Betting and gambling – two terms frequently used by players all around the globe, which sometimes get confused.
Is betting considered gambling? And vice versa? Do they have a common ground? Which one is better?
These questions are on everyone’s lips, and it’s time to give some answers! Tag along as we delve into each one of them!
How to define gambling?
First and foremost, the term ‘gambling’ encompasses a wide range of concepts. Generally speaking, it means to place wagers on events whose outcome is yet unsure.
Gambling covers a pool of games, from Roulette to Baccarat, to Blackjack, to Poker and even more! Both the land-based and the online environments offer such options. The difference is that online sites create attractive incentives that they propose to new clients for retention, while in land-based, the only players rewarded are the loyal patrons or the high-rollers.
Of course, since they are called ‘games of chance’, luck plays a big part in the final result of any such match. But it’s not the only factor that can influence it.
Skill and practice are also two crucial points that can intervene in the actual gameplay and even determine its outcome. Needless to say, experience also counts tremendously, especially when you pick your opponent.
What does betting entail?
When one is betting means, he or she predicts a certain outcome of an event and, in return, wins or loses money. These include sports events, races and even politics (basically everything which employs two or more parties).
The betting can go as far as the Olympics, where people would guess the number of golden medals received by a certain country.
Or even politics – remember the 2016 American presidential election and the famous battle between Donald Trump and Hillary Clinton? Each debate turned the tide in one’s or the other’s favour.
Professional vs Amateur Play
Some players would part the two according to their professional and amateur status:
- Betting – amateur;
- Gambling – professional.
Nonetheless, both can be played by professionals and newbies, depending on how much time, energy and, of course, financial resources a person is willing to offer.
What is amateur play?
It mostly includes either gambling or betting done as a leisure activity, with lower stakes and independently. This is the most spread version of each; since it is more accessible, anyone can learn the basic rules and apply them in order to receive a favourable outcome.
What requires professional play?
There are mainly three things that set amateurs and professionals apart:
- Extensive experience;
- Very high stakes;
- Doing this for a living.
When we talk about a gambling experience, we refer to international or national competitions where players need to put their skills to the test and go head-to-head against each other.
For example, the World Series of Poker is an event held every year, where Poker players all around the world gather to play and win the famous WSOP bracelets. Moreover, most of them consider their winnings as income for their day-to-day life.
As for betting, it takes a lot of time and skill to learn the respective niche, to choose whom to bet on and, most importantly, to know when to refrain yourself or go all in.
Gambling Vs. Betting
When it comes to an understanding of the differences between the two, some would argue that betting is actually a branch of gambling, while others completely part them into separate categories.
The most noticeable difference relates to their intention: while betting is mostly attached to almost any type of major event: football, boxing or even the chances of something of historical and political importance to happen.
On the other hand, gambling focuses more on gameplay, the ability to build a game strategy and surpass your opponents. While betting does not imply competing against someone directly, and it is rather an unfolding of events upon which you don’t really have an influence, with gambling, things change: you get to step in and even change the course of the game.
Is there any resemblance between the two?
First and foremost, what you must remember is that neither guarantees you a win. It is true that studying and training ahead can play a big part in making your choices. However, they also rely on chance and, thus, uncertainty.
So, if you decide to take on either one of them, you should expect a 50% probability to lose. It is the risk you are taking according to the amount you put down.
Speaking of money, each relies on certain wagers. You start with an amount which you subsequently raise or quit the game if you feel like it doesn’t bring you any profit.
Finally, both of them have a stake, depending on the type of event you are attending. Since anyone can access each one of them both on a professional and an amateur level, the stake can reach certain ‘heights’. Keep in mind, though, to remember your budget and not go overboard with it. Knowing when to quit can also be a win in itself!
Sum up: which one to choose?
As you have seen, both have similarities and differences which can play a big part in making your choice.
However, first and foremost, you should take into account the following factors:
- Your budget – in order not to fall into the trap of addiction, it’s important to plan your moves ahead. For example, according to UKGC addiction statistics, more and more British players develop this condition, so make your choices wisely;
- Time – how much effort you are willing to put into any of them and if you choose to play at an amateur or professional level;
- Expectations: probably the most important aspect that sets in motion the other two factors mentioned above is the expectation. You should be prepared to win, but also to lose. Either way, it shouldn’t influence your gameplay in a negative way.