Mastering the Game: A Comprehensive Guide to Live Sports Betting Online

The global sports betting industry is worth a staggering $85 billion, with an expectation that it will hit a compound annual growth rate exceeding 10% for the next decade. 

Much of this growth can be attributed to live sports betting, which is growing at a rapid pace in most major markets. With the opportunity to place a bet in-game, right in the middle of the action, players have a new and exciting way to be involved with their favourite sports. 

But it’s also a style of betting that has a bit of a learning curve. Things change super quickly, and it can often be overwhelming for the uninitiated. In this guide, we’ll give you everything you need to know to master the game.  

• TABLE OF CONTENTS

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  Why Live Online Betting Beats Land-based Equivalents 

The advantage online live sports betting has over land-based equivalents is multiple. The main plus point is that you have options. When you’re trying to take advantage of quick decision-making and your specific in-game knowledge, it’s important you can place the bet you want to make, rather than be limited by a single operator’s market. 

Betting online also allows you to bet on pretty much any sport you want, no matter the league or country. For example, if you want to place a live bet on a result in the South African football league, there are reputable online bookmakers that can make that happen. 

When you’re in a land-based venue, on the other hand, the options are far more limited. At the Luxor Hotel & Casino in Las Vegas, for example, they accept bets on the English Premier League. However, it is not possible to bet on anything but the full-time result. And that’s before the game; in-play live betting is a completely foreign concept. 

• Stay Patient 

The reason people lose money when betting in-game is that they’re not patient. You need to wait for the right odds to come up before you put down the bet. By the right odds, we mean a bet that, on balance, is a mathematically smart move to make. Over time, you’ll win more than you’ll lose. 

When the odds never materialize, don’t be afraid to wait for the next juncture in the game or to wait for another one entirely. Odds are always changing, and there’s always another game to put your money on. 

• Go Odds Shopping 

Online betting gives you the advantage of being able to pick an operator you like. In this case, we recommend going odds shopping. In other words, find the provider with the best odds for the bet you want to place. 

For example, if Arsenal has just conceded against Manchester United, you may be wanting to put a bet on the Gunners making a comeback, since there is historical precedent for it. Instead of heading for your go-to account at Ladbrokes or William Hill, go to a website like OddsChecker.com (or similar) and find the best odds. 

• Build In-depth Knowledge 

In-game betting is fantastic for fans who are truly obsessed with the sport in question. For those who are just casual fans, the odds tend to be stacked against them. 

Find out what coaches tend to do against certain opponents. Watch how they react to what happens on the pitch. Mourinho, for instance, tends to be a master at defending a 1-0 lead. Do you really want to place a bet on the other team coming back? 

What we recommend is watching how odds develop in a game. Figure out why they’re changing. How does the action on the field compare to the betting companies’ adjustments? Try and find the weak spots, equipped with your specialized knowledge on a team, sport, or league. 

• Mastering the Psychological Component 

In an article on the psychology of gambling by researchers at the University of Cambridge, it is thought gamblers often suffer from an ‘illusion of control.’ They think that their skill can take them to the promised land, and in the end succumb to psychological weaknesses, losing all of their money.

Here’s our final piece of advice: mastering the psychological component of gambling is perhaps the most important step. By that, we mean several things. First, you need to accept and understand that you are human. 

Basic, right? But only when you fully accept your shortcomings, can you turn them to your advantage. If you know you get stressed when watching the team you support, for instance, focus on other sports entirely. Take the emotion out of it. 

You also want to have several fail safes in place. Set a limit on how many bets you can place in a single day. Don’t bet when inebriated. When you hit a losing or winning streak, hit the pause button. 

You’ll often find that becoming zen when gambling, mastering your emotions, will be far more important than the actual knowledge you have of the sports you’re betting on. 

Finally, be humble about winnings and philosophical about losses. It’s a game, right? If you don’t win, there’s always another day. There’s no reason to hit the panic button.