Betting vs Gambling: What’s the Difference

Betting is a form of gambling, but not all gambling is betting. Many people confuse these two terms, but they differ in their features. Let’s learn how they differ.

What is Gambling

Gambling is a type of wagering where you put your money or something of value on the line, hoping for a lucky break. It is a broad term that covers games of chance, such as roulette, slots, bingo, and even sports betting. Gambling is mostly a shot in the dark, not a sure thing.

The table below gives you some examples of gambling, who offers them, and where you can play them.

What is Betting

But betting is not the same as gambling. Betting is a type of gambling where you play with your brain, not just your luck. You wager on the outcome of an event based on your knowledge and skill. You can bet on anything from sports to politics to horse racing, using statistics, trends, and other factors to make informed bets. Betting is not a blind gamble, but a calculated risk.

• Sports betting: Bettors can choose from various types of bets, such as point spreads, moneylines, totals, props, futures, and parlays.
• Horse racing betting: Bettors can wager on the winner or the order of finish of a race, as well as other aspects of the race, such as the distance, the surface, or the jockey.
• Political betting: This is a form of betting that involves placing wagers on the outcome or performance of political events, such as elections or policies. 

Gambling vs. Betting: Examples

Gambling:

• Casino games (roulette, blackjack, slots)
• Lotteries (Powerball, Mega Millions)
• Poker (Texas Hold’Em)

Betting:

• Sports betting (football)
• Horse racing (Grand National)
• Esports betting (League of Legends)

How to Choose Between Gambling and Betting

Whether you prefer gambling or betting depends on your personal preferences, goals, and budget. Here are some factors to consider when choosing between them:

• Motivation: Do you want to have fun or make money? If you are looking for entertainment and excitement, gambling might be more suitable for you. If you are looking for profit and skill, betting might be more suitable for you.
• Knowledge: How much do you know about the event or game you are wagering on? If you have little or no knowledge, gambling might be more suitable for you. If you have some or a lot of knowledge, betting might be more suitable for you.
• Budget: How much can you afford to lose? If you have a low or limited budget, gambling might be more suitable for you. If you have a high or flexible budget, betting might be more suitable for you.

Gambling vs. Betting: The Main Differences

Check Yourself

Is Betting Gambling? 

Yes, betting is a form of gambling, but not all gambling is betting. Gambling is a broad term that covers any activity where you risk money or something of value on an uncertain event.

How is betting different from gambling?

Betting is when you wager money on specific events with fixed odds, such as sports or esports. Gambling is when you wager money on any games of chance, such as casino games or lotteries.