There are many reasons sports betting on the internet is more ideal than using a live bookie. The primary reason relates to Indian gambling laws which state gambling debts are unenforceable, meaning if a bookie doesn’t pay you there is no recourse. When betting online however, you can use UK licensed bookmakers that are fully legal under European and International law. These sites are heavily regulated and the proper channels exist to quickly mitigate player/bookmaker disputes. Outside the legal issues, internet bookmakers offer far more markets than bookies do. One of the many features you’ll find online that you won’t find locally is Live Betting.
Live Cricket Betting
Bet365 is one of the many online betting sites offering in-play wagering on cricket. Here you can watch cricket matches live right on their website. During the match the odds change and you’re able to make wagers on the adjusted odds, this is called “In-Play wagering”. In addition to betting on the team you feel will win you can bet on virtually all other aspect of the match. When a batsman steps up the crease you can make wagers on over/under the runs scored by that player. As each ball is bowled you can speculate the runs scored on it. You can bet on how many wickets will be lost before a number of runs are scored and much more. For details refer to either www.bet365.com or our page on live cricket betting.
Live Betting Sites
Bet365 is our favourite betting site offering in-play for several reasons. First off Bet365 offers Indians a sign up bonus of 100% the size of their initial deposit up to Rs. 2500 free. They are also one of the few gambling sites that accept deposits, withdrawals and issues payouts in Indian Rupees, and they are safe and secure. Bet365 has been licensed in the UK since 1974 and are owned by the same family that owns Stoke City FC – the oldest football club in the English Premier League. Their live betting offerings are also second to none.
On the Bet365 website, once logged in, simply click the link on the top menu called “In-Play”. This is will bring you to a page where dozens of games in progress can be wagered on. The ones on the left side menu with a TV icon indicate the game is being streamed live on the Bet365 website. There are other games available for live betting that are not streamed but wagers can still be made on them. As a general rule of thumb, if a match in any sport match is covered on National TV of any country, Bet365 accepts in-play wagers on it.
A great thing about live betting is you don’t need to be an expert of the sport to have fun wagering on it. I’ve become well versed and familiar with many different sports I never would have considered wagering had Bet365′s in-play coverage not helped me become a fan. One example is AVC Woman’s Volleyball. What I learned here is most matches have a strong favourite – but excellent value can still be found. For betting the underdog: wagering on a specific point (such as 24th point of the match) can have great value. When betting the favourite in lopsided matches, look at the race to 5. When a teams such as Taipei Chinese Woman face the Iran Woman, Taipei is always going to be heavily favoured in the complete match to the tune of 1.04 odds (win .04 rupees for each rupee staked). For the race to 5 points however, odds around 1.72 can be found. Although there are more upsets on races to 5, this option provides a chance to bet the dominant team and still get a decent payout when they win.
No matter what sport you’re a fan of Bet365 has you covered with great in-play wagering options. While In-Play is also offered at other sites, their coverage is quite similar to Bet365. Since other sites don’t accept INR, you’ll get charged considerable currency conversion fees. With Bet365 offering wagers in rupee this problem doesn’t exist making them the more logical choice.
Live Betting a Betfair
Note to Indian Players: Depositing at Betfair from India is nearly impossible. If you are looking for live cricket betting we recommend Bet365.com for Indian players. They accept INR and offer a great overall experience.
Betfair differs from traditional betting sites; Betfair is not a bookmaker but rather is a peer to peer betting exchange. Here players are wagering against one another and Betfair takes a 5% commission of net market win. To give a simple example of how it works – let’s use an IPL Cricket match between Royal Challengers Bangalore and Chennai Super Kings, where the starting odds were Bangalore 2.20 / Chennai 1.66. Prematch we place a wager on the underdog Bangalore for Rs. 2500; because the odds are 2.20 if the bet wins we get back Rs. 5500 of which Rs. 3000 is our winnings. Now let’s say in this match Bangalore jumps off to such a great start that the In-Play odds become Bangalore 1.75 / Chennai 1.95. If we wanted to we can now lock up a guaranteed profit. All we’d need to do to take our full profit is bet Rs. 2820.51 on Chennai at 1.95. To illustrate this:
Bet One: Rs. 2500 @ 2.20 odds Returns Rs. 5500.
Bet Two: Rs. 2820.51 @ 1.95 odds returns Rs. 5500
You see we get a return of Rs. 5500 no matter which team wins. We’ve staked 2500+2820.51 which equals Rs. 5320.51 – so we can now see no matter which team wins we make a (5550-5320.51) profit of Rs. 179.49. This is the figure Betfair will charge us a 5% commission on, because this is the “net market win”. So of our 179.49 Betfair keeps Rs. 8.97 and we keep Rs. 170.52.
I kept this example quite simple and used typical bookmaker odds so it was easier to understand. There are a few other features about Betfair that help make live trading more lucrative. For starters the odds wouldn’t have been Bangalore 1.75 / Chennai 1.95 as that’s a large gap you’ll find at Bookmakers due to their advantage (called vig). If those were the odds Bookmakers were using, we’d probably have found closer to Bangalore 1.90 / Chennai 2.10 at Betfair. In this case we could have structured our bet in such a way we’d have a guaranteed return of Rs. 380 of which Betfair takes Rs. 19 and we keep Rs. 361.
The other factor is Betfair offers a back and lay system. To back is to bet on a team to win, and to lay is to bet that team will lose. Using this feature we could have simply made our in-play bet on Bangalore to lose, and with that we didn’t even need to have any balance left in our account (or to risk any additional balance) because Betfair would allow us to use the existing back wager to place a lay wager. If this is confusing don’t worry at all, Betfair also has a button called “Cash Out”. When using this feature it allows you to get out of whatever wager you’ve made. This can be used to lock in a win or to limit a loss.
If you’re overwhelmed know this. If you start off with small stakes and use the Betfair system for a while you’ll soon see it is nowhere near as difficult as it might seem. Once you get some practice, it won’t be long before you’re an expert at executing live in-play trades on betting markets.
Live Betting Strategy
Most live betting strategy comes from gaining a feel for markets, which is something that comes with practice over time. As I mentioned, I love to wager on Woman’s Volleyball, especially AVC and other International competitions where there are many lopsided matches. Here I learned that heavy dogs generally have lots of value on a point by point basis, where heavy favourites have great value on races to five. Now this is something that’s taking place currently, in the future that might change, and I’ll need to gain a new feel for the market and adjust my strategy appropriately. If you’re a fan of a sport and you watch the odds along with the matches, you’ll very likely start to gain a good feel for the market.
As far as actual strategy goes – most of the In-Play strategy you’ll find discussed on betting forums involves live trading at Betfair. One popular live trading system is to lay the draw in football. Basically you start with making a lay wager on the draw, which is making a bet the draw will not occur. As soon there is a score in the game you then back the draw at better odds for a guaranteed profit. For more details on this refer to the lower section of my article on football betting.
Another strategy is to find teams that are generally heavy favourites, but tend to get off to slow starts. If you can spot frequent situations like this there are two things you can do. The first is if you like the team to win the match and would have bet them regardless, you can standby, watch the match, and wait for it to progress a little in hope the odds get better. The second situation is for times you don’t want to actually bet the favorite, you only want to benefit from your expectation that they’ll start off slow. In this case lay them at Betfair and once they do get off to a slow start back them for a guaranteed profit.
While there are many strategies that can be used to make live betting profitable, this is also a great source of entertainment. For anyone new to live in-play betting I suggest starting with www.bet365.com. If after gaining some experience you feel you have a winning strategy down pat, consider using other sites. As a final tip, live betting can be tilt inducing as the number of wagering options for a match is many and streaks due to happen. Losing your entire account balance chasing losses on some single match is foolish; it’s even more foolish when it’s a sport you don’t even follow. For this reason be 100% sure to set limits, and keep your emotions intact. As long as you do this live betting is a lot of fun, can be profitable, and we wish you the best of luck.