Online Casino vs. Sports Betting: How Do The Odds Compare?
29 June 2019
Everyone loves a rivalry, and gambling is no exception. Many sports betting sites and online casinos offer their customers the same things, but they’re not the same thing – they’re aimed at different types of gamblers, who bet in different ways, and enjoy sometimes wildly different odds.
Comparing the odds of these two great ways of gambling isn’t straightforward, but below I’ve given you all the essentials to help you compare online casinos with sports betting.
Recommended reading: Tips For Using Casino Offers
How do the odds of online casinos & sports betting compare?
I’ll start with the most important thing – you cannot compare the odds of online casinos and sports betting in a forensic way. Sorry to disappoint you, but it’s simply not feasible. Why? Because not only are there different odds for every online casino game and sports bet, every site has its own unique odds for the same games and bets.
Now I’ve got that out of the way, let’s talk about the key thing you need to know – the comparison has a rivalry that looks like this: online casino house edge vs. sports betting odds.
Online casino house edge: how likely you are to win
Every online casino you gamble at is weighted in favour of the casino winning over the gambler. This mathematical advantage is called the house edge and it means that casinos win more than gamblers in the long run.
The house edge is expressed as a percentage in each online casino game and you can find it by getting the RTP (return to player). The RTP is the amount of money that gamblers win back from online casinos in the long run.
Here’s how it works – if a game, such as blackjack, has an RTP of 99.5% it means that if player bets £100 then returned £99.50 over time. This means the house edge is 0.5%, or £0.50 of every £100.
In order to improve your odds at winning at an online casino, you need to find one with a good RTP. You can find casinos with the best RTP by checking a respected reviews site, such as OnlineCasinos.co.uk.
Sports betting odds are based on raw outcome probability
Sports betting odds are very different from those in traditional gambling games. They are calculated on the raw probability of an outcome happening. Sports betting sites make their money in the long term based on the outcome being in their favour, and gamblers not cashing in – it’s not a million miles away from how insurance companies operate.
Odds in sports betting are almost always shown as a fraction, but also relate to the percentage chance of something happening. For example, if the fraction is 1/1 your percentage odds of winning are 50%. Where confusion can be found in sports betting is in working out precisely what the odds mean – particularly if you think in percentages. To help with this, I recommend using an odds conversion table.
To boost your odds of winning when making a sports bet, I recommend using a dedicated sports betting tips website – one which helps you out by making predictions of upcoming sporting events – such as TipsFix.com.
What is the major benefit of choosing sports betting?
The big thing with sports betting is that it’s based on the form of teams and individuals. While this means that there’s a lot of chance and variables involved (for example, a key player could get injured in the middle of a match involved), it also creates a betting environment that favours gamblers who do their research.
Why? Because if you look at the form of players and teams you can go some way towards predicting the outcome of your bet.
Some of the other benefits to sports betting include:
- You can create your own bets
- There’s a huge variety of bets:
- proposition bets
- future bets
- in-play bets
What is the major benefit of choosing online casino betting?
If you’ve ever found yourself saying “chance would be a fine thing” then you might be suspicious of online casino betting – after all, it’s all luck, right? The thing is, though — many online casino games are based as much on skill as they are on luck.
This means that you can get better at these games by practising, giving you a greater degree of control over the outcome of your wagers than in sports betting – because you’re betting on the outcome of something other people (or animals) have control over.
Some of the other top benefits to online casino betting include:
- You can win money right away (don’t have to wait for a match result to come it)
- It’s often a more social way of betting than sports betting:
- Live casino
- Against other gamblers
While it’s impossible to say whether sports betting or casino gambling has the best odds for winning, there’s one thing I can say for certain – they are both fun ways of spending your money, with each giving you the potential for coming away richer than you started. Just make sure you gamble responsibly, whichever one you choose.