I don’t want to sound professional by way of definitions here, but just to give as graphic a view as possible of how the two keywords, gambling and betting, are related in the world of sports.

Gambling generally refers to an activity in which money or something of material value is set aside for two parties to predict the outcome of an event and the bet is placed on the one whose prediction matches the outcome. The outcome of the event is evident in a short period of time. The game takes many forms, including lottery, casinos and any other similar game, which leaves the winner getting additional money or something of greater value.

Gambling is generally a contract between two parties, where it is agreed that either party will lose money or something of material value if that party makes an incorrect prediction about an uncertain outcome. The exact money or its value is known and, more often, it is provided before the result of the prediction.

Is there really a difference between these two terms? Although most of the time we interchange the use of the terms gambling and betting, I personally see a little difference. I see gambling as a subset of gambling, as the latter is a general term that does not connote any legality to appear in court if necessary.

Gambling is most often found on various sports activities, including NBA, MLB, and NFL. People really make regular income from gambling and they will love that you did.