What is In Running Betting?
Betting in running is a more modern type of betting where the punter is able to bet on an event as it happens. The odds are adjusted after the event starts to reflect how it has begun and what is expected to unfold as the event goes on. The odds are continually updated until betting closes either shortly before the event ends or as the event ends.
Where Can Someone Bet In Running?
Most bookmakers allow betting in running. The amount of sports covered and markets available will always depend on the bookmaker so it is worth looking around during events or emailing the customer services to find out what is covered. New events and markets are always being added making it sometimes difficult to keep up.
Betting in running is also available on exchanges where punters will be betting against each other. There are fewer periods where the event is suspended on Betfair as the company doesn't have to protect themselves due to it being the punter's responsibility to keep track of where there money is.
Ten Top Tips For Betting In Running
- Give it 100% concentration
- Make sure you understand everything about the market you are betting on
- If you cant make quick decisions don’t bet in running
- What’s your edge? Why do you know more than the bookie or other exchange users?
- Find out about all the markets available in running on your chosen event
- Follow bookmaker odds as well as exchanges
- Have a strategy before you start and stick to it
- Be wary of time delays
- Be careful about leaving bets unmatched
- Learn from your mistakes
On What Sports Is In Running Betting Available?
These days most sports that are shown live can be backed in running. Most bookmakers offer a number of in running markets for sports such as football, rugby, cricket and snooker but in running betting on horse racing is usually only available on exchanges.
Learning To Bet In Running
In running betting can be very difficult to learn as judgements and bets have to be made in a split second on many occasions. The best strategy to begin with is to bet very small and keep track of all bets and returns that are made. After a month or so you will be able to see which sports you are making a profit from with your in running bets (if any) and then you will be able to slowly increase your stakes on the profitable ones and stop betting on the non-profitable ones.
The odds normally range between 1/100 and 1000/1 for betting in running and it is surprising how many 1/100 shots are beaten. Sometimes it is careless bets on the exchanges but also horses coming from miles back and football teams coming from three goals down or more can cause this sort of price to be beaten.
The Man City Comeback
1.01 shots are regularly beaten. One of the most famous 1.01s beaten was in February 2004 when Spurs were 3-0 up against ten man Man City in the FA Cup at half time. Plenty of money was traded at 1.01 on the Spurs victory but Man City ended up winning the game 4-3. Many fingers were burnt.
Learning From Mistakes
It is also imperative to learn from mistakes. There are normally two types of in running punter. Those who back to big stakes on shorter priced selections and those who try to pick the very high odds value selections. Backing at short prices can be profitable in the short term but a high strike rate is required to maintain profitability, whereas one winner every so often can be very profitable for those who back at bigger odds. It only takes one short price reversal to clean someone out so beware backing short prices and if you do, learn which ones aren't profitable so they can be avoided in the future.
As in running betting betting revolves mostly around events that are live on television it is important to question how 'live' the images you are watching really are. If you are watching the event on satellite TV then in all likelihood you are seeing things at least three or four seconds after they have already happened and if you are watching in HD then it could be as much as seven or eight seconds behind. Anyone who is actually at the course or stadium is going to be at a major advantage.
The Horse Has Already Fallen
In a horse race over the jumps someone at the course could put up a lay on an exchange such as Betfair on a horse that has just fallen. Someone watching the race at home is going to be seeing a horse approaching a fence or hurdle at this point so may still have a bet, only to see the horse fall immediately. Even on a short flat race the on course punter is going to have seen almost half a furlong of extra action than the person betting at the same time from home.
One of the most common mistakes a beginner can make is to leave bets unmatched when betting in running on exchanges. When betting on dynamic markets a bet can be put up at realistic odds and soon after can become an absolute steal of a price for someone else to match. If a bet doesn't get matched at your preferred odds, withdraw it straight away.
Speed of Events
Some sports that allow in running betting can be over a minute (horse racing) and some can last a whole day or longer (cricket matches). Some punters, however good at gambling, just cannot handle the intense trading that can go on in such a short space of time so they have to stick to betting in running on slower events. The quicker the changes take place in the market the more likely someone is to make a mistake.
OLBG member DAVIDADAN has an interesting piece of advice to take heed of when betting in running on any televised event and you can read his thoughts here.