The gambling industry has been evolving ever since and technology has been at the centre of the changes that have been taking place. The industry started as a land-based industry with betting outlets spread all over the world but that had its own obvious limitations as punters had to take a trip to the bet shop to place bets, something which can be an inconvenient. The limitations of land based betting necessitated the introduction of online betting and the industry have never been the same ever since.
One of the recently introduced forms of online sports betting in South Africa is Live Betting or In-play sports betting, which is allows punters to place bets on live matches after the match has already started, unlike the traditional betting method which only allowed prematch bets only.
Live betting offers more opportunities to punters as they can continue with their betting activities even when the event has already started and try to adjust their bets depending on how the event is progressing, things like red cards or injury to key players can have a huge impact on the match outcome. For example, if Barcelona were the odds-on favourite to win against Granada before kick-off and then Lionel Messi and Antoine Griezmann gets injured, the whole complexion of the game will change and the odds will change to reflect this.
What usually happens is that the bookmaker decides the odds by making use of a computer algorithm which is constantly updated with new information. So as the event progresses , if something significant happens, the bookmaker will suspend betting for a few moments so that the computer can work out the new odds.
What makes Live In-play betting special is the fact that it is very flexible in that punters have the opportunity to redeem themselves, to place counter bets than the ones earlier placed in order to win for themselves.
Since in-play was introduced in the betting industry, it has enabled the various bookmakers to increase the number of markets in sports betting, so In play is beneficial to both the punters and the bookmakers. Some of the markets available for in-play betting are (number of cautions (red or yellow cards) in either the first or second half, score lines in either of the two halves)
Most of the bookmakers which offer in play betting also have the cash out feature which allows punters the opportunity to get the money back on their bets before the event they are betting on is over.