How to Make Money With Online Casinos
Much like its land-based counterpart, online casino gambling features negative EV value too (because of the house edge). What this means is that if you were to play on forever, you’d practically be guaranteed to lose some money. How much money you’d lose, depends on the size of the house edge. Does this mean it’s impossible to win in an online or a B&M casino? By no means.
The variance that comes with the betting doesn’t care about the house edge. Even though in the long-run the house is certain to pocket the 0.5-60% (depending on the game) revenue per bet, in the short-run, there are no guarantees that the player will not win big several times in a row. By exploiting the variance, it is indeed possible to win a whole fortune gambling online or offline, in an honest and trustworthy casino.
This brings us to our next point to ponder: in order to make sure you do indeed secure yourself the best odds, you need to play a 100% honest and trustworthy casino indeed. What does honesty mean in this context? It means that the casino games are fair, they do not push a bigger house-edge than the ones advertised, and in this respect, the casino undergoes regular audits by an independent authority. Make sure you check for the supervising organization because it basically guarantees you that the casino does not swindle you out of your money.
In the case of a casino, being trustworthy means that the casino pays out all withdrawals, it doesn’t stall its patrons when they want to cash out their winnings, and it doesn’t deduct all sorts of fictitious taxes. In a word: they don’t rob you of the money you’ve worked (or rather, played) for. Few things are more disappointing than getting lucky and then getting your spoils denied by a greedy casino operator.
The games that you play carry a huge importance too. Different games feature different house edges, and quite naturally, you should stick with the ones with the lowest possible house edge. Mind you that while the house edge is as small as 1-2% on slots, blackjack and video poker, it can be as high as 60% on bingo and keno. Be well-informed about the games you play. Different bets on the roulette carry different house edges, and there are two versions of roulette (American and European) out of which the European is the better one odds-wise for the player.
Also, different online casinos often feature different house edges on the same games. Another factor to consider when you’re playing online is the first deposit bonus. Every online casino features some sort of sign-up bonus, and if a player chooses these bonuses wisely he may just eliminate the effects of the house edge altogether. A sign-up bonus is usually a % match on the real money deposit the player makes. The bigger the percentage, the more bonus money you’ll get, but this is by far not the decisive factor when evaluating a bonus.
All bonuses need to be unlocked, even if some of them are remitted to the player’s real money account right away (in this case, the player will not be able to cash out until he fulfills the turn-over requirements). The turn-over requirements determine are what ultimately determines the overall value of a bonus. The fewer times one needs to turn the money around, the better the bonus. Be very careful in this respect: not all of the games offered by the casino are eligible for bonus redemption: those with the smallest house edge are usually not. Betting on red or black or odd or even on roulette, for instance, are such bets. Using these bets, players can turn around huge amounts of money in a relatively short period of time with minimal risks. The casino just can’t stand for that.
Take into consideration the loyalty program the casino or poker room runs (if it runs any). These loyalty schemes, such as casino comp points and poker rakeback, provide a permanent edge, and for that, they’re far superior to regular sign-up bonuses.