Some of the reasons sports betting is better than other types of gambling apply more to casual gamblers and some apply more to serious gamblers who are looking for long term profit.
By other types of gambling we mean casino games, dice, horse racing, poker, slot machines and anything else. In some places different types of gambling have different legal and tax ramifications so consider that for your location.
Pros of sports betting
Entertainment value of watching and researching sports
Sports betting adds fun and excitement to something you already enjoy watching and learning about, sports! Yay to that, it’s more fun, interesting and exciting than watching and learning about casino games, horse racing, poker, et cetera.
Easy to go from beginner to expert
Sports betting is great for the casual gambler. You can have a bet for fun on a team you think will win and get hours of entertainment for a small stake.
You can also easily get better and more serious about it by studying the sports and the bet types you are interested in betting on as all the relevant information is available for free online. You can easily add to this by familiarising yourself with some of the basic mathematical concepts such as odds as probability with overround and enacting the items on our how to be a winning sports bettor page.
There are very few barriers to going from square to sharp. Unlike in casino games, dice and slots where this is mathematically impossible, horse racing where you will need sources of inside information and poker where you will need to undertake thousands of hours of ongoing study, research and practise in mathematics, game theory and psychology.
Betting at a mathematical advantage
If you have a more accurate assessment of the probability of an outcome than a sportsbook you can make bets that have a mathematical advantage (positive expectation) in the long run.
If the sportsbooks edge built into the odds is 2.5% in its favour you need to be 2.5% smarter on any individual bet to be able to get the bet on the with a positive expectation of profit. This is never the case in casino games, dice and slots.
Cons of sports betting
Limited betting opportunities
Betting opportunities are few and far between and you rely on other people’s schedules which can change in ways that are out of your control. NFL games only happen 15 times a week, 3 days a week, for a third of the year. Baseball games are canceled due to rain and whole seasons of professional leagues have been lost due to labor disputes! Try to make a living off of that.
Horse racing, on the other hand, is a reliable 6 days a week from around 12:00 – 18:00. Casino, dice, poker and slots are essentially 24/7, play when you like.
If this sounds good to you we encourage you to give sports betting a go or if you already have we encourage you to get more serious with it by checking out the resources and tools on this website and opening an account with a high quality sportsbook that gives high odds such as Sportsbet (review) or Cloudbet (review).
Happy betting and long live bitcoin.