Gambling and sports betting are two related but simultaneously different types of activities that offer you winnings in exchange for the risk of an uncertain outcome. If you bet on soccer or play roulette, then you do not have a 100% guarantee that you will guess the outcome. At the same time, sports betting is always about deeply examining and analyzing the event.
In the case, you can only know the specific volatility and RTP of a specific type of online pokies or roulette. Of course, you may use Martingale, D'Alembert, Fibonacci, and other strategies, but they will not insure you, for example, from a series of failures that may occur randomly. In any case, if you are a beginner, it is worth exploring and trying both options to decide which one suits you best.
Is It Always About Luck?
As mentioned above, the nature of the activity is the main difference between gambling and betting on sports. When playing games of chance, you rely more on luck than on your experience and expertise in the game. The only exception can be poker, and only in the case when you compete with a live dealer and real opponents at a virtual table. In all other cases, you are faced with the work of the RNG, which determines the outcome of each subsequent round, the distribution of cards, and so on.
In the case of sports betting, you determine the favorite of a particular match or predict the winner of a tournament based on certain parameters. For example, when betting on soccer, bettors evaluate multiple input data, including the following:
The existing odds;
The team’s previous performance;
The condition of key players, and so on.
It takes time and experience, but this approach will ultimately help you quickly get impressive sums or earn small amounts over a long period of time. In this case, do not neglect independent reviewers who provide all the necessary information and built-in statistics options on specific bookmaker sites. It’s worth mentioning separately about strategies in casino games. Many people say that you can learn casino gaming strategies and increase your chances of winning.
You may double the bet amount with each loss, as is the case with the Martingale strategy, or halve the amount with each successful outcome (Reverse Martingale approach). You may also adjust your bet size according to the Fibonacci sequence. However, it works if you do not have a long series of failures. Anyway, you significantly risk your bankroll.
The Impact of Bonus Deals
One of the most common reasons for casino activity is bonuses and promotions. The most among them are the following:
Free spins (or free chips);
These bonuses, offered by most gaming sites, help players to increase their chances of winning. All you need to do is register on the site, deposit a qualifying amount to activate the bonus, and play the best slots online. NDB deals are the only expectation: here, you get rewards after meeting specific conditions (for example, registering on the site or achieving new status), entering promo codes, and so on. At the same time, no casino operates at a loss, so each bonus has its own terms and conditions. So, consider the bet limits, maximum win allowable, eligible games, wagering requirements, and expiration date.
As for sports betting, bookmakers are not so generous with bonuses. In addition, such offers are usually more complex and may relate to a specific event, a series of losing bets, or a deposit. In the case of the first category, you may try your luck predicting outcomes of, for example, specific world football tournaments. The second and third categories are somewhat similar. You get money back after losing or winning a series of bets.
For example, you bet $100 on several Liverpool games and lose every wager. The bonus you are using is 10% cashback on a streak of losing bets. Once you have completed all the requirements, you will receive $10 in your gaming account.
House Edge of the Casino and Bookmaker
As mentioned, casinos and bookmakers always insure themselves against potential financial losses. That is the reason why the house edge principle exists. In the case of sports betting, the bookmaker has an advantage due to the margin they include in the odds.
This figure may vary from site to site, but it is usually in the range of 2–5% on average. As for online casinos, it’s not just the specific casino that plays a role, but the games. For example, in European roulette, the house edge is 2.7%, while in slot machines, this margin can be much higher or lower, as in the case of blackjack.
Considering all of the above, it can be stated that online casino games offer much better rewards than sports betting. There are many examples of people winning incredible amounts of money in relatively cheap casino games. However, therein lies the main problem - your chances of hitting such a jackpot are probably one in a million, if not more. Specific data about particular games may help you understand your chances: RTP, volatility, and house edge.
In addition, online casinos often motivate their users to play for real money with the help of both deposit and no-deposit bonuses. They give you an advantage and increase your chances of winning. However, you must fulfill the wagering conditions to withdraw your winnings successfully. Compared to this, sports betting gives you much better chances.
If you take your bets seriously and conduct an in-depth analysis of events, you may predict the outcome of future events more accurately. Experience plays a role here, as well as the ability to search for key information based on official news, reports of past games, team strategy, and so on. It can be said that sports betting is smart money compared to casino games, where you bet on a random combination of symbols or cards on the screen.