Nov 01, 2016 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. Jun 06, 2017 As hard as it is to get rich in a casino, it’s not impossible. To begin, play the oldest and most complicated game on the floor: craps. Depending on the number). If the 7 is rolled, you lose. But if the shooter rolls the point number, you make even money for your bet. It's not most exciting. The Best Way to Open Wine Without a. May 31, 2016 How I make money playing slot machines DON'T GO HOME BROKE from the casino how to win on slots Neily 777. This is my strategy for leaving the casino with some money. Sometimes you'll be.
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 if you have never done it before I strongly urge you to stop reading now and head over to my matched betting guide.
That is for two reasons.
Matched betting is easier and is completely risk-free.
Most websites that have both a casino and a bookie make you take the bookie’s bonus first. If you try and sign up and take the casino bonus you could forfeit that easy profit from the bookie.
If you’re still here, let’s talk about point 1. That’s right, unlike matched betting casino bonuses are not risk-free. But that doesn’t mean that they can’t be profitable and worth doing.
To show you what I mean, let’s first talk about how casinos make money.
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.
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.
I have a 50% chance of winning £1 and a 50% chance of losing £1.1.
That means that 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 basically means the average profit from all possible outcomes.
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
Please take a second to make sure that you fully understand why that is. If you can get your head round it then everything else should quickly fall into place.
Now let’s turn that expected loss into a percentage of the amount we staked. That number becomes what is called the house edge.
£0.05 /£1 = 0.05
So the house edge is 5% (0.05 means the same thing as 5%).
That means that in the long term I expect to lose 5% of whatever I bet. If we play 1,000 flips, I will have bet £1,000 and expect to lose £50 (5% of £1,000).
There’s that word expect again. It doesn’t mean I will definitely lose £50 (in fact I may be lucky and make money), but it means that on average I will lose £50.
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, 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.
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
Once again we turn it into a percentage of the amount we stake to get the house edge.
£0.028 /£1 = 0.028
So the house edge is 2.8%. If you remember that means that over 1,000 spins at £1 a spin we expect to lose £28.
If you had the choice to play either the coin toss game or roulette, you would choose roulette as it has a lower house edge.
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 0.5%.
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.
£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.
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 don’t need to go into the maths, but in case you’re interested 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.
How doing the bonus works in practice
Great, we’re doing well. That’s the basic concept and theory done, let’s talk about the practicalities.
If you have followed my advice and already been matched betting, then you will already have an account at William Hill and taken advantage of their sports bonus. In the sports book offer terms is this line:
This offer is only available to new William Hill customers who open an account using a valid promo code
There is no such requirement in the casino bonuses terms and conditions. So do the sports bonus first!
Once we head over to the live casino. Deposit our £25 and open up the game we realise something that could scupper our plans. The minimum bet on blackjack is £3. While this doesn’t affect our expected profit from turning over £200, it does change the variance or, in other words, it means there will be a much larger swing on how much we expect to make
While this doesn’t affect our expected profit from turning over £200, it does change the variance. Or, in other words, it means there will be a much larger swing on how much we expect to make from the offer.
At the £1 bet size, we had a 95% chance of our profit ending in the range £7.75 to £40.25.
But with a bet size is £3, that range grows to -£2.38 and £50.61. Let me reiterate that the expected profit is still the same, it’s is just the range that if difficult. If you’re happy taking that slightly higher risk, then
If you’re happy taking that slightly higher risk, then The Wizard of Odds has a good strategy table to teach you blackjack. Just follow the instructions to play perfect strategy.
But if that range is too rich for your blood, we could take on a different game. Remember roulette? It has a higher house edge, meaning that we can expect to make less money. But it does allow £1 bets. If we take a look at the terms and conditions again, play on roulette is allowed, but we are not allowed to place bets that cover the board. So we cannot place bets on both red
If we take a look at the terms and conditions again, play on roulette is allowed, but we are not allowed to place bets on certain combinations that cover most of the board. So we cannot place bets on both red and black. If we could then we would be able to lock in a profit. But that’s OK, we can still bet on just red.
At a house edge of 2.8%, over the £200 staked we expect to lose £5.6. We have a 95% chance of making between £5.6 to £33.54. That’s a much tighter range than betting £3 a go on blackjack.
Ok. We’re ready to do the bonus for real. Let’s see the steps once again.
Go to the Live Casino section on William Hill website.
Check the terms and conditions of the bonus. Make sure they haven’t changed.
Make sure you have £0 in your account and then deposit a fresh £25.
Open the Live Roulette game.
Place £1 on either red or black and spin. Repeat 200 times.
Monitor your number of bets on a piece of paper so that you know when you reach the £200 total bet point.
Once you have made 200 £1 bets, then go to live chat and ask for your bonus.
Voila! Once the casino bonus is credited you can withdraw it and your balance. Easy money.
After all that explaining, the actual steps were very simple. But we had to go into the details because it will enable you to look at more advanced offers and take advantage of them as well. Now you understand what ‘expected profit’ means you should be able to look at the terms and conditions of other casino bonuses and work out if there is any ‘expected profit’ to be made.
Which brings us on to the hardest part of making money from casino bonuses.
How to Find Good 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. You can do this in exactly the same way as you would when sports matched betting:
Look through casino terms and conditions manually.
Now before we talk about the merits and disadvantages of each one, a word of warning.
We have only scraped the surface of how to take advantage of casino offers.
There are hundreds of offers out there and they all have their little intricacies and quirks. Be very careful, especially when you first start. Until you get some more experience it can be very easy to miss something when reading the terms and conditions and coming up with a strategy. And what type of casino matters a lot too, live casinos and flash casinos often have very different styles of bonuses.
For that reason, I strongly suggest either: paying for a service that provides tutorials for the first 10 or so offers you do, or getting involved in a forum and asking them to help hand hold you.
My two favourite paid for services for casino bonuses are:
Profit Accumulator. £22.99 a month.
Oddsmonkey, £15 a month.
Profit Accumulator is the oldest, most popular and most expensive service. They have the widest range of opening account offers. Oddsmonkey is a close contender and slightly cheaper. They stand out for me because of their great calendar of daily offers which includes both sports and casino bonuses. As well as having a large catalogue of standard casino offers.
I’m going to stop now before I go into too much detail. By now you should understand the concept of expected profit and therefore making money from casino bonuses. You have a step-by-step guide to tackle your first bonus and you have plenty of resources to help you research and find new offers.
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?? No deposit bonus codes cool cat casino.
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 [email protected] and I will do my best to get back to you.
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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.
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.
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.
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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.
Online texas holdem cash games. Jul 11, 2011 For someone who's up to speed on the basics of good cash-game strategy, it's also the main source of their poker profit. From Vegas to Atlantic City and everywhere in between, the average live $1/$2 No-Limit Cash Game table features a motley crew of fish waiting to give their money away. Here are some strategy tips for no limit Texas holdem cash games. Limit games have a set betting limit so you can only win or lose a set amount on any given hand. No limit tables have rules that make it possible to win or lose an amount equal to your entire stack at the beginning of the hand. With this in mind, here are what I think my top five lessons would be for a new player trying to beat the $2-$5 no-limit hold’em games in Las Vegas. Don’t limp into pots ever. Jul 26, 2019 No-Limit Texas Holdem Cash Game Strategy. No-Limit Texas Holdem Cash Game Strategy. Hold’em tournaments draw a lot of attention but the true test of a poker player’s mettle is at the cash-game tables. Get a handle on the essential basics of great Hold’em cash-game strategy with our. So what follows is my pro's guide to 1/2 no limit cash game strategy to get you crushing the tourists and stacking those chips next time you play live! Good 1/2 Live Cash Game Win Rate Before I begin with the 1/2 live cash game strategy though let's talk about what sort.
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
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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.
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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.
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Stop if you have noticed the first signs of problem gambling
Read literature that can help you in situations like this