DraftKings Sportsbook's Live Ticket Feature Might Change Sports Betting
The DraftKings Sportsbook mobile application dropped as an invite-only product yesterday and it looks pretty damn good. Per publicly available screenshots, users will find a familiar DraftKings interface that offers a plethora of traditional and live betting options across all major sports. While we will soon offer a full review of the app’s functionality, design, odds, and betting options, there’s one element that is of particular interest:
— Woody Levin (@WoodyLevin) August 1, 2018
Essentially, the live ticket system will give users the ability to treat traditional wagers as live bets. If a bettor has a standard pregame bet on the Phillies at -110 to beat the Braves, meaning they have wagered $110 to win $100, and the Phillies take a 3-0 lead in the first, the odds of winning the bet have dramatically increased in their favor. As such, bettors can use that favorable leverage to cash out a hedged profitable payout on their initial wager. Conversely, if a bettor makes the same wager, but the Braves jump ahead 3-0, the bettor can buy their way out as a form of damage control. This would be a sensible tactic to take if a bettor:
- Doesn’t want to wait for the game’s completion
- Wants to guarantee a profit when odds progress in their favor
- Wants to limit damage when the odds progress against their favor
It’s a unique feature that gives players yet another option that enhances the sports gambling experience, but it’s also one that comes with some potential pitfalls. Certainly this option will provide players with the ability to pull a profit from wagers they could eventually lose, or save themselves from a more damaging loss, but that won’t always be the case. Inexperienced and overanxious gamblers may take unnecessary losses in the early stages their wagers by needlessly panicking over a game’s early, and often meaningless, results. Meanwhile, some bettors will hedge winning tickets at pennies on the dollar, thus limiting upside while locking in downside on long shot bets.
The smart advice when it comes to live tickets is the same as it is with any live betting option. Stay disciplined, make careful and measured moves, and don’t overreact to a game’s natural momentum swings.
That said, we’re super excited about this, and it’s super cool. Sports are going to change because of stuff like this.
Check out our New Jersey sports betting page to get updated, and for a full review, when DraftKings Sportsbook goes live to the general public. If you’re new to this sort of thing, check out our how to bet on sports guide.