Casino games and sports betting are two of the most popular forms of wagering that are enjoyed today. Companies that operate one usually also offer the other to their customers as it means they can become a “one-stop-shop” for all the things their customers want to bet on.
Because of this, casino games and sports betting are often thought of as the same, but they are, in fact, very different. There are, of course, many similarities as well, but this does not mean that sports betting and casino games are the same.
Casino games are based on probability
Classic casino games that you’d find at sites like Loyal Casino haven’t changed much since they were first created several centuries ago. Blackjack, which is believed to have been played more than 300 years ago, still uses standard 52 card decks and still is based on the premise of making a hand with a value of 21.
The same is true for roulette, which has been based on the same red and black wheel since it was first played in France sometime in the 17th century.
Both of these games (and all other casino games) have another thing in common: they’re based entirely on probabilities. For example, in a standard blackjack game where the dealer stands on a soft 17, they will bust (on average) 291 times in every 1,000 rounds. This gives the house an edge of around 0.5% provided you’re playing a perfect strategy, but most players don’t, so that percentage is actually higher in the real world.
We can see the probabilities more clearly in roulette. In European roulette, where there are 37 pockets and no “00”, the odds of the ball landing on any one number in a single spin is 2.7%. In American roulette, where the addition of “00” means there are 38 pockets, the probability is 2.6%.
What about slots?
Most online casinos now offer a wide variety of slots. These also run entirely on probabilities and you will find the “Return To Player” (RTP) rate displayed for each one. This is the theoretical amount a player can expect to receive back if they play enough times. In reality, this is never actually what happens because sometimes you’ll get big payouts and other times your wins may be smaller.
Sports betting is about predicting the future
The odds are more obvious in sports betting because bookmakers physically display them. These explicit odds help you to see what outcomes the bookies believe to be more likely based on the myriad of factors that they take into consideration.
These odds are not fixed like in a card game, they will shorten or drift over time, as more information becomes available. For example, if a team’s star player gets injured in the weeks before a game, their odds will worsen, meaning you’d receive a higher payout if your bet was successful.
In this sense, sports betting is more like stock trading. Traders are required to predict the future performance of companies in the hopes of seeing their investments increase in value, but in the absence of a crystal ball, can never be certain of the outcome.
Regardless, both casino games and sports betting can be fun activities, and in most other respects go hand-in-hand.
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