What are the benefits of biking, as opposed to jogging?

I used to jog at a track, but it is too much of a hassle to get there, so I decided to ride a bike. But I'm wondering, does anyone have any idea if riding a bike is any better or worse exercise than jogging?

To me it seems that they are both just as good as one another for your legs, and the only difference is the upper body motion that you get from jogging but not biking.

Thoughts?
 
The main benefit of biking over jogging is that it is not as injurous to the knees. Almost all joggers will eventually wear down their knee ligament and need surgery. That's why fewer people choose to jog these days.
 
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