Making Money From Casino Offers
How to make money at casino is a common question these days and if you are looking for an answer to this question look no further. It’s very easy to find a good casino site these days, but it’s not that easy to develop a good strategy that can help you minimize risk and maximize profit.
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In any case, it is possible to make money at casino, but you just need a good plan and discipline to stick to it. While it’s true that many of the casino games offered there are games of chance, it’s also true that there are good and bad players.
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If you are a fan of casino games and you want to join a casino site, then you should spend some time learning more about the best ways to make money at the casino. You can use this article to learn:
- How to play as well-informed players
- How to make the best decisions
- How to avoid unnecessary risks
So, do you want to learn the best ways to make money at the casino? We will highlight a few proven ways that can help you.
1. Select Casino Games with the Best Odds
First and foremost, you should know that not all casino games have equal odds. As a matter of fact, some of them have much better odds than others. For instance, online slot games have some of the worst odds you can find in this industry.
On the other hand, there are a few casino games with excellent odds. First of all, there’s blackjack, a card game with average odds that go below 1%. This is a simple game where you have to defeat the dealer, not other hands and a game that doesn’t require the development of a special strategy.
We should also mention craps as a game with good odds. If you play craps you can expect a 50-50 chance of winning a turn in this game where you are betting on a dice roll. Finally, we have roulette. This is a very popular casino game which comes in a few different versions. Regardless of the version, you have betting options like odds or even or black or red where you have 50-50 chance of winning.
As you can see, if you want to make money at casino, you have to get familiar with the odds. Of course, this is not the only thing that determines your success.
- Check the odds of each casino game before playing it
- Analyze the betting options you have in some casino games
- Play very safe at the beginning
2. Choose Online Casinos with the Best Payout
Obviously, the online casino you’ve selected has an impact on your success as a player too. So, it’s wise to opt for online casinos with the best payouts. By best payouts, we mean fast payouts even for high prizes. The same goes for the percentage of player bets returned in the form of winnings after a certain period of time. This percentage is also known as average percentage payout.
There are independent bodies that are investigating these numbers. What you should remember is that in order to claim that they have the best payouts, the casino must showcase a payout rate of 95%. In some cases, online casinos have payout rates of almost 98%. Do some research and find a casino site that promises payouts close to these numbers.
- Look for an online casino with a payout rate above 95%
- Use online casinos with fast payouts
- Join a licensed casino
3. Choose a Casino Site with a Generous Bonus Offer
One of the main reasons why online casinos have become so popular these days is the fact that most of them have exceptional bonus offers. Every guide that talks about how to make money at casino should mention the bonuses as one of the ways to do this. In other words, players should use casino bonus money whenever they can.
It’s good to know that there are different kinds of bonuses out there. For instance, there is a welcome bonus for new players and there’s a loyalty bonus for regular players. Read more about these bonuses before you use them. Another thing that is very important is to select an online casino which doesn’t have impossible wagering requirements.
A rollover of up to 50 times should be your higher limit. The best online casinos have rollover requirements of 20 or 25 times. Additionally, you can get a no deposit bonus which doesn’t come with absolutely no risk for your money. Take some time, conduct research and find the casinos with the most generous bonus offers.
- Select an online casino with a good welcome and regular bonuses
- Watch out for the wagering requirements
- Learn more about the different kinds of casino bonuses
4. Select Low Variance Casino Games
Some players may be sad to hear that less volatile casino games are usually the more lucrative games. There are players may argue that high volatility casino games are more exciting, but you have to decide what’s more important to you – to have fun or to make money at casino. Of course, low variance casino games can provide both. Basically, you should look for a game that requires a longer period to win a prize, but it also requires lower wagers.
Of course, if you are interested in winning huge jackpot prizes and you can afford to lose more money in a short period of time, you can choose high variance games like online slots, video poker, bingo, and keno. On the other hand, table games like Pai Gow poker are casino games that are considered low variance games. Don’t forget that in some cases, players have a direct impact on variance because sometimes it all depends on their gaming style.
- Stick to low variance casino games for long-term earnings
- Table games promise solid returns
- Avoid side bets and play conservative
5. Set Up a Budget
Joining a casino site and playing casino games takes just a few minutes. This is one of the advantages of playing online, but this doesn’t mean that you should do that right away. On the contrary, according to many experts, it’s always a smart move to set up a budget first.
Every casino player must know his limits before they invest their money in casino games. Money management is probably not the first thing that comes to your mind when someone mentions poker, blackjack or slots, but the fact is that if you want to make money at casino then you have to create a budget.
Obviously, you should never play with money you need to pay your bills or cover your everyday needs. As the old saying goes – play with money that you can afford to lose. Don’t forget that online casinos are available 24/7 and there’s no need to be in a hurry when visiting these sites.
- Determine your financial limits
- Don’t play with money that you can’t afford to lose
- Be realistic
6. Learn More about the Games you are Playing
One of the things that make casino sites so exciting and popular is that you can get access to hundreds of games. Of course, not all of these games are different and there are a few categories of games you can choose from like table games, card games, dice games, electronic games, a game of chance and more. But what’s known for sure is that each of them has specific sets of rules.
So, before you start playing on a casino site, make sure that you understand the basics of the game you are interested in. It would be even better if you spend some time reading guides that can help master that game. Usually, it takes some practice and theoretical knowledge to master a game. It’s also worth mentioning that some games are better than the others when it comes to learning.
For example, we can’t compare a classic slot game where you only have to push a button and Texas Holdem where people can apply a myriad of strategies and tactics. Another good advice related to casino games and learning these games is to play one or two different types of games at once. If you are playing three or more different casino games a day, you can become confused easily.
- Master a game you like
- Stick to one or two casino games at a time
- Choose a casino site which offers a variety of games
7. Know when to Stop
No one likes to be called a quitter, but there are times when you are playing casino games when you simply have to stop. The only reason why experienced players recommend this is the fact that you have more than your pride to lose here – you can lose all your money. But, what’s even more important is to understand that you have to stop even when you are winning. Many players have a specific time of the day when they are playing for a certain period of time.
It’s easy to get carried away and try to double or quadruple your earnings, but there’s no reason to test your luck because it will eventually fail you. In addition, you should never chase your losses or cover your lost bets. As we said before, a good casino player has a strategy and a plan and has to stick to it if he wants to make money at casino.
- Limit your gambling activities
- Don’t chase losses
- Don’t try your luck
8. Use the Chance to Play for Free
If you visit a land-based casino, you have to place a bet in order to play. But, the situation is different when it comes to online casinos. Namely, most of these websites are offering free play sessions for their most popular games. This means that you don’t have to invest any of your money to play a game there.
Obviously, this also means that you won’t be able to earn money, but you should look at this as a way to earn money in online casinos in the long run. By becoming familiar with the game you want to play, you will have an opportunity to master it. You can try all of its features and use different betting options and see how they work for you. Spend some time using these casino games for free before you invest actual money.
- Play for free in online casinos that offer free play sessions
- In this way, you will get familiar with the gameplay
- You can find many casino sites with offers like this
9. Choose an Online Casino with no Hidden Fees
In order to start playing casino games in an online casino, you have to place a deposit. In addition, once you want to withdraw your earnings you will have to pick a payment method. Generally speaking, all the online casinos have a few payment methods available for their players. But, what’s different in some of them is the fees. Most online casinos don’t charge fees on deposits, but the situation can be a little bit different when it comes to withdrawals.
The first thing that you should do is to check these fees. A reliable online casino should list these fees on a visible place. In the end, you should not notice any hidden fees in your balance. While you are there, you should also check the withdrawal procedure. Are you able to withdraw your earnings more than once per week? Are there any minimum or maximum amounts that you can withdraw?
- Reliable online casinos don’t charge hidden fees
- Look for online casinos with high maximum withdrawal amounts
- Select online casinos with a good background
10. Don’t Stick to One Casino Site
If you want to make money at casino, this doesn’t mean that you have to stick to one casino site. Online casinos are not like land-based casinos and you can switch to another casino in a matter of seconds. The best casino players out there are members of two or more casino sites.
The truth is that many casino sites in the last few years have developed decent loyalty schemes with competitive points that make their use more attractive. However, this doesn’t mean that you should not join other casino sites. If you have an interest in a specific game, try to find an online casino that has special offers and deals focused on that casino game. Almost all the casinos have temporary bonus offers and using them can bring you a lot of benefits.
We should also mention that many online casinos have special offers for regular players that have stopped visiting their site regularly. They will try to keep your on their website by providing special deals.
- Shop around and don’t stay in just one online casino
- Look for special deals and offers
- Use both welcome and loyalty bonuses
11. Choose Games with Smaller Jackpots
There are many casino games like slot games, roulette, and keno where you can find amazing jackpots. In some cases, these jackpots are worth hundreds of thousands of dollars. But, if you are interested in finding a way to win a jackpot like this, you will realize that you will realize that the odds of winning are extremely low. But, it doesn’t have to be like that.
When a player chooses a game with a smaller jackpot, the chances of winning are higher. This is a low variance jackpot game which is awarded more frequently. Of course, you can still place very small bets on games with impressive jackpot (progressive jackpot) prizes, but don’t hope too much.
- Play safe for big progressive jackpots
- Choose small jackpots over big ones
- Calculate the winning odds
12. Stop Playing when you have a Problem
Finally, there are times when people are noticing that they have problems when it comes to gambling. They are becoming compulsive gamblers that are desperately trying to win high amounts of money. The easiest way to spot this trend is to analyze yourself.
Do you play casino games on a daily basis for more than a few hours? Do you feel dissatisfied when you are playing? If the answers to these questions are affirmative, then maybe it’s time to stop and look for help.
It’s always a smart move to read books and literature focused on problem gambling if you are planning on making money from this interesting activity. Learning more about this behavior can save you a lot of money, time and energy.
- Stop if you have noticed the first signs of problem gambling
- Read literature that can help you in situations like this
- Consult an expert in this field and look for help
How To Make Money From Casino Bonuses
Gambling is taking a risk of losing something of value on an unpredictable outcome. When you gamble at either an online or land based casino both you and the casino take a risk in losing something of value. The risk is greater for you because the casino only offers games that provide a statistical advantage to the casino.
However, much statutory and some case law has been devoted to ensuring that casinos and players don’t cheat each other by subtly altering the conditions of gambling games without each other’s knowledge and permission. You can, though, change the terms of the game. The casino often provides a way for you to do this.
But should you take the offer?
There are two things you need to understand before you can start improving your chances of winning when you gamble. First, you can change the outcome of a gambling game. Second, you will almost always confuse yourself if you try to do the math. These two most common of gambling mistakes help the casinos earn tens of billions of dollars every year.
How You Change the Outcome in a Gambling Game
Many casino gambling games allow and even encourage players to change the stakes, the odds, and even the percentage chances of winning. Here are a few examples of how you can change the outcome of a gambling game (almost always for the worst).
Say you are playing a slot machine game and you win a prize on a spin. A special “Gamble” button lights up. You are now prompted to play a secondary game, maybe betting on the outcome of a virtual coin toss, using the prize you just won as the stake in your new bet. This is an exciting feature. It also means you are risking the loss of what you just won on a game with a better “edge” for the casino.
Most slot games have a theoretical return to player above 75%. Games developed after 2010 usually have better than a 90% theoretical return. The RTP is an estimate of how much money would be retained by a hypothetical player who spun the reels continually for a period of several years. It’s not a realistic estimate of how much money you will win, lose, or hold on to. It’s a statistical measurement used to gauge how friendly the game is to the gambler.
In a coin toss the theoretical return to player is 50% or 1 in 2. So let’s assume you just gambled $5 on a spin in the basic slot game and that you won $10. You have doubled your money. Now the “Gamble” light activates and you are invited to take your $10 and bet it on the outcome of a coin toss. And suppose the “Gamble” feature allows you to wager on the outcome of two concurrent coin tosses. Now you have a choice: bet on 1 coin toss for a chance to double your $10 to $20 or bet on 2 concurrent coin tosses for a chance to quadruple your money.
Your chances of winning the double concurrent coin toss are 25% or 1 in 4.
You would have a better chance to keep your $10 prize and just spin again on the basic game. By taking the “Gamble” challenge you improve the casino’s chances of winning your next bet. It’s like paying $5 for a quarter of pie at one restaurant and then paying another $10 for an eighth of a pie at a different restaurant. Are you really getting a better piece of pie at the second restaurant?
In the game of blackjack if the dealer offers you insurance most experts tell you not to take it. Why? Because you are betting that you will lose your basic wager. The chances of being correct (that the dealer has a blackjack) on your insurance bet are worse than the chances that you can beat the dealer’s hand (your original wager).
The bottom line here is that casinos will sometimes offer you ways to change your stakes and your chances of winning to their own benefit. If you want to win at gambling, don’t take the deal behind door number 2. Stick to your original game and be consistent. Let someone else win the goat.
How to Confuse Yourself at Any Gambling Game
There is a certain idea among gambling experts that comparing the “house edge” in various gambling games helps you to make informed choices. The edge is a theoretical return to the casino, the complementary percentage for the theoretical return to player. In other words, in every form of gambling, there is only a 100% allocation of money. Gambling does not generate new wealth; all gambling does is pool wealth between the bettors and redistribute that wealth between the bettors (and sometimes also a middle man).
In the 1-on-1 game of blackjack there are only 2 bettors in your game: you and the casino. The casino is willing to pay up to the full amount of your bet if you win. It’s an even money match up, and that is really what makes blackjack so profitable for a casino. They risk less per round than they do with, say, roulette or a slot game. But if you have been reading blackjack tutorials you should know by now that the house edge is lower in blackjack than in other games, and therefore you have the best chance of winning in blackjack.
In fact, the dealer has a better chance of coming out ahead because at a busy table the dealer is playing multiple hands at once by the most conservative of rules. In other words, the casino is taking less risk per round in blackjack than the players while at the same time multiplying its chances of winning.
Players make mistakes when playing blackjack. Blackjack dealers don’t have to make hard decisions. In fact, by always going last the dealer often doesn’t have to make any choices at all. The players make most of the decisions in blackjack. And yet blackjack remains profitable for the casinos. The casinos are profiting from player mistakes.
Players make several types of gambling mistakes. One of the most common mistakes is to confuse the probability of winning with the theoretical return to player. The probability of winning is limited to the next round of play. The theoretical return to player is an estimate of what all the players of a game will collectively receive over the life of a specific game (or an arbitrarily large number of rounds in the game).
The rule of thumb is that the more rounds played for a given game the more the actual results of that game will average out close to the theoretical return to player (or the house edge).
But what are the chances of your drawing a natural blackjack on the next deal? What are the chances that the dealer will not win against you on the next deal? These are probabilities that can be computed on the basis of how many cards are left in the shoe, less the cards that have already been played. Those probabilities change as more cards are played but they rarely if ever line up with the theoretical return to player.
The mistake players make is assuming that the house only has a 2.5% chance of winning the next round. The dealer’s chance of winning that next hand can be as high as 100% and as low as 0%. The house edge is always irrelevant with respect to any individual round played on any gambling game from keno to slots to blackjack to baccarat.
When you gamble, it’s nice to know how much money the house is expected to retain over the next 30 days but that won’t help you predict how much you win or lose in any of the next 10 rounds of play.
Expert gamblers like to calculate probabilities but probabilities do not predict the next round’s outcome. The roulette wheel always has a 1 in 37 or 1 in 38 chance of landing on any given number. The chance that the ball will land on number “7” 100 times in a row remains 1 in 37 or 1 in 38. That never changes (allowing for truly random spins, although the laws of physics mandate that the spins won’t be completely random).
On the other hand, what is the expected probability of a random spin of the roulette wheel producing “7” 100 times in a row? This is where you multiply your individual spin probability (1/3x) by itself the number of times in a row (100 in this case). The expected probability of the wheel hitting “7” 100 times in a row is 1.51296e-157 (a very, very small number). But that low probability has no bearing on the probability of the next spin.
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This is the dichotomy of probability theory, where you are dealing with large sequences of independent events. The expected probability does not mean you cannot or will not see the unlikely outcome. In this hypothetical example, we are simply computing how many possible outcomes there are and assuming the chances of producing the same result 100 times in a row are equivalent to a certain percentage of those possible outcomes.
Unfortunately (even semi-) random events have a way of defying the probabilities. But if someone offers you 100-to-1 odds that a roulette wheel will land on “7” 100 times in a row, verify their ability to pay and take the wager. They lose as soon as a different result turns up before the 100TH spin.
The bottom line here is simple: don’t try to do the math like an expert. Random chance will always eventually prove the experts wrong.
What You Must Do to Improve Your Chances of Winning
Here are a few basic rules for improving your chances of winning when you gamble.
- Stop second-guessing yourself.
Every casino game offers you a fair chance of winning. The games, when played fairly and legally, pay prizes that correspond to the expected probabilities of given outcomes, although casinos will hold back a little bit extra in most games to ensure they make some money. Hence, in roulette, the most you can win is 36-to-1 instead of 37-to-1 or 38-to-1.
The odds are always stacked against you. But random chance favors the fool, as the old saying goes. You just cannot guarantee you are the fool upon whom random chance showers its favors.
- Take the least possible risk.
In a hypothetical game where you win 100 rounds out of 100 rounds, you will kick yourself if you only wager $5 on each round for the chance to win $5 instead of wagering $100 on each round for the chance to win $10,000 on each round.
In reality, positive thinking doesn’t work when you gamble. The more you assume you could win the more you are likely to lose when you do lose.
Risking less does mean you win less per round but that’s okay.
- Manage your money so that you play as many rounds as possible.
You are more likely to win back $100 in wagers if you divide them into twenty $5 wagers than if you divide them into five $20 wagers.
Instead of playing numbers games (which is second guessing yourself) or assuming you will win a certain number of times (which is taking more than the least possible risk) you should assume you are going to lose more rounds than you win. When you play slots or even a modest keno game (like a 5-pick) you can still come out ahead when you play more rounds with small wagers than fewer rounds with large wagers.
But how does playing conservatively work in blackjack, when the average prize is an even money bet? If you lose only 49% of the rounds in blackjack you lose. Okay, smart guy, you know you need to double down a few times. Instead of playing numbers games and assuming you can lose X number of hands and double down on Y hands, just accept that once in a while you’ll have to double down to improve your chances in blackjack.
When should you double down? The experts agree that if the dealer is showing a 5 or 6 and you have an ace and anything less than a 7.
You don’t need to double a lot as long as you can double enough to come out ahead.
- Don’t try to win big.
That’s the real fun in gambling, though, isn’t it? You want to win the jackpot, hit the long odds, and outwit the dealer at every hand.
Going for the big win is the worst possible way to gamble. You may not be playing all-or-nothing but you are playing too much.
Still, you can adjust the amount of your wagers upward if you are doing well. Just keep them proportionate to your bankroll.
- Use a consistent percentage ceiling in your wager to bankroll ratio.
Although it is prudent to limit your initial wagers to 5% of your original bankroll, at some point you may double or triple your money. Does it make sense to continue playing by the original 5% measure?
Most gamblers will feel confident enough to increase their wagers. But while it’s usually good advice to ignore all betting systems when you gamble (because each has its flaws), you can set a limit of “5% of your current bankroll down to half”, meaning you gamble with $5 bets until you lose half the money you came in with.
If you double your money then you can double your wagers as long as you don’t go above 5%.
Five percent is not a magic number. You can set the percentage at 1%, 5%, 15%, or even 20%. You should be consistent about not going above your percentage. You still have the flexibility of making larger wagers if you roll up your money.
- Divide Your Bankroll At Certain Split Points.
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This technique works best in land-based casinos, especially when you can put your money into tickets that are easy to carry around. A split point is a multiple of your bankroll. Say you begin gambling with $200 and you roll that up to $400 at the craps table. Now take half your money and put $200 of it into a ticket.
You can continue playing craps with the remaining $200 or you can try another game. When you roll up your second $200 to $400 again you split the money into another ticket plus money to play with.
After you have 3 or 4 tickets you can rotate them. Never play a ticket all the way down. Leave at least a few dollars on it so you can leave the casino with some money (and a little dignity).
When you gamble online it makes some sense to shift money from the game balance back to your main account. As long as you have money in your game account you should be good. It helps you to stay focused on conservative betting if you take money out of the game when you get ahead of your original bankroll.
- Play with Casino Bonus Money Whenever Possible
Land-based casinos may not offer you signup bonuses but many online casinos do. Play conservatively with the casino bonus money to increase your chances of fulfilling your wagering requirement with just the bonus money. While that won’t always happen the longer you can delay putting your own money into the game the better the chances you’ll start winning.
You can try this strategy with the “no deposit” welcome bonuses some casinos offer but they do limit how much credit they extend to you. You have more bonus money to work with when you accept a deposit match bonus.
- Stick to the Basic Game.
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Whether you play slots, craps, roulette, or blackjack the less complicated you make your game the less likely you’ll place dumb bets.
The casino is counting you to make dumb bets. You should count on the casino to be less than generous with its odds on the best most likely to pay off.
There are few progressive wagers that are worth the money. The more you throw into a round the harder it will be to recover from a loss.
In craps bet on Pass or Don’t Pass and play the odds but keep it simple.
In blackjack bide your time and don’t split every time you get a pair of cards of the same value. Should you really split two 5 cards when you’re showing 10 on the table? Should you split two tens? Two nines? You have three options: play the basic game, double down, or split. On some tables you may be able to surrender if you don’t like the dealer’s cards but look at the strength of your cards first and your options for splitting second.
- Assume the free games are more generous than the paid games.
When you have a chance to “try before you buy” at an online casino the free game just may be slightly more generous than the paid version. There are several reasons why this might happen. If you can check the theoretical return to player for a free game and the paid version, look for differences.
Does the free game run on a different server? The different server may be using a different random number generator, a different random seed number, or a different estimated percentage for the theoretical return to player. Variations in all these things can affect the randomness of the outcome of the game.
- Play low variance games.
Sad to say, but the less volatility there is in the prize to wager ratio of a game the more likely it will pay you prizes. Volatility is an important measure for a casino because it needs to know how much cash to keep on hand. But you need to know how long you may have to play a game before you win a nice prize. That is where the variance comes into play.
Think of variance as “how much any random outcome of a game varies from the average expected outcome”. There is a relationship between variance and volatility (in fact, some gambling writers use these terms interchangeably). The casino cares more about the volatility and the player cares more about the variance.
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How do you judge variance? It comes down to how long you can play the game with your initial bankroll. A low variance game has a tendency to take less of your money.
Hence, as noted above, you can affect the variance of the game in a limited way by playing conservatively and ignoring the extra bets the house offers.
Conclusion
Think of gambling as an endurance race between the bettors. Whoever can go more rounds wins the most money, unless random chance steps in and hands a big win to the individual gambler. Then gambling is more about who has the most self-discipline. The casino is playing a numbers game and just has to be there with enough cash on hand to keep the games going. The player has to have the wisdom and the self-discipline to walk away with the cash.
Harvard Medical School published a trove of data about online gamblers that was collected from 2005 to 2007 by an online casino (Bwin). Researchers who studied the data concluded that about 11% of gamblers were likely to win and that winners were more likely to play less frequently. Subsequently, researchers from the University of Michigan and the University of Connecticut compared that analysis to their own analysis of data from a Native American casino’s database. The second study found that about 13.5% of the land-based gamblers were winners.
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The good news for most gamblers is that fewer than 5% of them contribute about 50% of the casino’s net revenue, and about 10% contribute 80% of the casino’s revenue, so most gamblers are not big losers. That means approximately 80% of gamblers share the burden of about 20% of the casino’s net revenue between themselves. Given that most people cannot lose enough money (for lack of wealth) to drop into the lower 10% (the Big Losers) changing how one gambles increases an individual’s chances of moving into the upper 10%.
Gamblers with little wealth to lose should still learn to make better choices. You cannot guarantee you will win but you can always cut your losses short or take fewer risks. Gambling is more fun when it is just entertainment. If your losses amount to no more than what you would spend on other types of entertainment such as concerts and travel, then have fun.
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