What Is In-Play Betting?

In-play betting is one of the many great features of exchange wagering.  It allows you to make bets for (or against) a horse while the race is being run.  Other bettors will continue to make offers on either side of the market as the outcome of the race becomes clearer, allowing a wide variety of betting strategies to be pursued.  As soon as the horses cross the finish line, in-play betting comes to an end.  Betfair does not allow betting on the outcome of a photo finish or inquiry.  According to Betfair, up to 25% of volume on their UK exchange comes from in-play betting.  However, it's not clear whether that's specifically for horse racing or for all sports.  Presumably longer duration sports would get a larger percentage of their wagers in-play, but with all the automated tools available for Betfair's exchange, that may not be as true as one would think.