If you love gambling, you’ve probably already searched for the best methods to make money, and the strange thing is, there is no direct answer to that question.
Some of the most popular types of gambling are online casinos and sports betting, but let’s go further down the rabbit hole and unveil horse racing. Horse racing is a sport that is designed specifically for betting. After all, races last around 2-3 minutes, and even though they are exciting to watch, it is a lot less entertainment time compared to other sports.
Therefore, the main focus of horse racing is betting. Horse racing betting is also very popular just because of the great odds and winning chances. You can win a lot of money on a single $2 bet, just like online slots with their jackpots. It is hard but definitely possible.
Speaking of slots, they are also dominating the online gambling industry and remained the top choice for bettors for decades. But why?
Well, they are entertaining and beginner-friendly, and lastly, they offer huge jackpots.
This brings us to the question of which is more profitable: horse racing or online slots?
Let’s find out.
What is House Edge?
In order to determine which betting type is more profitable, we must look at each house edge. House edge is a percentage that the house takes just to cover the costs for providing the game and of course, make some profits. Basically, the amount of money you’ll lose.
This is perfectly fine for online slots, but horse racing doesn’t quite work that way. The house edge in horse racing is not pre-determined by the bookmakers or the house. After all, horse racing betting is all about making strategic choices and handicapping a race in order to choose a horse with the biggest winning chances.
But, we can definitely go through the data and see how likely is to win a horse race bet and from there calculate the house edge.
Horse Racing and Online Slots House Edge
The house edge in slots is different for each game. It comes down to many factors, such as type of slot, game developer, options, and more. Slots also have RTP (return to player) or the amount of money the player would win in the long run. This is the opposite of house edge. For example, if the RTP is 92%, the house edge is 8%.
There are slots with RTP from 80-99%, but don’t get too excited. Choosing a slot with a 1% house edge doesn’t mean that you’ll win more money. In fact, the RTP or house edge is calculated over a long period and from all the bets placed.
On the other hand, predicting the house edge on horse racing is difficult since it all comes down to knowledge about betting and the choices you make.
Here, it is all about the predictability of the races and calculating the chance. In a race where there are 17 participants, the average house edge is around 4.12%. But this isn’t for everyone. After all, some bettors have more knowledge of the sport and can make wiser betting decisions than others.
Where Can You Win More Money?
There isn’t a simple answer here as well. In some cases, horse racing can be way more profitable than online slots, and in some cases, the opposite.
When it comes to horse racing, bettors usually hold most of the stings in their hand – meaning that they can make a decision based on data. With slots, bettors don’t have much choice. They can hit the spin button and hope to win. There aren’t certain strategies that can help you increase your winning chances.
With horse racing, the only thing you need to worry about is picking the right website and checking if there is a bonus to claim, like this one horse racing bonus by TwinSpires. Then, pick a race and do a lot of research before making a bet.
Speaking of bonuses, if you are a fan of horse racing betting, make sure to claim this.
So, which is better?
Well, horse racing is better for bettors who want more control of their chances and risks. Although it is quite an unpredictable sport, you can still win a lot of money.
Picking between online slots and horse racing comes down to personal choice. If you are someone who doesn’t know much about horse racing and will only place bets based on the jockey’s color, you are probably better off playing online slots.
While for experienced bettors who do a lot of research and make bets based on data, are more likely to win more money betting on horse racing compared to online slots.
So, make sure to try both and see which one suits you better. After all, betting isn’t only about winning money; it is also about the entertainment factor. You should choose the one that you feel passionate about.