There are two major reasons why sports betting is easier to win and more lucrative than lotto (unless you hit the jackpot)
and casino games.
First, lotto and casino games are games of chance, any sport, on the other hand, is undoubtedly a game of skill.
But when it comes to predicting the outcome, a sport stands on the borderline between a game of chance and a game of skill.
What this means is that it is nearly impossible to predict a lotto number with any certainty while predicting the result of a
sports game could be somewhat easier.
Second, the house edge, which is the percentage that a gaming agent collects from the players as a commission, which is also a
standard gauge of how good a wagering game is, has a value in the neighborhood of 5%-20% for sports betting, while it is typically
more than 50% in the case of state owned lotteries; the value varies for different casino games, but it surely is way less than
50% in most cases. Comparison of the house edge for the three categories of gambling is available in the article
Casino, Sports Betting, and Lottery - A Comparison of the House Edge
Although sports are the most common events for betting, nowadays you can place bets on pretty much any publicized event.
The outcome of presidential and other elections, the verdict on famous trials, private lives of celebrities (such as marriage,
divorce, child birth) are just a few of the events you can bet on.
In this part of this web site you'll find answers to the basic questions of betting such as,
What are the basic jargons used in sports betting? sportsbook, bookie, vigorish, odds, spreads, moneylines, parlay, etc.
How to bet online?
What are odds and how do they relate to a favorite and an underdog teame?
What are point spreads and moneylines and in which sports games are they used?
How are odds specified? What do odds of -110, 1.91, or 10/11 mean?
What are American odds? How to calculate and convert American odds
What are Decimal odds? How to calculate and convert Decimal odds
What are Fractional odds? How to calculate and convert Fractional odds
How to convert odds from one type to another? and how to calculate pay-outs and winnings?
What are parlays?
What are the advantages of betting on parlays?
How many types of parlays are there?
How to calculate parlay payouts?
What is buying spread points? What is selling spread points?
What are sub-parlays and how to make the best use of them?
Recommended winning strategies
How to choose a sportsbook?