You need to have a lot of data and think about the possibilities before the game starts though, as potential 2H bets. Betting on the fly is a really bad idea.
NBA Totals:
You need to have a good appreciation for which teams start fast/slow and what their actual expected scoring for the game is. Tonight (2009-11-12) was a great example with the Cavs/Heat total closing at 179.5, which IMO was way too low. A fast start to the game boosted the total in live betting up to 202 at Pinnacle near the end of the first quarter, providing a 22.5 point middle... Outrageous.
Typically you're going to get the biggest spread near the end of 1Q or 1H, depending on the tempo of the game. By the second half, you don't usually see very large swings (at least in the NBA).
NBA Sides:
Pretty much the same idea for sides as totals. Teams that are particularly strong or weak early/late can provide good opportunities, as well as situations where one team dominates the 1Q or 2Q. It's not uncommon to see the score part way through the 1Q as something like 22-10, with one team dominating the other early (even if the differential corrects itself by the end of the quarter). If that happens to be the dog that gets off to a fast start, you can often find appealing spreads that give you a much better line on the favourite.
Again though, you need to have a plan before the game starts. If the early action agrees with your initial opinions on the matchup, you're in a good position to get a good deal. If it opposes your bets already laid, don't second guess yourself.
NFL
I do this less because i bet less football. Same principle though. You need to spot those runs by the weaker teams. Say the Rams put up 7-10 points early on due to a long punt reception, a fumble, or something else unexpected. You'll probably be able to find a favourable line on the fave in live betting.
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