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One of the developments in online bookmaking over the last 15 has been the live sportsbook. Betting sites have added a number of live features to their service which have enhanced the betting experience.

In football live betting amounted to little more than updated odds for the three-way match result while the fixture was taken place. Betting companies have introduced new services which have contributed to the concept of a live online sportsbook and this article will examine those services.

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WELCOME OFFERS FOR LIVE SPORTSBOOK

All the major digital bookmakers have a welcome offer for new customers. These offers usually come in the form of free bets. There is often a qualifying bet which is subject to time and odds restrictions. Welcome offers come in the form of a matched deposit bonus, matched bet bonus or free bets. The free bets can be used on in-play markets, which are an important element of a live sportsbook. Live betting is one of the features of an online sportsbook that attracts new customers and maintains the loyalty of existing customers.

OTHER PROMOTIONS

Live online sportsbook operators provide existing customers with a range of dynamic promotions which are often sports and event specific. Some of these promotions relate to live betting events. For example, one major online and retail bookmaker boosts the odds if a backed player in a football match scores the first goal and then scores one or two more goals during the game. This offer allows live bettors to trade on the match and in particular the player to score the next goal. This type of trading is possible due to the number of games that a live online sportsbook covers in the live environment over several sports.

LIVE BETTING SPORTS

Online bookmakers offer betting options on up to 50 sports. These include the most popular betting sports and some of the more obscure. An important element of the service is features that create a live online sportsbook experience. Sports are displayed in Popular lists and an A-Z list of the betting sports. Many of these sports contribute to the live sportsbook range of products and services.

Customers can bet on an extensive range of sports, and many of these feature live betting. In addition to the standard sports, gamblers can place bets on virtual sports, Esports, Politics and TV and Entertainment. Betting is available during TV contests, and enhances the live service. For example, bookmakers update odds during the Eurovision Song Contest, and live online sportsbook betting is popular during the voting process. Bookmakers provide novelty betting markets and specials, but here’s more information about the three most popular standard betting sports:

Football

Football is easily the most popular betting sport and the most bet on league is the Premier League in England. It was the close season when this article was being written, which means the biggest upcoming football match was the final of the Champions League between Liverpool and Tottenham in Madrid at the start of June. Bookmakers offered a vast array of in-play markets which enhanced the live online sportsbook betting service. The most popular in-play markets are the match result, totals, handicaps, correct score and the team and player scorer of the next goal.

Tennis

Tennis is the second most popular betting sport with customers in the UK and the rest of Europe. It is one sport which attracts more in-play bets than pre-match bets. Tennis is a key element of any live online sportsbook service. The sport lends itself to live betting due to the fluctuations in the pay and the odds. There are changes in the betting after every point, and it is common for one player to be the favourite and outsider at different stages of the odds. Betting moves attract live online sportsbook customers because there are trading opportunities.

Horse Racing

Horse racing is still the core betting sports in betting offices in the UK, so customers expect a decent online horse racing service. The major bookmakers now allow customers to bet on hordes racing during the race. Betting exchanges attract in-play bets which contribute to a live online sportsbook. Live streaming is available if a customer places a bet. The sites also feature a graphical representation of each race, and this service is an essential part of the live betting experience. There is a huge amount of turnover during the major jumps’ races like the Cheltenham Gold Cup and Grand National and less for the major Flat races because there is less time.

LIVE ONLINE SPORTSBOOK SERVICES

There are a number of elements of a bookmaker’s website which contribute to live online sportsbook gambling and are common to most operators. Live betting is now hugely popular, and five of the features that contribute to its popularity are described below:

Betting

There has been a massive increase in the number of live betting sports, leagues and markets over the last 15 years. The first live online sportsbook tennis event took place in 2003, and since then the number of live tennis matches has increased by huge numbers. There are now numerous in-play football matches, and other popular sports for live betting are cricket, snooker and golf. Live online sportsbook betting is hugely popular with customers in all parts of the world, especially on major football matches.

Streaming

Betting turnover increases when a sporting event is shown live on television. The same can be said when customers have access to live streaming when they place a bet on an event. Football, tennis and horse racing get most live streaming, which enhances the live online sportsbook coverage. There is also live streaming of fixtures in cricket, rugby league and rugby union and several other sports. Streaming enhances the live betting experience, and the picture quality is usually excellent.

Live Chat

The quality of customer service is an important element of a live online sportsbook. Customers can usually contact support staff by phone, email and postal address. However, for the quickest response, the best method is the Live Chat facility. Customers can communicate with a representative in real time and discuss queries. Operators that do not offer this facility provide an inferior live online sportsbook service, but most do provide the option as part of their customer service.

Statistics

Match statistics help bettors make betting decisions, and that makes the online live sportsbook service better. The most popular statistics concern head-to-head results between two teams in a football match. Player statistics are also popular and now many elements of a football match are analysed by player. Scoring statistics help customers place bets in both teams to score and over/under goals betting markets. There are many sources for detailed statistics for football matches.

Match Updates

Customers have access to match updates during a live online sportsbook fixture. Bookmakers provide a blog of the key events such as goals, corners, penalties and yellow and red cards. These events are reported as they happen and live updates make for a better in-play betting environment. Live betting interfaces also report on the number of attacks and dangerous attacks created by both teams. If there is no live streaming, bettors can view a graphical representation of the progress of play.

Cash Out

A relatively recent development in live online sportsbook betting is the cash out facility. Before this feature was introduced, customers placed a bet which they had to leave until expiry, and the final result was known. Betting exchange customers have always been able to trade a winning or losing position by placing a counter lay bet to the original back bet or vice versa. The cash out option replicates trading on a betting exchange and gives the bettor more control.

Bets can be cashed out before closure to guarantee a profit or limit the loss. Bookmakers offer a cash out amount which can be rejected or accepted. Bets can be fully or partially cashed out during an in-play event. The value of the cash out calculation is based on the original odds, stake and current odds. Timing is key to cashing out bets because a goal in a football match leads to a significant change in the odds. The cash out option is now part of the live online sportsbook industry.

CLOSING COMMENTS

Traditional bookmaking did not have any live elements in the past. Customers placed bets which were settled once the final outcome was known. Many facilities have been developed by bookmakers over the last 20 years, which have added to the live online sportsbook product and attracted new customers and rewarded the loyalty of existing customers. There will be more innovations because the UK betting industry is highly competitive and customers want the best live online sportsbook service.

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