Casino Gambling and Sports Betting
Today, gambling is relished by millions of punters worldwide. The arrival of mobile devices and super-sonic internet connections has made it possible to play some of the best online casino games while waiting in a queue or stuck in a traffic jam. There is no black or white solution regarding the superiority of casino gambling or sports betting over another. A sports fanatic with a penchant for wagering may dabble into casino gambling here and there, but will often consume a significant chunk of his or her betting budget on sports. However, it is also an open secret that collectively (online and land-based facilities) casinos have always done better than the sports betting industry. Now, let’s discuss some fundamental differences between Casino Gambling and Sports Betting, respectively:
In casino betting, the house or the casino establishment has a mathematical edge over the wagering punters. Although, the house will not always come out on top and occasionally a punter with a lucky streak would make hay of gold. The odds are that in the longer run, the gamblers would lose more than they may win. Customers gamble by playing games of chance, in some cases with an element of skill, such as craps, roulette, baccarat, blackjack, and video poker.
Most games played have mathematically determined odds that ensure the house has at all times an overall advantage over the players. This can be expressed more precisely by the notion of expected value, which is uniformly negative (from the player’s perspective). This advantage is called the house edge. In games such as poker where players play against each other, the house takes a commission called the rake. Casinos sometimes give out complimentary items or comps to gamblers.
Alternatively, in sports gambling as well betting on horse racing the odds are similarly stacked against the bettor. This is because wagering on horses is a gamble against other punters. As the odds are ascertained by the total sum of betting money on each horse. More significantly, after applicable taxes and race track’s profits are deducted from the gambled amount on the top three successful horses. The remaining sum is divided among the punters who gambled on these horses. Still, the favorite picks in each race only taste victory on an average 1/3rd of the time.
This effectively means that in sports gambling, a punter has to shell an additional sum of money other than the wagered amount, which as detailed above is reserved for the house. The vig, as this added commission is referred to by the gamblers is kept by the house irrespective of a punter’s winnings or losses. The so-labelled point spread, the total points a bettor has to give in any game. Such as football, tennis or hockey levies more odds against the punter. This means that even if a person bets on a winning team, but that team does not win by more points than given by the punter, the bet would still be a loss for him or her.
In light of the rationale above, it is not hard to see why casinos are witnessing. A greater growth than sports gambling as well as other forms of betting such as bingo and betting exchanges. Today, Casino Gambling and Sports Betting are continuously adding more exciting features to their already attractive offers. Something that is hard for the sports betting industry to replicate. Therefore, it is quite hard for a beginner to avoid the razzmatazz of casinos, particularly the brick and mortar types. The reality of 2018 is that sports’ betting is still one of the fastest growing portions of the online betting industry. Moreover, the expansion of the online segment is also sluggish compared to preceding years as more sports punters are turning their eyes to the flashy slots machines or the classical roulette wheel.
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