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The 21st century has brought with it many changes and there’s no better example of this than the gambling industry. Traditionally, players had to either go to a casino or to a betting shop in order to get their thrills, however now it’s as simply as opening an account with one of the online offerings.
The two most popular types of betting are now casino games (including but not limited too blackjack, slots, roulette, poker and craps) and sports betting such as wagering on tennis or soccer. It may seem a very different experience playing a game to betting on sport, but the main objective is almost always the same, to try and make money while having fun.
That’s why comparing the two can provide a useful resource for players looking to maximize their chances of winning from gambling. Which is the best option – betting on sport or playing casino games?
Sports Betting – What is the Bookmaker Profit Margin?
With casino games, the built in advantage (for the house) is sometimes obvious. For example, in roulette, the green pocket is the sole reason why they make money from that game. It gives the casino a statistical advantage with each spin. However, with sports betting, this isn’t as clear but rest assured there still is a profit margin.
The bookmakers achieve this by employing teams responsible for setting odds for sporting events and then trading staff to monitor changes in-play. Those specifying the odds will always reduce them slightly to factor in a profit margin. For example, if there is a tennis match between player Novak Djokovic and Roger Federer, and the staff think the outcome is 50/50 (i.e each player has the same chance of winning) they should offer odds of evens (1/1).
In reality, they would offer odds of slightly below this such as 10/11 (thus allowing them to make a profit). Find out more about Tennis Betting and how to make a profit.
Casino Games – The ‘House Edge’
As mentioned above, each casino game has a built in edge. So long term on a big scale players will not make a profit from those games. Some offerings are better than others though, for example blackjack has a lower edge than slots so the players chance of winning is higher.
Conclusion – Casino Games or Sports Betting?
Casino games, especially table options such as blackjack and roulette, will give a better chance of winning compared to sports betting if played correctly from a strategic point of view. However, betting on sport can make it more thrilling to watch and a lot more enjoyable.