What are Live Odds?
In sports betting, live odds are odds which update in the build-up to an event and also while the event plays out. Players who are losing on one bet can take another to cancel out their loss and to make the most of the new situation. Live odds are common in sports betting, and are available throughout the game until close to the end of the match.
Live Odds Definition Explained
A popular form of gambling in the UK, the USA and in Europe is sports betting. Sports betting involves wagering a cash stake against a particular outcome in a sporting event, such as a team winning or a number of goals being scored, and if their prediction is correct they receive a return on their stake. This return is based on the ‘odds’ given for that bet – the chance of an outcome happening, weighted against the need to attract bets and also the bookmaker’s cut.
‘Live odds’ are the odds given by a bookmaker on an outcome available for wagers during a game, as opposed to before it. The term is also applied loosely to any odds betting that is not fixed – that is, where the odds on the bet posted can fluctuate during the period that the bet is ‘live’. When players talk about ‘live odds’ betting, they often mean ‘in-play betting’. Usually seen in soccer and football matches, live odds betting is the option of placing bets while the match is ongoing.
Certain events in a game can drastically change the result, and a player who has a losing bet or who has not yet placed a bet might want to take a chance on a live odds bet. Live odds are offered by a number of online casino and physical bookmakers during match days, and these posted odds are updated as different factors affect the ongoing game.