As we’re sure you know, betting comes in many shapes and forms, and as the common expression goes, there’s more than one way to skin a cat. However, most bettors will have a tried and tested method that they swear by, rarely changing tactics unless there’s an incredibly tempting reason to do so, such as an expert tip or a bookmaker’s promotion that’s just too good to ignore.
In this article, we’ll explore two common betting methods, taking a closer look at their pros and cons before giving you the information you need to make an informed decision.
Understanding the different types of betting
For many sports bettors, live betting and pre-match betting are key to how they place bets and aim to win big. Many will look at the weekend’s fixtures, pick their favorite matches, assess the odds and then place wagers on them either individually or as part of an acca (also known as an accumulator). For casual bettors, this might be enough, but bookmakers still often use enhanced odds and other promotions to entice punters to make pre-match bets.
Players can then take traditional betting to the next level by placing live bets during the match to capitalize on shifting odds or new information that has come to light. Many bookmakers also allow bettors to ‘cash out’ during the match, which can be handy for those wanting to place live bets without necessarily needing to stump up more cash – instead, they can pull their existing wager and reallocate their investment.
Live betting – the pros and cons
Live betting, called in-play betting by some bookmakers, makes it easy to place bets once the match has already started, which can be handy for those who are either forgetful or want to react to changes in real time, such as a team scoring early in the game or a key player being substituted.
Live betting makes it easier for sharp-eyed bettors to make money from odds changing during the game, as well as being able to react to events that are likely to have a large impact on the final result – and understandably, you can expect great returns on these types of bets.
Pros of live betting
1 – Greater flexibility
By placing your bets once the game has started, you can better react to changes happening in real time, instead of relying on information announced before the players have finished warming up or preparing for the game. It also means that you can react quicker to in-game events, such as a dismissal or injury to a key player.
2 – More opportunities to win
As the state of the game changes, players can bet on more events. If a game is still 1-0 heading into injury time, it may be worth betting on the opposition scoring a last-minute equalizer, as they will likely have more motivation to attack.
3 – It’s a new addition to the betting world
Live betting is a fairly new addition to the offering, even for those who bet almost exclusively online, making it a fun and exciting way to change your usual routine. To learn more about the different options available online, you can explore Time2play’s list of the best live betting sites and see if anything catches your eye.
Cons of live betting
1 – Things move quickly
Even if you’ve been around the block a few times and know your way around the betting world, reacting to real-time events can be challenging, especially when bookmakers don’t update their odds quickly enough for you to capitalize.
2 – Potential for impulsivity
If you find that you change your mind often or are prone to acting against your own strategy, this might not be the best way to bet, as you could cost yourself a win by losing confidence prematurely and pulling your money while still making a loss.
Pre-match betting – the pros and cons
Pre-match betting is a style of betting in which players place their bets before the game begins. This is perhaps the most common form of sports betting as it allows players to make educated decisions based on readily available information and odds published well in advance of an event.
It’s easy for bettors to compare the odds for certain outcomes and events before the game starts, thanks to aggregators and odds comparison sites. Many bettors say that this makes it easier for them to do their own research beforehand and benefit from special promotions offered in the run-up.
Pros of pre-match betting
1 – More confidence in your decisions
If you have the time to do your own research before an interesting match, perhaps discovering that the opposition team’s star striker rarely scores when it’s not raining, you’ll likely feel more confident in the bets you place coming through.
2 – Lower chance of impulsive betting
Because you can place these bets beforehand, there’s less chance of doing something on the spur of the moment, such as deciding to back a team that you wouldn’t normally rate, just because the odds are very enticing.
3 – Lower odds volatility
Because the information that dictates the odds is freely available, volatility is lower and it’s easier to compare one site to another, as well as place lay bets using betting exchange sites, which can add another dimension to the action.
Cons of pre-match betting
1 – Once you’re in, you’re in
Be sure to check if you can make changes to your bet once the game begins, and if there’s a cash out mechanism, as many enjoy having this flexibility should injury strike or your underdog team take an unexpected early lead.
2 – Limited to pre-game information
If your betting site doesn’t allow you to cash out your bet, you could find yourself in trouble should the star player pick up a last-minute injury while warming up – that could throw your bet completely out of the window!
Deciding which type of betting is best for your playing style
If you prefer to take a more calculated approach, enjoy doing your research and can confidently say that you trust your own processes, pre-match betting might be a good choice. However, if you’re able to quickly digest new information and are willing to shift strategies should more current information come to light, then live betting could be the better option.
We’re sure that you, like most other bettors, will always sway in one direction more than the other, and likely already have a preferred betting strategy, but if you can Live blend both approaches and create your own strategy that utilizes the pros of each while also mitigating the cons as best as possible, you could be on the path towards success.
Final thoughts
Betting gives us a lot to think about, including how to develop our own betting strategy, how comfortable we are with risk and what our ultimate goals are, but by finding the right balance when placing our bets, we have the biggest chance of achieving the best possible result. No matter how you prefer to gamble, we recommend taking some time to assess the pros and cons of each wager and sticking with what feels right.
