Differences Between Social Sportsbooks and Traditional Bookmakers

Here in the United States, social sportsbooks and traditional bookmakers are the two platforms for players to wager on sports. Of course, the option available to you depends on the laws in your state. That said, some players might be curious about the differences between both types of betting sites: Is it how you play, or are there unique perks involved? Let’s take a close look at both platforms to uncover the key differences.

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What Are Social Sportsbooks?

Social sportsbooks are platforms to wager on sports, except not with real-money. These betting sites use virtual currencies called Gold Coins (GC) and Sweeps Coins (SC), which players receive for free as welcome bonuses when they create an account. 

By using virtual currencies, social sportsbooks shift the focus from winning prizes to entertaining play. Usually, you can access a social sportsbook via a web browser or a dedicated mobile app on your smartphone.

But why do these platforms exist? Because real-money sports betting is illegal in some states in the US. Social sportsbooks provide a platform for players in locations where traditional bookmakers are restricted to place bets on their favorite sports, but purely for fun. 

Can You Win Real Prizes on a Social Sportsbook?

The short answer is no; social sportsbooks use virtual currencies rather than actual money, meaning players cannot win real-money prizes as you would on a traditional sports betting website. 

However, these platforms allow you to play in two modes, with dedicated currencies for each mode. Playing with Gold Coins is strictly for entertainment. You win more GC, as a result. Betting with Sweeps Coins, on the other hand, works a bit differently. It’s still focused on fun-based wagering, but you can redeem SC won for actual prizes, such as gift cards.

That said, most social sportsbooks will require you to meet specific T&Cs, such as fulfilling a playthrough requirement (usually 1x) and having a minimum amount of Sweeps Coins in your balance, before redeeming prizes. 

How Do You Get Gold Coins and Sweeps Coins?

After creating a social sportsbook account, you’ll receive a specific amount of GC and SC as a free welcome bonus. Most social betting websites have different names for these currencies, though. So, don’t be surprised when you explore the list of social sportsbooks and find varying terms rather than the conventional Gold Coins and Sweeps Coins.

Aside from the new-player bonus, social sportsbooks feature promotions that award players with free gaming currencies. These include social media contests, daily reload bonuses, and refer-a-friend programs.

Alternatively, you can buy Gold Coins from the website’s store, although this isn’t necessary since social sportsbooks are designed to ensure players regularly receive free currencies. Players cannot purchase Sweeps Coins on these platforms. Instead, they’re included as free gifts for purchasing Gold Coins.

What Are Traditional Bookmakers?

Traditional bookmakers allow wagering on sports with real money. To use these websites, players must create and fund their accounts, after which they can bet on sporting competitions, such as the English Premier League and the FIFA World Cup. Like social sportsbooks, real-money betting sites offer a welcome bonus, but it’s triggered when you meet the minimum deposit amount. That said, state regulations in the US typically determine where players can access real-money betting sites. 

Where Are Traditional Bookmakers Legal in the US?

Currently, there are 39 states in the US, plus Washington, DC, and Puerto Rico, where players can wager real-money on sports. Some of these states allow only in-person bets at retail sportsbooks. Others permit both online and in-person play. To operate in these states, traditional bookmakers must have a valid license and abide by local regulations. Some states where real-money sports betting is legal here in the US include:

- Colorado

- Illinois

- New Jersey

- New York

- Maryland

- Delaware

- Indiana

- Kansas

- Washington

- Michigan

If sports betting websites are illegal in your state, you can keep your fingers crossed for regulations to change. Some states only recently legalized these platforms for residents. 

Social Sportsbooks and Traditional Bookmakers Compared

Social sportsbooks and real-money bookmakers allow players to wager on sports, but they don’t operate the same way. In the table below, we look at the differences between both platforms:

Which Option Is Ideal for You?

While both platforms allow sports betting, the difference between social sportsbooks and traditional bookmakers are obvious from the gameplay: one focuses solely on entertainment, while the other comes with real-money risk. 

For casual players seeking a fun way to wager on their favorite sports, social sportsbooks are ideal. Traditional betting sites suit bettors who are willing to risk funds on sporting events. But they must be legal in your state before you can access them. 

I (AKA CatBurg) have a lifelong passion for sports, especially football and basketball. I enjoy the thrill and excitement of sports betting and everything in between. My teams are (Packers #GoPackGo) and who I am betting on!