Casino Forums: Easy Guide to Getting the Most Worth
By Space Coast Daily // October 15, 2020
Making money on online casinos https://casinosanalyzer.com/online-casinos is the ultimate goal of every passionate gambler, but the fascination of beating casinos at their own game is also a great obsession.
However, for many enthusiasts turning the habit into a career could be a considerable challenge.
Remember, every online casino comes with a welcome bonus to lure people into signing up and choosing to access their website over the competitors’ platforms.
With little knowledge and guidance, you can easily turn these casino bonuses into withdrawable cash and also convert online casino games into money-making gambling. If you are a beginner or a player with little experience looking to make money on casinos after days of lots of trials and error, here is an easy guide to ensure that you are getting the most worth.
How Casino Earn Money
Just like when playing a simple game of flipping the coin, people have fun, make money, and lose money. However, this is down to luck, but the most important thing to note is that there is a risk involved, and statistically, you have equal chances of winning and losing. For flipping the coin game, there are 50% chances of winning and losing in each throw.
Fortunately, casino players have an edge as there are some modifications to how the casino games are played, which favors the players. In casino games, you expect to lose 5 percent of what you stand to gain and lose on each coin toss. The word “expect” is used several times when it comes to making money from casino bonuses, and in the long-term, it means the average.
The number of bets is the house edge. For instance, if we make 1000 flips and for every $1 you bet, you expect to lose 5 percent, then you should expect to lose $50 (1000 x 5percent) if you bet $1000.
Casino Bonuses Vs. Unmatched Betting
Casino bonuses allow you to make money, but unlike matched betting, there is a risk involved. However, this does not mean that it is not worth doing and that it is not profitable.
The profit that you expect to make is referred to as the expected value. Using math, you can easily calculate the amount that you can make from the bonuses on average. Casino bonuses are not risk-free as the amount that you make comes with a variance. In the long term, the amount averages to the EV, even if each time you make a varying amount in each bet.
What Are the Hose Edges on Various Casino Games?
First, we look at the Roulette, a real casino game that resembles a coin flip game. Although the game comes with some variations to the coin flip game, Roulette is a casino game that almost every player understands.
The game has 36 numbers, excluding zero, with half of the 36 numbers red and the other half black. Once you spin the wheel, there is a 50% possibility that the ball will land on any of the numbers, including zero.
If you bet on black and the ball lands on any number in this particular category, you earn your stack back. Therefore, a bet of $1 will win a similar amount.
Since there are 18 red numbers out of 37 numbers, 18 out of 37 chances of the ball landing on a red color after every spin. Therefore, you have a 48.6% chance of winning a bet and 51.4% chance of losing one. Using math, you stand to lose:
(0.486 x $1) + (0.514 x -$1) = -$0.028
From the calculation above, you should expect to lose 2.8 percent in every $1 bet, which is the house edge for this particular game. This might seem quite low compared to other casino games, but it is good to mention that there are other casino games with a lower house edge than Roulette.
The other popular casino game that you might be interested in knowing the house edge is the Blackjack. Just like other casino games, the game comes with a number of rule sets, and the house edge is determined by the player’s expertise and the set of rules involved.
However, most blackjack games offer a house edge of about 0.5 percent per $1 bet. The house edge is equal to the one involved in playing a coin flip game, but with the following rules:
• If heads come up on your coin, you win $1 and also lose a similar amount
• If tails come up on your coin, you win $1.01 and lose a similar amount
Therefore, if you play 1000 hands of the game at $1 per bet, you would have won $1000 and expect to lose $5.
Types of Casino Bonuses
There are different types of casino bonuses, and each has a slightly different way for you to exploit. Since we have discussed the concept of expected value above, you should understand how to earn from casino bonuses.
How to Make Money from Casino Bonuses
In this case, we can look at how to make money from casino bonuses. Making money lots of money from online casino sound impossible, but considering what we have learnt from Blackjack and about house edges, it shouldn’t be far from reality.
The blackjack game comes with a house edge of 0.5%, which means that if you have over $200 staked, you expect to lose just $1. Therefore, you would expect to retain $24 of the bonus.
If you deposit $25 into an online casino and place 200 bets, each at $1, you will lose $1 and keep $24. Then a $25 bonus is added to your balance, which means you will withdraw $24 + $25 = $49. Therefore, you would make a profit of $24.
However, it is good to note that there is are risks involved as you can lose more than just $1 per bet, and you can also lose more money than what is offered as a bonus.
This means that if you lose all the whole amount given as a bonus, we will have to deposit more to complete the staking. The other thing that you need to note is that there is also the issue of the variance in every game. For instance, Blackjack provides a 0.5% house edge with a standard deviation of 1.15.
In conclusion, it is possible to make good money from online casinos, but it is more fun and less risky if you understand what you are getting into and what you need to do. We believe that this easy guide will help you get the most worth of the casino bonuses.