Definition:
In sports betting, a live bet (also called an in-game bet) is a wager placed after a game has already started. Odds and lines adjust in real time based on what’s happening in the game - such as scoring, injuries, or momentum shifts.
They serve two main purposes:
Allow bettors to react to the flow of the game and place wagers based on real-time performance.
Create dynamic opportunities with changing odds, which can be used to hedge or find value mid-game.
Real-World Example
NFL Game: Los Angeles Rams vs. Seattle Seahawks
Before kickoff: Rams are –140 favorites on the moneyline.
After the Seahawks score an early touchdown: Rams shift to +110 underdogs.
A bettor places a $100 live bet on the Rams at +110.
If the Rams come back and win, the bettor profits $110.
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