
Betting and gambling are synonyms, aren’t they? They are just words you can interchange when meaning more or less the same thing, is that right? Well, to most people, this is the case. Even with some reputable online and offline platforms, as well as, social media channels, betting and gambling are just synonyms that can be interchangeably used.
Surprise, surprise, the wide use of the words betting and gambling interchangeably doesn’t mean that they are synonyms. Rather, they are just two different words which have somehow been misconstrued by many to mean the same thing.
So, if they are different, what exactly does each word mean? To get a clearer understanding of what each word means and note the differences that exist between the words, just spare a few moments to check out this guide.
Gambling – What does it mean?

Gamble or gambling are two words which are widely used the world over. They are used in different circumstances but the overall implied meaning is the same in all scenarios. Whenever the words are used, they tend to describe a decision or action that’s being made which comes with a rather sizeable risk to it. For instance, rushing to the mall to grab a loaf of bread while leaving your 3-year-old child at home alone can be described as a gamble. This is necessitated by the fact that there is a risk element attached to leaving a 3-year-old alone.
Drawing upon the example above, we can come to the clearest definition of the word gamble. Gambling refers to an act of risking something of value on the outcome of a beneficial event or process. In the example above, by leaving a 3-year-old alone in a house, you are risking both the child and the house on the outcome of coming back with a loaf of bread in the shortest period of time.
Contextualizing this in the sports betting world, the term gambling, therefore, is defined as the action or decision to risk a quantifiable or tangible asset often money on the outcome (or occurrence) of an event. In gambling, the specifics of the outcome of an event are rather vague. They may mean the outcome of the roll of a dice, spin of a wheel or spin of the slot machine.
Essentially, gambling is a term which is largely used when playing at online casinos where games of chance are played.
Betting – What does it mean?

Betting differs from gambling in that it’s a rather specific term. Like gambling, betting refers to the act of risking a quantifiable or tangible asset on the outcome of an event. However, this definition is expanded to refer to an event which comes with pre-defined odds or possibilities. This definition, as such, means the act of betting does not apply to wagers placed on games of chance as they don’t come with pre-defined odds or possibilities.
In the gambling world, events that come with pre-defined odds and possibilities are generally sports betting events. The word betting, therefore, is used in the sports betting industry. When a player places a wager on a sports event, she or he is said to have placed a bet or engaged in the betting process.
Thanks to the ever-changing world of gambling, nowadays, players can engage in events such as eSports betting, virtual sports betting and novelty betting. The word betting applies to all acts of placing wagers on any of these events as they all come with predefined odds or possibilities.
The Differences between Gambling and Betting at a Glance
For all the major differences between gambling and betting at a glance, check out the table below.
Gambling | Betting |
Simply involves taking a risk on the outcome of an event | This entails taking a risk on the outcome of an event, which comes with predefined odds or possibilities |
Covers a lot of activities both in the mainstream gambling business and beyond | Is quite specific as it covers events that come with predefined odds most of which are related to sports betting and novelty betting |
Players involved base their predictions on luck and chance | Players involved base their predictions on skills and strategy |
The outcome of the event is often quick or immediate, for instance, the spin of a wheel, the spin of a slot machine or roll of the dice | The outcome of the event is often long-term, for instance, the winner of a tournament or a presidential race |
More risky as all hopes of winning are based on luck and chance | Less risky as the chances of winning are dependent on the player’s skillset and playing strategy |
The Similarities Part

While we have highlighted the differences that exist between gambling and betting, the mere fact that these two terms are sometimes used interchangeably even by reputable online and offline brands means that they do share some sort of similarities. Similarities between these two terms do exist and they are as follows:
- For both terms, players do risk something of value, which in most instances, is money
- The outcomes for both gambling and betting activities are based on an element of chance albeit with those engaging in gambling entirely placing their hopes to win on luck while those who engage in betting placing their hopes on the twin factors of luck and chance/luck
- Both gambling and betting involve three major elements namely, a valuable item often money, the risk element and the outcome often a monetary payout.
Round Up
Though the terms gambling and betting are interchangeably used, they have some stark differences which make them applicable to distinct activities. To know which one you are engaging in, just note that when taking risks solely based on your gut feeling, you are engaging in gambling. Alternatively, if you are taking risks which involve permutations and calculations, you are engaging in betting.
Frequently Asked Questions (FAQ)
Q1. Does gambling and betting mean the same thing?
No, betting and gambling do not mean the same thing. Gambling refers to the act of placing wagers or anything of value on the outcome of an event while betting entails placing wagers or anything of value on the outcome of an event, which comes with predefined odds or possibilities.
Q2. Is the roll of a dice a form of gambling or betting?
The roll of a dice is a form of gambling as the outcome is purely based on chance and doesn’t involve any predefined odds or possibilities.
Q3. Can I gamble with anything other than money?
Yes, anything that holds value, is quantifiable or tangible can be used as a wager when gambling.