Live Betting: The Ultimate Guide for In-Play Betting in Canada

There is a lot bettors love about online sports betting and betting sites. One of the defining things for many bettors is the excitement, the way it transforms a game from a sporting event to an immersive, high-stakes experience. One of the best possible ways to get in on the action is through in-play betting, also known as live betting.

Live betting allows you to place bets on games that have already begun. With advanced algorithms that update the odds in real-time according to what is going on in the sporting event, just about every sports betting site worth its salt has live betting markets. It is an exciting way to add to the fun of an event and potentially win big.

In this live betting in Canada guide, we’ll break down everything you need to know about in-play betting. We’ll explore the best live betting sites, the mobile apps you can use to place live wagers, and some of the tips you need to be aware of to start making a killing placing live bets.

Before we dive deep into everything you need to know about live betting, let’s start at the very beginning and explore what it is. Live betting is a somewhat new addition to the world of sports betting, as it only became possible once technology reached the point where machine learning algorithms could generate live odds throughout a sporting event.

Live betting allows you to make a bet from the second a game kicks off to the final whistle, so you can get in on the action at any time. This offers bettors some unique ways to profit.

Consider this. If you just missed out on a bet you wanted to make, and the game started, you don't have to simply give up. You can bet the game throughout, so the game starting isn't the deadline it used to be. Or if you are watching an NFL game and are seeing something live that the live odds aren't reflecting, you can quickly hammer that with some live-betting NFL action and profit off the knowledge you have now that the game has begun. It is a convenient and fun way to enjoy betting.

What Are Live Betting Sites?

Live betting sites are exactly what they sound like. A live betting site is a sportsbook that offers in-play live betting. They offer odds and features for in-play live events, and many will have a dedicated live betting page where bettors can see games that are currently on and place wagers on them. In 2023, just about every major sportsbook you’ll find will have live betting features. It is incredibly common, and if a sportsbook doesn’t provide this must-have feature, you should consider betting elsewhere.

The world of sports betting is a complicated one, and nothing is ever straightforward. Sportsbooks provide features that are designed to give bettors fun and exciting options, but there are always upsides and downsides. Live betting is no different. The best live sports betting sites still have some pros and cons that it is important to be aware of. Let’s look at these differing pros and cons that you’ll find even when betting on a top live betting site.

Pros of Live Betting:

• Great for Mobile Betting → Live betting on your phone is a blast. Live betting has grown in popularity alongside mobile betting, and they work incredibly well in conjunction with one another. Live betting from your mobile device allows you the maximum amount of flexibility- you can bet on events that are already underway from wherever you are.
• Cash-Outs and Bet Hedges → Live betting and cashouts are another sportsbook combination that works extremely well together. Cashouts are when bettors exit a bet early, receiving money back according to how their bet is performing. With live betting and cashouts, you can be fully tuned into the action. Bettors can watch live to see if there are any changes they need to make an exit a bet in real-time. This option is also useful for hedging a bet. You can cash out or partial cash out and stake a certain amount on the opposite result to secure a guaranteed win.
• Rare Markets → Betting on live games also affords you new betting markets that you wouldn’t otherwise have access to if you bet exclusively on pre-game markets. Some of these include but are not limited to next team to score, next player to score, next team to earn a first down, or foul, or yellow card, or free kick, or whatever prop you might find. The options are endless.
• Opens Up More Betting Possibilities → One of the biggest upsides to enjoying live betting sites is that it allows bettors to access a huge amount of additional betting opportunities. There are rare markets, like the ones we mentioned above, but the door to placing bets closes a lot later. If you are live betting, the action really never stops. The odds are constantly changing, and there is so much to track and enjoy.

Cons of Live Betting:

• Requires a lot of Focus and Can Be Intrusive → When you bet on pre-game markets, it doesn't require the same focus and time investment. If you are constantly betting live, bettors have to pay close attention to changes in the game and odds to really have an edge. This makes it a time-consuming way of betting. While some bettors won't mind, for others, the whole point of betting is to place a bet and sit back and relax as it plays out. This isn't really how live betting works, particularly when bettors are live betting throughout the whole game. It can be time-consuming and require a lot of focus.
• Can Lead to Rushed Decisions → When bettors make bets, most like to really give everything the full weight of their thoughts. They like to ponder their options, think carefully, and make the most informed decision possible. This won’t always be possible when live betting. The odds are constantly changing and shifting, and when bettors see a line they like, they tend to jump on it. This can lead to
• Can Cause Overreactions → Impulsiveness is a curse for a lot of bettors, as it leads to sporadic decision-making. Live betting is certainly a feature that can harm bettors if they are prone to overreacting. Many bettors will place a pre-game bet and turn on a live event, and something will happen early in the game that will counter their initial bet. They will then cash out their initial bet and put the money on the other team. While this can work, overreacting to early events isn't a good idea. Live betting can harm bettors that don't stay the course.

Bettors have the option to live bet on just about every sport. Whether you are hoping to get in on the action by live betting NFL games, live betting UFC bouts, live betting NHL showdowns, or live betting NBA action, you're going to have plenty of options. Every sport is great for live betting, but some are considered better than others.

One popular sport for live betting is the NBA. This is because hundreds of points are scored in each NBA game, so odds and markets change at a rapid pace, which means if you can even slightly predict even a small time frame in the game, you could have success with your live bets. Basketball has a lot of ebbs and flows, where big leagues can be gone in a snap, and total lines can change dramatically as teams go on runs. Picking up on when a team is getting hot can lead to lucrative returns for the savvy live bettor.

Another one of the most popular live betting sports for bettors is football and the NFL. The NFL is as popular a league as there is in North America, and bettors go crazy for the non-stop action. Every year, there are teams that blow massive leads, including the 2022-23 NFL season, where the Colts blew a lead of more than 30 points. Imagine hitting a live bet on that! Read more about live betting on the NFL Super Bowl here - Super Bowl Betting

Other popular live betting sports include live betting tennis, live betting golf, and more. It is as popular a betting feature as there is, and there are plenty of markets for bettors to pick from. Let’s look at some of the most popular options you’ll find for live betting markets on the major online sportsbooks.

• Next Team to Score → this market concerns which team is most likely to score the next goal/touchdown/run/point in the game.
• Next Player to Score → this market concerns which player is most likely to score the next goal/touchdown/run/point in the game.
• Live Moneyline → this market offers updated odds on the Moneyline for the game in question based on the action that's already taken place.
• Live Total → this market offers updated odds on the over/under for any given game, which allows for those actually watching the action to get a solid handicap on where the game might go

Breaking down what live betting is will help you understand the basics. But there’s much more to this popular form of betting, and we can help you get started with strategies and in-play betting tips that will help you find success.

Below is a breakdown of some useful strategies to get the best live betting results.

• Pay Very Close Attention → With pre-game bets; you don't have to be paying much attention to a game to make smart bets. You can research and figure out your options beforehand. But with live betting, things are happening in real time without the chance for bettors to do research. So pay close attention to the game, and really consider every move that you make.
• Bet on Losing Favorites → One live betting strategy that many bettors utilize is that they will bet on favorites that have fallen behind in the game. They can then place a bet on the favorite with better, more favorable odds. We would recommend only doing this if the favorite is down by certain margins and if the game isn't too late. While big margins and late deficits lead to the biggest live payouts, they are also the least likely bets to hit.
• Branch Out → The three most common types of bets, even for live bets, are Moneyline, point spread, and points total bets. These are a blast, but they are not your only option. There are also plenty of live betting options for player props and game props, and these can provide an edge to the informed bettor. Look at the different markets a sportsbook provides and try some new, exciting live bets rather than just the standard options.
• Momentum Is Real (Or Is It?) → Our last live betting tip concerns momentum. While the existence of momentum remains up for debate, there’s no question that oddsmakers find a way to incorporate it into their live odds, so watching a game live and being able to find a feel for how the momentum is swinging can be a huge asset for a live bettor.

Live betting on every website will provide a different experience. Some websites have very basic live betting options, while others have expansive options with excellent user interfaces. For each sport, there are betting sites that will appeal to bettors more than others because the live betting sports options are different on every site. Below, we've broken down the different sportsbooks we'd recommend based on the sport you like.

Live betting and mobile betting are two key parts of the modern sports betting world that have evolved alongside each other. Both have a lot to do with the modern bettors’ love for convenience and immediacy. With live betting, you can bet throughout an event without the same need for a time crunch. With betting apps, you can bet on the go from your phone. Just about all betting apps provide live betting features.

Nowadays, sportsbooks are reliant on mobile bettors. There are millions of smartphone users across Canada and the United States who love online betting from their phones, so sportsbooks create betting apps to accommodate that great demand. Mobile betting and live betting are the perfect marriage, as bettors can place bets anytime, anywhere, on games before or after they've started, making it easy, fun, and convenient.

If you’re hoping to get in on the live betting mobile action, there are several mobile options that make up the best in-play betting apps. The ones that we might recommend to users are PowerPlay, 888Sport, and Bodog, which have fun live features and mobile-friendly designs for both Android and iOS users.