The operators will use the closing odds on a game (the final odds set before a game starts), as well as factoring in any risk or liability, to formulate their opening in-game odds.

The most basic live odds available are point spreads, moneylines and totals. The concept is simple: sportsbook operators offer “live” odds during the course of a game or event, which adjust and change according to the action on the field but also the action at the book itself. For the better part of two decades, live betting (also known as in-game, in-play or in-running odds) has been a fixture for online sportsbooks.