Gambling and Betting. Why the Distinction? - page 11.

Fatunad

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Quote from: Alphakilo on April 10, 2024, 05:57:19 PM

I was today years old when I found out that if betting and gambling isn't exactly the same thing. If you Google the word betting most of the results will be in regards to sports betting. Also Google the word gambling and you will see most results refer to casino games. In my own opinion whether we bet on the outcome of a sports event or we bet on games of luck and skill in the casino, they are both the same thing. Which is why I wonder why there is this distinction between the two? Why can't we say casino betting just as we say sports betting or sports gambling just as we refer to the casino when we talk about gambling? I know it sounds weird saying casino betting or sports gambling but what do you think about this?

Gambling pertains about putting up some money to earn money or simply it is really just that in overall the same concept that you are betting on something to win something.
It do really just turns out that betting is really that commonly be considered or use in sports betting rather than the term used when you do deal up with those things rather than on casino games.
If we do really tend to dig throughly or something that in-depth understanding then it is really just that all the same and this is something just in default. Why do bother if betting and gambling is just the same?
Of course as long money is involved then you are really that risking up your money to win money. It do only differs on how its been done because sports betting and casino games are totally different to each other.

Julien_Olynpic

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The difference between sports betting and random casino games is that in betting you can do at least some analysis and at least somehow predict the outcome of the match, but in random casino games the outcome of the game is completely random and therefore completely unpredictable. Based on this, in sports betting there is a small percentage of people who are profitable in the long term, and in casino games such as dice or roulette there are no people who are profitable in the long term. Therefore, it makes no sense to play dice or roulette, counting on long-term winnings. I can theoretically admit that there are such phenomenal people who can be long-term profitable at roulette, but my mind refuses to believe it.

pinggoki

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Gambling is the general term, if you look at the definition of gambling in Google, it says there that you're wagering something of value on a random event with the intent of winning of winning something else of value, those are the exact word for word on the first result which means that gambling is the term and betting is just a type of gambling. Betting is still wagering of value to a not so random event because it depends on who's the likely winner since there's skills involved but still, it's still totally random as underdog winnings can still happen, that's why they god odds right? If you really want to specify the distinction, maybe you can put betting as a subtype of another subtype and that subtype being the not so totally random subtype. I don't know the reason for the need for the distinction though, I don't even believe you can even get confused because one is an activity (betting) and the other is what you call that activity (gambling).

Fundamentals Of

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It's just the same. It may be that betting is more associated with sports betting, but betting is a general term that refers to making a bet. And that's what you do in all of gambling, whether it's sports betting or dice, crash, poker, slots, etc. They're all gambling and for you to be able to join or play and get a chance to win, the main thing that you need to do is to bet. In the context of gambling, to bet is the same as to gamble. Betting and gambling mean the same thing.

Assface16678

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Well, OP, you already searched for the difference between gambling and betting, so you should already know the difference between them and the meaning of each of them. Gambling is more on games that can be seen in casinos, baccarat, slot games, and many more games that originated in casinos, and they are games that require staking of money in order to play, while betting is where you are staking money on "someone" or a team, meaning your winnings depend on a person or an animal. In sports betting, you will bet on a certain team on who will win, or in boxing, you will bet on a person that you think will win. In example, in horse racing, you will bet on a specific horse you think will win.

See the difference now? In gambling games, you will be the one that determines your winnings because you will be the one that plays, while in betting, you will bet on someone that you think will make you win.

JMBitcointernational

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Quote from: Alphakilo on April 10, 2024, 05:57:19 PM

I was today years old when I found out that if betting and gambling isn't exactly the same thing. If you Google the word betting most of the results will be in regards to sports betting. Also Google the word gambling and you will see most results refer to casino games. In my own opinion whether we bet on the outcome of a sports event or we bet on games of luck and skill in the casino, they are both the same thing. Which is why I wonder why there is this distinction between the two? Why can't we say casino betting just as we say sports betting or sports gambling just as we refer to the casino when we talk about gambling? I know it sounds weird saying casino betting or sports gambling but what do you think about this?

Op from my own perspective I will rather consider the difference as a mere semantics because ordinarily in our local settings we see both gambling and betting to mean the same thing because both words are trying to portray same thing .just like when someone is trying to distinguish between indoor and outdoor games , the two here are trying to define sports but both of them are being performed in different places.

When you place a bet for the sole purpose of getting something in return is also the same when you gamble in a casino house for the sole purpose of getting something in return.the both talk about trying lucks but the process of achieving it might differ.

SmartGold01

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Well to me i still don't see any much difference in them since both are all luck based game and when it dispute the gambling theorem them we can have them being classified separately. In sport betting after having all games selected, there odds are being multiplied by the total amount staked to give a potential winning and these depends on luck for someone to win.

Oshosondy

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You are right.

If people are competing, you will bet on who will be the winner. But in casino it is different because no competition.

Quote from: Wiwo on April 10, 2024, 06:16:49 PM

We may see some few difference between sport bets and in house games and one of the notable discrifesy is in the area of house edge in casinos games, which is not present in sport bets since the result of a live match can not be minupulated to favor the house unlike in in house casino games where the casino interests is always put first before the gambler which is included in the terms of service as house edge.

If you look for difference in the odds in casinos and sport bets and compare it with the probability/chance of a gambler to win, you will notice that sport betting sites odds are lower than casinos odds. The low odd in sport betting site is the house edge.

Wiwo

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Quote from: Alphakilo on April 10, 2024, 05:57:19 PM

I was today years old when I found out that if betting and gambling isn't exactly the same thing. If you Google the word betting most of the results will be in regards to sports betting. Also Google the word gambling and you will see most results refer to casino games. In my own opinion whether we bet on the outcome of a sports event or we bet on games of luck and skill in the casino, they are both the same thing. Which is why I wonder why there is this distinction between the two? Why can't we say casino betting just as we say sports betting or sports gambling just as we refer to the casino when we talk about gambling? I know it sounds weird saying casino betting or sports gambling but what do you think about this?

We may see some few difference between sport bets and in house games and one of the notable discrifesy is in the area of house edge in casinos games, which is not present in sport bets since the result of a live match can not be minupulated to favor the house unlike in in house casino games where the casino interests is always put first before the gambler which is included in the terms of service as house edge.

But aside from this notable point above we may likely not need to make so much differentiation between sport betting and in house casino games since both rely and depend on a number of similar factors and outcomes of events.

Alphakilo

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I was today years old when I found out that if betting and gambling isn't exactly the same thing. If you Google the word betting most of the results will be in regards to sports betting. Also Google the word gambling and you will see most results refer to casino games. In my own opinion whether we bet on the outcome of a sports event or we bet on games of luck and skill in the casino, they are both the same thing. Which is why I wonder why there is this distinction between the two? Why can't we say casino betting just as we say sports betting or sports gambling just as we refer to the casino when we talk about gambling? I know it sounds weird saying casino betting or sports gambling but what do you think about this?

Topic: Gambling and Betting. Why the Distinction? - page 11. (Read 1282 times)