Mysqldump and locking tables

Our server is running MySQL and we use a scheduled batch file to run mysqldump on the database each morning. This backup is taking over 50 minutes to complete which causes transaction groups and historical data to go to store and forward. I’m pretty certain it’s because mysqldump is locking the tables during backup.

I’ve read in articles such as this one

that you can specify some options that will do the backup without locking out the tables. Does anyone have experience with this?