsbooks in recent memory is the ‘live betting’ feature. This option allows sports gamblers to wager on sporting events even after the game has begun. That’s right, no more missing out on a wager after the tip-off, kick-off, puck drop, or first pitch.
All games are available to bet on at all times now and, as you can imagine, this has been a very popular feature in sportsbooks. So popular in fact, every sportsbook carries some form of live betting.
However, just like any wager in the sportsbook, to be successful with live sports betting, you need to know how it works. Here we explain every aspect of live betting to help you be as successful as possible.
What is live/in-game betting?
Originating in online sportsbooks but now available everywhere, live betting, or ‘in-game betting’, is a totally new way to wager on sports. As mentioned, live betting allows sports bettors to wager on games that have already begun.
Once a game has started, new odds, lines, totals, and point spreads for the game constantly update as the scoring goes up and the clock winds down. It is an exciting new way to gamble and comes with its own set of rules, advantages, and strategies.
Live betting guide
For example, let’s look a betting on an NFL game where the Kansas City Chiefs are seven-point home favorites over the Pittsburgh Steelers. The over/under is set at 46, and the moneyline finds the Chiefs at (-250) and the Steelers at (+300).
After a week’s worth of hype and wagering, these are the final lines and odds. Then, the ball is kicked off, the game begins, and NFL live betting becomes available.
On the very first play of the game, the Steelers score a touchdown and an extra point. With such a quick score, live betting updates the odds, and now the Chiefs are only 5.5-point favorites, the over/under jumps to 50, and their moneyline adjusts to (-180).
Sports gamblers can now wager on these new live betting odds until they change again, and, as the game goes on, they are sure to do just that. With every score and minute that passes, the odds adjust again and again, allowing gamblers to grab different lines or odds as the game continues. The final score is Kansas City over Pittsburgh 28-21.
So, with this final score, different wagers have come in, and your success all depends on when you wagered. For instance, if the total finishes at 49 and you had the over before the game started, you’d win.
However, if you took the over at 50, you’d lose the wager. This applies to the point spread as well.
The seven points before live betting is a push, but the -5.5 during is a win. It’s these drastic line and odds movements that make in play betting so exciting.
Best live betting strategies
Live betting is a completely new way to wager on sports and, therefore, requires new sports betting strategies. As the example above shows, the lines and odds can move very quickly, and this changes the way sports gamblers must approach their wagering.
Plus, consider sports such as basketball where the scoring is constant, or hockey where the clock never stops running; you must be quick to place an in game wager.
You need a strategy, and here are a few to consider before live betting your next wager.
Find your number
One good way to use in play betting to your advantage is to find the number you want. Very often, sports gamblers will be looking for a number before placing a wager, whether it is a point spread, an over/under, or a moneyline.
Maybe the line is at 6.5, but they would bet it at seven. Via live betting, the lines and odds change so much, getting the number you want is often very doable.
Hedge your bet
By far, the best use of live betting is hedging your bets. Hedging is a way to minimize any loss, and you can do this by using live betting.
For instance, if you have a $50 bet on the Pittsburgh Steelers to win +7 points, but see they are down by 21 in the third quarter, you can lay a live bet to minimize the loss. This is a great aspect of live sports betting. You may not be able to win all your money back from the original wager, but you can certainly minimize the damage.
Spot the comeback
Often in games between a heavy favorite and a big underdog, the underdog will jump out in an early lead. This happens a lot in college games (football or basketball), and/or between two rivals.
In moments like these, in play wagering is a perfect opportunity to find great odds and lines. Before the game started, the favorite was giving double-digit points. However, when the game began, and the underdog opened up a big lead, those double-digit points disappeared. This is when you would spot the comeback and load up on the original favorite via live betting.
After all, favorites are favorites for a reason, and the better team usually wins. Thanks to live sports betting, you can get the favorites at the best odds.
Top live betting sites in Michigan
As mentioned, every online sports gambling site and brick-and-mortar sportsbook will have a live betting option. It is such a popular innovation, there’s just no way around it for sportsbooks.
Live betting is a must-have these days. However, this does not mean all live betting options are the same, especially online.
First of all, you need a site or sportsbook that allows for as many games as possible for live betting. Some sites and sportsbooks will limit their selection, and these are to be avoided.
How do you know if a site or sportsbook is doing this? Just check how many games are available during a time of the week with a high volume of games.
Are all the games there? If not, you need another place for live betting.
When it comes to picking the right online gambling site, not only do you need a wide selection of games, you need a fast interface. This is especially true for mobile apps.
The odds and lines can adjust quickly, and to grab the ones you want, you’ll need a quick interface to get the bet down. How do you know your online gambling site has a fast interface? You can test it by simply clicking from page to page.
If there is a delay or lag in loading, you want to go with a new online gambling site or app. If you are in a state with legalized online sports betting, try new sites like DraftKings or FanDuel.