7 Basic Terms Every Live Sports Betting Newbie Should Know

Live sports betting is taking the online gambling world by storm. Unlike traditional betting, where you place your wager before the match starts, live sports betting lets you place bets while the game is in progress. That means you can react to what’s happening on the field, in real time - whether it’s a sudden goal, a last-over twist, or a crucial injury.

However, if you're new to this thrilling form of betting, the terms and jargon can be confusing. To help you get started, we’ve broken down seven essential live sports betting terms that every beginner should know.

1. Live Betting / In-Play Betting

Live betting - also known as in-play betting - is the foundation of the entire experience. Simply put, it allows you to place bets after a game has started. This opens up exciting opportunities for players to read the momentum of a match and make smart decisions based on real-time developments.

For example, if you’re watching a cricket match and one team loses early wickets, you might get better odds on the opposing team. The dynamic nature of live sports betting is what makes it so thrilling.

2. Moneyline

The moneyline is one of the most straightforward types of bets. It involves betting on which team or player will win the match outright, with no point spreads involved.

In live sports betting, the moneyline odds are constantly changing based on the game's progression. If one side takes the lead, their moneyline odds will decrease (they become the favorite), while the other side's odds increase (they become the underdog). Understanding this term is crucial because it’s often the go-to bet for many live bettors.

3. Spread Betting

Spread betting adds a layer of complexity. Here, the bookmaker sets a point spread, and you bet on whether the favorite will win by more than the spread or if the underdog will lose by less than the spread (or win outright).

Let’s say in a football match, Team A is given a -2.5 point spread. That means they must win by 3 or more points for your bet to succeed. In live sports betting, spreads are adjusted constantly to reflect the game's momentum.

4. Over/Under (Totals)

This term refers to betting on the total number of points, goals, or runs scored by both teams combined. You don’t bet on who wins or loses—just whether the total score will be over or under a number set by the bookmaker.

Live betting makes totals even more exciting. For instance, in cricket, if the game starts slowly, the over/under line may drop. You can jump in at that point and bet over if you anticipate a late run surge.

5. Odds

Odds represent how much you can win on a given bet and how likely the outcome is to happen. There are several formats:

• Decimal odds (popular in Europe and Asia): e.g., 2.50 means you win ₹250 on a ₹100 bet.
• Fractional odds (popular in the UK): e.g., 5/2 means for every ₹2 you wager, you win ₹5.
• American odds: e.g., +150 means a ₹100 bet returns ₹150 in profit.

In live sports betting, odds change rapidly based on real-time performance. The quicker you can recognize valuable odds, the better your chances of making a profit.

6. Cash Out

Cash out allows you to settle your bet before the match ends, locking in profits or limiting losses. It's one of the most powerful features of live sports betting.

For instance, if your team is leading but looks like they're losing momentum, you might decide to cash out and take a smaller win rather than risk losing it all. Many experienced bettors use this option to manage risk effectively, especially in high-stakes games.

7. Prop Bets (Proposition Bets)

Prop bets are wagers on specific events or outcomes within the game, rather than the final result. In cricket, you might bet on which team scores the next boundary. In football, you could bet on who scores the next goal or even how many corners are taken.

Prop bets are extremely popular in live betting because they allow you to engage with every moment of the match. Even if the result is out of reach, there are still dozens of opportunities to make the game more exciting—and potentially profitable.

Conclusion

Now that you’re familiar with the key terms of live sports betting, you're ready to take your sports-watching experience to the next level. But where should you place your bets?

That’s where GullyBET comes in

GullyBET is one of India’s top platforms for live sports betting, offering:

• Real-time betting options on cricket, football, tennis, and more
• Dynamic, fast-updating odds tailored to live play
• Instant cash-out features to give you full control of your bets
• Easy-to-use mobile interface so you can bet anytime, anywhere
• Secure payments and quick withdrawals

Whether you're a casual fan or a strategic bettor, GullyBET provides the tools and features to make every match a thrilling opportunity.

Sign up today on GullyBET and take your live sports betting game to the next level.