How to Be a Smart Gambler in 2021
Gambling is fun, and it can also be profitable. Success, however, comes to few of us. Gamblers have a lot to learn, and knowledge is power. While the majority of games have random outcomes, typical mistakes are costly. Follow our tips to upgrade your strategy and see better results in the long run.
The casino industry is booming, and players have an abundance of choices. The best ClashOfSlots games are a tap away, with flawless graphics and sound on any screen. Huge bonuses and progressive jackpots make them irresistible. Here is how to stay rational and achieve more.
1. Know the House Edge
Do not choose games at random. Some novices sit at a poker table because they have seen it in a Bond movie, or pick a slot because of its colorful graphics. Unless you are looking for entertainment with an unlimited budget, be smarter.
Any gambler in pursuit of profit must learn about the house edge. The house, or casino, always has an advantage, but it depends on the game. For example, a banker bet in baccarat comes with a 1.06% house edge. A player who wagers $100 loses $1.06 automatically in the long run. The games with the lowest house edge are:
- Video poker — Not So Ugly Deuces Wild (0.27%)
- Blackjack (0.5% – 2.0%)
- French roulette (1.35%)
2. Study the Betting Odds
The house edge alone is not informative enough. A smart gambler should also look at the odds behind it. Some wagers come with a modest house edge, but you are unlikely to win quickly.
European roulette is a perfect example. In this game, the casino wins 2.70% on every wager, but the odds vary dramatically. For instance, compare these options (odds/payout):
- Odds/even – 1.06/1:1
- Dozen – 2.08:1/ 2:1
- Single number – 36:1/35:1
So, what should you do to win in the short term? Look for a low house edge and decent odds. Knowledge of this correlation will help you manage your budget better.
3. Read Online Bonus Terms and Conditions
No casino is interested in giving you anything, let alone money, for free. If you get a bonus, its purpose is to inspire you to stay on the site and make more deposits. Too many reckless gamblers jump at large bonuses without reading any terms and conditions that come with them. This is a big mistake, as every gift comes with strings attached.
Whatever the size of your bonus, it is technically useless if you will not be able to withdraw it. Some scammy casinos set unrealistic requirements. You may also encounter very low cashouts or bonuses that are non-cashable at all.
First, pay close attention to the wagering requirement. Is it really possible to earn the bonus? On average, you need to wager it 40 times (40x). Alternatively, you may be required to wager both the bonus and the deposit (e.g., 20x). Thus, if you get $100 from the casino, you need to make $4,000 worth of wagers to qualify.
- If the multiplier is 60x or higher, take your gambling elsewhere'. Unless the casino offers a lot in other areas, this is a bad deal.
- The best conditions you can find are 30x and 15x (for the bonus alone or the bonus and deposit, respectively.)
- Sometimes, only certain games count towards unlocking a reward. In most cases, you can earn bonuses by playing slots, keno, and scratch cards.
Usually, you can find the terms and conditions on a special page. If navigation is complicated, try using the Find feature on your browser. Look for words like “wagering requirements” and “bonus”.
4. Avoid Gambling Systems
Betting systems, such as Fibonacci, Labouchere, Martingale, and Paroli, prescribe a specific pattern of wagering — for example, doubling the bets after winning or losing. This is a great way to change your betting, but do not take it to extremes. Gambling systems are only useful for winning quickly, but the long-term value is nil. You cannot beat the house edge by placing bets in a specific way.
Such methods are not strategies for profits. Anything marketed as a “guaranteed gambling system” is a scam. To improve your chances in the long term, you should become an advantage player.
5. Understand That the Odds Are Stacked Against You
You are not due for wins, never. When gamblers are experiencing a losing streak, they may expect their luck to turn around. This is a dumb idea, as the games are based on pure chance — mathematical sequences of the random number generator. You can win twice a week, twice a month, or twice a year. There is no predictability whatsoever.
Chasing losses is the deadliest sin of financial trading, and it works in gambling, too. The urge to extend your play is purely emotional, as you are frustrated by the loss. Instead of leaving the casino (the only reasonable decision) — you stay and exacerbate the damage. This is definitely not a smart thing to do.
Most games (with the exception of live-dealer options) are built on RNGs. This means your previous activity has no effect on the future. The odds never change. For example, your chances of winning at baccarat excluding ties are 51%, and this is true for every hand.
6. Keep Your Emotions in Check
Your biggest enemy is yourself. Emotions cause all typical mistakes, from chasing losses to thinking you can beat strategic games without research. Here is the rule of thumb: never gamble when you are excited or depressed. Any strong emotions, whether negative or positive, cause irrational behavior and overbetting.
Online casinos take advantage of human psychology. They attract us with promises of free money, colorful graphics, and immersive effects. In this digital world, losing control is easy. Gamblers who do not have a strategy and fail to learn are doomed.
Study the house edge, betting odds, and any other terms and conditions. Keep your budget under control and take bonuses with a grain of salt. Remember: the house always wins, but you can also get lucky with the right strategy.