Are casinos more profitable than sports betting?

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If you are a sports fan, whether basketball, football, hockey or horse racing, you have probably come across sports betting.

You may have seen long queues at sports betting stores with many sports fans trying their odds at predicting game scores with the hope of winning something. Several do because it takes good knowledge of sports and some luck. 

The sports betting industry is very lucrative boasting worth of close to $85 billion in 2019. In the US, online gambling boasts $306.5 billion in 2018. These revenues across the world are due to the 1.6 billion gamblers worldwide and 4.2 billion people who at least gamble once a year. This is largely because people take home winnings and convenience of modern technology, and the fact that many online casinos are launching daily. While there is no guarantee of which is more profitable with each having its pros and cons, it boils down to preference and considering some of these factors.

Bonuses to consider

Bonuses are a major part of gambling because they act as an incentive for both new gamblers and existing gamblers. They entice new gamblers into signing up while giving existing ones a reason to stay. Sports betting offers free bets where they allow a bettor the chance to place a wager without risk and receive payment for their winnings. Taking advantage of free bets only requires a bettor to register a new account with an online bookmaker. 

Casinos are also popular for their bonuses including welcome, sign-up, matched, no deposit and deposit bonuses that work to entice new players. Choosing the best casino though is very important, as some are fraudulent, and some have wagering requirements that are very difficult to meet. Casino Reviews recommends quite a few casinos and lists their bonuses, such as Jackpot City free credits that can be received when signing up. Matched bonuses, for example, will match the deposit made by a bettor to a certain percentage. A deposit of $50 could be matched with a bonus of $50. The most beneficial bonuses may include free spins, no deposit bonuses and matched bonuses. The purpose of all bonuses is often to lure new players and keep old ones. 

The odds are different 

One of the keys to gambling no matter what industry is the value of understanding odds. Both sports betting and online casinos have different odds that gamblers need to get well acquainted with before making a decision. In sports betting, knowledge is power. A bettor needs to know a lot about teams, players and their history in order to make an informed bet. Odds at casino games are much lower considering the house always wins. Some games with low odds include slots where you may win 2-10 percent of the time. While the odds for sports betting are dependant on knowledge, the ones for casino games are mostly based on luck and often some little skills. The odds for the latter are usually in the house’s favour.

Are you good at strategy?

Casinos always have the upper hand in their games especially for strategy games. Irrespective of your statistics prowess, the chances of winning are still minimal. Despite this, strategy is still helpful with some casino games so gamblers should be aware of where it may work to their favour. Some games where strategy is helpful include roulette, blackjack and craps. In craps, “pass line” and “don’t pass line” bets are a good strategy to help your odds while avoiding chasing after lucrative odds. In blackjack, getting a basic strategy card from the fit store reduces the house edge. In roulette, the best bets are odd/even and black/red while avoiding big board bets. Another strategy that may help with slots is understanding what the RTP of the specific slot is. The higher it is, the better the odds.  Using good strategies will not guarantee a win but it will help reduce your losses and if you are lucky, get you a win or two. Every gambler should be aware of the strategies that could work in their favour.

Conclusion 

Sports betting and online casinos are a major part of the gambling industry. Everybody loves a fun and entertaining activity that could potentially bring a return. Understanding the differences between the two is important for any bettor before deciding which to engage to maximise your fun and enjoyment. It is helpful to understand that the odds are different, different bonuses and the strategies that play in your favour. In most cases, even with this information, the choice still remains with what best suits the bettor’s taste and preference.

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