Traditional football betting used to mean backing a selection before the start of a match and that was that. You could watch the game or wait until the final whistle to find out whether or not your bet had won or lost. Now things are very different.
A few years ago the concept of betting in play, also known as betting in running, was introduced by some bookmakers and the betting exchanges. What this means is that you can carry on betting even if the game has started and can do so right up until the referee blows his whistle for full time. If you are watching a game live on TV you can wait and see how the game is going before deciding which way to bet. You could even wait until one team has scored before deciding to bet.
The odds on offer are constantly changing depending on how the game is going. Goals, penalties and sendings off have the greatest affect on the odds on offer. You may have placed a bet before the game started and you see the game going against you, in which case you could then bet against your original selection in order to cut your losses or even to make a profit from the opposite selection.
It is often the case that if a pre match favourite takes the lead in a match but you feel that based on their performance in the match the underdog has a chance to equalise or even go on to win the match that you can get a huge price in play. This can lead to tremendous profits if done correctly.
A lot of the bookmakers and the exchanges offer live streaming of football matches where you can watch and bet at the same time. However, please be aware that even although these matches are advertised as live there may be a few seconds delay because of the streaming over the internet and so you may see things a few seconds after people watching live on TV. This can have an effect on the price.
Among the markets offered in play are team to win, over/under 2.5 goals, over/under 3.5 goals, over/under 4.5 goals, total number of goals, next team to score, last team to score, correct score, number of bookings, number of sendings off, number of corners and winning margin.