What is Live Betting?

Live betting may be a bit of an oddity for new sports bettors. Even if you’ve bet on sports before, you probably haven’t seen many betting options after the games begin. That’s what live betting is, however. Once a game is in progress, sportsbooks can offer new betting opportunities on the fly.

As you visit online sportsbooks in Illinois, you will see live betting options prominently featured on the apps. It’s important to know what they are and how they work. Most of all, it’s important to grasp how your favorite teams might be the subject of live betting.

Live sports betting is a type of wager that takes place after a game or match has begun. It is also known as in-play or in-game wagering. Live wagering is usually a form of prop betting because it rarely involves queries about the game’s outcome.

What are the different types of live bets?

Live bets break down into one of three types of wagers. They are:

Pregame Continued: Standard bets such as spreads, moneylines and totals may progress into the game itself. However, betting lines will adjust according to the events within the game. Be careful about betting these as if they are using pregame information.
Milestones: Players or teams routinely break certain milestones during a contest. These milestones can be for the game itself, the season or the complete history of the subject. The live bets you’ll see for these will usually ask, “Will they or won’t they?”
Partial Game Results: You can bet on the outcome of smaller segments of the game. There can be live bets about the “winner” of a particular period of play, or which team will be in the lead at the end a quarter. However, you can come across bets about individual plays, too. These usually reflect the outcome of the play itself and are mostly a guess.

Because of these options (especially partial game results), live betting can push the number of bets available on any one game into the hundreds. Needless to say, sportsbooks like to increase the number of possible wagers. It can be exciting because live bets give you a second bite at the apple for the game you’ve chosen.

How live betting works for top Chicago teams

So, if you’d like to try live betting, you should know the basics. Here are some of the live bets you’ll find for the top Chicago sports teams.

Before we begin, it’s important to mention that one of the restrictions of the Illinois sports betting law pertains to live betting. Because placing wagers on the performance of a college athlete isn’t permitted; therefore, that includes live wagers. Furthermore, bets on Illinois college teams is also not allowed.

NFL live betting

Football is the most popular sport in America, both in terms of viewership and in terms of sports betting. For example, the Super Bowl is the busiest sports betting day of the year.

Illinois is home to a single NFL franchise: Chicago Bears. Naturally, you’re going to see plenty of options for live betting during the NFL season. Typical NFL live bets could be some of the following:

Nick Foles’ next pass will be: Incomplete, complete or an interception?
Will the next play be a pass or a run?
Are the Bears going to score on this drive? Yes or no?

NBA live betting

NBA games are popular events, particularly when the playoffs begin. Each game’s amount of scoring means that there are always opportunities for NBA live bets. Illinois’ lone NBA representative is the Chicago Bulls. Here are some possibilities:

Which team will lead at the end of the first half? The Bulls or the Pacers?
Since Zach LaVine scored 10 points in the first half, will he score 20 or more for the game?
Will either team break 100 points? Yes or no?

MLB live betting

MLB games feature America’s Pastime played at the highest level. With 162 regular-season games and the playoffs, there are always plenty of live betting opportunities during a baseball game. Illinois has two Major League Baseball teams: the Chicago Cubs and the Chicago White Sox. So, here are some of the MLB live bets you could see for the majors:

Will Lucas Giolito record a strikeout during this inning?
Over/under for a number of hits for the Cubs in this inning: 1.5
What kind of result will come from this Kris Bryant at-bat? Hit, out, walk or hit-by-pitch?
Will the White Sox score in this inning? Yes or no?

NHL live betting

NHL games are always fast-paced and exciting. Few things match the thrill of a lightning-fast goal hitting the net and the joyous blasts of the goal horn. Illinois hockey fans throw their support behind the Chicago Blackhawks. Here are some of the NHL live bets you could see:

Will the Blackhawks get a power play this period? Yes or no?
How many shots on goal will Patrick Kane have during the second? More or less than 2.5?
Will Corey Crawford allow a goal during this period? Yes or no?

3 live betting tips

With so many options, it’s understandable if you’re excited to give in-game betting a try. So, let’s talk about some habits that you should do to be successful.

Firstly, is realize is that you’re dealing with an entirely different animal than you were before the game began. More variables are affecting the bet and less time for you to consider them. So, here are few live betting tips to make sure that your in-game betting experience goes smoothly:

Bet Selectively: There’s no prize for making sure to bet every single option that comes across the feed. Even though time is an issue for live betting, don’t be in a rush to put your money down. If you don’t feel comfortable with the terms of a bet, let it pass – more are sure to follow.
Watch Your Money: It’s not uncommon for live betting to add more than one hundred new bets to a single game. That many opportunities and the speed at which they appear can cause you to lose your bearings. Like any gambling, it’s a good idea to set a loss/betting limit before you begin live betting.
Follow Your Gut: Ask yourself whether a wager passes the smell test when you see it, or if it’s more of a sucker bet. You’re not bound to win or lose every single time, but you don’t have to make it easy on the programs creating the bets.

Most common live betting mistakes

There is certainly more than one way to live bet properly. Experimentation and testing are part of the game, so it’s OK to try something new. However, be sure that you don’t fall into some of these traps associated with live betting online:

Don’t Bet on Unfamiliar Games or Sports: While some of the best value in sports betting is available on more off-the-beaten-path games, there are too many unknowns to negotiate when it comes to live betting. Stick to contests where you have some familiarity with the players and gameplay if you’re betting live. You don’t want to be wondering why the score changed or a team got penalized while trying to decide on a fleeting betting option.
Hedge, but Don’t Chase Losses: One of the nice things about in-play wagering is that you can use it to guard against iffy pregame bets. If there was a pregame wager that you made and you’re waffling on, you might be able to find a live bet to cover your bases. However, you should never chase your losses with live betting. The wagers come so fast and furious that you can quickly dig yourself into a much bigger hole. Be careful if you’re already stuck and live betting options appear.
Don’t Bet with Your Emotions: Our emotions serve an important purpose; however, they are often our worst enemies when we are betting. If you’ve already taken several kicks in the teeth and you’re feeling down, live betting is no place for you. Slow down, calm down and wait for the next game. There’s always something new to bet.

Wrapping up on live betting in Illinois

There is likely no hotter type of betting right now than live betting. The ability to add hundreds of wagers to each game has attracted sportsbooks and bettors alike, albeit for different reasons. The speed associated with live betting may not be for everyone. If you’d prefer a more casual approach to your sports betting in Illinois, that’s perfectly reasonable and acceptable.

However, few other sports bets can expand your options and your game more than live betting. As long as you can keep a handle on your emotions and your bankroll, there’s no reason in-play wagering can’t be part of your arsenal.