Humans have been gambling for centuries. The inherent risk makes this activity irresistible and potentially addictive. We are keen on knowing the future. Foretelling how things will turn out, and seeing our predictions come true gives us a rush. Whether betting in sportsbooks or casinos, the appeal is similar. But how do these two activities compare?
These two activities are often confused. Today, gamblers and sports betters engage in their favorite pastime online. Myriad websites are dedicated to casino games, and generous bonuses make them extremely popular (the spelling in Japanese isノーデポジットボーナス). The same is happening with sportsbooks.
Definition of iGaming
The term refers to playing in digital casinos, which are packed with entertainment. One platform may offer hundreds of titles in all categories. Some gamblers are keen on table classics like blackjack. Others prefer slots for their simplicity and exciting features. Finally, there is the live dealer mode, which connects you to a human croupier through streaming video.
In a virtual casino, there are no informed predictions. Unless you play a strategic card game, the outcome of every session is entirely based on luck. This is both a benefit and a drawback.
On the downside, you have no opportunity to improve the odds with knowledge. On the upside, gamblers do not need special skills or expertise to win. Progressive jackpot slots like Mega Moolah offer gigantic prizes that can be won by anyone.
Definition of Sports Betting
Sports betting involves two parties — the better and the bookmaker. The former predicts an outcome and places a wager on it. The bookmaker accepts stakes from all bettors and pays the winnings to those whose predictions come true. This is an organized commercial activity, and it can take place online or in brick-and-mortar establishments.
The reason why the two activities get confused is that both words — gambling and betting — describe the act of placing wagers on an outcome. In casinos, players want to win in a game, while sports fans want a specific outcome for an event.
Both groups risk their own money. If a gambler places a bet on a slot spin, they win if a particular combination lands on the reels. Sports fans place wagers expecting a particular outcome of a football match or another event.
iGaming does not involve any real-life events. It is based on digital games which require a bet to play them. In essence, the gambler predicts that the outcome will be favorable, and they lose their stake if this does not happen.
Unlike sportsbooks, iGaming is only possible online — hence the name. This term is used to separate digital casinos from their land-based counterparts. Cash is not used — all payments go through electronic systems like e-wallets.
Betting is less risky because it involves events in the physical world. Fans research the past performance of sports teams to make informed predictions. The more they know — the better the odds, even though no outcome is inevitable (unless the game is rigged).
Meanwhile, online casinos are based on RNGs — random number generators. The outcome of every session is perfectly random, and there is no way to predict it. Previous bets do not influence the future outcome, but this makes casino games irresistible to millions.
The Bottom Line
As you can see, iGaming and sports betting are two dimensions of the same activity. Some humans crave risk, so they enjoy making predictions of events or game outcomes. Both activities are potentially addictive, which is why they are strictly regulated in many countries.
You can view the original article HERE.