It is no wonder online betting is gaining popularity day by day, given the fact that the iGambling industry was worth $53.7billion in 2019 and is expected to reach $59.6 in 2020. People feel online betting to be comfortable and safe with more game choices. Check out the different betting types available today.
Types of Online Betting
Betting Exchanges (sports betting)
- A platform traders use to wage bets against other sports betters who place bets via bookmakers
- Some of the well-known betting exchanges include Betdaq, Betfair, and Matchbook to name a few
Matched Betting
- An exchange that requires both a backer and a layer
- Gamers will utilize the free bets offered by the several bookmakers, and here, the outcome is math-based, not chance-based
Arbitrage Betting
- Gamers will bet on all the possible outcomes of an event to maximize the chance of winning
Value Betting
- Games bet on only one outcome meaning the chance of winning is on the lower side
Betting Platform Types
Online Casinos vs. Sports Betting
Differences between Online Casinos and Sports Betting
| Sports Betting | Online Casinos |
| Outcomes of sporting events can be predicted consistently and with high-level accuracy | Outcomes are random and unpredictable due to RNGs (Random Number Generators) |
| Betting money on sports events can be done only at set times | Online casino games be played 24 hours a day |
| The odds on a sporting event rise and fall depending on what is taking place | The odds of winning or losing a bet at iCasino games remain consistent |
| Majority of the jackpots won on sports betting is due to promotions | Jackpot rewards are larger and offered regularly |
Online Casinos
- Web casinos offer all types of betting opportunities, even sports betting
- However, the extent and the class of services offered by betting exchanges are superior to casino services
- In the case of online betting, chances of tracking a player are less and quite difficult
- Does not permit human interaction at all; hence, lack of live responses
Offline Casinos
- Physical casinos do also offer all kinds of betting but lag behind online casinos and betting exchanges with regard to convenience
- In case of the traditional brick-and-mortar casinos, player tracking is possible and relatively easy
- Human interaction is everything in offline casinos
Lay Betting
- Gamers sell a bet instead of backing it, i.e., punters lay a bet instead of waging a price on the bet
Perks of Online betting
Why do people prefer online betting over high-street betting? Not too difficult to answer. And, here is why.
Bookmaker Accessibility
- Access to a host of bookmakers within a few clicks that in turn leads to a variety of promotions
Comfort and Worldwide Access
- Bets can be made from any place
- Access to a good deal of betting markets, and rewards and offers
- Availability of both online and offline services
Payment Choice
- Availability of various payment platforms including credit cards, bank transfer, and digital wallets. You can read more about anonymous bitcoin wallets and prefer to use them as they are very much popular and secure. By adopting it, you can perform the payment with full security and assurance.
Game Portfolio
- Availability of plenty of betting options such as sports betting and online casinos
Size of Bets
- No maximum and minimum sizes on betting options
It Is a Bright Future
On the whole, the number of options offered by online betting is more than those offered by offline betting. As sports betting witnessed a rise in its popularity, the various options in sports betting make it simple for players to chance their luck. The advent of betting exchanges has further streamlined the process, in addition to providing the transaction feature with cryptocurrency that makes the entire process easily accessible, is also adding to its popularity prospects.
