Live betting or in-play betting is when a player bets in real-time. In this case, a bettor has the chance 2️⃣  to place bets that will be finalized in a short period of time. The wide and fast odds fluctuation during 2️⃣  live betting can allow for big surebet profits.
Pros : slow odds change, a high number of future events, and, consequently, 2️⃣  lots of surebets.
: slow odds change, a high number of future events, and, consequently, lots of surebets. Cons: competition is 2️⃣  pretty high because of simplicity. Therefore, bookies limit the maximum bet amount.
There are also several types of calculations:
PreMatch: The same 2️⃣  as Live + Betfair Exchange.
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