Gambling at an Online Casino vs. Sports BettingJake Cooper | 06 Mar 2017
When it comes to gambling online, both casino gambling and sports betting attract a wide range of bettors. In both cases, the practice of betting can lead to significant payouts with very little outlay, which is why online casinos and sports betting sites have become so popular. But despite the obvious similarities, the two types of online wagering practices couldn’t be more different. We take a look at some of the main differences between the two betting practices.
Luck or Skill?
Online gambling is by far the most popular choice for anyone wanting to win a bit of cash online. Casino gambling in general, is luck based, which means that winning is more or less based on a random outcome. There are however some casino games like Blackjack that require skill and strategy, and players are able to increase their chances of winning. On the other hand, sports betting is more of an educated guess, with punters able to weigh up variables and decide what they think the most likely outcome will be.
Let’s take a look at an example. At online casinos, playing slots requires nothing more than clicking on the spin button and hoping for the best. In sports betting, one could theoretically just pick a team and hope they win. However, in order to reduce the theoretical edge, sports betting enthusiasts gather as much information as possible about the teams, the players and previous matchups. This gives bettors a much greater chance of placing a winning bet and doesn’t leave payouts entirely up to chance.
House Edge vs. Betting Odds
With online casino games, each game has a house edge. This is how the casino its makes money. Over time, the house edge ensures that more players will lose and a smaller percentage will win. With online sports betting, the online bookmakers make their money by collecting commission on wagers (this is called the vigorish, vig or juice). Each bet placed online is given at specific odds. The odds determine how likely the bet is to win or lose. A bet with higher odds has a much lower chance of winning but will offer a greater payout.
In sports betting, a bettor can potentially make a lot of money by backing a horse or team that no one else thinks will win. This can work in your favour if you have inside information to support your decision. With casino gambling, any significant win will come from hitting the right combination at the right time or in other words, pure luck.
So, if you are the type of person who loves to look up facts, figures and historical data, sports betting is ideal for you. However, if you want a bit of entertaining with the possibility of maybe winning some cash, playing online casino games may be your preference