Before playing any kind of game either on sports or on casino it’s important to know about the ODD first, what exactly ODDS are. ODDS are basically a mathematical term that represent the probability of potential outcome that will be get generated while you play any game. ODDS are usually expressed in either decimal or in fractional format. A well known example to explain the concept behind ODDS can be represented via a coin used for toss in any football match. So by flipping a two sided coin, you can judge the probability of tails and heads, the probability of landing tails up is one out of two, and in the same way the probability of landing heads up is one out of two. So in terms of ratio the probability factor for tails can be expressed as 1:2 and in the same way the probability factor for heads can be expressed as 1:2. And in percentage, it can be expressed as 50-50, means there are 50% chance that either tails or heads will land out.
So just like coin a die has six sides and a standard deck has 52 playing cards and a roulette wheel has 37 or 38 slots. Probability varies according to these numbers and each game has different- different probability to win or loss.
In case of LIVE betting the games are usually played on fixed ODDS betting. In LIVE sports betting the Professional punter usually judge the flow of the game and the action before placing bet. You can judge the live betting on sports from sports book as there are several sportsbook available in the market. The offers on live betting market always vary according to game. For example in some of the markets on live betting on sports the markets are briefly re-opened in the first half, which means a punter can place a bet at the second half of game depending upon what they have seen in the first half of match. But some sports like football offers dynamic live betting markets where punter are allowed to place bet in real time. The game of Golf also does offer LIVE betting where punters are allowed to bet on tournament winner at any time.
Live betting is some sort of an art form where the punter needs to be a quick decision maker before placing money on any bet. A good knowledge about the sports on which bet is being placed is required, which can payout some good money. One the most preferable thing on placing bet while live betting is to place smaller bets on several markets rather than placing a single high ODD massive bet on a single market.