How does online casino make money
New casino sites to play real money
For the bottom line, the casino win is the net dollars retained by the casino after all bets are paid. This can be a negative amount - any time the players win more than the casino holds. The hold percentage is the relationship of the casino win to the drop. Casinos make a profit by offering games of chance where the average payouts are lower than the income produced by the overall wagers. Exactly how this is accomplished and the terms used in producing casino records and income are explained below.
How casinos make money: the handle, house edge & more
Casinos make a profit by offering games of chance where the average payouts are lower than the income produced by the overall wagers. Exactly how this is accomplished and the terms used in producing casino records and income are explained below.
The handle
Regardless of what type of casino gambling is offered, the most important term for any gaming operator is the handle. The handle is the total amount of money bet. At a game like craps, all of the bets made on a table contribute to the handle, whether the bets win or lose, are made with cash or chips and are paid even money for bets like the pass line or 30-1 for bets like two and 12.
Players often confuse the handle (total bets) with the drop. For a casino, the drop is the money (or credit) exchanged for chips. At a game like blackjack, the total drop is what is found in the metal drop box attached to the table that all bills and markers (credit slips) are dropped in to. On occasion, the term handle is used interchangeably with the term drop.
House edge
The statistical advantage that the casino has in each game, and each bet, is called the house edge. This theoretical advantage the casino holds over the player on any single bet is what makes the game gambling, for the outcome is unknown, and regardless of who holds the edge, either party may win at any one time.
For the bottom line, the casino win is the net dollars retained by the casino after all bets are paid. This can be a negative amount - any time the players win more than the casino holds. The hold percentage is the relationship of the casino win to the drop.
If a slot machine has $100 inserted into it during a day and pays out $80, the casino win is $20. However, the hold percentage is based on total bets. If it is a $1 per spin machine and the machine recorded 1000 spins, then $1000 was wagered. Winning a total of $20 means the hold percentage is just $20/$1000 or 2/100 which is 2-percent.
Explaining the hold percentage
The hold percentage is better explained on a roulette table with a zero and double zero - the typical american wheel. On this game, the casino has a house edge of 5.26 percent. However, at the end of a shift, the game is likely to win close to 20 percent of the drop. For every $100 in the drop box, the house will likely have a hold percentage of 20 percent. This is because a player is likely to make many bets, over and over, each time against a house edge of 5.26 percent. They win some, they lose some and eventually lose what they were willing to risk on this particular table.
Factors influencing casino handle
The most important influence on casino handle is what is referred to as "time on device." regardless of what is bet, if there are no players, there is no handle and no profit. Casinos maximize their income when they find ways to increase not just their house edge, but the average bet and the amount of time each gaming device (table spot or slot machine) is in action.
As a business model, the overall handle is a product of capacity of use, game speed, and average bet. This is why all players club comps are based on your average bet and the hours played, not on how much you win or lose!
A casino with 1000 slot machines is only successful if they are in constant use. However, the utilization of game space and betting minimums at table games can be deceiving. This is why it is rare to see a blackjack game with a low $2 or $5 minimum, even if players are wandering around wanting to play that amount while there are several $25 tables with no players.
This phenomenon is best explained by the math produced for expected win per hour at a blackjack table. With six players betting $2 per hand, a dealer can get out 375 hands to the players. The total wagers (excluding double downs and splits) will equal $750 and the house expects to win 2 percent, or $15. However, just a single player at a $25 table will produce $4125 in bets per hour where the house expects to win 2 percent and a total of $82.
Obviously, the $25 game will be dead at times, but that single player easily makes up the difference, and if all the tables have low limits and there are no seats available for the big better then the house is losing out.
So, some decisions at your local casino are made for player comfort to extend the amount of time played, and some decisions are made simply based on casino income, as with any business. The above example also probably illustrates pretty well why a $5 blackjack player can only expect to earn about 30-cents per hour in comp value from their play.
The casino expects the player to get 60 hands per hour, so their total bets per hour equal $120. Using the same 2 percent house edge, the casino will retain about $2.40 from their play. Giving back 30-cents equals a comp value of 12.5 percent, which is pretty good. Most casinos hold the line between 10 and 15 percent.
How to make real money with casino free spins
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How free spins work
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Online casino websites use free spins to get new players. You may be entitled to free spins by registering your account. However, if you win, depending on the casino you choose, you may not be allowed to withdraw the money immediately until you play with substantial deposits. Few online casinos allow you to withdraw your winnings no string attached.
How to win real money with free spins
If you want to play slots with free spins and win some real cash, then you will find this brief guide very useful.
The first step to winning real money with free spins is by finding a safe, reputable online casino. A lot of online casinos offer attractive online slots and free spins. Once you find a reputable casino that offers free spins, then you are in safe hands to play.
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Here’s how casinos make money
Some of the top online betting casinos like wetten.Com gives players an opportunity to bet with real money.
The online platform has an atmosphere that is just like a regular casino, and it is tailor made for the german market. German-speaking casino players are able to play their favourite casino games all in the comfort of their home through a smartphone or a computer. The website has games from well-known manufacturers such as net ent and ygdrasil. There are games for both professionals and amateurs. This includes slot machines, table games and card games. In addition to that, they offer great bonuses. However, the big question is how do these casinos make money? Let’s find out how.
The handle
The first way in which casinos make money is through the handle. Regardless of the game, the handle is the most important part of the gaming operator. The handle is the total amount that the players have put in bets. In table games, for example, craps, all the players put their bets in the handle, and the handle is made up of cash or chips. The money could go two ways; the player either wins the bet or loses it.
It is often easy to confuse the handle and the drop. The drop is any money or credit that has been traded for chips. Take an example of a game like blackjack, the metal drop box at the edge of the table is the drop. Players drop the bills and credit slips into this box. In some cases, the two terms, drop and handle, are used interchangeably.
Factors that influence the handle
Casinos get more income when they find a method of increasing their house edge, the amount of time on each game and the average bet. If there are no bets or if the players are few, then the handle is less and the profit is less.
Looking at the casino as a business model, the overall handle is obtained through a product of the average bet, time spent and capacity use. This explains why most casino games are based more on your average bet and the hours that you have played and less on how much you have won or lost. A casino with about 100 explodiac slot machines is only profitable if the machines are in use. This is where the capacity of use plays a huge role. The more the machines are used, the more money is obtained.
The average bet of most games is constant. A minimum amount is required in most table games. However, it is very rare to find a blackjack game that has a minimum bet of $2 or $5. Players may want to play, but the rules of the casino may indicate that the minimum of the game is $25. It is simple math; the casino expects to make a certain amount of money for each round of blackjack. The dealer is able to get up to 375 hands to the player. If all the six players bet at $2, the total wagers will be about $750. That is if you exclude the double down and the splits. On the other hand, if a single player bets at $25, then the table will produce $4,125 in just one hour. The game may be dead sometimes due to lack of players, but the single game makes a huge difference. Low limits reduce the chances of having wealthy customers, reducing the chances of the casino making money.
House edge
In each bet, the casino usually has a statistical advantage in which they can make more money. This is called the house edge. The theoretical advantage that the casino holds in a game is what makes the game a gamble. The outcome is unknown and either party has an equal chance of winning at any time. This means that if the player losses, the casino wins.
There are two sides to the house edge. The casino win is the total amount of money that the casino is left with after all the players have paid their bets. This can be a negative amount if the players win more than what the casino is holding, or it can also be a positive amount if the casino makes money. The hold percentage of the drop to the casino wins.
A slot machine may have $100 that has been inserted by the players. During the course of the day, it may only pay out $80. The casino, therefore, makes $20. The hold percentage is obtained from the total number of bets. Spinning the wheel may cost $1 per spin. During the day, the machine may record 1000 spins, and that’s a total of $1000. The players may win only $20, making the hold percentage $20/ $1,000, which is 2%.
A good example is a roulette table that has zero and double zero. The casino has a house edge of 5.26% in this game. At the end of the game, the casino is likely to win 20% of the drop money. This means that for every $100 that is inserted in the drop box, $20 goes to the casino. The player is likely to make several bets during the game for them being against the house edge. In the process, they win some or lose some. They eventually lose what they were willing to risk or gain a small percentage.
The system is comparable to bookmakers
Betting platforms like wetten.Com also calculate similarly to casinos. They calculate their earnings so that even if for example some users win a system bet, they all in all still make profit. The difference in casinos is that the slot-games are at least programmed in a way that more than 50% of players lose.
Comps
Comps are like a bonus that is given to players, and it may be given because they are new players or because they spend a lot of money on the site. The players who make large bets or spend a certain amount of time in a particular game may stand a chance to get a gift such as an airline ticket or ticket to shows or even a certain extra percentage of their total winnings. Comps are based on the amount of time that a player spends on a game and the number of stakes that the player has put in place. In order to get a chance to get a comp, the player needs to sign up for a slot club card. The card keeps track of the games played, the stakes and how long you play the games.
Comps are more advantageous to the casino than to the players. Spending more time in casino games means that the players stand a high chance of making more bets or rather, losing more bets. While placing high stakes increases the chance of the player losing their money, the overall money that is spent on the games is usually much more than the comp that the casino offers. For this reason, a player must set a limit when playing casinos.
Conclusion
Some of the decisions that are made at the local casino are aimed at increasing the income as a form of business while others are for extending the payer comfort. Every year, large amounts of money are exchanged through casinos. In 2005, the united states had a gross revenue of $31.85 billion from the commercial casinos and $22.62 billion from the native american casinos. The profits in the casino industry are much higher than any other business in the country.
How much money does an online casino make each month?
So you’re wondering how much money an online casino makes each month. The answer is going to vary from website to website, but I have some ideas about how we might calculate what an average internet casino makes each month. Some of this is wild speculation, but sometimes it’s fun to speculate.
Keep in mind that this is all speculation, as we are not an online casino ourselves, nor do we have any concrete information to know about these companies finances.
Feel free to continue reading and see the crazy amount of money that these online casinos have the ability to generate.
How much does it cost to run an internet casino?
Let’s start by calculating the costs of running an internet casino each month. The biggest expense most online casinos have is software related. Almost all gambling sites lease their software from one of the big 3 casino software providers:
- Playtech
- Microgaming
- Net entertainment
I’ve seen estimates that claim these 3 companies power 60% of all online casinos.
All of them have one thing in common:
All of these providers charge $11,000 or $12,000 a month to lease their software. They also get a 15% cut of the casinos’ winnings. That’s a pretty big expense right out of the gate.
But that’s not the only expense. Almost all online casinos run an affiliate program in order to drive business to their site.
A webmaster runs a gambling information portal or site. He signs up for a casino affiliate program. He advertises the casino in exchange for a commission on each player.
This commission usually takes 1 of 2 forms:
- A CPA (cost per acquisition)
- Revshare (revenue sharing)
A CPA is a flat amount that the casino pays the affiliate for each player who signs up and makes a deposit at the casino. This amount can range from $25 to $500, depending on how much volume a site is able to send a casino.
With a CPA arrangement, the casino risks paying more for the player than the player loses to the casino. But it’s okay, because over a large number of players, a casino has an idea of what the average player is going to lose. That amount is always more than the CPA.
I’ve heard from reliable sources that the average online casino gambler is worth at least $1000. That takes into account the low rollers who only deposit and lose $25, but it also takes into account the high rollers who deposit and lose $10,000 a month for months at a time.
The other arrangement is called revshare, or revenue sharing. In this arrangement, the casino pays the affiliate a percentage of the players’ losses for the lifetime of the player. This amount varies, but it hovers around 25%. Big affiliates can demand higher revshare percentages.
So if an affiliate refers a player who deposits and loses $10,000 a month, he gets $2500 in commission each month.
But affiliates on revshare also have to take into account the amount of money their referred players win. If that $10,000 a month high roller gets on a hot streak, he can wipe out the earnings from the other dozen or 100 players the affiliate has referred.
So far we have a flat fee of $12,000 a month going out the door. We’re also seeing 25% of the casino’s wins being paid out in commissions, and we have 15% royalties going to the software provider.
Casinos also have to pay for customer service and hosting. Let’s assume you can operate a world class customer service department using offshore labor and spending only $5000 a month.
Let’s also assume that a casino is using its own secure server. I don’t have a lot of experience with web hosting for sites with this kind of traffic or that sites that use so much bandwidth by hosting games, but I’m going to assume it’s expensive, but not too expensive. I’m going to call it $2500 a month. And if I’m way off on that estimate, let me know in the comments section.
So now we have almost $20,000 a month in fixed expenses, and we have 40% of player revenue accounted for on top of that. So just to break even, an online casino needs to earn enough money so that 60% of its earnings equate to $20,000 a month.
So we’re looking at a minimum casino win of at least $33,000 a month just to break even.
Let’s approach this from a different angle
The size of the online casino market is roughly $40 billion or $50 billion a year. That’s about $4 billion a month.
If we take the number of online casinos in operation, and divide that $4 billion by the number of online casinos in operation, we’ll have an estimate of how much an average online casino makes. The reality will be far different, but that’s a starting point, anyway.
The best known source of information for online casinos is casinocity, especially when it comes to managing a database of properties. When I look at their list of online casinos, I initially only get 205 properties, but my settings only allow me to see casinos which operate in english, accept players from the state of texas in the USA, and which accept US dollars.
When I change those preferences to “ANY” across the board, I get a list of over 3600 casinos.
Let’s assume that casinocity isn’t perfect and has left 400 casinos off their list. That means we have 4000 online casinos generating $4 billion in revenue per month.
$4 billion divided by 4000 is $1 million.
Does that mean every online casino makes $1 million per month gross?
I’m sure the pareto principle applies here as well as it does everywhere else.
The top 20% of online casinos probably make 80% of the profits.
So we probably have 800 online casinos generating the bulk of that money, while the other 3200 casinos make up a relatively small amount of that money.
Still, let’s assume that the $1 million a month is the number.
You knock 40% of that off the top to cover affiliate commissions and software. That leaves you with $600,000 a month in profit.
Subtract the other costs, and you still have well over half a million dollars in profit per month.
Conclusion
It’s impossible to provide an entirely accurate estimate of how much money an online casino makes each month. Suffice it to say that even with the high expenses involved in running such a business, the internet gambling sites offering casino games make plenty of money.
Of course, depending on where you live, the prospect of running an online casino might pose legal risks, especially if you don’t have strict limits on which countries you accept players from.
It still makes for an interesting set of numbers to analyze.
How much money does a casino make in a day?
For any business, maximising the potential sales made is the main goal, but this is taken a step further the moment you walk into a casino. Every detail on the casino floor, even down to the layout is specifically designed to entice customers to make their next spend, and is achieved through both data analysis and industry knowledge. But when you’re enticing customers to spend more and more money, it’s also equally possible to neglect other factors, making the vital balance a professional casino holds an art form. In this article, I will be discussing some of the techniques employed by casinos to keep their revenue up, and figuring out just how much they earn daily.
A relatively modern technique used in our beloved supermarkets is one of the leading decision makers in a casinos layout – data mining. Through analysis of customer movement, purchases and reviews, a casino can see what machines or services customers use frequently after each other. These services can then be placed near to each other, which would entice a customer further to use another service once they’re done, resulting in even more spending, and greater customer satisfaction, giving them everything they need to enjoy their time at the casino.
Subscription benefits are everywhere in modern day – from clubcards in a convenience store, to subscription loyalty benefits. In a casino environment, enticing and beneficial programs are usually present, which can give you access to exclusive events, and benefits whilst at the casino. These packages are sometimes referred to as VIP passes, where a customer can access exclusive games at the casino alongside these other benefits. On average, some casinos can make $630,000 per day, a significant amount of that being achieved from these key methods of enticing a customer, through tailoring services to their every needs and by introducing promotions.
Advertising success
When playing in a large casino, it’s easy to lose yourself in the sounds of whirring slot machines and the cheers of the next lucky winner, and advertising these successes is important for a casino. Flashing lights accompanied by a variety of noises can be used to draw your attention to the success people are having, enticing you into a game – if they can win, you can too.
There’s a number of parallels between shopping centers and casinos, and hiding the progression of time is yet another example. With a lack of windows, a player will over time become unaware of the time, and spend more time inside the casino through the enticing offers and games around him, completely immersing them into the casino experience. Alongside this, the lack of clocks around the casino, it’s very easy to lose track of time and continue a game past when they planned on leaving.
Unlike a land-based casino, online casino platforms can perform similar techniques using the appeal of offers as a user is about to leave the game – this is often done in online slots, where a free spin, or bonuses on specific win conditions may be applied after a certain amount of play time.
Chips, not cash
Separating the money you’re spending from actual cash to a chip or another form of currency in the casino is a strategy often used to get more cash – removing some of the value psychologically associated with actual cash, and also allowing them to host more offers revolving around their custom currency which allows a player to spend more without hindering the casinos earnings. This technique is also used in online casinos – when depositing money a site may use their own form of a ‘coin’ which has a similar effect in terms of abstracting from genuine cash. Offering sign up bonuses which gives you even more money to spend on their site after depositing, employing this tactic is beneficial for both the casino, being one of the major reasons an online casino can make so much in a day, and the customer as more time can be spent enjoying their games of choice.
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How casinos use math to make money when you play the slots
Even slots with physical reels use sophisticated software and circuitry.
Now that I’m the director of the center for gaming research at the university of nevada, las vegas, every now and then someone asks me, “which machine is the one that’s going to hit?” my usual response is the same, but I’m in a better position to explain how slots work, why people play them, and what you should know about them.
Slot machines remain the most important money-making part of casinos in the united states. In many states, casinos make between 65 and 80 percent of their gambling income from slots. In las vegas, the percentage varies from 88 percent in casinos that cater primarily to locals to 50 percent on the las vegas strip, where high rollers betting tens of thousands a dollar a hand skews the results in favor of table games. Every day, players put millions of dollars into slot machines. Why?
A modern slot machine is simple to play. Players insert currency, decide on their bet amount, press spin, and hope for the best. There are many varieties of slot machines in casinos today, from machines with physical spinning reels (industry folks call them “steppers”) to slots that replicated spinning reels on a video screen, but they all play essentially the same way. Video poker is a special variant of video slot in which players can use some skill in holding the most advantageous cards. All other slot machines, whatever their branding, are games of pure chance.
The chance aspect of slot machines is what makes them so appealing to so many people. If you know how to put cash into a slot and push a button, you have just as good a shot at winning a jackpot as someone who’s been playing for twenty years. In the end, it all comes down to luck. And who doesn’t feel lucky, sometimes?
Slot machines are deceptively simple to play, with four steps from "want to play" to "cashing out."
Slot machines appeal to casinos because they are, as long as enough people play them, stable money-makers. To explain why they are so reliable for casinos, I talked to bob ambrose, who broke into the industry at the tropicana atlantic city in the early 1980s and is today a gaming consultant and casino management instructor at fairleigh dickinson university. “it is all,” he says, “about the game math.”
When casinos look at how a slot machine is performing, the most basic number they look at is the drop. That is the money deposited by the player in the machines. Another number you might hear is handle, which ambrose defines as the total amount bet by a player. How can a player bet more money than she puts in? Well, if she puts in $100, wins a $50 jackpot, and keeps on playing until all her money is gone (including that $50 "win"), she has generated a drop of $100 and handle of $150.
What’s left after the machine pays out its jackpots is the casino win, also known as revenue.
So how do slot machines decide who wins and who loses? “payouts on slots are statistically calculated,” says ambrose. Pressing spin activates the random number generator, which is an algorithm that determines whether each spin is a win or a loss, and how big a win is. Each game, ambrose says, has a set hold percentage and a pay table that details how often and how much games will pay back.
Video poker games, which have elements of skill, often return more to players than other slot . [+] machines.
PHILIPPE LOPEZ/AFP/getty images
Games with low volatility, like video poker, pay back more frequently but in smaller amounts, while high volatility games, like the megabucks progressive, have fewer, bigger (think several million dollars at most) hits. So while the potential payoff from a high volatility game can be bigger, your money will usually buy you more time playing on a low volatility game.
Can a player get an edge on a slot which relies on pure chance? Not really. “there is a statistical advantage for the casinos,” ambrose says. “the math of the game ensures that casinos generate a consistent positive win for themselves.”
But the player can benefit from one thing: if slot machines never paid out anything, players would stop playing, and casinos would go out of business. Most jurisdictions mandate that slots return a set minimum amount to players (85 percent is the magic number in nevada, though most machines return more than that on average). It might not be much comfort when you’ve lost your last credit, but someone has to win a piece of that 85 percent, and next time it might be you.
And that is the appeal of slots, to casino manager and jackpot hunter alike. “for the player,” concludes ambrose, “there has to be a realistic chance to win. But in the long run, the edge will always fall in the casino’s favor.”
Something to remember, because no matter how lucky you feel, eventually the casino will get luckier.
Have fun playing slots, but remember, they don't build all this by giving money away.
Back when I worked security in an atlantic city casino, patrons would often ask me, “which slot machine is the one that’s going to hit?” my usual response was, “if I knew that, I wouldn’t be working here anymore,” followed by a knowing chuckle. Never failed to get at least a smile in return.
Even slots with physical reels use sophisticated software and circuitry.
Now that I’m the director of the center for gaming research at the university of nevada, las vegas, every now and then someone asks me, “which machine is the one that’s going to hit?” my usual response is the same, but I’m in a better position to explain how slots work, why people play them, and what you should know about them.
Slot machines remain the most important money-making part of casinos in the united states. In many states, casinos make between 65 and 80 percent of their gambling income from slots. In las vegas, the percentage varies from 88 percent in casinos that cater primarily to locals to 50 percent on the las vegas strip, where high rollers betting tens of thousands a dollar a hand skews the results in favor of table games. Every day, players put millions of dollars into slot machines. Why?
A modern slot machine is simple to play. Players insert currency, decide on their bet amount, press spin, and hope for the best. There are many varieties of slot machines in casinos today, from machines with physical spinning reels (industry folks call them “steppers”) to slots that replicated spinning reels on a video screen, but they all play essentially the same way. Video poker is a special variant of video slot in which players can use some skill in holding the most advantageous cards. All other slot machines, whatever their branding, are games of pure chance.
The chance aspect of slot machines is what makes them so appealing to so many people. If you know how to put cash into a slot and push a button, you have just as good a shot at winning a jackpot as someone who’s been playing for twenty years. In the end, it all comes down to luck. And who doesn’t feel lucky, sometimes?
Slot machines are deceptively simple to play, with four steps from "want to play" to "cashing out."
Slot machines appeal to casinos because they are, as long as enough people play them, stable money-makers. To explain why they are so reliable for casinos, I talked to bob ambrose, who broke into the industry at the tropicana atlantic city in the early 1980s and is today a gaming consultant and casino management instructor at fairleigh dickinson university. “it is all,” he says, “about the game math.”
When casinos look at how a slot machine is performing, the most basic number they look at is the drop. That is the money deposited by the player in the machines. Another number you might hear is handle, which ambrose defines as the total amount bet by a player. How can a player bet more money than she puts in? Well, if she puts in $100, wins a $50 jackpot, and keeps on playing until all her money is gone (including that $50 "win"), she has generated a drop of $100 and handle of $150.
What’s left after the machine pays out its jackpots is the casino win, also known as revenue.
So how do slot machines decide who wins and who loses? “payouts on slots are statistically calculated,” says ambrose. Pressing spin activates the random number generator, which is an algorithm that determines whether each spin is a win or a loss, and how big a win is. Each game, ambrose says, has a set hold percentage and a pay table that details how often and how much games will pay back.
Video poker games, which have elements of skill, often return more to players than other slot . [+] machines.
PHILIPPE LOPEZ/AFP/getty images
Games with low volatility, like video poker, pay back more frequently but in smaller amounts, while high volatility games, like the megabucks progressive, have fewer, bigger (think several million dollars at most) hits. So while the potential payoff from a high volatility game can be bigger, your money will usually buy you more time playing on a low volatility game.
Can a player get an edge on a slot which relies on pure chance? Not really. “there is a statistical advantage for the casinos,” ambrose says. “the math of the game ensures that casinos generate a consistent positive win for themselves.”
But the player can benefit from one thing: if slot machines never paid out anything, players would stop playing, and casinos would go out of business. Most jurisdictions mandate that slots return a set minimum amount to players (85 percent is the magic number in nevada, though most machines return more than that on average). It might not be much comfort when you’ve lost your last credit, but someone has to win a piece of that 85 percent, and next time it might be you.
And that is the appeal of slots, to casino manager and jackpot hunter alike. “for the player,” concludes ambrose, “there has to be a realistic chance to win. But in the long run, the edge will always fall in the casino’s favor.”
Something to remember, because no matter how lucky you feel, eventually the casino will get luckier.
Have fun playing slots, but remember, they don't build all this by giving money away.
How to make money by playing online casino games?
“las vegas”, the only buzz that comes in the mind, whenever there is a hustle bustle around the word “casino“. Although I have never traveled to that city nor america, but it’s a dream to see the gambling tables of vegas.
But with the development of technology and boost of the digitization, the vegas casinos can now be played just by sitting at home. You can place bets, gamble anything, and you will get the exact amount of what bricks and mortar casino offers or may be even higher.
We all want to make huge income, therefore I advise you to play online casinos for real income by following all the instructions that I have mentioned in a much simpler way. For the starters, you must have an adequate knowledge of the most popular and huge income generating online casino games: blackjack, roulette, poker, online slots and slot machines.
Instructions on how to make money with online casinos
Whenever I publish an article on any online money making strategy, I always start with the basics. Skipping the first 3 points and implementing only the key method will never help you to understand the flow, and you will lose and never think about it. The instruction mentioned below if implemented properly and sequentially can easily generate quality income. So read carefully…
#1 not a single online money can be made if you have a slower internet connection. And with online casinos, this follows strictly. Lots of graphics, animations, audio and videos are simultaneously working, and you will not want an interruption with the slow internet.
Gambling purely meant placing right bets at right time. It’s enough for you to imagine the importance!
#2 you may be multitasking, but playing online casino games requires some serious attention. Distractions like TV, music and even cell phones if avoided will help you to learn the game.
#3 most important- setup a fixed time and budget. It completely depends on you, but I strictly suggest that you must maintain a tight schedule of both money and time whether you are earning huge or losing enough.
For example: if you have invested 200$, then placing bets of 50$ twice in a week is a good call. It may be small, but it’s for the beginners.
#4 research and only research is the key medicine to make money online casinos. Different casino sites have different layout’s, design, payment option and games and therefore you must try at least 4-5 websites(as they are free to try).
Fraud and rogue casinos are in bulk amount on the internet. So before given your credit card details, you must check out the authentication of these. You can see the list of legitimate casino website here.
#5 don’t be an arabian sheikh while investing in playing online casino. You should start with slow(100$, as this is the minimum amount in most of the casinos) and if things work out, you can spend much more.
#6 read all the instruction and policies of the site(including payment procedure, threshold, time, their charges and anything that is written). It may take time(definitely it will) but will secure you and have a transparent image of the website.
#7 try out different games and see what is working best for you. In this way, you will enjoy and easily make money with online casino games.
2 ways to play online casino
Web based: in this user have to sign in on the website and can start playing. The only requirement is the browser that supports add-ons like macromedia flash, shockwave or java-like google chrome.
Software based: you can also download online casino software and then play with it. Compared to first one, this is the faster. Although, both of them requires an internet connection. You can choose according to your comfort.
Pros of online casinos
One of the highest earning source on internet
Requires much lesser time as compared to others
Do not require much technical knowledge, anyone can play
Cons of online casino
Be careful, casinos are always addictive, and most of the people are trapped in it.
Don’t choose online casinos as your only income or primary income source. You may even lose your house(OMG!!)
Get prepared for the risk as this is always included in this game.
Final words:
Although I have precisely mentioned the complete details to play online casinos for real money, still I would advise that you must gain some extra knowledge from other sources as well. It definitely requires luck, but practice is the only thing that’s on our hand and with which we will improve. Lots of scams have also comes up recently, so you must also be careful with it. The only site that I have mentioned above is a pure legitimate site and is well researched by me and is used by most. So you can try that. And for other sites, just get updated with our recent blog post as my next article will be on 5 best online casino sites
I hope you enjoyed reading it, and therefore must share this article with your friends on social media
How casinos work
The modern casino is like an indoor amusement park for adults, with the vast majority of the entertainment (and profits for the owner) coming from gambling. While musical shows, lighted fountains, shopping centers, lavish hotels and elaborate themes help draw in the guests, casinos would not exist without games of chance. Slot machines, blackjack, roulette, craps, keno, baccarat and more provide the billions of dollars in profits raked in by U.S. Casinos every year.
In this article we'll look at how casinos make their money, the history behind them, what the popular games are and how they are played, what you could expect when you visit one, how casino's stay safe and the dark side of the business.
Casino business
A casino is simply a public place where a variety of games of chance can be played, and where gambling is the primary activity engaged in by patrons. The typical casino adds a host of luxuries to help attract players, including restaurants, free drinks, stage shows and dramatic scenery, but there have certainly been less lavish places that house gambling activities. These would still technically be called casinos.
A truly enormous amount of money changes hands at casinos every year. While there are certainly big winners at the gaming tables every now and then, the only sure winner in a casino is the owner. In 2005, commercial casinos in the united states had gross revenues of $31.85 billion. Add to that the revenue of native american casinos, which brought in $22.62 billion in 2005, and it's safe to say that casino industry profits have been steadily increasing for more than a decade [source: american gaming].
Casinos make money because every game they offer has a built in statistical advantage for the casino. That edge can be very small (lower than two percent), but over time and the millions of bets placed by casino patrons, that edge earns the casino enough money to build elaborate hotels, fountains, giant pyramids, towers and replicas of famous landmarks. The casino advantage is known as the "vig" (short for vigorish) or the rake, depending on the game. The exact number can vary based on how the player plays the game and whether the casino has set different payouts for video poker or slot machines.
As of 2007, only two U.S. States do not have legal gambling: utah and hawaii [source: hawaii news]. Every other state either has state-sanctioned casinos or native american gaming.
A comp is a free good or service given by the casino to "good" players. Keep in mind that, from the casino's point of view, a good player is one who spends a lot of money. People who place large bets or spend hours at slot machines will often receive free hotel rooms, dinners, tickets to shows or even limo service and airline tickets if they are big enough spenders. Comps are based on the length of time the player spends at the casino and the stakes he or she is playing at. Ask a casino employee or someone at the information desk how to get your play rated. You may have to notify the dealer at the table you play at, or sign up for a "slot club" card that will automatically track your play at slot machines. That way, the casino will be aware of how much you're playing and betting. If you're rated high enough, you could get a comp. Casino experts point out that placing larger bets than you otherwise would, or staying in the casino longer in order to earn a comp is a sucker bet. The money you blow on the games is almost always far more than you would have spent simply buying whatever it is you want comped [source: renneisen].
Become A professional gambler: the seven ways to make money gambling
There is something that has always fascinated me about beating the casino at their own game and luckily I was able to turn that fascination into a career and make money gambling. I was a professional gambler for many years, making over a million pounds along the way. I started with matched betting and then moved to arbitrage, while dipping my toes into every other form of professional gambling.
In this post, I take you through seven different ways to make money gambling and talk about their pros and cons.
But before we start, if this is all new to you I really recommend starting with matched betting as it is the easiest and least risky. Here is my detailed how-to guide on matched betting.
Matched bettor
In short: keep as much money as possible from free bets.
Matched betting is the easiest way to become a professional gambler. It is where I started and over the years has made me a lot of money. And if done correctly it is risk-free.
Most online gambling sites offer promotions such as free bets to try and get you to sign up with them rather than their competitors. You can’t withdraw the free bet, but you can keep any winnings from it. If you are clever you can hedge your bets and whatever the outcome withdraw most of the free bet.
When you do this over all the different online bookmakers you can make a lot of money.
Resources to help you get good at matched betting
After that, you will want to sign up to one of the matched betting services like oddsmonkey. It is free to sign up and will work you through your first few matched betting offers. From there it is £17.99 a month and will provide a constantly updating list of what free bets are currently available. You simply work your way through the list.
Oddsmonkey has a few competitors which you can compare in my guide to the best matched betting subscription services.
Matched betting is probably the easiest way to become a professional gambler but does have an earnings cap. Once you have made £15,000-£20,000 you will need to move on to another way to make money gambling.
Value bettor
In short: know more about the sport than the bookies so you know when they get the odds wrong.
Value bettors are often world-leading experts in one particular team or sport. They know everything about it, more even than the oddsmakers at the bookies. They take all that information and make their own odds. If their odds are drastically different to what the bookmakers come up with, they will bet the difference.
The value bettor is probably the purest type of professional gambler. They are not using loopholes or bonuses, instead they make money gambling by beating the bookies at their own game.
Resources to help you get good at value betting
Warning, it is not an easy way to make money gambling! Once you have started creating odds I suggest paper betting (with fake money) to test out your edge before you start spending real money.
Once you are ready to use real money, you need somewhere to bet. Traditional bookmakers don’t like value bettors because value bettors make money. So most professional gamblers will instead use a marketplace based sports betting exchange such as betfair.
In a betting exchange, you are betting against other punters and betfair just takes a commission of the winnings. So no matter how much money you make they won’t close your account.
Arbitrager
In short: find differences between the odds at separate bookmakers and bet on all outcomes to lock in a profit.
Sports betting arbitrage is where I have made the most money as a professional gambler. It was even the subject of my university dissertation.
Very simply, imagine there is a tennis match going on. If one bookmaker believes player A is going to win and the other bookmaker believes that player B is going to win, then they will price their odds very differently. If the difference is big enough you can bet at both bookmakers on opposite players so whoever wins the match you will make money.
Resources to help you get good at arbitrage
Finding such arbitrage opportunities is actually the easy part. There is software you can rent such as oddsmonkey (£17.99 a month for beginners) or rebelbetting (€129 a month for professionals) which alerts you whenever there is an opportunity available and tells you exactly what the bet on.
The hard part is stopping your accounts from getting closed. Although arbitrage betting is completely legal, as soon as the bookmakers realise you are a professional gambler they will limit or close your account. Here is a guide a wrote how to make money arbing and avoid getting your account closed.
Sports trader
In short: using the same strategies that hedge funds and investment banks use to trade the stock market trade the betting markets.
Everyone has heard of traditional bookmakers, but have you heard of betting exchanges such as betfair? They are markets modelled on the stock market where punters can buy and sell bets. That means you can trade in and out of a single bet multiple times and lock in a profit before the event even happens.
Traders will create strategies to buy and sell these bets.
Resources to help you get good at sports trading
I wrote a pretty detailed post on my experiences sports trading here. I had some initial success and was making money, but struggled to scale up. I am still trying my hand at sports trading now using the automated trading software called BF bot manager.
The BF stands for betfair which is the worlds biggest betting exchange and the most popular one for sports trading.
Most sports trading strategies are based on the stock market, so if you are looking to make money gambling using trading, then the best place to start is with stock market trading strategies. There are lots of books on amazon about the stock market or algorithmic trading.
Poker player
And other skill-based gamblers.
In short: be better than your competition.
Whenever I used to tell someone I was a professional gambler they assumed I meant poker player. It is definitely the most well known and well-understood way to make money gambling, but that means it is also one of the hardest – because everyone is trying it.
The hardest part about being a professional poker player is not just being better than your competition, that’s actually the easy part. The hardest part is being better by enough to cover the ‘rake’. The commission that the casino takes from each hand. To successfully make money gambling with poker there needs to be a very large gap between your skill level and that of your opponent.
In other words, the better your opponent, the less money you make. So here is the secret:
The people making the real money in poker are not the famous names winning the big tournaments, but the anonymous professional gamblers sharking on not very good players.
Resources to help you get good at poker
The biggest and best forum for all things poker is the two plus two poker forum. If you want to start learning strategies and eventually make money gambling, that is a great place to start.
If you really get into it you will probably end up with accounts at all the online poker sites, so you can make the most of the welcome bonuses. But if you are looking for a good place to start I recommend betfair poker. A betfair account is pretty useful to have and you can use it for some of the other ways to make money gambling.
Warning – make sure to start slow. Play really low-value tables and only work your way up once you are making money.
Card counter
And other loophole based gambling
In short: keep track of what cards are left in the deck in a game of blackjack, so you can bet large when the odds turn in your favour.
You may well have heard of card counting from the film 21. The hollywood adaption of the true story of a team of students from MIT who made millions card counting playing blackjack in vegas.
But what you probably don’t know is that one of the biggest funders of that film was MGM grand, who own a lot of very large casinos. Card counting is really difficult and casinos have got very good at making it difficult to make a lot of money from it so they actually welcome in amateur card counters. They know most people won’t be good enough and will lose money, and they can ban anyone who is winning.
I went to vegas to try my hand at card counting. And surprise surprise didn’t get very far. But it is possible and there are plenty of successful professional gamblers who do it. Just be prepared that it is very difficult and not particularly glamorous.
Resources to help you get good at card counting
First off you cannot card count at online virtual casinos. This is because they shuffle the deck after each hand. So if you are going to do it you need to go into physical casinos.
I really liked the independent film holy rollers: the true story of card counting christians. It is a documentary following a blackjack team of christians in america, and is probably the only film about card counting that I believe gives you a true idea of what it is actually like.
They spend all their time on the road travelling to obscure casinos where they haven’t yet been banned. When they get there they play as long as possible until getting caught, then take their winnings and move on to the next casino. There is no glamour and they don’t even make that much money.
Cheater
Including collusion, match-fixing and inside knowledge.
In short: find a way to cheat, and don’t get caught.
All of the other ways to make money gambling are completely legal and won’t get you in any trouble. But there is one other type of professional gambler. The cheater. And be warned, people do go to prison for cheating.
This can include a whole range of cheating:
- Collusion – where you team up with another player at poker to gain an unfair advantage.
- Match-fixing – where you know who is going to win or lose a match before it happens by convincing the players to fix the result.
- Hacking – where you hack slot machines or online gambling sites to get an unfair advantage.
- Inside knowledge – sometimes not all information is in the public domain yet. If you know that a key player is injured before anyone else, then you can bet and make money on that knowledge.
- Loaded dice – or marked cards can also be used to cheat.
Resources to help you cheat and make money gambling
I am not going to teach you how to cheat at gambling, but if you are interested in the history of it there are some interesting stories. Here is a documentary on youtube to wet your appetite:
So you still want to be A professional gambler?
I recommend starting with matched betting. It is by far the easiest and although it is limited in the amount you can make, it is a good gateway into professional gambling.
Further reading
I have a lot of posts and guides about professional gambling. Here they are:
10 ways to make money at A casino without gambling
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During my years as a blackjack and roulette dealer I watched a lot of people lose a lot of money. I also saw a few players win money — I’ll get to that in a moment.
Oddly, most of my coworkers loved to gamble. You would think they’d know better, since all of their wages (and all those pretty buildings) are paid from gambling losses.
I didn’t (and still don’t) share their gambling habits. On the other hand, it can be fun to hang out in a casino, especially if they have free drinks.
So I understand why people might budget a little bit of money to lose at the slot machines or table games.
Of course it would be even more fun if you could do better than limit your losses, right? It would be great if you could make money at casinos .
Here are ten ways to make money at casinos, along with some ways to save money by going to a casino, and — in case you need to satisfy your inner gambler — a way to risk a little money to win big.
1. Become a card counter
Regular blackjack gives the “house” (the casino) an edge of about 0.5% to 3.0% depending on the rules and how well you play . However, at times the game is in your favor as a player.
Specifically, you have an advantage when the remaining cards include more aces and face cards than normal.
To know when this situation has developed you can track the cards using a simple plus-or-minus count, and then bet more when the count is right .
You can learn card counting in a few hours, but to be proficient while playing at a busy blackjack table takes many more hours of practice.
Keep in mind that casinos can ask you to leave, even though card counting isn’t illegal. Where I worked management tolerated small-time card counters.
They probably figured that having a few winners encouraged the less-disciplined players to keep trying. The edge from good card counting is only 0.5% to 1.0%.
So, for example, if you play at a table with a $5 minimum and alternate your bets between $5 and $50 (when the count is right), and there are 50 hands dealt per hour, you might bet a total of $700 per hour, for an expected profit of just $7 per hour (with a 1% edge).
Clearly, to make some serious money you have to be good and bet more.
By the way, having the odds in your favor doesn’t eliminate the ups and downs. I can tell you from experience that even the house, with a larger statistical edge, loses on some days.
So with bets of, say, $25 to $100, you may do well in the long run, but you have to stomach nights when you lose thousands of dollars .
Still, if you do it right, you’ll be ahead in the long run, so you’re working , or investing , not gambling .
2. Try credit hustling
Credit hustling is simply looking for leftover credits on slot machines. Players often forget and leave without cashing out.
On slow nights when I had no players at my blackjack tables, I used to watch credit hustlers checking the machines, and they sometimes found credits.
They once found more than $900 in a single machine, although finding a dollar or two is the norm.
While not illegal (if the credit have been truly forgotten and abandoned), casinos don’t care for credit hustlers, so you’ll normally try to keep a low profile.
3. Join A players club
Almost every casino has some sort of “players club” you can join for free.
Apart from earning points as you play, which can be redeemed for freebies of all sorts, you also usually get some rewards up front for signing up.
For example, many casinos offer “match play” money. That might be $5 coupons or chips, for example, but you have to bet $5 of your own along with each one.
You can lose, but when you win $10 for betting $5 of your own money the odds are with you even at the worst games.
If you round up enough of these deals you can be pretty sure you’ll make a profit playing just long enough to use up your match play.
Casinos may offer a free meal or other goodies for joining the club too, which at least saves you some money.
4. Take advantage of promotions
The casino where I worked handed out out $10 in free play to everyone who walked in the door (for a while anyhow).
Some couples came every day to get $20, playing perhaps 50 cents each in the slot machines before leaving with the rest of the money.
When my wife and I lived in florida we went to a casino where they gave us each $5 in free slot machine play, and a free dinner, and free wine.
The catch was we had to play at least 100 times, but at nickel machines with a 12% house edge the expected loss is only 60 cents (100 x 5 cents x 12%), so, by playing slowly, we left ahead (and full) every single time we went .
Watch for any promotions at casinos near you, and see if there is some way to turn a profit from them.
5. Become A good poker player
When you play against the casino, the house has the edge, but when you play against other players, you can have the edge if you’re good.
There are plenty of online tutorials on how to win at casino poker , but keep in mind that the house takes a cut of every pot, so you have to be significantly better than the other players to come out ahead.
As someone who has won money at poker (and chess) without much skill , I can tell you that the key is to play against weaker players.
Going against stronger competitors might help you prove something, but if you want to make money, look for tables with weak players.
6. Play in slot tournaments
Slot tournaments usually involve playing to see who does best in a set time, using machines set up with fake credits.
These events encourage fast play and are meant to get people into the casino, where they might gamble their own money before and after the competition.
Googling “free slot tournaments vegas” turns up (at the moment) a couple options, including one tournament that cost nothing and has prizes of up to $500 in slot play (you may have to play it through a machine, and then you keep whatever you’ve won).
Even tournaments with an entry fee can be money makers, because the prize pool often significantly exceeds the total of the entry fees.
In other words, if you’re good, and you play in a dozen tournaments, you’ll probably win more than what you spent on entry fees.
7. Play A biased roulette wheel
There are 38 pockets on an american-style roulette wheel, and a “straight-up” bet pays 35-to-1 when you win (plus you keep the bet). You can see that this is a losing proposition.
But what if, instead of each number coming up randomly 1-in-38 spins, some numbers came up more often than they should?
When I ran a roulette table one of my customers made a profit of $80,000 over the course of 16 months or so. I met him at a coffee shop after I quit, to get the whole story. Here’s the short version:
He wrote down the winning numbers for 5,000 spins (it took weeks). The number 2 was winning an average of 1-in-28 spins.
He bet $5 repeatedly on that number. On average, he lost $135 for every 28 spins (27 losses), but won $175 (35-to-1 payout) when the number 2 came up, for a net profit of $40 per 27 spins.
There are various possible reasons for a bias, ranging from a sticky pocket (temporary) to manufacturing imperfections (a more durable bias).
The good news is you don’t need to know why a certain number comes up more often to take advantage. You just need to verify that it’s a true bias (which takes thousands of spins).
I’ll let others teach you more about biased roulette wheels , but I’ll warn you that it’s tedious work to find one, and even with an edge you’ll have losing nights (my customer sometimes lost over $700 in a night, even though he was far ahead in the long run).
8. Identify A roulette dealer signature
Some dealers may habitually (unconsciously) repeat certain patterns when they spin the wheel and the roulette ball, which makes the winning pocket more predictable.
My experience? On a slow night with no players a pit boss and I each chose a number and alternated spinning the wheel and dropping the ball, betting a dollar for each win
I came out $14 ahead in couple hours, meaning I spun my number 14 times more than he spun his.
So I strongly believe dealer signature is possible, and even gambling expert frank scoblete agrees , but how often it happens in real play, and whether you can take advantage of it… well, who knows? But here’s what you might look for…
Note the number passing by at the moment the dealer releases the ball, and note the winning number. After doing this many times (with the same dealer) look for a pattern.
For example, a dealer might be so consistent (in the speed of the wheel and the ball) that the ball lands in a certain “section” of the wheel (in relation to the release point) more often than it should.
If it lands in a section that covers a third of the wheel, but lands there half of the time, you have a signature.
Now it gets trickier. If the target section is, say, the 13 numbers starting 4 pockets to the left of the release number, you have to identify the release number and quickly place bets on as many numbers as possible in the target section, before betting is closed .
Could it work? If not casinos wouldn’t be so quick to change balls, change dealers, and move roulette wheels when it looks like people are winning. Where I worked they did all three often.
9. Use casinos for business networking
I heard a lot of conversations at my tables. Sometimes they resulted in players getting new clients or developing new business relationships.
And I learned about how to make money from scrap metal from one such conversation.
It’s common for players to talk to other players at a blackjack or roulette table, which makes a casino a great place to network and find new ways to make money.
And watching how players handle those stacks of chips in front of them can tell you a little about whether you want to do business with them or not.
10. Get A casino job
In 1994 I was making $14 per hour dealing blackjack and roulette. A BLS inflation calculator tells me that’s the equivalent of $24 per hour in today’s dollars.
And, in fact, a friend who still works at that casino says she makes over $20 per hour.
Dealing table games is just one of the many positions you might find at a casino near you. One of my coworkers started as a surveillance officer with no experience, and used the knowledge and experience gained to later build a successful business selling surveillance equipment.
Other positions include slot machine tech, bartender, waiter, cage worker (handling the money), and pit boss.
Also, working in a casino usually means you’re forbidden from gambling there, which might be a good thing for some readers.
Save money by taking advantage of casino freebies
Some casinos have free events at which they put out snacks or even full meals. Other casinos offer inexpensive meals at their restaurants. Watch for these deals as a way to save money on a night out.
Even the free drinks offered by many casinos can make for a cheap night out if you know what you’re doing.
For example, my wife and I play 5-cent slot machines, set the speed to “slow” (keno machines usually have three settings), and, by the time we have lost a couple dollars we’ve had a few drinks and some fun.
Turn $60 into $600 by betting the right way
Maybe you like to gamble, and you’re smart enough to limit your losses. But how you play still matters.
For example, with a $60 bankroll, if you bet $5 per hand at a blackjack table you can often play all night, but you’ll never be very far ahead at any point.
That’s great if you want to sit there and enjoy the free drinks.
But to win big you need to make bigger bets at some point. For example, if you’re $20 ahead, bet $10 per hand, and if you get further ahead, bet $20 or $40 per hand. To summarize:
Bet the table minimum when you lose, and bet more and more when you’re winning.
Most of the time you’ll lose your $60 faster this way (because you’ll often those big bets), but it gives you a chance to win big from time to time.
I saw many people turn $60 into $600 over the years, and not one player did it by always betting the table minimum .
You have to “press your luck” to win big. Just be sure to bring a limited amount of money, so your losses are not a big deal.
You may like to gamble, and if you limit your losses, it’s affordable entertainment. Even better, if you time your casino visits to coincide with promotional events you might get some free food and drinks.
And finally, if you’re willing to do the necessary work, you can even make money in a casino, and without really gambling.
If you know other ways to make money in a casino, share your ideas below … and keep on frugaling!
So, let's see, what we have: here are the math and probability of how casinos make a profit with definitions of key terms and how this leads to producing casino records and income. At how does online casino make money
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