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The Difference Between Football Betting Odds and Casino Odds to Win

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Millions of players around the globe enjoy testing their luck by betting and gambling. While sports fans are eager to place their bets on their favourite teams, others like to try their luck by playing slots and table games. Many would argue that betting and wagering are the same, but that’s not the case. Even though both rely on luck to some degree, there’s a big difference when it comes to winning chance. This article will address how are betting and wagering different and how you can calculate your probability of winning a bet and winning a wager. After a closer inspection, you’ll immediately understand the core differences between the two.

How are Football Betting Odds and Casino Odds Different?

There are quite a few differences between betting odds and casino odds. Let’s first take a look at betting and mention what makes it specific, after which we’ll focus on wagering and explain how it’s different.

Football Betting

Football betting revolves a lot around having luck. However, there’s the element of staying in touch with the latest news, updates and regularly watching football games. Why is this important? Well, true football enthusiasts can make better betting decisions. In a way, their knowledge of football, league, and players helps them place the bets in their favour. There’s still a lot of luck in the process. However, experienced bettors are more likely to win a bet than online casino visitors. If you’re wondering how, it all comes down to probability, which we’ll mention later in the text. Therefore, betting requires a little bit of knowledge of the sport you’re betting on.

Casino Wagering

Those who love to wager at an online casino should know that it’s more different than betting. Unlike betting, where you should have a certain degree of skill and knowledge to increase your odds of winning, wagering is a pure game of luck. While various players have different strategies that increase their chances of winning a little bit, the house edge is still on the casino’s side. That doesn’t mean that the gambler can’t win. It just means that the chances are simply lower. No matter if we’re talking about blackjack, roulette or slot games, wagering your money in every round is a pure test of luck.

What’s the Probability with Football Betting Odds?

If you’re eager to learn more about football betting, it’s essential to understand the betting odds. First, you’ll find them in factional and decimal order. Those are just different ways in which odds are presented. They have the same probability of winning. In our example, we will use a couple of fractional odds to show how they’re calculated. The formula is as follows. The percentage is equal to B/(A+B). A/B stands for odds such as:

 

  • 1/1 translates to 1/(1+1) = 0.5 which is 50% that a particular outcome will occur.
  • 3/1 = 1/(3+1) = 0.25 which is 25% chace of the outcome happening
  • 6/1 = 1/(6+1) = 0.14 which is 14% chance to win a bet

 

That might be the math behind betting, but bookmakers sometimes create different odds to throw off bettors. That’s why experienced ones can use the odds sometimes to turn the odds in their favour. Only a professional bettor can successfully predict who is the next championship manager to be sacked. Despite varying odds, the player can make the final decision from the massive amount of time he spent following what’s happening behind the curtains. Therefore, while probability is easy to calculate, things quickly change if the best player in the team becomes sick. It’s these little things experienced bettors pay attention to before placing their bets.

What’s the Casino Wagering Probability?

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Casino wagering is much different from betting. All the games you can play there have different odds of winning. Unlike betting, these odds are much lower, but the rewards are significantly higher. However, aside from following some strategies to increase the chances of winning, there’s no additional knowledge or skill to use in wagering. Unless you’re playing poker, which is considered a game of skill. If you’re curious about the probability of winning in the casino, here are a couple of examples to consider:

  • Slots - Slot games have the lowest chance of rewarding their players. Even though they can have a high RTP, the chance to win on a spin ranges from 1 in 5,000 up to one in several million.
  • Roulette - If you’re playing numbers in roulette, your odds of winning a number are 1 in 37. That translates to 2.7%, which is extremely low. That’s why you get the reward of 35 times the amount wagered. But if you bet on red or black, the percentage is 47.4% for the American or 48.7 for the European roulette.
  • Blackjack - Many people’s favourite, blackjack also has a high chance of winning a hand. It stands at 42.22%.

So every game you see at the casino features a different winning probability. It’s important to note that you’ll never find a casino game with the chance of winning going over 50%. That’s why there’s the expression that the house always wins. No matter the game, the odds of winning are always in the casino’s favour. So every wager relies solely on luck.

Conclusion

If you’re wondering which one to play, it depends on your preference. Both football betting and casino wagering revolve around luck. If you’re a sports fan, betting on football might be a better option for you. Still, that doesn’t stop you from looking at the casino games and having fun over there. The only important thing to remember is that different games have varying house edges. Do your research, find out which games have the lowest house edge, and enjoy playing those. You’ll have the highest chance to potentially win.