The gambling industry is one that is composed of millions of people all over the world. There is something that is just so inherently appealing about the idea of betting and competitive gambling that makes it such a lure to people. In particular, online betting and gambling has grown to unparalleled heights in history. Internet speeds are as fast as they have ever been and almost everyone practically has access to a smart mobile device these days. It’s now more convenient than ever to hop online and place a bet for something. All of this has been made possible by the internet.
However, not all forms of online gambling are created equal. There are those who prefer to do sports betting online. For example, you can place a bet on who might win in a potential Mayweather vs Pacquiao rematch or on whether LeBron James will win the NBA title again this year. That’s a form of online gambling that is immensely popular with a lot of people. However, there is also another form of online gambling that’s done through online casino platforms. These are live casinos that typically offer a variety of games that are designed to simulate the environment of a real traditional casino.
Given that COVID-19 is still continuing to ravage the world and that many people are struggling to get their hands on a vaccine, it’s likely that most of the population will continue to stay online. Not many people are flocking to traditional casinos anytime soon. Given that, if you are itching to gamble and you haven’t done so yet, try exploring the online space. You can choose between doing sports betting or you can do online casino gambling as well. There are certain pros and cons to each and they will be highlighted in this article.
Who Has Competitive Edge?
When it comes to gambling with a game of chance, you always want to know who has the statistical advantage or competitive edge. This way, you stay fully aware of your odds and this awareness will allow you to be more intelligent about your betting. Of course, gambling should always be done recreationally. It should always be for fun. But that doesn’t mean that you should be careless about it, right? Recreation doesn’t always have to mean recklessness. In fact, part of the fun is being strategic in your betting. Now, let’s assess who has the edge when it comes to sports betting or online casino gambling.
When it comes to casino gambling, the house always makes money. That’s the only way that they would ever be able to stay in business. This is why the house always has the edge. Of course, the odds can vary depending on the game that you’re playing and your level of skill with that particular game. For example, a higher level of skill in poker or blackjack will put you in a better position to win big. However, even in a game like poker, the house doesn’t lose any money because you’re merely taking other people’s money if you win. In a game of chance like roulette, the house always has a 2.7% higher chance of winning each turn.
When it comes to sports betting, the bookies are the ones who have the advantage here. Oddsmakers will typically set a certain wager on a sporting event. For example, the Lakers might be deemed to win Game 5 of the NBA Finals against the Heat by 7 points. This means that anyone who bets on the Lakers can only win if the Lakers score 8 more points than the Heat in that game. These odds are set by oddsmakers who specialize in determining outcomes with a 50% probability. So, in theory, every bet that you place will be a fifty-fifty shot. However, when you make a bet through a bookie, they will typically charge you a little extra for that. For example, in order for you to potentially win $100 in a sports bet, you will have to pay $110 to your bookie. If you make some good enough bets, in the long run, you’ll come out ahead. But if you’re splitting your wins fifty-fifty every time as probability predicts, then you’ll come out behind.
What Kind of Gambler are You?
Next, we have to determine what kind of gambler you are. Your gambling philosophy will help you determine what kind of online gambling platform would suit you best.
For Big Money Gamblers
If you’re the type of gambler whose sole purpose is to increase your money, then you would probably be better off with sports betting. That doesn’t mean that you are assured of a profit whenever you do sports betting. However, the risks that are involved in sports betting are a lot less than when you do casino gambling. You also have higher chances of winning bigger if you know your way through the sports betting world.
In fact, there are some sports betters who are so savvy at betting that they will be classified as a sharp. These are the kinds of sports betters who are consistently able to pick winners and generate constant profits with their bets. Some bookies will sometimes refuse to accept or limit the action that these people can get for particular sporting events. Savvy betters have found a way around this by placing their bets through other people called runners. But for the most part, very rarely do people win so much that they would be classified as sharp.
For Casual Gamblers
For casual gamblers, then casino gambling is definitely the way to go. If you’re just the type of person who wants to gamble as a form of fun and recreation, then the environment of a casino would most likely suit you better. This form of gambling is also typically better suited for people who aren’t big fans of sports. It’s not a lot of fun to gamble on something that you’re not particularly interested in. You would take the recreation out of sports betting when you aren’t even capable of sitting through a game and enjoying it.
Online casinos can be a better venue for these types of gamblers because of the variety of games. There is bound to be at least even just one casino game that would suit the casual gambler. There are games like poker, blackjack, baccarat, and even slots which are considered all-time favorites by casino patrons.
Other Things to Know
Casinos Offer More Bonuses and Promotions
You would never hear of anyone winning a jackpot through sports betting, but this happens fairly often in a lot of casinos. First, most online casinos offer very generous bonuses for first-time players. They would even bankroll new users just to get them on the platform. These are the kinds of promotions that you would typically find in the sports betting scene.
Sports Betting is More Diverse and Varied
Sure, when it comes to casinos, you are afforded the opportunity to play different kinds of games like baccarat, poker, and blackjack just to name a few. It’s also the more appealing option to people who just generally don’t enjoy sports. However, if you happen to be into sports, then your options become even more expansive through sports betting. It’s not just about how many different kinds of sports there are all over the world. There are also different leagues that play these different sports. Aside from that, sports betting can come in different forms like moneylines, totals, prop bets, point spreads, parlays, and more.
Practice Responsible Gambling
At the end of the day, the choice is yours. There are certain pros and cons to each form of online gambling and you just need to choose which one suits your personal preferences the best. After all, we all have different personalities. There are some people who are looking to win big instantly and so they might opt for sports betting. There are also those who enjoy the process of playing games, so they might prefer casino gambling more. Whatever the case, it’s always important to practice responsible gambling. As much as possible, don’t gamble with money that you don’t own or have. Also, if you feel an addiction developing, make sure that you don’t let it affect your life negatively.