Many online casinos have a variety of betting opportunities, including sports betting and online poker. These options are some of the best ways to make money from online gaming activity, particularly long term.
If you would compare them to games like slots, roulette and blackjack, or even online bingo and scratchcards, you would find that there is a lot more skill involved to be profitable compared to these traditional games. These games favor the bookies – if they weren’t there’s no way they would make money in the long run.
You are going to need some luck on your side from time to time, but there is more control over the outcomes. This means that sports betting and online poker give you a chance to beat the bookmakers. You must use your knowledge of the games and create strategies to give you the best chance at winning.
In the case of poker, there is a debate over whether it’s actually a game of skill or chance, but if you were to ask anyone that knows the game this question, there is no debate whatsoever.
So with all this in mind, let’s put them head to head: sports betting vs online poker.
Good players beat bad players over the long term. Bad players can get lucky in some moments, but overall they will lose against players that know what they’re doing. This means that online poker can be very profitable for players with the right skills and for those that are willing to put the work in.
Further, when you play online poker, you don’t even have to be the best player in the world to win. You can select different tables and tournaments based on the ability of the player pool. All you need to do is be among the best at the table you’re at; the bad players will give their money away to you sooner rather than later.
The main benefit of sports betting is that it can be treated as an investment vehicle, known as sports investing. Sports results can be analyzed in a way that can be used to determine how future events will occur. In other words, sports betting can be data-driven by taking away feelings and emotions and replacing them with systematic strategies.
There are all kinds of sports to bet on too. This means you can create multiple strategies tailored to different sports that will generate you even more money.
But which one is actually more profitable?
Well, the answer is subjective and will depend on your skills in either field. Here are some of the pros and cons of betting on sports and playing online poker.
Your profits from playing online poker or sports betting depends on how much time you are willing to put into studying the game/betting markets and how much money you are willing to invest in the first place.
No matter if you choose sports betting or online poker, the best way to build your bankroll is to gradually build it up in smaller increments by playing at smaller stakes/betting smaller units. This ensures that you don’t lose a significant amount of your bankroll on a single hand/bet if something goes wrong.
As noted by OnlineCasinoGems, online poker is the best option if you don’t have a large bankroll. This is because you can enter tournaments for a low buyin, but if you win, you can win much larger sums without risking too much to begin with.
The barrier to entry for online poker is getting quite tough. The digital age has seen lots of technology developed to “solve” the games. This means that as you move up the stakes, you will come up against better players that make use of the technology. Even if you understand the fundamentals, you will have a disadvantage as the tech can tell players exactly what they should be doing at each moment to play perfectly.
Also, poker tournaments can last a long time. If you don’t make it to the final table, even if you make the cash, your hourly rate can be pretty poor. Tournaments require a lot of patience too; you can easily become bored and decide to play a hand you would normally fold, putting your chips at risk unnecessarily.
The biggest disadvantage of sports betting is that if the games are canceled, you literally have no way to make money. Also, as noted by The Non-League Football Paper, if you have a winning strategy for non-league football, for example, you can’t then go and apply it to the English Premier League. Just because the leagues fall under the football umbrella, the dynamics are all different.
So, which one is better: online poker or sports betting? After all is said and done, it’s not really possible to say which is better than the other. There are good arguments to make on either side.
Most people treat online poker and sports betting as a hobby, making their evenings at home or weekends a little more interesting. For the people that use them as a way to make extra money, it’s far more than that.
It’s harder to make money from online poker today than it was only a few years ago. As discussed, this is due to the advancements in technology giving your opponents a chance to play nearly perfectly. That said, this also applies to sports betting. As more people start crunching the numbers, its profitability will also be impacted.
At the end of the day, the amount of money you will make from either activity comes down to your skill and willingness to work. It’s not just a case of waiting for pocket aces every hand or only betting on strong favorites.
It’s a fascinating subject and it’s one that will surely rage on for quite some time. For now, though, the one that’s better for you comes down to personal preference.