With the US finally moving towards being fully onboard with online gambling, the online gambling industry is getting ready to move into overdrive. At the bettor level, everyone is trying to figure out exactly what kind of online gambler they want to be. The next year is going to be truly exciting for online gaming software developers, website operators and online gamblers all over the world.
What we know at this point is novice gamblers seem to start out as “equal opportunity gamblers, willing to give any option a look. As they pick up experience, they begin figuring out their preferences. Largely, online gamblers are aligning in one of two categories: online casino players or sports gamblers. Just for fun, let’s contrast these two forms of online gambling and try to help people decide which one better suits their specific desires.
Risk and Speed of Play
All form of gambling require the bettor to take some kind of financial risk for some level of financial reward. For casino gamblers, the per-bet risks are very small but often very frequent. For instance, an online casino gambler playing blackjack might wager $5 a hand. Given the speed on the game, it’s very easy to play 40 hands an hour. While very unlikely, the bettor has a risk of $200 an hour. Given the house’s advantage, the bettor is expected to lose a small percentage of their bankroll over any period of time. The longer they play, the more they can expect to lose.
For sports bettors, each bet usually creates a larger risk, but happens less frequently. For instance, an avid sports bettor might wager $20 a game on 10 games or matches. It’s the same $200 a casino gambler might wager in an hour. The difference is most sports event take 2-3 hours for resolution. So, while a casino gambler might risk $600 in 3 hours, the sports bettor is risking $200 for the same three hours of entertainment. It’s a lower overall risk level unless the casino gambler lowers their bet, or the sports gambler increases their bet.
Chance Versus Skill
A game of chance is a game where the outcome of any event is completely unpredictable. All casino gambling is done on games of chance. Once a wager is placed, the chances of winning or losing are pre-determined by the rules of the game, which always give the house an advantage. Furthermore, there is nothing a player can do to sway the advantage into their favor. Turn of a card, spin of a wheel/reel or role of dice creates a random result. Based on the rules of each game, the house has a built-in advantage that’s sheltered against any “system” known to man. Everything depends on chance. By the way, there is no such think as luck.
Sports betting has nothing to do with chance. Just the same, the outcomes are barely predictable. While casino gamblers can only participate by placing their bets, sports gamblers can handicap a game or match and try to determine the most logical outcome. This is done by getting access to information and statistics that might shed some light on how teams and players might perform. Astute sports gamblers can identify trends that can aid in the selection process. They can also get access to information about team issues, injuries and weather conditions. Taking everything into consideration, sports events have some level of predictability. Professional gamblers take advantage of this predictability. Remember, the bookmaker is taking bets on both side of any event. If they do their job, they will have equal action that provides the commission (vig) for taking the bets with no vested interest in the outcome of the event.
Online casino gamblers can wager on approximately 20 different types of games. They have video slots, video poker, scratch cards and about 15 table games from which to choose. In all cases, the games have similar rules and a finite of possible outcomes. Even with the availability od 1,000 different video slot games, the outcome possibilities are common with only slight difference in return. The only variety really comes from the game them and a bonus game or two.
Sports bettors have hundreds of individual events to bet on every day. There are usually 20-30 different available betting markets and a dozen betting options on each event. The outcome of each event is predicated on a thousand little things that can create different outcomes. That’s why casino gamblers only cheer during wins while sports gamblers are cheering on the action.
The above information is designed to give you, the new online gambler, an idea of what to expect. Based on your preferences, you should be able to figure whether you would be better-served as an online casino gambler, a sports bettor or and “equal opportunity gaming enthusiast.
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