Sports betting sites and online casinos are both hugely popular, but on which should you gamble your money? There's no hard and fast rule, and of course you can always do both, but if you want to narrow your focus to one or the other, have a look at our handy guide below.
On this page you'll find out:
While there have been cases where casino players have won big money, there's no guarantee that you'll be able to emulate them as most casino games are based purely on luck (slot machines, roulette, craps etc.). It should be noted that every casino game will feature an in-built house edge, meaning that the chances of making a profit over the long-term are relatively slim. There's not too much you can do to improve your chances of beating the house, except for choosing the bet types which offer the best chance of success. Of course, you can also remove some of the reliance on luck by choosing to play games that require strategy, like poker or blackjack.
The house edge exists in sports betting, too, and is factored into the odds given to bettors. The benefit of sports betting is that the application of good betting practice backed up by some serious knowledge about your sport of choice can certainly increase your chances of winning in the long-term, although expect to have to work hard to keep abreast of changes in the sport. It's worth saying that though your chances of winning casino games is slimmer, the payouts can be much greater! It all depends on how lucky you're feeling…
Most casino games are based purely on luck, and so unless you're playing games like poker or blackjack, there's not much you can do to increase your chances of winning. If you were to become a high-rolling player, you could find that you get exclusive rewards, bonuses and cash-back offers that could help you tilt the odds in your favor, especially when playing games with a low house edge like blackjack and baccarat.
Other big winners tend to be those who play progressive jackpot slot games which randomly award jackpot sums. Note that such games may require you to place maximum bets in order to be in with a chance of being awarded the jackpot.
Sports betting involves a fair bit of skill, so it's easier to apply strategies that could increase your chances of winning. Firstly, it's important to choose a sport that you have good knowledge of so that you can make intelligent bets. It's also a good idea to set a fixed bankroll and betting strategy, and to identify where to get the best odds. To score the really big wins you'll need to invest in parlay (accumulator) bets, unless you're planning on laying down some extremely big wagers.
Mega Moolah ($26.7M CAD): A young British player holds the record for the largest online slot game ever when he won this mega-amount from the popular Microgaming slot.
Mega Fortune ($26.69M CAD): Just behind him was a Finnish player who hit the big-time on NetEnt's biggest paying online slot.
Mega Fortune ($17.5M CAD): Another Mega Fortune win for a Scandinavian player - this time a Norwegian winner struck it big back in 2011.
Sports Betting Wins:
Horse Racing (£1.45M/$2.45M CAD): The biggest sports betting wins tend to be accumulators like this one from a UK bettor. He selected 6 winners and his £2 bet at 725,000 to 1 proved to be a very good investment!
Horse Racing (£1M/$1.7M CAD): Another horse racing accumulator bet from Britain. This time a 50p bet at odds of 2 million to 1, where the punter predicted 8 winners correctly.
Horse Racing (£823,000/$1.4M CAD): Yes, it's another big winner at the track, with this 5-fold accumulator coming up big after a £19 bet.
Online sports betting and casino gambling have both seen major growth in popularity across the globe due to increasingly affordable smartphones along with greater access to speedy Wi-Fi connections. This has allowed people to bet or gamble wherever they are, whenever they want.
Online casinos in particular are becoming more sophisticated. The larger casinos will have as many as 1,000 or more games to choose from, meaning there are games to suit everybody. The latest slot games are a lot of fun, and live dealer casino games help to reproduce the atmosphere of a physical casino.
Online sports betting is particularly popular in the Canadian gambling market. Larger online sportsbooks will offer a large range of sports, with multiple betting opportunities on larger matches and races. Live in-play betting can also greatly increase the excitement of a particular match. There are plenty of professional sports bettors out there, and in a much greater quantity than those who make a living playing casino games (excluding poker).
The ultimate choice as to whether go with casino or sports betting must come down to your own personal preference. If you're a rabid sports fan, then the choice is easy, as you can combine something you love with a way to make some cash. You can also apply more strategy to sports betting, although obviously some luck will always be involved with any kind of gambling! On the other hand, rewards from a one-off casino game can be far greater, and there's no hanging around waiting for games or competitions to finish.
A balance between the two is probably the best, although make sure that you keep a tight rein on your bankroll. If you find that you're spending (and losing) too much on one type of betting, it may be time to re-examine your betting priorities.