Live Bitcoin betting is explained in this must read guide. In-play or live betting means placing your bets while the match is going on, and it’s one of the most exciting types of betting with cryptocurrency.
In-play bets are different from the bets placed before the game starts since you have a chance to bet on different factors as the game progresses with specific odds that adjust to the ongoing actions. It creates an opportunity for creative betting for crypto bettors.
In live betting, you can only bet on quick and short-term end results within a specific quarter, half or even every minute or so. This fast paced nature makes the experience a highly exciting one with a broad selection of markets to bet in.
Understanding Live Betting
The history of sports betting can be traced all the way back to the ancient Olympic Games of Greece. Back then, betting used to happen prior to a game, but nowadays due to the increase in technology (especially from the 1990s), betting can now happen during the match.
At one point, betting was done over the phone but now there are online cryptocurrency bookies where betting is done in real time and the odds are updated regularly. Live bets offer a range of betting options and the chance to adapt to the game’s flow. As a result, Bitcoin bettors can respond to the game’s changes and adapt their strategies accordingly in real-time.
Popular Live Bets
The Bitcoin betting options for live betting are similar to those available before the game starts, with the key difference being the constantly changing odds. Here’s a rundown of common live betting types you should keep in mind:
- Moneyline: This is the most common type of bet which can be placed on a specific team to win a match. For example,betting on the Toronto Blue Jays to win against the Chicago Bears.
- Spreads: This is a bet placed based on the number of points to be won by the favorite or lost by the underdog. The spread and the odds may also change as the game progresses depending on the totals of the two teams.
- Micro Betting: These are bets taken on certain instances that happen within a game, especially the result of the next bowl, run play or point.
- Totals: This is when you place a bet on the totality of the scores of a game and whether it will be above or below a certain figure. For example, betting on over 3 goals in a soccer game means you expect at least four goals to be scored, while under 28 points in an NFL game means the combined score should be 27 or less.
- Prop Bets: These are bets on specific outcomes that aren’t tied to the overall result of the game. For example, betting that “Tua Tagovailoa will throw three touchdown passes” regardless of the final score.
Choosing the Best Bitcoin Sportsbooks for Live Betting
When selecting a Bitcoin sportsbook for live betting with cryptocurrencies, consider the following important factors before you get started:
- Crypto Compatibility: Make sure the crypto sportsbook accepts your preferred cryptocurrency and offers a fast and simple transaction process.
- Security Measures: Look for platforms with strong security protocols, including encryption and two-factor authentication, to protect your funds.
- Live Betting Features: The crypto bookie should offer a wide range of live betting markets, fast updates on odds, and a user-friendly interface.
- Customer Support: Reliable customer support is paramount, especially when dealing with cryptocurrencies. Choose a GOSUBETTING recommended Bitcoin sportsbook that offers responsive support in case you encounter any issues.
Which Sports Are Best for In-Play Bets?
Live betting has become increasingly popular all over the world, with more sports offering live markets each year. Whether you enjoy baseball, soccer, football, or even eSports, you’ll find live betting opportunities at many Crypto sportsbooks. Here’s a look at 10 of the most popular sports and their suitability for in-play/live bets:
Basketball
Live betting on the NBA often revolves around point spreads. With frequent changes in momentum from quarter to quarter, you can use your intuition to bet on basketball, as home teams can often overcome deficits and defy the odds.
American Football
NFL games feature a variety of live Bitcoin betting options, including prop bets and micro markets. Totals are also popular, with odds for over/under on the final score fluctuating regularly. You might also find live betting opportunities for each quarter.
Baseball
For MLB, micro-betting markets are a key focus, allowing you to bet on the outcome of the next pitch or run. Spread betting on the “Run Line” is also common among in-play Bitcoin bettors.
Hockey
In NHL live betting, you’ll likely focus on totals and spreads. Pay special attention to the final minutes, as the puck line and totals can be influenced by a late goal, especially if the trailing team’s goalie is pulled for an extra attacker.
Tennis
Tennis live betting typically involves spreads and totals, but some Bitcoin sportsbooks also offer micro-betting on individual points during a set.
Soccer
Soccer is a favorite for live bettors, even for those who aren’t soccer enthusiasts. Betting strategies like over 1.5 goals in-play are popular, and you don’t need extensive soccer knowledge to enjoy live betting on totals and spreads.
eSports
With the rise of popular eSports, live betting on games like CS, Dota 2, and League of Legends has become increasingly popular. The real-time action and unpredictability of eSports make them a favorite for live bettors at crypto sportsbooks.
Golf
Golf’s extended format makes it ideal for strategic live betting. Consider the 2005 Masters, where Tiger Woods, initially a favorite, fell behind after the first round. Live odds would have shifted significantly during the tournament.
Cricket
Cricket’s long matches and multiple formats (e.g., Test, ODI, T20) provide ample live betting opportunities. Bitcoin bettors can wager on outcomes like the next wicket, run total, or even the result of individual balls.
MMA/UFC
MMA and UFC matches offer intense action with the potential for quick turnarounds, making them exciting for live betting. Bettors can place wagers on round outcomes, method of victory, or even specific fight moments.
In-play betting adds excitement and strategy across many different sports, adding more thrill to your whole betting experience.
Live Betting vs. Pre-Game Betting – Which is Better?
Live betting is usually considered to be more beneficial when compared with pre-match betting. In a live event, the bookmaker needs to set odds based on the current form of the game, and this is usually very difficult. Pre-game odds are set based on broader probability margins, resulting in tighter odds that may not provide as much value. Live odds, driven by real-time data, can lag behind the actual events occurring on the field.
For example, if the LA Lakers start making a comeback, the odds might not immediately reflect this shift due to the data-driven nature of live odds. This creates opportunities to place bets at valuable odds before they adjust to the game’s momentum.
When Does Live Betting Make Sense?
Live betting is particularly effective when you have an edge or are looking to improve your betting experience. Here are some scenarios where it makes sense:
- Watching the Game: Live betting is more engaging if you’re watching or attending the game. While not necessary, it adds excitement and increases your involvement in the event.
- Hedging Pre-Game Bets: If a pre-game bet isn’t performing as expected, live betting can be used to hedge or adjust your position. This strategy can help manage risks and capitalize on changing game conditions.
How Live Betting Odds are Calculated
Bitcoin sports books also use what is referred to as traders and setters who are given the responsibility of fixing and changing odds for bettors. The odds that are offered have a house edge that allows the cryptocurrency sportsbook to make profit. This must be kept in mind when placing your bets.
When setting a line for any game, several aspects are taken into consideration by Bitcoin bookmakers and live betting is even more sensitive. During the course of the game, trading teams have to remain especially watchful to ensure that the sharp Bitcoin bettors don’t capture the correct odds and then cash out quickly.
Elements, including the current score, player performance, injuries, coaching decisions, and weather conditions, can influence odds both before and during the game. Below, we’ll explore how these changing odds impact cryptocurrency bettors, as fluctuations can either present opportunities or create challenges in live betting.
Who Sets the Odds?
The odds you see are set by teams of experts known as traders. These professionals are responsible for establishing, monitoring, and adjusting both pre-game lines and live betting odds. They use a mix of historical data, statistics, algorithms, and betting trends to predict the most accurate probabilities. Some crypto sportsbooks also lean on sharp bettors – those who consistently win – to fine-tune their odds.
Understanding who sets the odds and how they do it is important for live betting. While statistical data and trends offer solid predictions for pre-match odds, the actual game introduces a layer of complexity that can’t always be captured by numbers alone. This is why live betting odds can change dramatically and why savvy Bitcoin bettors can sometimes find significant value when the odds don’t fully account for in-game developments.
Benefits of Live Betting
Live Bitcoin betting offers a mix of advantages and challenges, making it important to weigh both when deciding whether to place in-play bets.
Real-Time Odds Updates
One of the key benefits of live betting is the ability to capitalize on odds that update in real time as the game progresses.
Hedging Opportunities
Live betting also provides an excellent opportunity to hedge your bets and minimize potential losses. While the in-game odds might not be as favorable, a well-timed bet can still soften the blow.
Better Viewing Experience
Live betting can also improve your overall viewing experience, especially during downtime. If you’re watching a game live, browsing in-game lines during commercial breaks or pauses in play keeps you engaged and offers additional chances to wager.
Drawbacks of Live Betting
While live betting has its perks, it’s not without its downsides too, which we will touch on below:
Suspended Odds
One of the frustrations with live Bitcoin betting is the possibility of odds being temporarily suspended while the Bitcoin sportsbook recalibrates its lines. You might be ready to place a bet, only to find the line you wanted has been pulled or possibly reappearing with less favorable odds.
Tunnel Vision
Focusing intensely on the live crypto betting options of a single game can cause you to miss out on good lines from other games. In-game betting often requires your full attention, meaning you might overlook other opportunities while concentrating on one matchup.
Unfavorable Odds Movements
Just as live betting can present better odds after a game starts, it can also lead to less favorable ones. This is the risk you take with live betting; sometimes, it turns out that placing a pre-game bet would have yielded better results.
How to Place a Live Bet in 5 easy Steps
Whether you’re an experienced Cryptocurrency bettor or new to sports Bitcoin betting, placing a live bet is easier than you might think. Essentially, you’re wagering on events with odds that change regularly during the game, but the core principles of Bitcoin sports betting remain the same. Here’s a straightforward 5 step guide to get you started.
Step 1: Sign Up and Deposit
If you’re not already registered, start by choosing a top online Bitcoin sportsbook recommended by GOSUBETTING from our list and create an account. After signing up, make your first deposit, and don’t forget to claim any available bonuses if you wish.
Step 2: Explore the Markets
Take some time to familiarize yourself with the available betting markets. While many markets are available ahead of time, some, like micro-markets during baseball games, might only appear once the game has started. Knowing the layout in advance will help you act quickly when it matters.
Step 3: Place Your Bet
Keep a close eye on the live markets and look for betting opportunities with good value. When you find a promising option, click on it to add it to your bet slip. Enter your stake amount and click “Bet” to confirm your wager.
Step 4: Continue Betting or Cash Out
As the game progresses, you can place more bets, cash out early if you think your bet might lose, or hold out for the final result and collect your winnings if your bet comes through.
Step 5: Withdraw Your Winnings
If you’ve won and are ready to cash out, remember to meet any wagering requirements if you’ve used bonus funds. Then, head to the cashier, select your preferred withdrawal method, and enter the amount you’d like to withdraw. Follow the instructions to complete your transaction.
Can You Build Parlays in Live Betting?
Yes, you can build parlays with live bets, though it requires quick thinking and fast action. Since odds can change rapidly and lines might be temporarily suspended, crafting a parlay during live betting can be challenging.
However, with careful research and smart selections, a live betting parlay can offer significant winning potential. Experienced Bitcoin bettors often find value in combining player and game props into live parlays.
Live Betting Tips
Before diving into a live Bitcoin betting strategy, it’s important to set yourself up for success. Here are 6 of our top tips to help you prepare before the game begins.
Use Live Streaming
If your crypto sportsbook offers live streaming, take advantage of it. Watching the game while betting allows you to react instantly to the action, all on the same screen. This feature is especially useful for making informed decisions in real-time.
Close Unnecessary Tabs on Your PC
Speed is important when live Bitcoin betting, so reduce your computer’s RAM usage by closing any unnecessary apps and browser tabs. This will help make sure your system runs smoothly and responds quickly when you need to place a bet.
Bet on Mobile
Consider using a mobile Bitcoin betting site, especially if you’re on the go. Dedicated mobile sites, particularly those from Bitcoin sportsbooks, often provide a faster and more responsive live betting experience, allowing you to act quickly as the game progresses.
Use Virtual Scoreboards
If live streaming isn’t an option, use the bookmaker’s virtual scoreboard. While not as exciting as watching the game, virtual scoreboards offer real-time data that can be more reliable than radio or online commentary, helping you stay updated on key moments.
Shop Around for the Best Lines
This tip is more difficult but can pay off. Keep multiple crypto sportsbooks open to compare odds and chase the best lines available at any given moment. While this strategy is best executed on a desktop for better screen space, it can lead to finding significant value.
Don’t Chase Losses
Just like with pre-match betting, never chase losses in live betting. It’s better to step back and wait for another opportunity rather than make impulsive bets to recover losses. Successful bettors practice disciplined bankroll management.
Know Your Sport
Having deep knowledge of the sport you’re betting on gives you a significant edge. Live odds are often driven by data and algorithms, which may not always account for potential game-changers like comebacks. Understanding the details of the sport can help you anticipate these shifts better than the odds might suggest.
Best Strategies for Live Betting
Live betting offers a variety of strategies that can be highly effective if you’re well-prepared. It’s worth researching and practicing different approaches to build a solid betting repertoire. Below are some of the best live crypto betting strategies to consider.
Place Live Moneyline Bets for Better Odds
Moneyline odds often fluctuate significantly once a game begins. By waiting until after the start of the event, you can sometimes secure much better odds than those available pre-match. This strategy allows you to capitalize on the live moneyline as it adjusts in response to the game’s early moments.
Watch the Game in Person
If possible, watch the game live and in person. Some bookmakers may be slow to update their odds, giving you a brief window to exploit the lag. By witnessing the action firsthand, you remove any broadcast delays and can act quickly to take advantage of shifting lines.
Bet on the Opposite Outcome
If you realize early on that your first bet is likely to lose, consider placing a bet on the opposite outcome. While this strategy might not always result in a big win, it can help you recover some of your losses by hedging against your first wager.
Hedge Your Bets with Middling
Middling is a strategy where you place bets on both sides of a game with the potential to win both. For instance, you could bet on the Chicago Bulls with a 4-point spread as underdogs, and later in the game, place a bet on the New York Knicks with a 2-point spread. If the Knicks win by exactly 2-4 points, both bets pay out, resulting in a double win.
Bet on Over 1.5 Goals in Soccer
This is a popular and reliable strategy for soccer betting. Look for a game where over 2.5 goals seem likely, and wait until after the match has started. The odds for over 1.5 goals usually start around +120 and will become more favorable the longer the game goes without a goal. Timing your bet correctly can maximize your returns.
Use Arbitrage Betting
Arbitrage betting involves taking advantage of different bookmakers’ odds on the same event to guarantee a profit. By monitoring a few live Bitcoin bookmakers simultaneously, you can often find opportunities where you can cover all possible outcomes and lock in a profit regardless of the result. This strategy requires quick reflexes and careful tracking of odds but can be very lucrative.
In-Play Betting on Mobile and Desktop
Bitcoin sportsbooks offer live crypto betting across all platforms, including desktop, iOS, and Android. Mobile betting is particularly convenient for live Bitcoin bettors, allowing you to place bets easily from your phone whether you’re at a bar or watching the game in person.
However, if you’re at home with access to your computer, you might find it more comfortable and efficient to use your desktop or laptop for in-game betting.
GOSUBETTING’s Thoughts
Live betting has transformed the Bitcoin sports betting landscape by offering dynamic, real-time betting opportunities. Whether you’re betting with traditional currency or cryptocurrencies, the key to success lies in preparation, strategy, and staying informed. As live betting continues to evolve, Bitcoin bettors who adapt and leverage the latest tools and strategies will find themselves well-positioned to maximize their winnings.
Frequently Asked Questions
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What is live betting?
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How do live betting odds differ from pre-game odds?
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Can I place live bets using cryptocurrencies?
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What types of bets can I place during live betting?
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Is live betting available on mobile devices?
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What are the advantages of live betting with cryptocurrencies?
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How do I choose the best crypto sportsbook for live betting?
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Can I hedge my bets with live betting?
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Are there any drawbacks to live betting?
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Can I build parlays with live bets?