With over 3,000 online casinos out there and more and more brick-and-mortar casino fans looking for digital avenues of entertainment, it’s so tempting to dip your toes into the uncharged – and potentially lucrative – waters of online casino games.
But it’s one thing to play for fun – which many sites like bet-at-home allow even without registration – and a totally different thing to make tangible money on casino games. Speaking of which, it goes without saying that one single piece won’t make you a professional gambler, but it can at least give you some insights into budgeting at online casinos.
Before we start, though, let’s give some credit to Anna Rosak, an inveterate gambler and a brilliant writer from KasynoHEX, who helped us put it all together.
#1 Pick a Licensed Casino
The first tip is not about budgeting, but it’s so vital that we can’t omit it. With myriads of online sites offering allegedly generous bonuses and the most favorable conditions, it’s easy to buy into those promises and then – after discovering they were nothing but promotional tricks – end up empty-pocketed and disappointed in the whole industry.
But there are two simple ways to avoid the frustration:
- Choose a licensed casino with years of experience. Not all licenses are equally reliable, but those issued by the UK Gambling Commission, the Malta Gaming Authority, the Kahnawake Gaming Commission, and the Government of Curacao are believed to be on top of the game. That said, even a license from a less reputable issuer would be much better than no license at all.
- Choose a Provably Fair casino. The onset of blockchain-based casinos gives you a chance to eliminate the possibility of fraud on a mathematical level, simply by choosing an online casino that utilized a blockchain. We won’t elaborate on how it works within this article, but let’s just mention that all provably fair casinos allow players to verify the outcomes of their games, an unprecedented opportunity for those concerned about the fairness of their casino.
Now that you have a few potential candidates on your radar, you can proceed to check the RTP of the games they offer.
#2 Check the RPT of the Games You’re Going to Play
Whenever the payout mechanics are concerned, the most important thing to know is that there’s no way to outplay the casino. No matter what the articles you’ve stumbled upon on the web and the ‘internet gambling gurus’ promise you, there’s no chance to stay in profit if you play long enough. Why? Because all games of chance are governed by the pseudo-random number generators that will always put you at disadvantage.
Take, for example, the most generous slot ever, Ugga Bugga by Playtech. It offers an unimaginably high RPT (return to player) of 99.07%, but this only means that on average, you are expected to lose 93 cents out of each $100 wagered on the game – which almost equalizes your chances with the casino, but still not enough to stay in profit in the long run.
Now, that doesn’t mean that you cannot hit a big win and just end playing, but it’s nevertheless crucial to understand that you’re always at disadvantage, and the longer you play against the casino, the greater the chance it will outplay you.
#3 Compete with Punters, not the Casino
If you want to make money at online casinos, the smartest way to go would be to play skill-based games (such as blackjack and poker – and especially the latter) against other punters. These games still rely on luck to some extent, but nowhere near as much as they rely on skill. In other words, the best player wins most of the time.
#4 Play for Free in the First Place
Not for nothing do online casinos allow you to play for free for as long as you want – they give you a chance to get the hang of the game that you’re going to play for money. So why not take full advantage of that? Learn your game to the fullest before wagering any real money on it.
#5 Start with the Smallest Bets and Manage Your Budget Wisely
Even if you feel like you’ve perfected the game in the ‘Free Play’ mode, don’t rush to play big. There’s a tremendous emotional difference between playing for free and real money, and you may not be ready for it. Start with the minimal bet and only increase it as your confidence grows. Many games allow bets as small as $0.01, so minimizing your risks shouldn’t be a problem.
- Allocate the budget for the day and don’t exceed it. Gambling is all about emotions: the better you control your emotions, the better you play.
- Avoid revenge gambling. Don’t try to make up for the previous losses by increasing the bet or playing extra games. Follow your strategy no matter what.
- Take advantage of casino bonuses. Some casinos do offer bonuses with no or few strings attached. Try to find those sites and get some free money to practice with in the first place.
Last but not least, make sure to watch your mental health. In case you’ve spotted symptoms of addiction in yourself or your close ones, immediately ask for help at international – BeGambleAware, Gamblers Anonymous, GamCare, etc. – or local problem gambling organizations.