According to gambling statistics, approximately 26% of the world’s population practice gambling. These stats aren’t really surprising since people have been gambling since time immemorial. What might differ is the motivation behind it. Some gamble as a way to escape from their problems while others do so out of sheer boredom. And then there are those who’ll be trying to score a quick buck.
Whatever the case, social or controlled gambling can be a source of entertainment and is often viewed as a recreational activity. If you’re new to the world of gambling, know that gambling is categorized into different sectors. Betting, casino, lotteries and gaming machines are just some of the examples.
But our topic of interest is between two popular forms of gambling: casino and sports betting. Are you thinking of taking up recreational gambling but not sure which one to go with between the two? In this article we discuss all you need to know about casino gambling and sports betting, what they entail, their differences. Ultimately you can decide for yourself which is better.
We’ll start off by explaining what exactly the two gambling disciplines entail so that you get a better understanding of the topic. We’ve established that both are forms of gambling. Also, the chances of winning in both casino gambling and sports betting are similarly stacked against bettors. But that’s pretty much as far as the similarities go.
With casino gambling, the house or establishment uses a mathematical formula against punters who are wagering for a win. However, with sports betting, punters gamble against each other by wagering on the item in question, be it a team or horse. And the odds of winning are determined by the total sum of money that’s bet on each item.
Both casino gambling and sports betting are very popular. But sports betting has been rapidly rising in popularity over the years. The reason for its popularity is probably attributed to the establishing of more racing tracks and increased televised broadcasting of sporting events.
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The main difference between casino gambling and sports gambling is best explained by discussing the methods used or betting options available. We’ll differentiate them below.
With any form of gambling, you have what are called betting options and markets. These are aimed at giving interested punters different ways to gamble to eliminate monotony in their quest to win money.
You have numerous gambling options with casino gambling. A few examples include the following:
Casino slots are the most popular method used in casino gambling. And they make up the bulk of a casino’s income. Casino slots are machines designed to create a game of chance for punters. These slots usually feature three or five reels. Reels are the images displayed in front of the machine when you spin it.
These machines use a computer designed to generate random numbers. To win, you must line up certain combinations of symbols on the slot machine. And the less likely it is for a punter to line up the correct symbols, the higher the pay-outs from the machine.
Staking is the method used in sports betting. It boils down to you calculating the correct amount of money to place on a bet in order to win. There are different strategies you can employ to increase your chances of winning. The following are the most popular staking methods you can use:
However, sports betting offers even more options that you can try out depending on your interests and preferences. You must first decide on the sporting discipline you’re interested in such as football. Football is a popular sport where people bet on their favorite teams.
In case you’re torn on whether you want to start sports betting or casino gambling, we’ll outline the advantages of each gambling form over the other so you make an informed decision. We’ll start with advantages of sports betting over casino gambling.
While winning is by chance with all forms of gambling, you chances of winning are significantly higher with sports betting compared to casino slots. Why? As mentioned, casinos use a system which gives it an advantage known as the house edge. As a result, chances are that the casino will win most of the time.
On the other hand, because of the methods used in sports betting, you have a more realistic chance of winning. Instead of having to beat the house edge, you must simply have enough bets to win the grand prize.
But at the end of day, whether you participate in casino gambling or sports betting, winning is purely based on luck. And you have to be extremely lucky to hit the jackpot!
Because of the staking method used in sports betting, you have a higher chance of winning long term profits. But you have to be a very good better to win profits in the long run.
If you master your strategy, there’s a chance that you can win some profits on a consistent basis. The same can’t be said about casino gambling. If you lose, you lose.
Sports betting requires some degree of strategy to win. Serious sports betting doesn’t include simply picking a team and hoping for the best. You need to be at least knowledgeable of the sport in question and teams involved. This means conducting lot of research beforehand.
After your research, you have to choose a strategy from the few examples listed earlier. With time and practice, you can master your chosen strategy which can give you higher chances of winning.
Casino slots, in the case of casino gambling, require no strategy at all so your chances of winning are based on luck more than anything else. If you’re a strategist who has the time and effort to master gambling, you’re likely to be interested in sports betting.
With sports betting, aside from devising different strategies to win money, you can employ software programs to help you win. There are different software programs available to help you with arbitrating. Arbitrating is a process of betting in a manner that guarantees you profits. As a result, your chances of winning are much greater with sports betting. You don’t need to use any software when casino gambling.
Whether you decide on sports betting or casino gambling is determined by your personality, interests and preferences. Are you someone who craves a challenge or not? Since you need strategy and software for sports betting, it follows that if you want something more challenging you’ll probably opt for sports betting as opposed to casino gambling.
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As mentioned, casino gambling—particularly casino slots—requires no strategy at all. You don’t need to conduct any research or have any previous experience to increase your chances of winning. You simply spin the reel and hope for the best. This is something you’ll appreciate if you don’t have time to dedicate towards mastering a new art.
Since software and strategy should be employed to increase your chances of winning a sports wager, it means the discipline presents a huge learning curve. It’s possible to learn, but if you don’t have time to master different strategies, you’re placing yourself at a disadvantage.
Casino gambling, such as playing casino slots, is very quick and easy to learn. A few minutes are what you need and you can start spinning those slots.
After years of sports betting it’s easy for participants to think that the more practice they get, the higher their chances of winning. Yes, you can use strategy to increase your chances of winning, but the bottom line is that winning is based on luck. And that goes for any form of gambling.
It’s believed that most casino gamblers will win at some point unless you’re REALLY unlucky. However, your chances of making overall profit are relatively slim because of the house edge.
In this regard, it’s safe to say that casino gamblers have a more realistic perception regarding winning or losing compared to sports bettors. This is because most of them are aware of the fact that the casino usually has a house edge and tends to win all the time. As a result they are more realistic about accepting their chances of losing.
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To lure more punters, casinos usually offer more bonuses and promotions. The same can’t be said about sports betting. Bonuses and promotions are even more apparent on online gambling sites. If you don’t win the jackpot, at least you have a chance of winning a stay in a hotel suite, fine dining at an exquisite resort, or limousine ride. This is the casino’s way of not only attracting punters but ploughing back profits back to customers so they feel rewarded and continue playing.
While sport betting does offer some rewards or promotions, they are usually not as extravagant as what is seen with casinos. And in most cases, these bonuses are reserved for VIPs and not the general punter.
Casino gambling generally offers larger winnings than what you get from sports betting. If you’re very lucky, you can wind up walking away with a six or seven figure jackpot without betting much money! Sports betting doesn’t offer massive jackpots.
It doesn’t help that with certain sports betting disciplines like horse racing, applicable taxes and race track profits are first deducted from the winnings. Also, the amount won is divided among the punters who bet on the winning horse.
We’ll round off the review by briefly outlining factors to keep in mind when choosing either forms of gambling. Ask yourself the following questions:
Both casino gambling and sports betting have their own advantages and disadvantages. One isn’t entirely better than the other. Both can be equally entertaining and effective ways to kill time. At the end of the day, the type of gambling you pick is entirely up to you depending on your skills, personality and overall perceptions on gambling.
With that said, will you be hitting the casino slots or trying out sports betting? It’s your call.