No, there really isn't. The only distinct difference is that the "sugar baby" lifestyle is just a way of dipping your toe into being a full blown prostitute.

I met a girl who had dated several guys from SA. She said in each case, it was one or two "normal" dates before the guy offered her $500-$1K for sex.

It's funny to me that "sugar babies" are treated as innocuous. In reality it is probably a lot more insidious than "real" prostitution because it serves as a gateway for girls to get into the game while lying to themselves.