One of the biggest revolutions that the internet has brought to the Sports Betting industry is the ability to allow for Live – or In-Play – Betting.

Simply put, Live Betting allows people to place bets whilst a match, event, or race, is actually in progress, as opposed to the more traditional pre-match gambling model. Many gamblers prefer Live Betting because it gives them a heightened sense of enjoyment and fun, and it also offers greater chances of winning. If you can see how teams, players or horses are actually performing, then you have a much greater chance of predicting the outcome of an event. You also have the opportunity to tailor your betting strategy as events unfold – such as if there is an injury to a major player in a football match, or an unexpected red card.

It also has the advantage that if offers a number of betting options that are not available with ante-post betting, such as next team to score, or next booking in football, or to bet on the outcome of a tie-break in tennis.

Another distinction between live and pre-match betting is that the odds fluctuate more. Whilst the odds will change in the run-up to an event, once the race or match starts they are fixed, and there is nothing more that can be done to amend your bet. However, with live betting the odds are changing all the time, which makes it more stimulating, and, theoretically at least, offers the punter the chance to earn much greater returns. This is especially true if the bookmakers are offering odds that they believe are wrong – by acting quickly they can benefit if the market then swings in their favour.

To be successful in live betting, you need to be quick-witted and decisive, ready to react to developments at a moment’s notice, and prepared to shift your strategy at will. This is always why you need to be able to watch events live and have a fast internet connection. Trying to follow a match remotely, or with a dodgy stream, will put you at an immediate disadvantage compared to all the other online punters because the odds you will be seeing will be out of date.

One drawback with online betting that many bookmakers do not advertise is that the online betting odds are often wrong, or based on incorrect information, especially when they are taking feeds from less well-known sporting events, such as lower league football, or tennis matches on the Challenger or Futures Tours. Whilst the bookmakers will usually carry disclaimers that odds shown are for information purposes only, that can be scant consolation for those who have made revised bets on incorrect data.

Another problem with online betting is the tendency to panic and over-react if you see that a bet is going against you. Too often the tendency is to try and double up a bet to cover losses, often getting yourself deeper into trouble. With pre-match betting it is much easier to maintain your discipline and limit your losses.

For those who prefer to take their time and analyse team, match and player statistics carefully, then pre-match betting is probably a safer option. And, if you are a novice, or new to sports betting, stick to the ante-post market until you really understand the rules and the options that are available. Last, but not least, if you are unwilling or unable to act quickly and decisively, then Live Betting is not for you. Whilst some find it exciting and thrilling, for others it is just too stressful.