The late bettor is a punter that makes bets on events that have already taken place, but are still available for live-betting. Typically, this becomes possible due to the slow work of a scouting service of a bookmaker or a delay in the TV translation, which the bookmaker watches.
If the scouting service that the company uses works slow, of if the bookmaker fails to halt accepting the bets on time, late bettors would take the advantage of the situation.
Late bettors are usually watching the translation that allows them to get the information and react quicker that the bookmaker does. Sometimes, late bettors often attend the event or have faster scouting service than the bookmaker’s one.
The high cost of scouting data in most cases eliminates the possibility of such an abuse from independent punters. Usually, it is a part-time job of traders working in competing firms. They know about the markets that are difficult to get data from for one or another bookmaker, and take the advantage.
Measures from bookmakers
It’s not that difficult to discover such bets. The bookmaker enters a number that determines how many times it is normal for a punter to win using late-betting. Players who win too often are sent for a manual check to the trader.
Bookmakers have the right to return such bets. Bets that are made after the change in the odds and in favour of the bettor are cashed out at the market odds. Sometimes, bookmakers return such bets, too.
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