Post
Topic
Board Gambling discussion
Re: Sports Betting VS Online Casino VS Bitcoin Dice VS Lottery ?
by
futurebit640
on 20/08/2016, 08:39:11 UTC
You can try sports betting because it has an advantage over casinos since House edge is not there and if you have decent knowledge about teams you can make small profits. Don't get greedy and learn properly.
Casinos have a house edge and hence you can never really win anything there.
I never won a lottery myself so I cant say anything about it.

The house edge is called "margin" in sports betting, for example team A vs team B, the odds of each team wins are 0.96, 0.96, so casino take the margin(4 usd, one win 96 usd, the other lost 100 usd) from equal betting(100 usd per side). They earn: 4/(100+100)=4/200 = 2%, which is the margin. Similar to casino house edge is 2%.

That doesn't matter to bettors because they know before betting what is their profit margin if they win the bet and we no need to worry how much casino is going make a profit. What is the guaranty that they will always get equal bets on both teams? I think that probability is very less compared to another one. Even though we need some luck to win the bet but it is much better than gambling on casino games.