Both involve games, risk, and the opportunity to win some money. With that being said casino betting and sports betting have some fundamental differences too.
While many people who do one type of gambling also do the other(s), it’s important to recognize that the strategies that exist don’t necessarily cross over in all cases.
Despite the many differences, there are also some undeniable similarities that can be observed as well.
In this article, I’ll lay out how sports gambling and casino gambling is alike, and also how it’s different.
Similar: Proper Money Management in the Form of a Bankroll
No matter what type of gambling you’re planning on doing, you better have one thing in place – a working bankroll. Whether it’s a sports or casino bankroll, many things don’t really change in terms of what makes your money management strategy effective.
However, this percentage range may not be the same depending on which type of betting you’re doing.
If you’re betting on roulette, you can go through 10 bets in less than ten minutes. In blackjack, you might bet on 30 hands per hour. When betting on football, though, you may only make 10 bets throughout the course of the entire week.
That you should probably be betting less on the roulette hands and more on the football games.
In any case, regardless of the specific numbers that exist, the important thing to remember is that sticking to your bankroll is going to the most important factor in long-term, sustainable success.
Different: Calculating Probabilities
One of the things that makes sports betting so complicated is that it’s hard to break things down in a statistical, numeric fashion. Whereas in casino games you can get an exact percentage on what your betting options are, in sports, it requires a bit more instinct.
In the world of casino games, bets are typically paid out in a way that is in agreement with the overall risk. These aren’t arbitrary numbers. Before spinning the roulette wheel, nobody is calculating on-the-fly what the payouts will be if a certain outcome happens.
In sports betting, sportsbooks undergo a much more laborious process, albeit with some technological assistance, in setting the odds that bettors will use. Similarly, sports bettors must use an imperfect process when trying to calculate which plays would be considered high-value propositions.
It is remarkable at how accurate the oddsmakers are in sports, but the numbers still aren’t as black and white as they are with traditional casino games.
It’s rare, but it happens. In casino games, the odds are what they are, and it’s much more difficult to gain any type of edge due to additional information.
The bottom line is that when you’re playing real money slots, blackjack, craps, or any of the other popular games you’ll find in a casino, you have concrete numbers to act as your guide. In sports, there are additional factors that need to be accounted or when deciding which way to bet.
Similar: The Online Versions of Both Have Many Benefits
If you’re a sports bettor, there’s a good chance that you’re doing most of your betting at online sportsbooks. Spending a day in the sportsbook is exciting, but for most, it just makes more sense logistically to place bets through a digital platform.
What might be surprising to some is that casino games are also well-suited to the digital space. In fact, there are some benefits that make a real case that online casino gambling can be more lucrative than going into the physical casino.
As laws have become more accepting of gambling, there has been a tremendous increase in the number of websites that offer safe, reliable, and secure gaming experiences. As the amount of sites available to players has increased, so too have the efforts of the online platforms to gain new business in a crowded space.
For those who do gamble online, the heightened competition means players get to enjoy a range of different perks that each site offers in an effort to win over your action. While they vary greatly from place-to-place, things like sign-up bonuses, deposit matches, free tournament entry, and much more can all be taken advantage of when using online gaming platforms.
Not only do the financial or credit perks serve as a reason to utilize online casinos and sportsbooks, but the offerings themselves can be different too.
If you’re serious about making money with any form of gambling, the opportunities that online casinos present are something that can’t be ignored. Shop around and find which deals are the best for your particular situation.
Different: Betting Philosophy and Research
If you’re a veteran of casinos games, you know that in most cases there’s a right play and a wrong play. These are determined simply by what the statistics say. The difference between a “good decision” and a “bad decision” are quantifiable. The same cannot be said for sports betting.
As I mentioned previously in this article, the method in which you arrive at a bet when you’re sports gambling is much different than in the casino. Whereas the right play on a hand of blackjack is always the right play regardless of the circumstances, choosing the right sports bet is more of an art than a science.
Statistics matter in sports betting, but statistics are everything in casino betting. This can make sports betting especially challenging for those who aren’t well-versed. Then there’s that other factor to consider in sports betting that you won’t find in the casino: loyalty and emotion.
When you think of sports, emotion is inherently intertwined.
Allegiances to teams and biases towards certain players can unfortunately cause many sports gamblers to make decisions with their hearts rather than their heads. In my opinion, this is what makes sports betting so much more difficult.
Another reason sports betting is such a challenge is because it requires a good deal of research and critical thinking. Again, it’s truly an art as much as it is a science.
When betting on a game, you need to be up-to-date on all of the factors surrounding the contest such as injuries that may be under-the-radar, win/loss implications for each team, past history, individual matchups, and so much more.
When viewed through the prism of a sports bettor, perhaps the nice thing about casino betting isn’t necessarily the predictability, but the reliability and consistency of the games. The king of hearts is never going to take a night off, but the shooting guard on the NBA you just bet on may very well do just that.
Regardless of whether you prefer casino betting, sports gambling, or some combination of the two, a few common themes are important:
Finally, before betting any of your hard-earned money, make sure you have a strategy in place that will keep you from falling into a hard financial situation if things don’t turn out how you were hoping.