Live betting itself is a feature which is made up of several other features, which all come together to provide an exciting and entertaining addition to sports betting.
Many different bookmakers will offer some, or all, of these features, whilst others may come up with their own unique in-play markets as a way of beating the competition.
The quality and number of in-play features offered by an online bookmaker will determine whether customers return to the site or go elsewhere.
These features are explained below.
Cash-out is probably the most popular in-play feature, because it allows punters to lose less money, or sometimes make a small profit, if their bet isn’t coming in.
Most bookmakers offer cash-out on single and multiple bets in a wide-range of different sports. The site will tell you which events include cash-out with a symbol representing this feature. This can be anything from the letters ‘CO’ to a circular arrow.
When betting on an event which includes the cash-out feature, you will be able to keep an eye on the action as it happens and cash-out at any time during the event.
So, if we say you placed a 5-team football accumulator that will possibly pay 100 for a 1 stake. All five teams are winning with ten minutes left, and your cash-out value is 78.
If you choose to take this amount, you will be 77 in profit and won’t have to worry that an opposition team will equalise in stoppage time. Whereas if you choose to let the bet run and it wins, you will win 100, but if it doesn’t win you will receive 0.
It works well for losing bets as well, because it sometimes allows the punter to make less of a loss. Let’s say you placed a 20 bet on two football teams to win. One of them is 2-0 up with a few minutes remaining, but the other is drawing 1-1.
The online bookmaker may offer you 10 as a cash-out value. This is a loss of 10 but a gain of 5 compared with what you would lose if the matches end the same way. Obviously, this has its drawbacks. The team drawing 1-1 may score a winner after you hit cash-out and you’ve made a loss instead of what would have been a healthy profit.
Originally unique to football markets, cash-out is now widely available on bets covering many different sports and markets.
As the name suggests, this is similar to the above cash-out feature but allows the customer to take a percentage of their possible winnings whilst letting their bet run with the remainder.
This can mean a customer effectively winning twice with the same bet.
How it works is that your original stake is split into percentages. Most bookmakers who offer this facility, such as Coral, allow you to partially cash-out a minimum of 10%. Whichever percentage you partially cash-out will be taken from the original stake and the site will calculate your new potential winnings and a new cash-out or partial cash-out value.
So, here’s an example using a stake of 10 on an event with a total potential pay out of 100.
At some point, your cash-out value may be 20 so you partially cash-out 50% to receive 10 back. This means you have broken even regardless of the result. But, it also means that your original stake is now halved, as is the amount you could potentially win.
So, you 10 stake becomes 5 and your potential winnings of 100 becomes 50.
Meaning that your overall potential winnings have lowered from 100 to 60.
It is possible to cash out again, as many times as you would like until your stake is at 10% of the original stake you placed. In this case, that would be 1.
This feature is ever-growing in popularity and more bookmakers are offering it.
A quick bet was introduced by online bookmakers to allow punters to place bets in less time, meaning they can pick a selection and place a bet on it without the need to navigate through several pages.
Some bookmakers allow its users to simply click on the outcome they want to bet on and a quick bet slip will pop up on the screen. The punter then selects an amount and clicks on place bet.
This is especially useful in live betting as it prevents having to select your desired bets, then go to a separate page to place the bet.
In that few seconds, or possibly minutes, it may take for the site to navigate away from the betting markets page to the slip, a goal may have been scored or something else happened to change the odds or make the bet not worth placing.
With quick bet, the bet is placed pretty much instantaneously, although some sites do have a countdown clock which is usually around 3-5 seconds.
This is a fantastic feature for live betting, which allows the customer to watch the football match or horse race they are betting on as it happens.
Many online bookmakers offer this feature to all customers who meet a certain wagering amount. Once that amount has been wagered on a sporting event, the customer will be able to live stream the action through the sportsbook when signed in to their account.
Being able to watch the event live can give you a better feel of what the possible outcome will be. It allows you to see every action as it happens and make a better judgement before placing an in-play bet or cashing out a bet you placed earlier.
Some punters will place a bet on a sporting event just to take advantage of the live streaming feature.
This feature gives a list of the latest scores in pretty much every sporting event as it happens, so you can stay up to date with how your bet is going throughout.
Most bookmakers will have a section on their website for in-play betting, where they will have a list of live scores and ever-changing live betting odds. The customer can visit this page, watch the scores change as goals go in or points are scored, and then place an in-play bet accordingly.
Another feature of live betting which comes in useful is live statistics, which can usually be found by clicking on a certain sporting event from the live scores page.
A customer can click on an event of their choice, whether it’s football, tennis, or even darts, and see in-depth statistics for it.
So, with football, you will be able to see the live score, possession stats, shots on goal, yellow and red cards, corners, etc. With darts, you will see number of 180’s, leg and set score, and three-dart averages.
Basically, any statistics that show how the event is going and give indicators as to the possible outcome will be shown here.
This will allow you to make a more informed choice when placing an in-play bet or cashing out a bet you placed earlier.