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To most people, online casinos are almost synonymous with frantic fun and money (though perhaps mostly losing it). Those are part of the gambling experience, of course, but that’s not all there is to it. You may have heard of people who’ve not only gambled and occasionally won but who win regularly and even make a living playing on online casinos.
Is this feasible, or have such folks just gotten lucky? Let’s figure out if you can make money playing on online casinos below.
Making Money on Online Poker and Other Card Games
The best way to make money playing on online casinos is to avoid games of chance and instead focus on games where you, as the player, can control as many of the variables as possible. Of course, all casino games include at least some element of chance, including card games. However, games like poker give a smart and skilled player enough control that they can avoid big losses and win more consistently.
Do You Need to be a Professional?
Professional poker is a shining example of just how much money a good player can make over time – a glimpse at the all-time poker money list reveals some staggering figures. Of course, these are professionals we’re talking about, and not everyone can play on that level. Nevertheless, the very existence of professional poker tournaments and successful players shows that this isn’t “just a game of chance.”
Poker as a Money-Making Hobby
Even if you’re not ready or willing to go professional, playing poker or another card game online can be a nice source of extra income. It’s still important to be careful about it, as card games require considerable concentration. Successful online poker “hobbyists” typically make hundreds or even thousands of dollars a month, which can be a great side (if not primary) hustle.
The things that make a player successful usually include:
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Studying the game extensively before you start playing. This includes getting up to speed on the game’s best practices, watching professionals play, reading books, and listening to podcasts that discuss strategies.
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Finding the right time to play – a time of day when you’d be 100% comfortable and free of distractions.
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Staying focused – poker or other similar card games aren’t something you want to play when you have other things on your mind.
Is It Possible to Make Money Consistently With Online Slots and Other Similar Games of Chance?
Games of chance such as slots are, by definition, a matter of luck. So, unless you’ve found a way to cheat, it’s statistically unlikely that you’ll ever be able to consistently win money on slots every time you play, either online or in a real-world casino.
This isn’t to say that you can’t hope for a winning streak every once in a while, as those certainly do happen. Even a single higher-value prize can more than make up for a losing streak. As for jackpots, they are sometimes to the tune of tens of millions of dollars on online slots such as Mega Moolah, Arabian Knights, and Mega Fortune.
But even with lots of luck and exciting winning streaks, you should play slots for fun, not for guaranteed long-term earnings. That being said, even with games of chance, there are ways to mitigate your losses and optimize your wins to a point where you won’t be breaking your budget. If we’re to take online slots as the most popular example, here are the tips you’d want to follow:
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Look for casino offers such as free spins and other welcome bonuses. Virtually all decent online casinos offer a welcome bonus of some kind. However, not all of those are worth looking into, and it’s important to look into the fine print before you subscribe to anything.
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Double-check the bonus turnover requirement and bonus win limits. Free spins and welcome bonuses almost always come with turnover terms, also known as wagering requirements. These dictate how much you need to wager before you can withdraw your winnings. Higher bonuses usually mean higher turnover terms.
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Try demo/free versions first if such are available. For example, you can play the demo slot Olympus to trigger features and figure out how the game works first before you go into the real-money version.
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Stay away from branded slots. These include slots associated with pop culture, movies, video games, or music brands. While such slots can be great fun, they usually have a low RTP (return-to-player) and high volatility. There are exceptions, but the rule of thumb is to avoid branded slots altogether.
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Look for high RTP. All slots are supposed to display their return-to-player on the game info tap. The RTP is always below 100% because the house always makes a profit overall. However, the difference between 85% RTP and 94% RTP is pretty massive for the player in the long run.
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Don’t compromise on your stop-loss strategy. Having a stop-loss strategy is necessary if you want to have a good time gambling. Many players fall into the trap of thinking that if they’ve lost too many times in a roll, they “are bound to win soon,” but that’s just not the case. Therefore, it’s important to always have a “loss ceiling” and stop playing the moment you reach it, no matter what.
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Have a stop-win strategy too. The opposite is also true – you may think that you should keep playing if you’re on a lucky streak, but that’s exactly when you should stop. The fact that you’ve won several times in a roll doesn’t make it any less likely that you will lose big on the next spin. So, stop the moment you find that you’ve won a fair bit – doing so guarantees that you remain a winner.
In Conclusion – Should You Be Playing Professionally, as a Part-Time Side Hustle, or Just for Casual Fun?
Obviously, nobody will tell you that you’re certain to succeed and make lots of money if you play on online casinos. Gambling is gambling, and all casino games come with some inherent risk, even those that aren’t entirely based on chance.
At the same time, there are many people who consistently make a living playing online casino games. Doing so usually involves a lot of research, strategy, and time, so it’s certainly not something you should take on lightly. If you’re ready to put in the work, however, you can reap quite a few benefits from the pastime.
