Online Gambling To Earn Money

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:

Best Way to Make Money at A Casino It is important to play a game that has the best odds to improve your chances of winning. When compared to other gambling games, casino games with the best odds are card games. When you play blackjack online, you can reduce the house edge to 1.24% advantage by using a basic strategy that works. Yes, you can win real money by playing casino games, but like other forms of gambling, there are a lot of risks of losing money. In addition to this, there is a so-called house edge installed in all online casino games that provide a statistical advantage to the casino operator. How to Make Money Gambling Online? Published by Kevin September 16, 2020 Categorie(s): Casino News. Every player wants to know if they can make money gambling online. The most common answer is yes; you can. However, only if you know what you are doing. There are plenty of professional gamblers that make money gambling for a living.

The popularity of online money gambling is easy to explain: availability and mobility. Not many lovers of Roulette have an opportunity to visit Las Vegas or Macao. However, everyone has a mobile device with Internet and can make money gambling from his house or office. Make Money Gambling Online Here. Slingo is a free to play, online money gaming site that gives you real cash. As it offers free membership across the glove so you can compete with people everywhere. Most tournaments are one hour long, costing approx. The player with the top score and the one with the best cumulative score wins the jackpot.

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 DAOBet (ex — 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!

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Almost every online casino has some sort of welcome bonus to help try and persuade you to sign up and use their website rather than their competitors. With a little bit of thought and cleverness, we can take these new-player casino bonuses and convert them into withdrawable cash.

But before we delve into casino bonuses, let’s talk about sportsbook bonuses. Making money from them is known as matched betting and is pretty easy and may be where you started off?

But right now because of the COVID-19 coronavirus most sports aren’t running so there aren’t that many matched betting offers available. But to try and keep customers casinos are offering better bonuses than normal. Now is a great time to try some casino bonus bagging – especially as we all need to make some more money!

Contents

Unlike Matched Betting, Casino Bonus Bagging Isn’t Risk Free

Unlike matched betting, making money from casino bonuses is not risk-free. But that doesn’t mean that they can’t be profitable and worth doing.

We call this notion EV (expected value). By using maths we can work out how much money we will make on average from the bonus. So why is that not risk-free? Because of variance. Each time we make a slightly different amount, but over the long term it averages to the EV.

If you understand what I mean then feel free to skip straight to the how casino bonuses work section.

Note: this can get quite complicated. If you want someone to explain it to you one-to-one then Oddsmonkey have an onboarding coach who will hold your hand when you sign up to their £17.99 a month service.

The Maths – How Casinos Make Money

Let’s say that we are playing a game of flip the coin, and because we’re fun people we’re also betting on it.

If we bet £1 a throw.

• I win £1 and you lose £1 if the coin comes up heads.
• You win £1 and I lose £1 if the coin comes up tails.

That is what we call a fair game.

There is risk – we could play 100 flips and I might lose money, or I might win money. But either way, it is just down to luck. Statistically, I am not more likely to win than to lose.

There is a 50% chance of me winning each throw, and a 50% chance of me losing each throw.

That is not what it is like in a casino. The casino has an edge.

Let’s change the rules slightly:

• I win £1 and you lose £1 if the coin comes up heads.
• You win £1.10 and I lose £1.10 if the coin comes up tails.

That is not a fair a game.

There is still risk – we could play 100 flips and I might make money. But I am more likely to lose.

On each coin toss I expect to lose 5p. We use this word “expect” a lot when it comes to making money from casino bonuses. It means the average in the long-term.

Here is a very simple tree showing you how we worked out that expected loss of 5p.

(0.5 x £1) + (0.5 x -£1.10) = -£0.05

Online Gambling To Earn Money At Home

That number becomes what is called the house edge. For every £1 we bet we expect to lose 5p.

If we play 1,000 flips, I will have bet £1,000 and expect to lose £50 (1,000 x 5p).

The More We Play The Closer To Expected We Get

Now we get a bit more complicated. The longer I play, the more likely I am to lose money.

I am not going to explain the maths here (email me if you want to know), but over 1 coin flip my chance of walking away with a profit is 50%. The coin can either come up heads or tails.

Over 100 coin flips my chance of making a profit has dropped to 31.7%, that’s almost a 1/3rd chance which still is quite high. I might decide that I’m feeling especially lucky and take that 1/3rd chance. But over 6,000 coin flips my chance of leaving with a profit drops only 1%.

That is how a casino makes money. If there are 60 people playing at your casino and each plays the coin flip game 100 times, then each person has a 31.7% chance of leaving with a profit. But as the casino is playing 6,000 total flips it only has a 1% chance of not making a profit overall. A pretty clever business model.

What Are The House Edges Of Different Casino Games?

Now you can’t actually play our coin flip game in a casino so let’s apply this concept to two real casino games.

Roulette. Is a very basic game which almost everyone understands.

There are 36 numbers not including the zero. Of those 36 – 18 are red and 18 are black. The number zero is not red or black. Each time the wheel spins there is an equal chance that the ball will land on any of the numbers 0 – 36.

If you bet on red and it comes up, you win your stake back. So a £1 bet would win £1.

There is an 18 out of 37 chance of a red colour coming up. That means that you have a 48.6% chance of winning, and a 51.4% chance of losing.

Let’s draw that same tree we did earlier but this time for roulette:

(0.486 x £1) + (0.514 x -£1) = -£0.028

For ever £1 bet we expect to lose 2.8p. That’s the house edge.

That’s pretty low. But roulette is not the casino game with the lowest house edge. That award goes to….

Blackjack. Forget card counting or anything you’ve seen in the films, your basic blackjack is the casino game with the smallest house edge.

There are many different rule sets for blackjack, and the house edge depends both on those rules and also on how close to perfect strategy the player is playing. But most games of blackjack have a house edge of about 0.5p per £1 bet (0.5%).

Let’s just think about that, 0.5%. That’s so low! It’s the equivalent of playing the coin flip game with the rules:

• I win £1 and you lose £1 if the coin comes up heads.
• You win £1.01 and I lose £1.01 if the coin comes up tails.

If we played 1,000 hands of blackjack at £1 a bet, we would have staked £1,000 and expect to lose just £5.

How Casino Bonuses Work

Thank you for sitting through all of that. Now that the basics are out the way let’s talk about the juicy stuff. How we can actually make some money from casino bonuses.

Just like with matched betting, most casinos offer new players an incentive to sign up and play at their casino.

Unfortunately, unlike with matched betting, there is no way we can hedge out our bets. But we can use this knowledge of the house edge to turn things in our favour. Provided the bonus is good, we can expect to make money.

Let’s take a look at one bonus that is currently offered by William Hill on their live casino.

To get the bonus, we need to deposit £25 and then place a series of bets that total at least £200. When we have reached that target and we contact customer service, a bonus of £25 will be added which we are then free to withdraw along with whatever is left of our initial deposit.

How We Make Money From Casino Bonuses

£200 sounds like a lot, but after what we’ve learnt about house edges and blackjack it shouldn’t sound so bad. Remember blackjack has a house edge of 0.5%.

Over £200 staked we expect to lose only £1. That means we expect to keep £24 of the bonus!

This is what we expect to happen.

• We deposit £25 into William Hill Live casino.
• We place 200 £1 bets. At the end, we have lost £1 and have £24 left.
• A £25 bonus is added to our balance.
• We withdraw our balance of £49 (£24+£25).
• We have made a profit of £24.

But, there is risk.

There is a chance we will lose more than just £1. There is even a chance of us losing more money than the bonus is worth. If we use up all of that £25 we would need to deposit more in order to finish the staking.

We won’t go into the maths on variance. But understand this. Blackjack has a house edge of 0.5% and a standard deviation of 1.15.

That means that at a £1 bet size there is a 95% chance we will make somewhere between £7.75 and £40.25. But it also means there is a 7% chance of making a small loss.

That is the essence of making money from casino bonuses. You are simply moving the odds to your favour.

Websites like Oddsmonkey and Profit Accumulator (more on them later) have calculators for working out your variance and house edge from different casino games. They also have strategy calculators to help you play the games optimally.

Whew. So after all that explaining, the actual steps were very simple.

But we had to go into all that details because it will enable you to look at more advanced offers and take advantage of them as well. Every casino bonus has different terms and you need to be able to work out what strategy to follow to get the highest ‘expected profit’ or ev from the bonus.

Which brings us on to the hardest part of making money from casino bonuses.

Where To Find The Best Casino Bonuses

You can only do that William Hill Live casino offer once, so to continue making money you need to find some more offers.

And the unfortunate truth is for more casino bonuses it is not profitable to make money from them. You need to find the diamonds in the rough.

You can do this in exactly the same way as you would when sports matched betting. And in fact, if you have done matched betting before you will probably already know the following two choices:

• Look through casino terms and conditions manually.

95% of people pay for a service. Compared to the EV you can make the services are cheap, they give you a curated list of offers to work through, and they point out any dangerous loopholes in the terms and conditions.

My two favourite paid for services for casino bonuses are:

• Profit Accumulator. Free for your first few bonuses, then £19.99 a month.
• Oddsmonkey. Free for your first few bonuses, £19.99 a month.

Online Gambling To Earn Money Online

Nowadays they are both pretty similar with largely the same offers but different communities, website feel and customer service. They each have free accounts you can try out so I suggest signing up to both and then choosing which one you like the most.

Note: this can get quite complicated. If you want someone to explain it to you one-to-one then Oddsmonkey have an onboarding coach who will hold your hand when you sign up to their £19.99 a month service.

There Are Lots Of Different Types Of Casino Bonuses

Wow what a beast of a post!

Let’s just finish on saying that there are lots of different types of casino bonuses and all have slightly different best ways to exploit them.

By now you should understand the concept of expectedvalue and therefore making money from casino bonuses. You have a guide to tackle your first bonus and you have plenty of resources to help you research and find new offers. Good luck!

USEFUL LINKS

• More details on casino wagering requirements.
• My summer betting diary where I made £250 a week throughout the summer holidays.

FAQ

What happens if I lose all of the £25 before completing the wagering requirement??

This is a very real risk and is also the reason why there is a chance of losing a small amount of money while completing the wagering requirement.

What you need to do is to deposit more money and finish the betting.

I hear people talking about ‘sticky’ bonuses or doubling up. What does that mean?

You should really join a forum and start asking people there. You are getting into some quite complicated areas with the potential to lose some large amounts of money if you make a mistake.

But in short: A sticky bonus is one that you can never withdraw. You can only withdraw the winnings. This means that the tactics we spoke about earlier don’t work. Doubling up is a technique to make money from them. You basically bet the whole bonus on red on roulette. If the bet wins you withdraw the winnings. If you lose you’ve lost the bonus which you couldn’t withdraw anyway.

What are the house odds of some other casino games?

• Baccarat – 1.06%
• 3-card Poker – 2.01%
• Craps – 0.34%
• French Roulette (you get 50% of your stake back if it lands on 0) – 1.35%
• American Roulette (two 0s) – 5.26%
• Slots – 3-10%. Average is about 5%.

Can I card count online blackjack?

No, you cannot. Card counting relies on the contents of the remaining cards changing as the rounds go on. In online blackjack the cards are shuffled every hand so the contents don’t change. You can do it with live blackjack – but I believe they shuffle regularly to make it more difficult. I have never tried.

I have a question that is not answered here?

Drop me an email at hello@sampriestley.com and I will do my best to get back to you.

Can you make money from casino bonuses while self-isolating or under quarantine?

Yes you can! It is actually a very good time to do it because you can do every step of the offer from your home.