How to Make Money Gambling: A Guide on the Different Ways
Everyone knows how the old saying goes: “you work hard to play hard”.
That saying can be translated to this “you work to make enough money to pay for the hobbies you enjoy”.
One such hobby is gambling, which can be just as rewarding as it is entertaining to those that play it. Many people play it in hopes to win big, but few people actually get that chance.
Fortunately, there are several ways that you can go about making money.
Here’s how to make money gambling and get yourself more money than what you started playing with that night.
1. Set Your Bankroll
If you want to pay out as the professional casino players do, then you’ll have to plan and strategize like them as well.
You’ll want to set a bankroll for yourself before setting foot on the casino floors or logging on to an online casino game.
To do so, set aside some money that you’re going to be using for your gambling each night. Only use an amount that you’re comfortable losing. In other words, if you lost all your money for the night, how much would you be comfortable losing?
Whatever that amount looks like for you, set it aside. That’s your bankroll for the night.
This way, if you hit a really bad streak and lose everything, then the worst-case scenario for you is to have $0 left in your bankroll. It also stops the temptation of digging into your personal budget after a big loss.
Simply put, if you lose all the money that’s in your bankroll for that night, then you’re finished for the evening.
2. Know the House Edge
Everyone, even someone that’s never gambled in their life, knows that casinos and online casinos have the edge over every player in most games they offer. That’s how they can guarantee they make more money than they give out.
However, what most people don’t realize is that the advantage or the edge that the house has varies game by game.
For that reason, you’ll want to make sure and use your money on the games in which the house has the lowest edge. Your chances of winning greatly increase with this step alone.
Some of the most well-known games with a low house edge are Poker, Baccarat, and Blackjack.
Be sure to have some experience behind you in whatever game you choose to play. The lowered house edge means nothing to a player with little playing experience.
Regardless of what game you decide to play, do some research on the house edge and return to player (RTP) before playing. The Book of Dead Slots, for instance, has a player-friendly RTP of 96-percent!
3. Keep Your Eyes Peeled for Casino Bonuses
The more chances that you have to play, the higher your chances are of winning and making money.
However, the money in your bankroll will only get you so many plays, bets, or spins.
That’s why it’s important to keep a lookout for online casino bonuses that can get you twice as many spins for the same amount.
Essentially, casinos repay you for spending a certain amount of money upfront by giving you casino bonuses. The rate usually comes out to one bonus dollar for every real dollar you pay, sometimes more.
Not only do you have a higher chance of winning, but you’ll get to enjoy more playing time with the same amount of cash that you would’ve spent anyways.
These casino bonuses can also be a great way to plan for your bankroll.
For example, perhaps you were considering setting aside $175 for your bankroll, but then you came across a casino bonus that offers 150% more plays for $200 upfront.
In that example, you can justify adding $25 more to your bankroll in order to gain 1.5 times more plays than if you only spent $175.
4. Don’t Aim for the Big Win
While this may seem counterintuitive to gaining as much profit from gambling as possible, it’s a great way to keep perspective.
The key to your overall gambling success is knowing when to walk away. Think in terms of how much you’ve won vs. how much you came in with. Don’t get greedy as that will more than likely backfire.
There will always be certain factors of any game you play that are out of your control. It is better to gain a little profit piece-by-piece than try to win it all and clean yourself out.
5. Mind Your Bets
Both brick and mortar casinos and online casinos thrive from players falling to their pride and placing dumb bets.
Dumb bets in which you’re far more likely to lose money than you are to gain them.
Stick to the basics for any and all casino games that you play. Don’t overwhelm yourself (or confuse yourself) by playing games or versions of games that you don’t fully understand the rules of.
For example, when you’re playing craps just stick to playing the odds and bet on pass or don’t pass bets. If a big payout comes your way in the process, fantastic. If not, you’re still more likely to end up with more money than you entered with.
How to Make Money Gambling: Prioritize Your Strategy
The most important thing on how to make money gambling is to install a strategy for yourself and stick to it at all costs.
After just a few nights of gambling with these strategies in place, you’ll start to notice a steady rise in winnings that you’ve never seen before.
Be sure to read our other articles that pertain to both this topic and other topics just like it.