The Art of Live Sports Betting in Kenya
The art of live betting in Kenya has taken a silent twist. This comes after a response to a new 20% tax on betting stakes in the country with the likes of SportPesa and Betin, two of the country’s largest sports betting companies that halted business operations in Kenya.
But even with this effect, where is live betting in Kenya? Are people still betting? How are they doing it?
Let’s explore the live betting. There are so many betting companies making profits in the Kenyan betting scene.
A lot of people are opting for live betting where they can watch a match and have the liberty to place a bet after the match has already kicked off and as it goes on.
A live bet is also known as in-play or in-running bet, which is the process of placing a bet on a match that has already commenced.
How Live Sports Betting Works
Looking into how live sports betting works, let’s explore some pointers.
The online sportsbook or bookmakers will have their odds on a matching set or before the event takes place. The bookmakers or sportsbook determines the odds. This is done using a computer algorithm that is constantly updating the information. Do past events determine an outcome? Yes. Based on what is happening in the event as well as past outcomes of similar events, the odds are changed.
The odds are likely to change several times after the event commences which is dependent on what happens. For example, if team X were an odds-on favorite before kick-off and Team Y scores and leads after a couple of minutes, the odds will change to reflect this. Team X may still be favorites to win, but they then have less chance of doing so. Thus, this will raise their odds.
If a person wants to bet on team X, they have a high chance of getting high winning odds than they would have if they’d placed their bet before the game commenced.
In a football match, a goal isn’t the only thing that determines how an odd can take place. Every action is likely to alter the potential outcome, thus, in the process changing the betting odds.
When something significant happens during the event, usually a highly unexpected outcome, the sportsbook/betting website will usually suspend betting for a few seconds so the computer can work out the new odds. Betting will then continue. This usually happens several times in the course of an event as a significant moment cannot be predicted; therefore, giving you up-to-date odds reflecting what is happening in the live event.
Thus, if you’re focused on every single second of the match, following each activity, you have the privilege of changing a bet because you’re likely able to predict the outcome in minutes to come. This is among many, the advantages of live betting that provides you with more options.
Why are live sports betting encouraged?
Think about it you are an avid football lover and also a specific team supporter and long-time fan. With the existence of an avenue to place a bet and make revenues, you can gain more out of just being a fan. There are various wide points to look at that would make bet placing encouraging:
- Social Connection
This is an agreement to be made and therefore goes without saying that for an agreement to exist there has to be more than one party involved and thus starts the journey to a great social connection where you and your group of friends could have an added activity that you do together and get that much more to talk about whenever you meet and create a platform to bond, as you exchange banter on your different point of views for the teams that you love and go further to place your money where your mouth is by placing a bet on the possible outcomes.
- Knowledge Expansion
The other added advantage to live sports betting is that it drives the need to get more knowledgeable, factual, and analytical and all-round expansive about the event or activity you look to place your bet on. This largely gives you insights and understanding that would make you more comfortable and certain while placing your odds. This creates a habit to frequently jog your mind and expand more, thence a positive brought about by bets.
Revenue Earning/Business from Live Sports Betting
This presents the business or revenue earning the benefit of a bet. Like any other business we all engage in, we have to go through the process of analysis and planning before investing in it and going forth or not, which clears the speculation on how different it is to place a bet from any other business venture. After analysis and understanding your event that you’re willing to place your odds on, you then go forth to set your BET and make returns from your investment.
Lastly, always remember to bet responsibly.