So you’ve decided to place a bet on the game this weekend. Congrats! Now it’s time to learn the ins and outs of betting, so you can place the right bet and be on your way to some sweet bankroll gains. We’re breaking down the differences between the two major types of betting sites, so you can make the right choice for your needs. Here’s the lowdown:
Difference Between Betting Sites And Racebooks
The most obvious difference between a betting site and a racebook is the games that are available on each site. Racebooks tend to have a broader array of games than betting sites, as you might expect, given their name. While most betting sites only offer horse racing and sports betting, racebooks may also offer casino games, pari-mutuel wagering, and even poker! So if you’ve got a specific game or sports team you want to bet on, the search is over. You’ve found the perfect spot.
Where Do I Place My Bet?
Now that we’ve covered the basics of what a betting site and a racebook are, let’s discuss the location of your betting establishment. You’ll have two options here: land-based and online. If you’re physically located near a casino, racetrack, or sportsbook, your best option is to head there first and set up shop. This way you can maximize your enjoyment of the wagering experience, as opposed to remotely placing your bets from home.
For those of you looking to get in on some betting action from the comforts of your couch, the best options are either via a mobile app or the world of online gambling. Using a mobile app is pretty self-explanatory. Just download the app to your phone, create an account, and start placing your wagers wherever you like. Alternatively, you can play online poker, blackjack, or bingo, among other games, through a reputable online casino. Keep in mind that these games may have restrictions on where you can play, so make sure to read the terms and conditions before getting started.
When Do I Win Or Lose Money?
Another important factor to consider when evaluating a betting site is the payouts available when you win or lose money. Just like a casino, the house always wins in the long run, so you’ll never be able to cash out. On the other hand, most betting sites offer very good odds for winners, which means you may be able to cover your initial investment and then some if you get lucky. Keep in mind that the house always wins in the long run, so you’ll never be able to cash out, but you may be able to place winning bets multiple times before the bankroll runs out.
Common Betting Terminology
If you’re new to the world of betting, you may be overwhelmed by the amount of terminology used when discussing odds, point spreads, over/under odds, and more. Fear not! We’ve got you covered. Here are some common phrases and their definitions, so you can get the hang of things quickly.
- Odds: These are the chances of something happening. In the case of a horse race, the chances that a particular horse will win.
- Point Spread: This is the amount by which the favorite will win.
- Over/Under Odds: These are the chances that the favorite will win. If you think the odds are against you, you can choose to bet on the underdogs instead
- Straight Up: This is betting on the favorite. Everyone else’s bets are considered off.
- Exacta: This is when you get your money back if the selected horse wins exactly what you bet on it. Most sportsbooks offer this as a free option. Sometimes it’s not possible to get your money back if the selected horse loses, in which case you lose your wager.
- Totaling: This is when you add up all of your wagers and keep track of how much you’ve won or lost. You can also use a calculator on the website to get an idea of how much you’ve won or lost so far in the session.
Additional Considerations
While physically located at a casino, checking account is required for all deposits and withdrawals. Additionally, many online casinos, mobile apps, and some sportsbooks require you to register an account before you can place or cash out any wagers. Creating an account is free, so there’s no reason to be sold out just because you want to place a bet. However, creating an account does give you the advantage of keeping track of your finances and analyzing your betting trends. Plus, you may be required to verify your identity via email or a telephone call, so don’t forget to keep your password safe!
Final Takeaway
We hope this article has helped you better understand the differences between betting sites and racebooks. Each one has their perks and quirks, so think of what you need in your line of work and choose a platform that suits you best.