Back in the day, conventional wisdom stated that if you want to get out of debt, or avoid financial problems in the first place, the casino was the last place you should go. After all, these are places that are designed to make money, and it stands to reason that the average player will walk out at the end of the evening with less money than he went in with. If it was any different, the establishment would go out of business within a week.
To an extent, this is true – a casino needs to make money, the same as any other business, and the “house edge” is all about the difference between the odds of you winning and the amount you will gain if you do. To use a simple example, if you bet $1 on a coin toss, you’d expect to win $1 if you get it right. But the casino might pay just 95c. That amounts to a five percent house edge. The enormous growth of online gaming, however, has made things a little different. The house edge is still there, but play smart and you can come out a winner.
Take advantage of the buyer’s market
There are new sites appearing in the marketplace every day, and they all want your business. They will offer the best gaming experiences available, and will try every trick in the book to get you in through their virtual doors. This is something you can take serious advantage of, as the incentives will typically include free spins or no-deposit bonuses.
In other words, you get to play a game where you can win money, but you don’t have to put any down in the first place. Sounds too good to be true? The point here is that you have to reinvest any winnings a certain number of times before you can withdraw the cash. The casino is, of course, hoping you will get really into the game, blow the opening bonus and add some money of your own. Even if you do end up blowing it, though, free spins and no deposit bonuses are a great way of learning the ropes. Which brings us on to the next tip.
Know what you are doing
It sounds obvious, but it’s something you will see time and again in any form of speculation, whether it’s casino games, sports betting or even Forex trading. If you don’t know what you’re doing, the chances are, you’ll lose your shirt. Learn about the different games, whether it is one of the new slots that offers more skill-based play than the traditional one-armed bandits, or a classic card game like American Poker 2 or blackjack.
The latter, in particular, is a great place to start. It’s a game that everyone understands conceptually, but learning and implementing basic strategy can dramatically reduce that house edge and improve your win rate.
Choose your platform wisely
A land casino has overheads such as rent, staff costs, utilities and so on. When you play online, your virtual host for the night has far fewer such costs to consider. This means the online providers can afford to be a little more generous with the house edge. Some even operate at zero house edge, instead making their money through paid ads.
You can reduce your own overheads by being smart about your payment options. Sites that accept bitcoin, for example, typically charge either zero or very low commissions and admin fees. Given additional advantages of security and confidentiality, it is easy to see why this is a sector that has really taken to crypto, as it works out safer, cheaper and faster for all concerned.