Why is it that wagering contests are usually on games with a house edge and not on sports betting?
I’ve seen a few contests where you need to reach a certain wager amount to qualify, and sometimes the player with the highest total wagers wins by the end of a set date and time. But it’s almost always on slots or other casino games with a house edge, not on sports. Any reason why that’s the case?
That's because they know that if gamblers bet on sports they would have more chances of winning and this games doesn't give the casino enough Profit. It's easy for gamblers to lose a huge amount of money when playing casino games, sports betting on the other hand is kinda slow, after placing a bet it's possible to wait for several hours before knowing the outcome of the game. Casinos are after making quick income
I doubt gambler will have high chance of getting profit when playing sports betting but you’re right that they do choose slot games for the reason that players lose more on this game due to volatility and pure random of this game compared to sports betting that player can minimize their risk through proper sports betting analysis.
Slot games is the worst game to choose for a wagering contest if you want to accumulate wager for the sake of tournament. So if there’s a choice of game, house games like Plinko is the best due to the option with high winning chance and have a turbo mode.