They are becoming more and more popular and more people are encouraged to try them. Although they seem to be two identical activities, there are very big differences between them.The most important ones are explained below.
Own games VS external events
When talking about casino games, the room that offers them is the one that organizes the games and manages the bets. On the other hand, in the field of sports betting, these are two separate and totally independent organizations.
If you bet on a Spanish First Division football match, the match is organized by the National Football League. While the bets are managed by different bookmakers that have nothing to do with the organizers of the competition. This separation makes many people see sports betting as more transparent than gambling, because potential conflicts of interest are avoided.
To find bookmakers where you can start your career in this activity, you can take a look at www.betting.es . Here you will find reviews of operators indicating the means of payment they offer, the sports they cover, user opinions…
Chance VS Probability
In a game of blackjack with 8 decks of cards you have a 7.69% chance of being dealt an Ace. But what determines whether this card is drawn or not is chance. So, people who participate in casino games make bets on events that depend entirely on chance.
On the other hand, in sports betting it is possible to analyze the situation in which the competition takes place to define which are the most likely events that could occur. If in a boxing match two boxers with defensive strategies face each other, who have never won by KO, there is a good chance that the fight will exhaust all the agreed rounds and will be decided on points.
While a casino player chooses an outcome and waits, the sports betting expert analyzes possible scenarios and sticks with the most realistic ones.
the house always wins
A person who goes to the casino and wins a prize must know how to withdraw on time. The house has an advantage over the players. And anyone who spends too much time at their tables will end up losing money in the long run.
If you check the terms and conditions of any online casino, you will be able to find a value called RTP associated with each game. It is a percentage that indicates the amount that is given as prizes with respect to what is collected. A slot machine with an RTP of 93% gives 93 euros for every 100 raised. And what about the other 7? The casino keeps them.
On the other hand, a sports expert, with good analytical skills, can make long-term profits in sports betting if he finds bookmakers that offer him interesting odds. By dividing 100% by the quota assigned to an event, you can obtain the probability that the house has estimated for said event. Thus, a odd of 2.5 indicates a probability of 40%. If you estimate that the real probability of its occurrence is higher, you will be making money in the long run.