Live Sports Betting In Kentucky
Live betting is the evolution of sports betting. First and foremost, it’s truly live, as you place bets at odds that change alongside the action. In fact, odds will update for just about every play or change of possession.
Because of the odds-updating speeds, true live betting (aka ‘in-play betting’) is available only with mobile sportsbook apps. You need to act quickly to book a bet at odds you like before they change again.
With online sports betting due to launch in 2023, here’s a guide to live betting in Kentucky, including detailed explanations of what live bets are available and an even closer look at live odds.
Live betting odds
Proprietary algorithms designed by mobile sportsbook app software developers generate live sports betting odds. It’s simply too much work to do manually. While real-life oddsmakers would find it nearly impossible to keep up, computer algorithms can process it all in seconds.
Ultimately, the odds generated reflect the probability of a particular outcome based on various events that occur in a game, like scoring or a change of possession. That outcome is then further processed to generate new live moneylines, spreads, and totals you can bet on.
Even if every sportsbook app in Kentucky used the same algorithm, which they do not, it is conceivable that each would still offer different live odds simultaneously for the same games. That’s because every online sportsbook adds its unique edge to the odds.
How to place a live bet in KY
Live bets can easily be placed using licensed Kentucky sportsbook apps. However, making good live bets requires you to focus on both the game and the changing odds on the live betting app.
You need to be quick, as it may only be a few seconds before live sports odds change and the bet you wanted to place is no longer available. The odds can change with almost every play in a game. That means you’ve got somewhere between 10 and 20 seconds to act if you like a bet before the odds change again.
Live sports betting certainly isn’t for everyone. However, live betting can significantly enhance the game-watching and betting experience for those who can:
- Focus their attention on what’s happening in the game and with the odds.
- Understand the bets available.
- Act quickly enough to take advantage of an odds shift they view as favorable.
Download, install, sign-up and deposit
You need to download a licensed KY mobile sportsbook app, sign up for an account, and make a deposit before you can try live betting. Here’s how to do that in six simple steps:
- Go to any licensed Kentucky sportsbook’s website through the links on this page.
- Download and install the app on your phone or tablet through the link for Apple or Android devices.
- Open the app and start the account sign-up process through the ‘Register’ or ‘Sign Up’ button. (You can also sign up via the website.)
- Complete the registration forms by entering your name, email, last four digits of your Social Security number, and the bonus or promo code you found on this page.
- Accept the terms and conditions.
- Make a deposit using the most convenient method available, ranging from your debit card to your PayPal account.
Open the app, and you’ll find most live betting markets right up front or through the menu item that says ‘Live’ or ‘In-Play.’
Go there, browse the available bets, watch the odds change in real time, and click on those odds when they look favorable. Then, quickly enter the amount you want to bet and confirm your bet to place it.
A live betting example
In April 2023, during the second period of Game 5 of the NHL Playoffs First Round Series between the Tampa Bay Lightning and Toronto Maple Leafs, the score was tied 1-1, and the live odds board at Caesars Sportsbook looked like this:
|2ND | 19:21||Moneyline||Puck Line||Total Goals|
|Tampa Bay Lightning 1||+120||+1.5 (-240)||Over 6.5 (-125)|
|Toronto Maple Leafs 1||-150||-1.5 (+190)||Under 6.5 (-105)|
Just two minutes later, without any change in the scoring, the odds for two of the lines had changed several times and now looked like this:
|2ND | 17:22||Moneyline||Puck Line||Total Goals|
|Tampa Bay Lightning 1||+120||+1.5 (-250)||Over 6.5 (-115)|
|Toronto Maple Leafs 1||-150||-1.5 (+195)||Under 6.5 (-115)|
Then, Tampa Bay scored to take a 2-1 lead, and the live odds board now looked like this:
|2ND | 14:01||Moneyline||Puck Line||Total Goals|
|Tampa Bay Lightning 1||-160||-1.5 (-145)||Over 6.5 (-200)|
|Toronto Maple Leafs 1||+125||+1.5 (-180)||Under 6.5 (+160)|
In just a few minutes, Tampa Bay suddenly turned from underdog to live moneyline favorite. Plus, the 1.5-goal puck line flipped, and Tampa Bay became the favorite, giving up the 1.5-goal line. The totals line also went from even odds to the over being the favorite.
Advantages of live betting
Live betting can be a valuable tool for anyone who…
- Missed placing a bet ahead of a game;
- Wants to hedge what looks like a winning bet;
- Is interested in making up for a pregame betting mistake;
- Wants to add more action to their game-watching experience.
Live betting options available during a game often include spreads and alternative spreads, moneylines, and totals. You may even find an edge shopping around from app to app to see who has the best live odds for a game you’re watching.
In-play betting’s popularity
Live betting launched soon after online betting in the United States, but that was only a few years ago. It’s a relatively new thing that’s still getting off the ground in many respects. However, it’s gaining ground on pregame betting quite fast. Many legal online sportsbooks now report live betting makes up close to 25% of the total handle in most popular sports, and the numbers keep climbing.
It’s easy to see at least three reasons why live betting is gaining in popularity. First, there’s more of an opportunity to bet at different odds than you have before a game. The betting public has consistently proven they like choices.
Second, live betting allows you to bet with more and better information. Sports betting is and always has been a war of information. More informed bets are better bets, and there’s no better information about a game than what’s really happening during it.
Finally, there may be more of a chance to turn a profit with live betting. You can make up for pregame betting mistakes, turning a loss into a profit by taking the other side live. However, you can also take advantage of big swings in the odds, banking on favorites turned underdogs to make a comeback.
In the NHL Playoffs example above, the Toronto Maple Leafs came back from multiple-goal third-period deficits to win Games 3 and 4. The Leafs were the favorites or slight underdogs before the opening faceoffs. However, in the third period, Toronto was a massive live underdog, down two or three goals. Anyone who bet on the Leafs to win at that moment earned a huge profit compared to what they would have won betting on a favorite or slight underdog pregame.
Perhaps the NHL is not your thing. But you can probably imagine betting on a pregame favorite like the Kentucky Wildcats as underdogs when they get down a couple of buckets late. Do that, and you’ll see how live betting can be profitable and why its popularity is growing.
Live betting tips
The key to making the best live bets is crafting a plan, developing strategies and then being ready to pivot when the live odds swing in your favor. Here are some ways to begin forming your own live betting strategy.
- Betting on a pregame favorite that’s currently losing: Pregame favorites are usually the better team, and they’re always primed to make a comeback when trailing. If that happens, you can take advantage of longer odds than you’ll ever see before the game. More significant profits await if they can get back in the game and somehow win it.
- Understanding momentum: Momentum is vital in sports and live betting. When one side has it, the odds on the other will grow longer and longer. The thing is, momentum is bound to change. Once again, you can take advantage of the longer-than-normal odds that momentum swings provide by betting on momentum eventually changing again.
- Being ready to hedge: When one of your bets looks like a lock but you’re worried it might not be, you can ensure a percentage of the expected profits by hedging. That means betting on the other side live to guarantee yourself some profit no matter what happens. The cashout option may also be available, but hedging usually lets you keep more profits.
Live betting suspended
Sportsbooks regularly “suspend” live betting for a period of time during games. Sportsbooks will do this to update the odds accurately when something significant happens. They also do it late in games when the outcome looks like a lock.
Live betting lines and odds are updated as quickly as possible at most mobile sportsbook apps, but they are unavailable from time to time.