Is It Possible to Gamble and Make Money?

🌏Online Casinos Australia 🦘 Blog 🦘 Is It Possible to Gamble and Make Money?

Both gambling and life are similar in one aspect — it is possible to win, but there is a significant deal of risk involved. The gambling industry is rapidly growing, online casinos have expanded, and players are more numerous than ever. 

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There’s no such thing as risk-free gambling. And it’s not only the players who risk their real money, but the same also goes for the casinos. The truth is that casinos always have the advantage because they are dictating the terms of the offers. Moreover, the odds are never in the players’ favour. It’s up to a player to understand how it all works and use the terms in their favour. And that’s what we are going to discuss now.


There are many strategies at your disposal which might help you raise your chances of winning. It is important that you watch out since casinos reserve the right to ban players according to their terms and conditions they’ve created. What we will discuss in the following article is entirely legal, and is mostly based on breaking down the most common mistakes on how successful gambling should work.

Common Mistakes 


  1. Confusing the RTP with winning odds


The RTP is the first and foremost thing you should understand before you start playing. RTP is short for ‘Return To Player,’ and it shows how much a game will return to players in the long run. The emphasis is on the long term. So, for example, if a slot has an RTP of 95%, it means that with a sample made out of thousands or even millions of spins, it will return 95% of all the money it took in. 


Try to understand that the RTP is a statistical number, and as such, it doesn’t predict the outcome of your next round. And it certainly doesn’t mean that if you insert $100, you will win $95. That’s not how it goes. Additionally, in the short run, anything can happen — You can either hit the jackpot or lose. However, there’s a high chance that you will fail, simply because there are always more losing combinations than winning ones.


  1. Accept the casino’s offer to change your stakes.


Winning is one of those rare moments when you’re the one with the advantage, not the casino. That’s why there are some games and casinos that offer winning players additional bets, which are an excellent chance to enlarge the original win additionally. Although these bets seem favourable, in reality, they always have a bigger house edge.


First of all, these offers invite a player to continue playing. Of course, it is only natural a casino will do such a thing as it is not in their best interest for you to stop playing and simply walk out of the casino with more money than you brought in. So, before you decide on your next course of action, remember that the odds are higher; meaning, if you go with it, you will start losing soon after you win. Likewise, you could get away with it and win, but the losing outcome is more probable.


Despite this, players often give in because these offers promise big wins. Here’s a simple example — If you wager $10 and win $20 on slot machines, the casino might offer you to double your money on a coin toss. This is actually a lousy offer because you risk losing everything, while they risk only $20 additional dollars.

Tips for the Winners


While the last two points were things you should avoid at the gambling table, let’s list several professional gamblers’ tips you should bear in mind while playing. They certainly won’t make you a millionaire immediately, but they will help you build your personal betting strategies. These will, with time, increase the amount of money you carry out of the casino.


  • Even when you are winning, the odds are always against you. Meaning, should you start winning right away, it is highly probable that you will start losing in the very next round. However, this is not something that should prevent you from playing. Knowing the reality doesn’t mean we should run away from it— It means we should face it and use it to our advantage. So accept the randomness, and keep playing.


  • Risk less and you will lose less. Professional players do not rely entirely on luck. They know that it is better to win small than lose big. This means you should always put smaller wagers, and stay in the game as long as possible. Make sure you take your budget into consideration first.


  • Plan your budget and bet more often. It is more likely that you will win back $50 if you play ten times with $5 than if you only bet two times with $25.


  • Don’t chase big wins. This sounds counter-intuitive — why am I in the casino if not to make some money?! It is true, everyone goes to the casino to win money. But unless you know when to stop, you are well on the road to addiction. Learn to stop, and accept losing as an essential part of the game.


Here Are Some Additional Tips


  • Use bonuses. They are much more abundant if you are gambling online since most of the online casinos offer welcome bonuses. They allow you to make free bets and practically play risk-free during these free rounds. But since casinos give you the extra money, they also put some conditions you must fulfil to withdraw your winnings. These conditions are given in the form of wagering requirements. This will determine the number of times you need to play through your bonus before you become eligible to cash it.


  • Find low variance games. A game’s variance is the time period you need to play to get any win. Low variance games will seldom give you wins, but they will also take less money. Put simply, the variance is the level of risk for the player. 


  • Never leave with a zero. This is a matter of dignity. Losing money is part of the casino experience, but it still doesn’t mean you should lose everything. There’s something humiliating about it, and we tend to feel incapable and unworthy, or even angry. Remember that you are free to leave at any point. Gambling means fun and excitement, not despair.


  • Develop your betting strategy. The betting strategy comprises decisions on how much you are willing to spend for the day, when to raise or lower bets or when to stop. What you decide depends on you. This includes your bankroll, game, and the casino you are playing at. As you continue to get more experienced, this will change — but it is essential to stick to it once it is set. Why is discipline so important? Every player did something he later regretted due to the excitement we all feel during the game. So your strategy is actually your rationality helping you to avoid stupid decisions that might cost you a great deal of money.


  • Endure and enjoy! It takes time to win big. No one wins as soon as they step into a casino. Take your time — play, socialize, and enjoy the process of playing; not the winning itself. Gambling is a form of entertainment, so just like you pay to go to the movies or the theatre, you pay for gambling as well. 


Welcome to the World of Strategic Betting!


Congratulations! You have taken the first step towards becoming a professional gambler. The rest depends on experience and, of course, luck. If we had to sum up the professional gamblers’ tips in a couple of words, they would say the following — risk less, plan your budget wisely, and know when to stop. With this in mind, you will be able to relax, win more often, and profit from all the gambling excitement.


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