People today look to make money from all sorts of different recreational and/or passive means online. This can mean taking surveys, trying new cryptocurrency arcades, or even just engaging with certain free apps that offer potential payouts. Before any of these methods ever became popular though, there was online casino gaming — one of the first recreational activities through which people looked to profit online.
So, is this in fact a way to make money? More often than not, the answer is no. Casinos are designed to entertain, but they also “win” more than their customers. With that said, it is important for those who try to earn winnings from online casinos to prioritise a few practices.
Find the Right Games
The simplest and most important thing to know about casino gaming is that different games offer players different odds of winning. There’s a helpful write-up on the matter on Medium that (rightly) classifies craps, blackjack, baccarat, and roulette as the games with the best odds. It also notes that slots are sometimes structured such that they return some 97% of buy-ins to players — though this doesn’t necessarily mean odds of winning any given spin are particularly good.
This does not mean that focusing on these games means you’ll win money. Again, casinos are designed such that they win more often than not. Finding the right games that appeal to you and offer more favourable odds than others, however, is the first step toward potentially earning winnings.
If you’re playing online casino games to win, it’s also important to take steps to mitigate risk. In large part, this is something you do on your own — by limiting your budget, cutting losses at a predetermined point, knowing when to take winnings and stop playing, and so on. In some cases though, online casino platforms also have measures and tools in place designed to help players avoid unnecessary risk. Gala Casino is leading the charge in this respect with its “Maximise your fun, minimise your risk” initiative — a program that actually gives gamers access to tools such as curfews, deposit limits, and similar protections.
Taking advantage of this kind of built-in risk mitigation won’t guarantee winnings, but it will make significant net losses less likely.
Think Long Term
If “think long term” sounds like familiar advice, it’s probably because it’s a common refrain with regard to investment and personal savings. Indeed, even amidst worldwide market crashes in 2020, advice to investors was to stay the course and “think long term.” To be as clear as possible, online casino gaming is nothing like investing or saving. In this case though, the underlying principle of focusing on the long term applies to both.
In casino gaming, a long-term focus means understanding that there will be losses along the way, and that “winnings” don’t mean hoping to hit a lucky jackpot. It’s about playing strategically enough over time for a heap of small- to medium-sized wins to offset losses.
Even with all of this taken into account, it’s less than likely for any individual gamer to make meaningful money in online casinos. These platforms simply aren’t designed for that purpose. Nevertheless, it is possible to take away some winnings — and marginally more likely when the strategies above are taken into account.
Thank you for reading, and please feel free to explore more of our content about making and saving money here at I Beat Debt.