Live odds refer to the real-time betting odds that change during a sporting event. These odds reflect the current state of the game, including factors like team performance, player injuries, and other in-game events. They provide bettors with updated information to make informed decisions on their wagers. Bookmakers use live odds to attract bettors by offering dynamic pricing based on the unfolding action. This allows for in-game betting opportunities, where fans can place bets on various outcomes, such as the next team to score or the final score, enhancing the excitement of watching the game.