Winning at an online casino is no cakewalk. It requires skills, time management, and practice, all in the backdrop of a reasonably designed and operated game. Winning comes from having better chances to play smart and turn the tables. How does that happen? All hail the approach called advantage gambling or advantage play. Based on certain positive mathematical calculations and expected outcomes, these values will help you get better control over online casino gaming.
Advantage Gambling methods
Earlier, these kinds of bonuses were offered by casinos looking for new visitors. Today, it is a common practice followed by many reliable casinos. The provision that you do not lose money gives you an advantage over the casino. You get small sums of money to gamble. However, it is strongly advised to go through the terms and conditions of such offers and ensure that there are no spurious terms.
Casino deposit bonuses
Casino deposit bonuses involve risk. However, betting without taking risks is not possible. As you gain more experience in playing online casino games, you will need to move beyond your comfort zone and play games with a higher profit cap.
A casino deposit bonus includes either prize money or extra turns to play as an incentive for investing money in online casinos. For example, if you have deposited X amount, you will get 50% of it, all of it or even double the amount as a bonus.
The percentage of a bonus depends upon the game’s nature. So, check the percentage of the deposit bonus promised. Again, spend time to understand the terms of the bonus and do the math. You should be able to calculate the worth of total bets that need to be made before you can actually get the bonus.
Calculate the estimated value
Estimated value or EV is the potential loss you face after the wagering requirements are met. To calculate EV, you need to look for the house edge that the offer includes. Why? Because house edge can limit the number of games such as Slots, Keno or Scratch Cards, etc. that you can gamble on.
EV can be calculated in a number of ways. However, the one that is followed the most is EV = Bonus – (wagering requirements x the house edge).
In other words, EV is the result of subtraction of the product of the aggregate amount of your wager with the house edge, from the bonus.
You need to keep a watch on your bankroll, as this also involves some risks. The expected value does allow you an edge while playing online casinos, but that’s only if you know how to keep a sticky patch away to gain the advantage.
Even if you hit a low point, ensure that you have enough funds to wager as you do not want to lose out on your advantage. How do you do this? Begin by placing 2-3% of your bankroll. Why this low? Because you cannot ignore the standard deviation. However, you may also win more than you had accounted for.
Choosing offers with positive EVs is important to benefit from the advantage in the long run (only if you take up enough offers), but remember not to bet too much on them, especially when the stakes are high. Follow this thumb rule – the higher the stake, the smaller the bet. So, cutting your bets from 1% down to 0.5% or 0.25 is a good idea.
Evaluating other deals and promotions
There is no shortage of offers on online casinos. While these may help advantage gambling, you should also check out other deals, such as free spins and refunds.
Use deposited bonuses to decide whether they carry positive estimated values. Take the offer if they do. You can find the EV by calculating the amount to be won and the house edge.
So, contrary to the popular notion that winning online casino games isn’t easy, it is actually possible to beat the odds in online gambling. Approaches in advantage gambling allow you to determine and capitalise on the estimated value of the bets.
Keep in mind that it takes time to learn to calculate the expected values correctly.
By Gaurav Mittal
who is a Content writer and he loves to write about Finance & Insurance Articles.
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