As one of the world’s most popular sports, one can only guess how many basketball fans are there globally. It’s not uncommon to find a basketball hoop installed at playgrounds, so anyone that’s interested can get a game going only needs a basketball. The sport has gained in popularity, so it is not unexpected that basketball has gained traction in the world of gambling and betting.

Gambling brings an uncertain outcome with an element of risk, and this is one of the main reasons people became so attached to gambling, as opposed to no pressure gaming. Whether events relate to somebody’s life or refer to a specific game or sports event, it’s our nature to want to know future results and how things will turn out.

Though gambling and betting are often confused as synonyms, they are not. With the prevalence of both we thought it would be a good idea to differentiate and establish the differences between betting and gambling.

What is gambling?

In general, Gambling is betting on the outcome of a game or an event that may have an uncertain result. It usually involves putting a specific amount of money at stake in the hopes of having what you bet for a win or come true to gain more.

It is safe to say that gambling is an activity that depends on the player’s luck and outlet choice. Many non Gamstop casinos assist the players during the experience. According to a review from Casino-Wise.com: sites not registered with GamStop, some of the most popular gambling activities are video slots, progressive slots, online casino games, and table games that include Craps, Video Poker, Roulette, Baccarat, as well as Blackjack.

Also, there is plenty of sports gambling, including basketball. The governments in some countries across the world tend to control or regulate the act of gambling. Since it is, in some cases, an addictive activity, we all know that it has led many people to lose a large amount of money in the hope of making an immense fortune through gambling.

What is betting?

Betting, on the other hand, is considered to be a form of gambling. More precisely, betting is all about predicting the outcome of a future event and placing a wager on that outcome. Officially, Betting is identified as an organized commercial activity between two parties. One that predicts an outcome and places a bet on that prediction, while the other either forfeit the wager or pays the agreed money to the player.

To put it another way, betting companies such as casinos invite their members to place bets. Winnings are then cashed out according to the bets that are waged by players. Currently, some of the more popular examples of betting are casino games, sports, horse racing, or even just about any important sports event taking place anywhere in the world.

Gambling vs. betting: main differences

Gambling and betting, in essence, are quite similar to each other in many ways. A player wagers a specific amount of money on a predicted outcome. It could be what scores both teams would have at the end of the first half of the game or which team you’re betting to win.

The difference between the two, however, is perspective. With an online casino game, your chances of analyzing the game are limited.

On the other hand, you can increase your chances of winning with sports betting by analyzing the team’s performance, location of the game, and the players’ strengths, to name a few.

Considering all these data points can make it easier for players to anticipate the outcome of sports betting than online gambling. But, the ability to analyze doesn’t mean that nothing is left to chance. Anything is possible with betting and gambling.

Take your time

If you’re an avid basketball fan or sports fan in general, you yourself may have already experienced betting or gambling at one point. You may have already been a few times lucky and won a couple of bucks. However, if you’ve just recently taken a liking to the sport and you’re new to the basketball world, you might want to rethink about planning on betting or gambling on it.

You might want to slow down for a bit since you’re new, and that means that you don’t have enough knowledge about the sport, which could lead you to end up losing. Yeah, you could say that it’s all about luck anyway, but knowing more may increase your chances of winning. So, focus on learning the sport before you lose money.