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To bet or not to bet? That is the question. If you have ever worked at an online sportsbook and casino, you will be familiar with a unique class struggle: the difference between sports betting and casino gambling.
A professional online sportsbook will have a small team of oddsmakers whose role it is to set the line. Every sport in play will be under scrutiny: every move, every injury, every detail.
The oddsmakers are nearly always professional gamblers, confident that they have the skills – and knowledge – to win.
In many cases, online sportsbooks offer high performing bettors jobs, calculating that it’s cheaper to employ them than it is to keep taking their bets and a beating.
In the same building, another small team of staff will oversee the online casino.
There is no need to watch any lines or keep up with NBA, NCAA, MLB, and NFL action.
All they have to do is keep the servers on, the players happy, and watch out for unusual activity. The house odds on blackjack, roulette, baccarat, and slots never change.
So what is the difference between someone who bets sports and someone who enjoys to gamble at the casino?
We’re taking a Techopedia deep dive into the difference between player who enjoy a bet on sports and players who love a little action at the casino.
Semantics – The Difference Between Betting and Gambling
To bet or to gamble? There are many who will make the argument that a bet is different to a gamble.
When you bet, you are wagering on an event where the outcome is determined by the performance of the players and/or participants.
When you gamble, you are wagering on an event, without any clue about the possible outcome.
Of course, in reality both sports betting and casino betting have a house edge factored in.
If you bet both sides of a sports event at the same sportsbook, you will lose about 10% of your total stake. That’s the vig aka house edge.
A quick note on arbitrage betting. This is where you make bets at different bookmakers, with different odds.
Occasionally, you can get a situation where you can bet both sides, at a different line, and get a guaranteed win – regardless of the result.
In the long run, though, both sports betting and casino gambling have the same outcome: a house win.
Gambling Demographics
There are multiple studies exploring the demographics of gamblers, online and offline. There are some definite trends.
In the US, sports bettors tend to be young, male and wealthy.
Sports bettor stats, according to Ipsos and Fantast Sports & Gaming Association (FSGA):
- 39% of sports bettors are under the age of 35.
- 69% of sports bettors are male.
- 51% are white.
- 44% have an income of more than $100K.
- 84% are fans of a particular team.
- 67% have attended a live event.
- 62% enjoy playing fantasy sports.
- 67% work full-time.
Casino players, according to International Gambling Studies:
- 55% of casino players are male.
- More women tend to play online.
- Casino players are aged from 25 to 65+ years old – a much broader range than sports bettors.
- In physical casinos, the largest number of players come from the 45-64 age bracket.
- More than 70% are likely to visit a casino with a friend or spouse.
- More than 50% of land-based casino players say they are not likely to play online.
Risk Perception
Sports Bettors
Punters who bet on sports do it because they think they will win.
The wager is not perceived as a gamble, for many, it’s ‘an informed choice’. Although aware that there is risk involved, the sports bettor considers it a risk worth taking believing that they can accurately predict the outcome of an event.
Casino Players
Casino players understand the risk but bet regardless.
They know that all the games come with a predetermined house edge that states, in black and white, that they will likely lose in the long run.
The risk is understood but ignored; a trip to the casino is a social event; a fun night out that costs money. If they win, it’s a bonus.
Skill vs. Chance
Sports Bettors
Most sports bettors think they have some knowledge or insight about the sport or game on which they’re betting.
They study form, follow the teams, and watch the line. They believe their knowledge of the team, its players, strategies, and performance, all add weight to the value of their bet.
This knowledge elevates their bet to more than simply ‘chance’. They believe they possess a skill.
Casino Players
Casino players are more likely to be motivated by enjoyment and self-indulgence.
Although the house edge of some games, like blackjack, can be reduced by playing perfect strategy, most casino games are pure chance. It’s down to luck.
Motivation
Sports Bettors
There are several things that motivate a sports bettor. Gambling adds excitement to the experience of watching a game. There is also a desire to outsmart the market, or ‘beat the bookie’.
A huge social element also has a role to play in sports betting, with post game celebrations and commiserations an inevitability after every NFL Sunday or big Saturday horse race.
Casino Players
The motivation here tends to be more about ‘me time’ and the opportunity to take a break.
There is also the evergreen dream of the big win, as well as the social element of either online chat or meeting at a casino.
Frequency and Duration
Sports Bettors
Sports betting is determined by events. It makes certain sports betting gambling opportunities sporadic and seasonal.
However, there is a horse racing meeting somewhere almost every day, and the internet makes it easy to bet on sports globally. If you want to find sports betting action, it’s never been easier.
Casino Players
Casino players are more likely to participate consistently; visiting casinos, both in person and online. There is no schedule of events and players can keep their own timings and plans.
Strategy
Sports Bettors
Sports betting is the preferred choice for players who enjoy putting their expertise to the test.
Most sports bets are considered by risk and value. Parlays are often made as strategic players; combining multiple events for maximum reward.
Casino Players
Strategy is a factor with games like poker and blackjack, however, most casino games are pure chance.
Short of betting your favorite number at the roulette table, there is no specific strategy in play. However, there are several bankroll management strategies – Labouchere, Fibonacci, Martingale – that can extend play.
Jackpots and Bonuses
Sports Bettors
Parlays are the ‘jackpot’ bets of sports wagering; by combining multiple different wagering outcomes, players can create potentially enormous wins.
Bettors can also be seduced by reload and welcome offers. The best sportsbook bonuses run all year round, but event-specific offers, like those offered around March Madness and the Kentucky Derby, can be extra generous.
Casino Players
Casinos are not primarily event driven. However, slots races, tournaments, and bonuses, that feature a specific game, can all drive business.
Calendar events like Christmas, Easter, and Halloween are also marketing opportunities that stimulate casino players.
Key Differences
Sports bettors are younger, more likely to be male, and will bet with friends at sporting events. Many see sports betting as a way to accumulate wealth.
Casino players tend to be older, have relatively lower incomes, and treat gambling as a social activity. It’s a game of chance – not a means to an end.
Arguably, the main difference between a sports bettor and a casino player is the perception of skill.
The self-belief that the sports bettor can beat the bookmaker and call the right result. In a few exceptional cases, this is true. In the long run, though, it’s odds on that the sportsbook will come out on top.
Semantics are exactly that: words. Betting, gambling, sports betting or casino action; it’s all gambling. In moderation, fun. Remember: enjoyment, not employment.
