Sports betting online, or via a mobile bookmakers’ app, is a convenient perk of the modern world. You can enjoy the thrill of having a flutter on a sporting event anywhere, anytime, whenever the fancy takes you.

However, it pays to know the basics of what sports betting has to offer before you start risking your money on wagers. In particular, you should know the difference between live betting and futures betting.

Futures Betting Explained

All sports betting is a bet on the future, of course. But “futures betting”, specifically, refers to betting on events in the distant future, rather than results that will be determined by the current day’s play.

Betting on the Super Bowl winner when the regular football season is just kicking off is an example of futures betting, as is picking the winner of the English Premier League before the soccer season starts. Placing a bet on the Wimbledon final, the US Masters or the Tour de France before those tournaments begin would also qualify.

Live Betting Or Micro-Betting

Live betting, in contrast, refers to betting that takes place once a tournament or match is already under way. It is also called micro-betting, because you are placing a series of wagers on trivial aspects of the game, rather than a bet on the major outcome: the result.

So a cricket bet on whether a bowler will take a wicket in his next over, a basketball bet on which team will be penalised next for a foul, or a football bet that predicts the first yellow card in a match before half-time, all count as examples of live betting.

The secret to live betting is to only wager amounts you can afford to lose, no matter how small the returns might be, and to keep up those wagers consistently. Increasing your bets trying to offset losses or maximise the wins “you are owed” after a losing streak is a recipe for disaster.

How To Bet More Effectively

If you enjoy live betting, in order to get the most out of the pastime, you need to devote some time to it. While contests in your chosen sport are being played, you need to follow the action and consider the match position at any point against the available live betting options. Flexibility and the ability to adapt to different match conditions is the hallmark of good live betting.

Futures betting doesn’t require quite the same level of attention, but you do have to remain aware of the general situation in your chosen sport in the run-up to your bet coming off or not. An injury mid-season could drastically alter a team’s chances, for instance.

A few upset wins by underdogs could change the odds at the top of the log, requiring you to hedge bets, so that you turn a profit whichever one of your chosen competitors wins. If the odds have turned drastically against you, you may even be able to surrender the bet early, and thus lose less than you would if you allowed the bet to ride until the event.