A system for wagering on outcomes of a live sporting event during a specific time window. The system estimates the duration of the time window based on historical data. The window then either closes at the end of the estimated duration or when the subject of the wager has occurred or is about to occur such that users cannot place wagers on an outcome that has already occurred. The estimated duration of the time window may be based on a statistical average of similar plays or may be determined by an artificial intelligence based algorithm or module.