Sports betting is a unique activity where your knowledge can change the odds. Sports betting uses insights, unlike casino games, which are random.
I find it not unique since it's the most popular type of gambling IMO. About your knowledge, it could increase your chances of winning but as to the odds... are you referring to odds set by bookmakers? If so, I think we see the odds as the same regardless on how we analyze it, and with a huge market available, it's always up to us on how to choose the odds that could result to a win.
Does this knowledge genuinely alter our risk perception? Many overestimate their understanding, leading to overconfidence. Sports are unpredictable, so even the best bet can lose. Let's examine your financial point. The idea of 'having funds to accomplish anything' is attractive yet perilous. Disposable money and needed funds must be distinguished. If betting becomes 'how much can I afford to lose?' it can be harmful.
We all know that, it doesn't need to be repeated from time to time. As a responsible gamble, we understand the risk very well.
Remember that gambling is fun, not a financial strategy. Could the real skill be self-control and financial discipline as well as game knowledge? Excitement and responsibility may be the winning combination!
It could be fun and financial strategy at the same time, at least for me. Since we are discussing about sports betting here, it's quite different than other casinos where house edge are gonna rip us in the edge, in sports betting, we can take that away with our skills to analyze in choosing the winner.