10 Online Betting Tips I Wish I Knew Before Placing My First Bet
With its diverse selection of games, casino gambling provides ample entertainment opportunities. However, the vast array of options can pose a challenge for beginners, such as myself, who may struggle with understanding house edges, developing effective strategies, obtaining comps, and managing their bankroll. My limited knowledge in these areas resulted in suboptimal winnings. To avoid similar pitfalls, new casino gamblers can benefit from learning from my early mistakes.
1. The Casino Has the Edge in Almost Everything
Entering a casino for the first time, I held many stereotypes and misconceptions, particularly regarding the house edge. However, almost every game and bet in the casino gives the house an advantage, which is how they make their profits.
Although luck can lead to short-term gains, it's important to understand that players face a long-term disadvantage. Even a seemingly low house edge, like the 2.70% in European roulette, is still an advantage for the casino.
Despite this, casino games can still offer opportunities for short-term wins, but it's important to recognize that gambling is not a sustainable source of income for most people, aside from professionals.
2. House Edges Can Differ Greatly Between Games
To win at casino gambling, it's not only important to understand the house edge, but also how it varies among different games. Playing the highest-paying games is ideal for winning, but this can be difficult if you don't know the different house edges. However, it's still a personal choice which games to play, and some players may prefer lower-paying games like slot machines and Caribbean Stud. Nonetheless, it's crucial to know which games offer the best chance of winning, given the significant differences in house edge between games.
This is a list of casino games and their corresponding house advantages:
- Video poker = 0.46% house edge
- Blackjack = 0.5% to 2.0%
- Baccarat = 1.06% (banker bet)
- French roulette = 1.35%
- Craps = 1.36%
- Pai Gow poker = 1.46%
- European roulette = 2.70%
- Let It Ride = 3.51%
- Online scratch cards = 5.0%
- Caribbean stud = 5.22%
- American roulette = 5.26%
- Keno = 10% to 40%
3. It's Important To Know The Right Bets And Strategy
Knowing the right bets and strategy is essential to achieving the lowest house edge and winning in casino games. Specific strategies and bets must be used to reduce the house advantage, such as in blackjack, poker, sports betting, and video poker. Baccarat, craps, and roulette require making the right bets. To boost your chances of winning, it's important to choose the best games, such as French roulette (1.35% house edge) and European roulette (2.70%). Get to know the strategy and best bets for the games you enjoy playing.
4. Strategy Isn’t as Difficult as You Think
Initially, the idea of studying game strategies seemed daunting to me, and I thought it would detract from my enjoyment of gambling. However, I learned that most strategies are relatively straightforward, especially for games like blackjack and video poker.
Strategy charts are widely available online and offer clear instructions for making the best moves based on the game situation. Video poker trainers can also help you learn by identifying mistakes and giving feedback. While the mastering strategy for all games may take some time, even a basic understanding of blackjack and video poker strategy can significantly reduce the house edge.
5. Land-based Casinos Don't Immediately Give Out Comps
One of my mistakes was not taking advantage of casino comps when gambling at brick-and-mortar casinos. Comps can include free drinks, buffets, hotel stays, and more, but I missed out on these perks because I didn't sign up for the players club.
By joining the loyalty program, you can receive rewards on table and machine-based games, and if you're playing at a corporate-owned casino, you can use your player's card at any of their properties. To receive table game comps, make sure to give your players club card to the dealer, who will pass it on to the pit boss to rate you.
6. Casinos Send You Frequent Offers
Joining players and slots clubs can earn you more than just comps, as you may also receive free offers from casinos through email or social media. Signing up for an online casino account takes only a few minutes and can give you access to the latest promotions. Don't miss out on the best rewards by failing to look for casino promotions.
7. Online Casino Bonus Requirements Vary For Wagering
Online casinos often offer welcome bonuses to entice new players to join and deposit funds, but it's important to check the wagering requirements before making a deposit. The standard requirement is 40x the bonus or 20x the bonus plus the deposit amount, but some promotions have lower requirements.
Checking the terms and conditions is a good idea to ensure you don't have to wager too much to unlock bonuses.
8. Online Casinos Give The Best Chance To Win
Gamblers enjoy land-based casinos for their atmosphere, but playing online offers a better chance of winning due to lower house edges from reduced expenses. Online slots offer 95-98% payback, while land-based slots offer only 88-94%.
Blackjack often has more favourable rules online, and other games have similar advantages. However, it's important to check the rules to avoid higher house edges. Overall, internet casinos offer better-winning chances and lower stakes.
9. It’s Hard To Become A Pro Gambler
Becoming a professional gambler is a challenging pursuit that requires a substantial bankroll and exceptional skills. For example, poker players need enough money to cover 30 cash game buy-ins or 75-100 tournament buy-ins, along with extensive knowledge of odds and tendencies.
Card counters must master the art of counting while avoiding detection, while sports bettors need to be able to research and analyze lines effectively. While it's possible to make a living through gambling, it takes a lot of dedication and effort to succeed.
10. Bankroll Management Is Important
Bankroll management is essential for beginner gamblers, as it helps to extend their bankroll and avoid losing money too quickly. The key is to develop a plan that considers the game being played. For instance, for a $10 per hand blackjack game with a 1% house edge and a $200 bankroll, the theoretical loss per hour is $7. Adding $5 for tipping the dealer, the bankroll can last for about 16.7 hours. Similarly, for a $0.25 slot machine with a 6% house edge and a $150 bankroll, the bankroll can last for 12.5 hours. Although BRM is just a rough guideline on theoretical losses, it helps to have a plan in place to know how long the money will last.
Although anyone can gamble without any prior knowledge, it's advisable to learn about the subject to increase your chances of winning. When I first started gambling, I relied solely on luck, but after learning strategies and which games offer better payouts, gambling became more enjoyable. As a new gambler, it's unnecessary to make the same mistakes I did. Keep in mind the tips discussed here to give yourself the best chance of winning at casino games right away.