Live betting, or in-play betting, is the act of placing a bet during a sport or horse racing event.
The practice of online live betting is prohibited in Australia under the Interactive Gambling Act 2001. However, there is an important stipulation, ‘in-play’ betting for sports played over multiple days, where the action has ceased for a particular day, is permitted. Examples of sports where in-play betting is allowed between live action are cricket matches, golf tournaments, cycling events and tennis tournaments.
While live online betting is not allowed in Australia, placing a bet during a live match via telephone is. The process is somewhat cumbersome and certainly acts as a deterrent against live betting.
All betting companies in Australia accept live bets via telephone. However, some offer more markets than others; this normally depends on the popularity of the event at any given time.
The number of markets available for live betting purposes is significantly less than is available pre-match because the odds fluctuate at every moment, and it is difficult for the bookmaker to field lots of markets. However, popular bet types like head to head betting, each way betting and margin betting are normally available.
The best betting company to place live bets with in Australia is Betfair. The reason for this is that the exchange platform lends itself perfectly to the wild fluctuations that can result due to the ebbs and flows of a sporting contest. Whereas a bookmaker must set a market for each moment during a live event, prices on a betting exchange change as users place their bets; therefore, the market requires little management.
Live betting can be particularly exciting given the fluctuations in prices throughout a sports contest. It is more important than ever to remember to execute sound betting practises when betting in-play. The use of betting tools can be particularly useful; bettors should track all of their bets and manage their money with extra diligence.
It is now commonplace for betting operators to offer live streaming on events like horse racing, AFL and tennis. If you stream a tennis match from a bookmaker, expect to see some markets to the side of the screen displaying odds that update regularly right before your eyes. However, Australian customers must still phone through their live bets.