Casino vs. Sports Betting: Benefits, Winning Potential, Risks

At first glance, casino gambling and sports betting are very similar and almost identical to one another. And there are indeed many similarities between the two. After all, you’re betting your money on an uncertain event that will transpire soon in the future, and you hope that the event’s outcome will be the one that you’re betting on.

There are many similarities between sports betting and gambling. It’s so much so the case that some people may fail to realize that there are any important differences between the two at all.

However, it’s not as simple as that. There are, in fact, many differences between casino gambling and sports betting. And this review sets out to deliberate on some of them. If you’re interested in learning more about the main differences between casino gambling and sports betting, then you’ve come to the right place.

Benefits of Casino and Sports Betting

We’re all well aware of the potential benefits of gambling. One lucky day you may decide to visit www.RedDogCasino.com and play a few gambling games – and end up being rich for it. This is the holy grail of gambling, and it’s that ever-elusive promise of winning huge sums of money with no work.

And things aren’t much different when it comes to sports betting. Of course, sports betting may very well be the slower option of the two when it comes to making as much money as possible. The simple reason for this is that, in sports betting, you will need to wait for the match to end before you know if you have won money or not.

When it comes to gambling, everything is a lot faster. A single spin on the roulette wheel or the slot machine can turn you into a millionaire.

The main benefit of gambling is that it’s somewhat more convenient to enjoy than sports betting. It’s very easy to find a gambling casino on the Internet, register an account and start playing after you have made your first deposit. There will be a variety of different gambling games for you to choose from, and you can play what you want.

Don’t get us wrong – sports betting is also highly convenient, especially with the advent of modern technology. Once again, all you’ll need to do is create an account and deposit some money. But this time around, you will need to wait for matches to become available for betting. And this isn’t a problem either, since there are hundreds of different sports and there are matches to bet on practically all the time. But still, when compared to what casino gambling offers in terms of being immediately accessible – it’s somewhat better in this regard.

The Legal Landscape

Before getting into sports betting or gambling, you will need to determine whether it’s legal to do so in the place where you reside. Namely, there are some major differences in how countries around the world deal with sports betting and gambling in terms of whether they’re legal or not.

And statistics show that more countries around the world consider online sports betting legal as opposed to the number of countries that consider online gambling legal. Of course, in each case, the vast majority of countries around the world only allow adults to bet on sports or gamble. In some countries, the age limit is 18+, while in others, it’s 21+.

In either case, you will need to do some research and ask around to determine whether online sports betting and gambling are legal in the country of your residence. Again, more often than not, the number of governments around the world that consider online sports betting legal is bigger than those that consider online gambling legal.

Moreover, in some countries, there is a monopoly as to who can offer online gambling or sports betting services. In many cases, this is a state-owned enterprise. In this case, no other company could offer these services making the sports betting and gambling landscape constricted. This goes to show that there are some big differences in how countries legislate in terms of casino gambling and sports betting.

Sports Betting and Gambling Outcomes

In one sense, there is a major difference between sports betting and gambling. In sports betting, you’re trying to use the best of your knowledge and make the right choice in what you believe will be the event’s outcome. The odds here shift from one minute to the next depending on things that happen in real-time. For example, one team’s key player may get suddenly injured. This will shift the odds significantly in favor of the other team winning the game. So, you always need to be on the lookout for events such as this one and turn the odds in your favor before the house changes the odds to reflect the teams’ new standing.

Gambling, on the other hand, is much more random than this. You almost have no prior knowledge of how a gambling event would end. Let’s take the roulette game, for example. You can bet on red or black or on any of the 37/38 numbers on the board. Or you can bet on groups of numbers such as the Voisins du Zero or Orphelins, etc. However, there’s no way in which you can influence the way the wheel spins and where the roulette ball will land – not a legal way, at least. You have to base your calculations on the estimated Return to Player rates as set by the house.

So, if you want to hone your skills and make the right calls based on events in real-time, then it would be the smart thing to do to enjoy sports betting. If you just want to “let go” and let Lady Luck take care of the rest, then it’s better to gamble online.

Winning Potential

It can also be argued that the winning potential is much bigger in gambling than it is in sports betting. And it’s easy to see why this is the case. First off, as we’ve mentioned before, gambling goes a lot faster on average than sports betting. During the time you’re waiting for a sports match to end, you can spin a thousand rounds on the slot machines. Any one of these spins can bring you a progressive jackpot prize and make you rich.

On sports betting, you can place the so-called accumulator bets and thus significantly increase your potential win. However, the accumulator bets are notoriously prone to failure. The chances are that you have experienced yourself the nerve-wracking experience of losing on just one of the dozen games that you’ve wagered an accumulator bet on your ticket. So close, but still very far.

But this is not to say that you can’t make money with sports betting. Unlike gambling, you have here the luxury of thinking things through and making the best decision based on your knowledge and experience. And this is simply not possible when it comes to hardcore gambling in a casino. If you play your cards right in sports betting, then you can make consistently successful bets and earn money in this way. The chances are that you won’t make a lot of money quickly if you take the safe route – but you will be getting all but guaranteed profits, which is simply not possible with casino gambling.

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Variety of Gambling Games/Sports

In this regard, the only difference between sports betting and gambling is in the nature of the games and types of sports themselves. There is a wide variety of sports and gambling games. In terms of sports, the most popular sports betting options are:

• Football,
• Basketball,
• Baseball,
• Ice hockey,
• Handball,
• Tennis,
• And many others.

Not to be outdone, there are hundreds of gambling games that you can play both online and offline. Some of the most popular ones are:

• Roulette,
• Slots,
• Baccarat,
• Blackjack,
• Videopoker,
• And many others.

As you can see, there is a wide variety in terms of gambling games and sports that you can bet on. Most experienced punters and gamblers have already made their selections based on their own preferences and needs. One game or sport is not inherently better than the other. It’s just about making your mind based on what you want and what you feel you’re good at.

Risks of Gambling and Sports Betting

But it’s not all sunshine and butterflies in the land of sports betting and gambling. After all, all gamblers and punters know that there are risks involved. So, you have to be careful when betting or gambling so as to not get too carried away and end up losing big sums of money.

Again, since gambling is an experience that transpires a lot faster on average, it means that you can end up losing a lot more money when gambling, especially if you’re playing the so-called high-stakes gambling games.

And sports betting is risky, too. You can still make the wrong decisions in critical moments and lose a lot of money in the process and down the line. That being said, if you play your cards right, so to speak, you will not be facing any significant risks when playing neither gambling games or betting on sports. If you create your own bankroll and manage it properly, then you will prevent the loss of any significant sums of money down the line.

But it’s not just about the risks of gambling and sports betting themselves. It’s also very important to determine the risks of online gambling and sports betting in general. What we have on our mind here is the risks incurred by visiting any blacklisted, shady sites where you’ll want to gamble and wager sports bets. As it turns out, many online gambling and sports betting sites are indeed blacklisted – that operate without a valid license, freeze people’s funds for no reason, fail to pay players their winnings, etc. In any case, you wouldn’t want to gamble or bet on any of these sites. This is why it’s very important to research whether a site is legit first before you go and visit, because once you deposit your money and start playing, it may already be late.

Luckily, the number of blacklisted casino and sports betting sites is a lot smaller than the number of legitimate iGaming operators. In most cases, you will get a completely legit online gambling or sports betting experience, so there’s no reason for concern here.

Casino Bonuses and Sports Betting Bonuses

One of the best things about online gambling and sports betting is that the operators are known for their generosity to their players. So, if you’re a new player on the site, then the chances are that you will be rewarded for it with a nice bonus or a few. The most popular forms of bonuses in the world of online gambling and sports betting are:

• Welcome deposit match bonus,
• Free spins bonus,
• Free bets bonus,
• Cashback bonus,
• Enhanced odds bonus,
• And others.

As you can see, there are many different types of bonuses in online sports betting and gambling. However, there is still one major difference between sports betting and gambling in terms of bonuses. And the difference is that casino operators tend to be a lot more generous with the bonuses than their sports betting counterparts.

And given the fast-paced, highly volatile, and completely random nature of gambling, it’s evident why this is the case. It’s not unheard of to get several thousand dollars as a bonus when gambling online in a particular online casino as a deposit match bonus.

On the other hand, sports betting sites tend to be somewhat more modest with their generosity. This is not to say that there are no bonuses for sports bettors – far from it. But the existing bonuses are indeed smaller than the ones that you will typically find in an online casino.

Both sports betting and gambling bonuses have some terms and conditions that the player must meet. For one, there will undoubtedly be a wagering requirement that you must meet as a player before you can make a withdrawal. This is pretty much a standard procedure in sports betting and gambling. You may also have allotted time in which you’ll have to claim the bonus, as well as a minimum deposit level to be eligible for getting the bonus. In any case, you should read the terms and conditions regarding bonus use, as this will help you make the most of the available offer.

Similarities Between Casino Gambling and Sports Betting

Despite all of their major differences, as we’ve mentioned before, there are some big similarities between the two, as well. First thing’s first, both gambling and sports betting involve putting money on an uncertain event that will transpire in the near future. You can either win money if your prediction turns right or lose your wager if it doesn’t.

And the process for online gambling or sports betting is very similar. You need to follow a few simple steps to gamble or bet:

• Visit the operator’s site of your choice;
• Register an account;
• Deposit money using one of the available deposit methods;
• Claim bonuses, if applicable,
• Start betting/gambling.

As you can see, the betting and gambling process can’t be any simpler when it comes to online websites. If you want to deposit money, then you’ll be delighted to learn that the majority of iGaming and sports betting operators will give you many different ways in which you can do just that, including Visa, Mastercard, Maestro, Skrill, Neteller, and others. In some cases, you may even be able to deposit with cryptocurrencies such as Bitcoin.

The entire process is very safe and secure, and you won’t have to worry about any data breach. As you can see, there are indeed some similarities between gambling and sports betting. They are not that different from one another, after all. It’s just about determining which of the two you prefer and enjoy more.

Random Number Generation, Return to Player, and Sports Events’ Outcome

The outcome of the games in gambling can be traced down to the existence of the so-called random number generators. The RNG is a piece of software that ensures that the next spin’s outcome is almost impossible to predict beforehand. And this is why online gambling games are completely random, meaning there’s no way in which you can improve your odds of winning if the game uses a random number generator.

Tied in with the RNG is the preprogrammed RTP rate or return to player. Return to player stands for the long-term probabilities that the game is built on. For example, if a particular slot game, for example, has an RTP rate of 95%, it means that for every $100 that the player wagers, the game will give back as payouts of $95. Of course, this is not a short-term statistic. If this was the case, then gambling would have been an unproductive waste of time and money.

RTP is a long-term statistic, and it shows its face in the long term, not in the short term. This is why it’s quite possible for one player to make huge profits while another player loses money. This is how gambling games operate for the better part. The house always has the edge over the player, regardless of how small this edge may turn out to be. If you ingrain this into your knowledge early on, you will be able to make a lot better gambling-related decisions down the line.

Sports, on the other hand, don’t have the luxury of using random number generators or returning to player rates. The event outcomes depend on how the players of the sports perform on the pitch. What the house does in this instance is assign so-called odds for various event outcomes. The lesser the chances that a particular event will unfold – the higher the odds will be, winning you more money in the process if the unlikely event unfolds. And vice-versa.

So, this was another way in which the experiences of online gambling and sports betting differ from one another. This difference does have practical implications, and it’s best to consider things through and through before making a decision on whether to do sports betting or gambling.

Conclusion: Casino vs. Sports Betting

As you can see, there are some major differences between gambling and sports betting in general. We’ve enumerated several of them and this, we hope, helps deepen your knowledge on the subject at hand. There are differences in how the two work. But there are also some big similarities between the two, which is what makes many people fail to differentiate the two from one another.

The practical implications of our review above will help you make the right call on whether to get involved with online gambling or online sports betting or the two of them together – or neither. In the end, it’s up to you to make the proper decision based on your needs and preferences.

And in the end, you can’t really know the difference between casino gambling and sports betting without trying them out for yourself. Again, you can make use of the various bonuses that you’re bound to get on the websites of some of the best iGaming and sports betting operators on the market.

Only once you’ve tried the experiences of gambling and sports betting yourself will you be able to make a decision which of the two you prefer. And after that, it’s up to your experience to teach you along the way so that you learn to make the right calls at the right instances. We hope that you will have a fantastic time betting or gambling online and that your luck will serve you for a long time – making you a lot of money in the process. Good luck and have fun!