Almost since sports began, betting on the outcome has become an integral part of the activity.
It’s thought that even in Roman times, wagers were placed at the games, adding hugely to the spectators’ enjoyment.
Some sports such as horse racing also rely on gambling for a large proportion of their income, for example through an organisation called the Tote in the UK.
For many years sports betting was wholly focussed on the result of a contest, predicting which team, individual or animal would win and offering the appropriate odds. Other, more sophisticated, bets might include who the top scorer in a game or even a season could be.
But what all had in common was that they were placed before any contest started and paid out to the winners when it was over.
Now, on the other hand, we find ourselves in the era of live betting, also sometimes known as in-play betting.
The technology that’s made it possible
As with so many things, it has been the march of technology that has made live sports betting possible.
Whereas before betting generally meant physically placing a bet, either at a bookmakers or directly with someone attending the match, now it is possible for anyone with a PC or a smartphone and an internet connection. Sportsbook operators have also made it even easier still through the use of apps that, once downloaded, just need to be opened.
The nature of live betting also means that the odds of a particular event occurring are constantly shifting. Technology comes into play here too with AI and other pieces of software working to constantly calculate and adjust odds.
Anything’s possible
One of the biggest changes that live sports betting has introduced is in the sheer number of different kinds of bets that it has made possible.
Examples of the sorts of bets that can be made include the total number of points to be scored in the next quarter of a football game, who will win the next set in a game of tennis or how many corner kicks will be taken in a soccer match.
Some sportsbooks even have the facility for fans to create their own bets, calculating the odds there and then. These odds are constantly shifting, along with the momentum in the contest in question, making for a very exciting betting environment.
The social aspect
Watching sport has always been a social activity. A place where friends get together at the game itself, in a bar or even in someone’s home. Live betting can tap into this social atmosphere, even when friends are betting remotely from each other.
Through social media it’s very possible to share and compare bets, not to mention boast about winning ones. Some sportsbooks also include information about the particular live bets that are trending and being placed at any point in the contest. There is sometimes even the possibility to participate in a group bet creating an even stronger sense of inclusion.
Get engaged
Alongside inclusion, engagement is also fostered and encouraged by live betting. It stands to reason that anyone wanting to take part in the activity would do well to pay more attention than usual to the action playing out before them.
It’s a fairly common phenomenon that casual fans tune in to the start and the end of a game, ignoring the middle section. But when there are plentiful betting opportunities throughout this encourages a longer viewing period. So broadcasters have found that the viewing figures have tended to stay higher, for longer, ever since live betting started to gain in popularity.
Similarly, in matches which are low on excitement and even in ones in which the final result looks certain, live betting helps to add interest, encouraging viewers who might normally give up to stick with it.
A few considerations
For all of its features and benefits, it also needs to be said that there have been a number of criticisms levelled at sports betting. The first of these is that it can become too easy to focus on the betting rather than the action itself. After all, sport is there to be enjoyed for itself, not just as a potential money-making opportunity.
Some also feel that the instantaneous nature of live betting means that people do not have the time to fully weigh up their chances of success. Its impulsive nature also means that it’s possible to burn through a bankroll far faster than anticipated.
There have also been clampdowns on advertising live betting odds while a match is being broadcast, particularly in the UK.
But these reservations notwithstanding, live sports betting is undoubtedly here to stay. And for anyone who has started to incorporate it into their enjoyment of sports, that’s very good news indeed.
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