Casino Gambling vs. Sports Betting
In present times, gambling is being enjoyed by millions of bettors around the globe. With the arrival of mobile devices and fast internet, playing online casino games from anywhere in the world has been made possible. You could have fun while stuck in a traffic jam or waiting in a queue. There are a few distinguishing factors that make casino gambling superior to sports betting. This answers the question of why a lot of punters go for casino gambling instead of sports betting.
Furthermore, it is no secret that the casino gambling industry (both online and offline) has done better than the sports betting industry over the years. Here are a few statistics to show that
- Since the beginning of the 21st century up till 2015, sports betting has recorded a growth of over 5%. Whereas, within that exact period, casino gambling has approximately achieved a growth of over 8%.
- Also, the sports betting market share has recorded a slight decline from 14% from 2007 to 13.9% in 2014. Within that time, the online casino market share increased from 32% to an amazing 35.1%.
These are just a few statistical data to back our theory. Without further ado, let’s take a look at the differences between casino betting and sports betting.
Casino House Edge
One of the major differences that casino gambling and sports betting share is the fact that casino gambling has a house edge. It is the total profit the house is meant to make on each game played over a long period. If this feature was not in place, casinos wouldn't make profits and in turn, go out of business. The house edge ensures that they make profits in the long run. This means that the casino house mathematically has the edge over punters, but this does not mean that the house will always be top placed. Some punters occasionally have some winning streaks, which could make them earn more profit than the casinos. Gamblers have to be careful about being overconfident when they experience such streaks. They should know when to exit the game with their profits because if they bet long-term, there is a chance that they will lose more than the amount they win.
Sports Betting Odds
On the other hand, the odds are mostly against punters when it comes to sports betting. Using horse racing as an instance, placing a wager on horses is a gamble against other bettors. It is because the odds are determined by the total betting amount on each horse. Other significant factors are the taxes deducted and the organizer's profit. These deductions are made on the amount gambled on the top three performing horses. The remainder of the money is split across the winners who placed wagers on these horses. It is worthy of note that even the favorite horses achieve victory positions in one out of three attempts. This means that the bettor has to put in some additional amount apart from the betting money; as mentioned above, the money in question is meant for the house. This commission is referred to as the vig, and it is kept by the bookmaker whether or not the punter wins or loses.
Casino Betting Promotions
Promotional offers from online casinos are very tempting. They offer free spins and no deposit bonuses to new gamblers. Always ensure that you understand the rules, terms, and conditions of every promotional deal you might want to take. Check the betting amount involved and also ensure that there are no restrictions that you are unaware of. Researching before signing up for any casino, be it online or offline, is recommended.
Sports Betting Promotions
Sport betting platforms offer completely different type of promotions. Most of the bookies offer free or no risk bets that players could redeem when they input a code or register. You can also come across deposit bonuses that increase your bankroll for free. Finding a platform that has both options is a plus.
With the points stated above, it is not difficult to decipher why casinos have witnessed more growth than the sports betting market. The choice of the option to go for boils down to personal preference.