The gambling market, especially at the online level, is very compact! All verticals such as sports betting, esports betting, online casinos, virtual games, lotteries, and other games, are offered in a single web solution; for this reason, many gamblers consider all these iGaming products to be very similar to each other.
For insiders, however, this is not the case! Each game/service must be diversified in order to offer the best to consumers. In the opinion of these experts, it is good to focus on each individual segment in order to study and offer products that are always top and updated with the latest fashions and trends.
In particular, delegates and iGaming companies ask themselves: is there a difference between sports betting and online casinos?
The answer is yes… in our guide, we will try to analyze what are the main characteristics that distinguish these two market trends all over the world.
What are sports betting?
A sports bet is a form of gambling in which a user tries to predict the outcome of one or more scheduled sporting events.
The bets are divided into pre-match and live and are among the most developed iGaming trends in the world. A bet is accepted by a bookmaker, who applies “odds” in proportion to which the amount of the winnings for the bettor is established, obtained from the product of the odds for the amount wagered plus a part of the bonus starting from the sixth event in a multiple bet.
The events that are the object of bet are mainly football matches and horse races but also competitions concerning eSports( videogames) and Olympic sports such as basketball, cycling, volleyball, motorsports (motor racing and motorcycling).
What is an online casino?
An online casino, on the other hand, is a web alternative to the classic real casino. Lots of slots and roulettes are there ready to offer fun and excitement to all internet gamblers.
On these platforms it is possible to wager money as in a land-based lounge, moreover, attractive bonuses and dizzying winnings attract millions and millions of users.
To better understand the offer and characteristics of these websites, it is finally possible to consult comparators such as an example casino.online!
Having said this, let’s move on to the analysis of the main differences that divide sports betting from online casinos.
1 – Duration of the game phase
The first difference that divides sports betting from online slots is certainly the timing of the development of the game phases. A sports bet takes place for several hours or even days! This depends on the type of bet and the dates of the scheduled sporting events. Bettors like to watch matches on TV or in the stadium, so it takes several hours for a bet to run its course.
Playing at an online casino, on the other hand, is much easier and faster! Spins and timing depend on available credits but the game usually lasts no more than 1 hour.
Official figures tell us that the average time of a standard session at an online casino is 45 minutes. Obviously, this is not a constant!
2 – Gambler skills and ease of play
Playing online slots is quick and easy and you don’t need to have any special skills. Anyone can wager their money and try to win!
While with sports betting everything gets complicated: to be able to place a ticket you need to have knowledge and competencies about the matches.
To predict a sporting result, it is necessary to analyze data and feeds from previous matches, before deciding on which club to bet your money on.
3 – Possibility and speed of Winning
Another important difference consists in the possibility of winning. At the online casino, it is possible to touch mind-boggling figures and at very fast times! There are unlimited jackpots and higher payouts! Even just one lap is enough to permanently change your life for the better, this depends on the luck of each of us. If you are on the right game at the right time you are immediately in heaven!
This detail, on the other hand, does not apply to sports betting, in fact, it is not easy to exceed unlimited winning amounts, and at the same time to reach interesting figures you have to bet on many sports bets, thus lowering the chances of success.
4 – Different products for different categories of customers
Gamblers follow their instincts and are true to their nature! There are online casino lovers and sports betting users. Each of them has different demands and game ambitions, which is why the bets go from one side to the other without ever crossing over. This is an important difference that divides the bets from the casino.
5 – Territories
Fourth and last point that we are going to analyze today and that is the territorial factor! Based on this point, the industry tries to continuously research and present different solutions that can satisfy the local demographics of each state and / or continent.
There are specific areas inhabited by specific people with unique uses and customs and not easy to change.
There are traditions or standardized behaviors that train gamblers and lead them to wager their money on online casinos or sports betting without there being any quick room for change. The prevailing vocation of a territory, therefore, differentiates the market and differentiates the iGaming offer.
To conclude, it is good to say that in recent times online betting and online casinos have begun to cross paths, even if partially.
They have begun to approach the emergence of hybrid verticals such as virtual games which somehow have unique betting and online casinos in one solution.
Many customers love these games because they depict sporting events but the duration of these simulations is short and offers instant winnings as if it were an online casino,
Will this be the new trend destined to definitively compact the global iGaming market? The future will always offer us new and interesting solutions; we can’t wait to tell you about them! Enjoy iGaming products but in moderation!