How Live Betting Has Transformed Sports Wagering, According to Industry Insider

Live betting has become a defining feature of modern wagering, changing how sportsbooks engage customers and how fans experience sporting events.

To find out how live betting has changed the industry, SportsBoom sat down for an exclusive interview with Tosin Gbadamosi, Sportsbook Assistant at BetBonanza. 

"Live betting has changed the way bettors interact with sports by allowing them to place bets while the match is still in progress. This makes watching sports more interactive, keeps fans engaged throughout the match, and adds excitement to every key moment," Gbadamosi told SportsBoom.co.za. 

How Live Betting Changed The Game

Live betting has become an increasingly important part of the global sports betting market.

Grand View Research estimated the live or in-play betting segment generated $22.9 billion in revenue in 2024. 

The market is projected to reach $47.5 billion by 2030, growing at a compound annual growth rate of 13% between 2025 and 2030.

Reflecting on how betting habits have evolved in Nigeria, Gbadamosi told SportsBoom: "Back in the day, our old men basically played pre-match markets (draw bets mostly, i.e. pool players) and had to wait until the final whistle for their bets to settle. But today, live betting allows customers to place bets throughout the match as events unfold. With various market options such as Next Goal, 1X2, Corners, Cards, total goals, among others, updated in real time.”

The growing popularity of live betting is also reflected in data from the UK Gambling Commission.

The regulator found that 30% of online bettors had placed an in-play bet in the previous seven days. That figure rose to 60% over the previous four weeks.

Younger adults were the most active participants, with 77% of bettors aged 18 to 24 reporting they had placed an in-play bet during the same four-week period.

Sportsbooks Adapt to The Rise of Live Betting

The rise of live betting has also reshaped how sportsbooks operate. 

According to research from BidCanvas, 62% of global sportsbook betting handle now comes from in-play betting, highlighting how live wagering has become a major driver of betting activity.

As live betting has become a major part of sportsbook activity, operators have had to rethink how they keep customers engaged throughout an event.

"The growth of live betting has made sportsbooks improve their technology and customer experience. They now update odds in real time, accept bets within seconds, and ensure their platforms run smoothly, especially on mobile devices. Also, we now have more live markets than ever before, along with features like live match statistics, cash out (partial and full), and real-time match tracking to help customers make informed decisions while the game is in progress," Gbadamosi added. 

Technology Is Powering The Growth of Live Betting

Behind the growth of live betting is the technology that allows sportsbooks to deliver faster and more responsive experiences. 

Grand View Research attributes the expansion of online sports betting to wider internet access, smartphone adoption, and advances in online betting platforms.

Mobile devices have become a major part of that experience. 

A 2020 UK Gambling Commission survey found that 74% of in-play bettors had used a mobile phone to gamble, compared with 50% of online gamblers overall.

That trend is also reflected on the operator side. 

According to SOFTSWISS Sportsbook's Q1 2024 report, bets placed through mobile devices accounted for 90% of the company's Gross Gaming Revenue (GGR). 

This was up from 86% a year earlier, highlighting the continued shift towards mobile betting across the industry.

Challenges Bettors And Operators Face

The speed of live betting creates challenges compared with traditional pre-match wagering. 

Unlike pre-match markets, in-play odds must adjust continuously as events unfold, meaning sportsbooks need systems that can respond quickly. 

"For operators, the biggest challenge is keeping odds accurate while managing risk, as games can change in seconds. For bettors, the fast pace of live betting can lead to quick decisions based on emotion rather than careful analysis. Having a clear betting plan and sticking to a budget is more important than ever," Gbadamosi revealed. 

What Comes Next For Live Betting?

Looking ahead, Gbadamosi believes live betting will continue to evolve.

"As technology improves, we can expect faster updates, more betting markets, richer live statistics, and more personalized experiences for customers. And you know we now have AI. At some point, this will also come into play as technology keeps advancing daily and being used across various industries.”

For bettors, what's worth watching is how AI tools could soon transform live betting, from how odds are generated to how quickly cash-out offers appear on screen.