“The worse a situation becomes the less it takes to turn it around, and the bigger the upside.” – George Soros
Live betting or “in-play” betting, can contain plenty of value. We do recommend it – on the proviso that you approach it as you would approach any other sports investment opportunity – with good doses of strategy and discipline. If you are the type that is inclined to chase losses and get emotional with your wagers – live betting can be deadly.
Books or exchanges offering live betting are:
Betfair : English betting exchange that offers thousands of live markets daily in the exchange format. Exchange betting gives the ability to both back (bet to win as a traditional punter) and lay (bet to lose by acting like the bookmaker and accepting the liability should the selection lose) a selection.
Additional to this is the competitiveness of the prices on offer. Quite often the exchange offers a razor thing percentage on the market – ensuring the prices are super competitive. Betfair charges a commission on winning bets, that although not insignificant, is still far more favourable than a traditional “11 to win 10” bookmakers price.
Betdaq : Another live betting option based in Ireland, Betdaq is a competitor of Betfair, and number two as far as market size is concerned. We have never used this option for various reasons, among them a preference for Betfair’s layout and liquidity.
Pinnacle Sports : Deals live in multiple markets, with opportunities to bet during breaks in the major sports such as MLB, NFL, NBA, Tennis, WNBA etc etc. Pinnacle offers a bookmakers market in play, but will charge you extra in juice for the benefit of offering the market. Pinnacle claims to be “Better than an exchange” with their low comission and high limits if betting before the event – which is interesting, but depends on the market.
Centrebet / other Australian Coroporates : Offer live AFL betting at breaks, but makes life difficult for profitable sports investment players. Prices at Australian corporates are also generally not as favourable as elsewhere.
Born out of live-betting (particularly at Betfair) is the ability to invest on both sides of the action to lock in risk free profit (“greening out” in Betfair parlance). This is possibly the most attractive element to committed Betfair players. Done successfully, you are able to establish a profitable position regardless of the outcome of the event. This is described as “trading” of the betfair markets, and enables you to trade price fluctuations as though they were stocks, bonds or commodities.
Although not part of the paid service here at www.professionalgambler.com.au, for our own accounts we do enter live markets when we wish to add to a position at attractive odds when we are still confident of the fundamentals and/or signals still being there. This is a judgement call made as an event progresses.
Unfortunately, due to the interactive gambling act Australians are limited to wagering online with bookmakers like (pinnacle for example), during breaks in the game. Phone service or retail outlet betting is still possible whilst the game is “in play” for Australian residents, but this depends on your bookmaker. To bet live and “in play” at an exchange such as Betfair (the preferred option for live betting) – Australian punters are able to participate, but are forced to phone the exchange and have an operator place their wager for them. Due to the interactive gambling act Australian bookmakers are not able to supply live and in-play markets online to Australian residents.
We patiently wait for the floodgates to open up with the ability to bet live in play over the net in a live and liquid market. Get the champagne ready for any changes to the interactive gaming act.