In-Play Betting
In-play (live) betting lets players bet on an event after it has started, with odds recalculated continuously as the action unfolds.
What it means
In-play betting — also called live betting — keeps markets open while a match is in progress. Odds reprice continuously off a live data feed: every goal, wicket, or break point shifts the model's probabilities, and the book republishes prices in seconds. Suspensions around dangerous moments (a penalty, a video review) protect the book from bettors who see the action before the feed does.
Why it matters for operators
In-play is where modern sportsbooks make most of their turnover — the majority of football handle in mature markets is wagered after kickoff. It's also the most technically demanding product an operator runs: latency, feed quality, and automated risk controls decide whether live margins hold. That's why in-play pricing is usually bought from specialist suppliers rather than built in-house, and why feed contracts are among the biggest line items in a sportsbook budget. Features like cash-out only exist because live pricing does.
Example
A player backs a team pre-match at 2.10. The team concedes early, and its live price drifts to 4.50. The book now offers other customers the improved price while managing its pre-match liability — and offers the original bettor a cash-out priced off the same live model.