Many players get overwhelmed when they find the various options of sports betting and casino games. They often ask, ‘Which one is better – Online betting or Sports betting?’. A sports fan would have a tendency to bet on sports. However, during a lean sports period, a sports bettor can also put some money in casino games.
But before diving in their differences, let’s look at the two concepts separately.
The concept of online casinos
With the advent of the internet, online casinos have come in vogue.
In casino gambling, you can play loads of live casino games or slots. Luck rules these games, but sometimes, you need skill and strategy to win as well. The casino establishment or the ‘house’ generally has the edge over the participating punters. However, occasionally, a punter will win against the house and come on top.
Sports betting is one of the most popular forms of betting, and in this case, the punter predicts the sports results and places a wager on the event. You bet against the bookmaker, and if your selection or outcome happens, you win the bet. Sports betting is more about taking calculated risks than a luck-based gameplay.
How are the two different?
1. Ease of getting started
Sports betting is very easy to get started on. You should have a good understanding of the sports and how betting odds work. An understanding of the basics of the betting market can help you place and win your bet.
For casinos, it can also be very easy for a beginner to start with Casino gambling. The tricky part is to choose which game to play or focus on. There is a wide range of games to choose from and some games can have a high learning curve (especially, the live casino games). Here is a list of common games in casinos –
So, in Casino, the ease of getting started can be steep for some games. For sports, even if you are not betting, you can learn the game by watching it. But it is recommended to play live casino games and learn it in action.
2. Probability calculation
When it comes to calculations, sports betting calculations can be quite complicated than casino gambling. During sports betting, you have to calculate the net payout based on the odds. On top of that, you have to spend a lot of time trying to find out value odds, if any. An experienced bettor would often analyse the sports statistics and then look for odds closer to their analysis, which is quite a laborious process.
When it comes to casinos, the process can be quite easy. Casino payouts are generally given with the game. You have to rely a lot on instincts to win in a casino game. Hence, the probability calculation is minimal or almost zero (since it’s mostly instinctual).
3. Scope in terms of making money
One of the similarities between sports betting and casino gambling is bankroll management. Both of these areas would require effective bankroll management so that you don’t go bankrupt. However, in the case of sports betting, bankroll management can be easy. Since much of the sports betting requires calculation, you can keep a budget and create a proper staking plan. Strategizing can help you save money in betting.
When it comes to casinos, strategizing may not work properly. Since much of casino gambling is based on instinct, there is a chance of losing a lot more money than gaining. However, due to this high-risk situation, if you do win money in casinos, it brings in high returns. For example, if you win a huge jackpot, it can help cover up any of the previous losses you have made.
However, in the long run, both games require the players to control their losses.
4. Emotional Factor
A problem with sports betting is that there are a lot of factors like player performance, pitch conditions, weather, etc, that come in. However, despite the analysis, biases can creep in. You might be biased to a favorite team. Since sports are an emotional affair, you can place the wrong bets. However, no emotions are attached to casino games. Statistics and bankroll management are also important in casino games. But loyalty is less, so you are less prone to making errors due to personal biases.
So which do you think is better? Frankly, it is hard to tell. There are plenty of reasons to bet on sports. One cannot only say that sports fans will put their stake in sports only. Gambling has plenty of options too. Much of the choice depends on the person and their risk-taking philosophy.