Live Betting: Increased Dangers & Risks of In-Game Wagers
Published:
Jun 20, 2024
Sports betting continues to become more prevalent with the increase in states that are legalizing the activity. As it becomes more widespread, so does the variety of ways in which sports betting can be done. That includes “live betting” which involves placing wagers as the game is being played. Given the increased risk that comes along with it, it’s extremely important to understand the risks.
What is live in-game sports betting?
Live, or in-game, betting is just as it sounds - placing wagers while an event is going on. You may also see it labeled as in-play betting, but it all comes back to the same thing, which is placing bets while a contest is in action.
How popular is live in-game wagering?
As you can imagine, in-game wagering has become more and more popular, and it’s for a multitude of reasons. First and foremost, the sheer volume of sports bettors has increased in recent years with the rise of new states legalized online sports betting.
Even prior to online sports betting being legalized in new states, such as North Carolina in March of 2024, live betting was the preferred type of wager for 32% of sports bettors as of August 2023.
The online portion of legalized sports betting is also a factor as to why live betting has become so popular. There is such ease in doing so, as it can be done on mobile phones while out watching a game, or even while at the sporting event itself.
With that comes a social aspect as well. In other words, being around friends and other fans who can also bet on the game at the same time provides an increase in the likelihood of taking part.
The dangers & risks of live in-game sports betting
The same reasons that have made in-game wagering so popular are also directly related to what makes it can be much riskier than pre-match betting. First and foremost, the influence of other fans and the emotion of a game itself can severely impact the way that wagers are placed.
If one is watching or attending a sporting event, the chances are that they are doing so because they are invested in some way or another, oftentimes emotionally. This can lead to wagers being placed that are void of logic, and rather based on emotion. This alone makes in-game wagering extremely dangerous, and that’s not all.
Apart from bettors increasing the risk themselves, so can the sportsbooks. With so much action happening in real time, the odds of the betting markets change extremely rapidly, which can often lead to the submission of wagers that are made at unintended prices. That is bad enough, but it can be compounded with the ability to chase.
Chasing losses is already one of the key things to avoid when sports betting in general, but live wagering makes it so readily available that it draws in bettors to not abide by that guideline. Furthermore, losing, and even hitting, bets while they are currently happening provides that instant emotion that hits much harder than placing a wager pre-match and having to wait for the outcome.
That chase for instant gratification also correlates to the phenomenon that is the fear of missing out, or FOMO. Having so many options within live betting, along with seeing others partake, can often lead to chasing, as the opportunities are right at your fingertips.
The combination of the influence of others, emotion of games, desire for instant gratification and more all make in-game wagering significantly riskier than other conventional betting.
Sports Betting addiction help, resources & treatment
Due to the increased risk, it’s vital to be aware of the sports betting addiction resources that are available. That includes Birches Health, which has proven to be a beneficial form of treatment for sports fans across the country. Thanks to being an online help center, assistance can be provided by licensed professionals while at home and on the patient’s schedule.
Sources:
What is Live Betting? How to Make In-Play Bets | Odds Shark
