As the phrase indicates such gambling is done online and it can be either live or off-line. Even the offline versions are carried online but are not based on real-time data but data that is fed with a lag. Lotto websites are the biggest example of online gambling. Websites exist that provide members free or paid chances to choose various combinations of numbers, alphabets, or figurines and wait for results.
Depending upon how many matches you are able to manage from the officially chosen set you are paid a certain sum depending upon the pre-decided odds. Many casino websites offer the entire casino software for download on the computer while some websites like cece188 are entirely online. Slot machines are a very popular part of this software. This would involve a slot machine interface and clicking or dragging generally means that you have run the slot.
Depending upon the combinations and matches of the numbers, figures, etc you are awarded money according to determining odds. Roulette software also does the same and the only difference is that you have a roulette interface and a ball falling in numbered slots decides what and how much you win based on odds. Your loss is the amount placed on a bet by you.
Sporting websites that accept bets are numerous. They accept business worth millions of dollars every season day. Boxing, NBA, tennis events, soccer tournaments, cricket matches all attract bets from the interested gamblers. In this mode of gambling, events are defined based on the sporting event and then odds of winning or losing are decided alongside betting amounts.
Normally there is a minimum that you could bet and the upper limit is either not defined or placed very high. Bets are taken prior to the start of the concerned sporting event (sometimes even as the event progresses) and books are usually closed as the event starts. Then the outcome of the event automatically gives the outcomes of various sub-events on which bets were placed. Winnings are distributed on correct outcome predictions.