How to Make Money from Online Gambling Wisely
Though this might surprise some of you, success in the world of online gambling is not all about luck. While a jackpot spin or a hot run of cards is beyond your control, the good news is that there are a number of factors which you can control to better your chances of winning and increase the longevity of your bankroll. In this article, we’ll reveal five key tips used by seasoned high-rollers to maximise their earning potential. Let’s get into it!
1. Game Selection to Minimise House Edge
It’s no secret that online casinos make their money by offering games where they (‘the House’) have an edge over players. However, what is less well-known is the exact percentages of these edges. A smart gambler will play games where the House edge is lowest, since this maximises their earning potential over the long run. Below we’ve listed some games where the odds are not harshly stacked against you:
Baccarat / Punto Banco
We won’t get into the boring maths here, but the House edge for baccarat is 1.06% when betting on the banker and 1.24% when betting on the player. However, it’s worth noting that betting on a tie gives the house a massive 14-15% edge depending on how many decks are used. Unless you’re just playing for fun, avoid the tie at all costs!
Blackjack
This game is an interesting one, because a player who employs a good strategy can dramatically lower the House edge to under 0.5% (more on this in the next section). Be warned if you’re a newcomer to Blackjack though – an inexperienced player can give up an edge of around 5% with sub-optimal play!
Poker
Unlike conventional casino games like those above, poker is played against other opponents who aren’t affiliated with the House. For gamblers looking to make a buck or two, this is great news since it means that you can be the one with the edge – providing you are a better player than your competitors. This is why it is possible to play poker professionally!
2. Optimising your Strategy
Particularly in regards to table games, employing an optimal strategy will minimise the House edge and maximise your chance of winning. The power of computing has led to many of these games being solved, giving gamblers who are dedicated to learning these strategies an opportunity to level the playing field against online casinos. We won’t delve into optimal play for all games here (we’d need an entire book for that), but here is a helpful chart for perfecting your Blackjack game:
A Note on Side Bets
Many casinos will offer unique side bets on Blackjack which usually offer big payouts. Don’t be deceived by these high offerings though! These sorts of bets usually give the House a massive edge and draw players into making strategically bad decisions in the hope of catching a big score.
3. Bankroll Management
When it comes to gambling, there is always going to be variance. This can be defined as a deviation from expected results given the odds at play. Educated gamblers protect themselves against this variance by betting only a fraction of their entire bankroll (less than 1%) at any one time. If a player does this, their bankroll should remain intact even after a period of bad luck and negative variance. The more bets you are able to make within your bankroll, the less variance you will experience. This is not to say that you need a huge bankroll for online gambling – but rather that you ensure the size of your wagers are relative to the amount in your bankroll.
It takes money to make money in the world of gambling, and blowing your entire bankroll on one bet will deny you the opportunity to make it in the future.
4. Look for the Best Bonuses and Loyalty Rewards
Almost every online casino will offer deposit bonuses for new players and give back to regular players with loyalty rewards and free bets. These deals can vary greatly between casinos – both in size and terms & conditions. Some sites might require you to stake your bonuses dozens of times before you are able to withdraw it. While reading the small print of these deals and getting a calculator out to compare them might not sound all that fun, the difference can be a matter of thousands of dollars if you are a regular player. Take this extra bit of time when finding the perfect casino to maximise the amount of money that goes back into your pocket.
5. Only Play Provably Fair Games
There’s no point in perfecting your strategy if the casino games you are playing aren’t transparently fair. Online gambling will always contain an element of randomness, and not all casinos are honest and open about the mechanics of their random number generators. At DAO.Casino, our goal is to address this problem with a verifiable, blockchain-based gambling protocol that protects players from unfair games. We are developing casino products which are provably random and cryptographically verifiable. We also use smart contracts, removing the presence of any potentially dishonest third-parties! This way, you can enjoy your gambling experience without having to worry about casinos rigging games against you.
With careful game selection, well-researched strategies, sensible bankroll management and a lucrative loyalty scheme – all within a provably fair gaming environment – it’s possible to win some good money gambling online. Enjoy yourself and good luck out there!