What is the Difference between Gaming & Wagering?

Both are forms of gambling; the difference between them is one is based on skill plus a bit of luck whereas the other is based entirely on luck!


Gaming refers to all gambling games of chance where you risk some money then hope you get lucky and win, no skill involved.


Some typical examples are:


Lottery;

Scratch tickets;

Roulette, Craps, Baccarat & most casino games and;

Electronic Gaming Machines.


In all of the above, and in all other forms of gaming, you risk some money then hope you win. You have no influence over the outcome.


Wagering refers to all gambling games of skill where you make an intellectual decision on what you think the outcome will be, then hope you win; skill plus luck are involved.


Some typical examples are:


Sports betting;

Poker and;

Horse Racing bets.


Some might argue that highly skilled blackjack play would also qualify as wagering.


The important point to take from the above is that you should understand the difference between games of skill and games of chance.


There is a world of difference between a gambler who watches and studies football and places a bet based on his or her study of: form, goals, trends, weather and players versus a person who buys a lottery ticket and hopes!


Casinos make higher profits than Sports Betting companies. Do you now know why?


It’s because persons wagering on sports can use skill and knowledge to win from sports betting every day, whereas persons who are gaming are just hoping to get lucky, against the balance of probabilities!


Mostly they don’t, of course because, as the old saying goes, “The House Always Wins!”


Remember, always bet responsibly