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?
I think the goal for the wagering contest is for the casino to gain a massive amount of bets/profit, as the bettors will probably get enticed with the amount of money to whoever wins it.
Sports betting purely depends on the event, and bettors have different preferences in choosing the sports they like to place a bet on. So, It is less profitable for them. Whereas, on the pure luck-based games, bettors can roll the slots & the dice as much as they want, and that means more profit for the casino.