What sets sportsbooks apart from social sportsbooks? The answer lies in how they operate, the rewards they offer, and the experiences they provide. While both cater to sports enthusiasts, their goals and business models are entirely different.
Social sportsbooks bring a fun, community-driven twist to sports betting. Traditional sportsbooks, on the other hand, offer a chance to bet real cash on your favorite teams and games. Let’s break down the key differences!
A sportsbook is a platform where you can place bets on various sports events. It allows you to wager real money on outcomes such as which team will win, the total points scored, or even specific in-game events. Some of the key features of a sportsbook include:
Social sportsbooks are casual, community-driven platforms where you can enjoy placing social sports bets in a fun, low-stakes environment. Unlike traditional sportsbooks, social sportsbooks don’t involve real-money. Instead, they focus on virtual currencies like Gold Coins and Sweeps Coins. These virtual currencies can be obtained for free through a variety of different bonuses and promotions. Some of the key features of a social sportsbook include:
You can place social bets with virtual currencies which are obtained for free. Some of the promotions used to claim them include welcome bonuses, daily reloads, referral codes, VIP programs, and more.
Built to encourage friendly competition with features like leaderboards, group challenges, and chat rooms. They are also often connected to social media, allowing you to participate in giveaways, share strategies, and challenge friends.
Since you’re betting with virtual currency, there’s no money involved, making it perfect for beginners or casual sports fans.
Rewards can include more virtual coins, sweepstakes entries, or small prizes depending on the social sportsbook. The prizes offered often include gift cards and cash.
The table below outlines some of the key differences between sportsbooks and social sportsbooks:
| Feature | Sportsbook | Social sportsbook |
|---|---|---|
| Money involved | Real-money betting | Free-to-play and uses virtual currencies |
| Regulation | Licensed and heavily regulated | US sweepstakes regulation (focused on free-to-play entertainment) |
| Audience | Serious bettors and sports enthusiasts | Casual sports fans and social gamers |
| Experience | Competitive, professional, high-stakes | Fun, interactive, and social |
| Risk level | Financial risk involved | Low risk (virtual currency only) |
| Payouts | Real money | Virtual currencies or sweepstakes prizes |
| Accessibility | Bettor typically deposits funds to participate, limited availability | Accessible in most US states, free to use |
| Examples | DraftKings, BetMGM, FanDuel | Fliff, Legendz, SportsMillions |
One of the big differences between the two is the fact that social sportsbooks do not require purchases or the use of real money to play, unlike traditional sportsbooks. This means that they fall under US sweepstakes laws and legislation, which are somewhat more relaxed than the online gambling regulations tied to sportsbooks. For this reason, you will often find social sportsbooks are legal in a lot ofUS states where traditional sportsbooks are not.
At a sportsbook you will deposit and bet with real money, any bets you win will be paid out in the fiat currency you have used to place the bet. If you win a bet, the payout is sent to your account balance, and you can then withdraw the money to your chosen payment method. However, you will typically need to fully verify your account, this includes providing proof of address and ID. Additionally, if you have claimed any bonuses, then your withdrawal may be subject to wagering requirements, or other terms and conditions.
At social sportsbooks, you place bets with virtual currencies, typically known as Gold Coins and Sweeps Coins. Gold Coins are used purely for entertainment purposes and can be used to place free sports predictions on any available market. You can use Sweeps Coins to enter promotional mode and make sports predictions on sweepstakes-eligible markets. Additionally, Sweeps Coins winnings can be redeemed for prizes such as gift cards and cash at most social sportsbooks. However, you will need to meet various terms and conditions. This includes meeting the social sportsbook's playthrough requirements, accumulating the minimum amount of eligible Sweeps Coins, and completing a verification process.
In summary, sportsbooks and social sportsbooks cater to different audiences, offering distinct experiences. Traditional sportsbooks typically appeal to more serious bettors with real money bets, while social sportsbooks provide a fun, low-risk environment to bet socially on your favorite sports matches using virtual currencies and community-led features. If you’ve been considering either of these sports betting options, you’re in for a fun-filled experience. But, which will you choose? The power is in your hands.
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