Strategy, patience, and luck - How to maximise your odds in online casinos

Thanks to the rise of online platforms, many people gamble today. In fact, looking at statistics by DemandSage, you may be surprised that about 17.6% of adult’s worldwide gamble online.

This is one of the reasons Data Bridge Market Research values the global casino market at $414.81 million and expects it to hit $743.68 million by 2032. According to casino.org, the best online casinos have been taking advantage of features like bonuses to attract and retain players, explaining the industry’s growth.

But again, anyone who’s played for some time will agree that casino gaming can be frustrating, you’re less in control than you are in a game like chess, so you may get overwhelmed, and obviously, without a top-line strategy, you may make foolish moves.

Acquaint yourself with the odds

Odds simply refer to the possibility of a certain outcome occurring against its possibility of not occurring. In other words, they inform you of your chance of winning against losing.

Casino games have differing odds depending on gameplay rules, strategies, and bet types. Think of it as the odds of slots determined by the random number generator and the odds of tabletop games that depend on the games’ rules and players’ decisions.

Then there’s the house edge, a built-in statistical advantage the house has over players. It is usually a portion of each bet that the house expects to retain in the long run. A higher house edge means worse odds for the player and vice versa.

Here is a more detailed explanation

• Slots may have a house edge ranging from 2% to 10%
• Blackjack can have the edge as low as 0.5%
• Roulette, especially European roulette, has it at around 2.7%; in American roulette, it can get to as high as 5.26%
• Craps vary significantly, with bets like the pass line bet having the edge as low as 1.41%.

Manage your bankroll

You don’t want to get carried away and lose more than you can afford in what was supposed to be just a source of entertainment. This is why effective bankroll management is one of the primary skills you should have as a player.

Take a game type like poker, for instance. Some experts claim you shouldn’t risk more than 2-3% of your entire bankroll in a single game, while others set 5% as the maximum.

Paying attention to such details can help avoid certain ripple effects like broken relationships, which you don’t want for yourself. To get started, set your gambling budget:

• Decide on an amount you’re okay losing and consider it your gambling fund
• Avoid using borrowed money
• Spread your budget across smaller gaming portions to avoid spending it all at once
• Decide on the time and frequency you’ll be playing

You also don’t want to choose a game with higher betting limits if you’re a beginner or your bankroll is small. Opt for micro stakes games, which allow longer playing periods without risking much money.

The 50-30-20 rule for fund allocations can really be handy. Allocate half of your funds to actual betting and reserve 30% to top up your account during losing streaks. The remaining 20% can go to your savings or act as a cushion just in case things don’t turn out as planned.

Remember also to keep track of your gambling activities. Take advantage of the activity history feature on most online casinos to track your engagements and know when to quit.

Take advantage of betting strategies

Gambling is just a game of chance, and no betting strategy can totally guarantee positive outcomes. But there are some, like Martingale, that can help improve the experience.

In Martingale, betting is progressive as you double the stake of your next bet following a loss to recover the previous loss. But this can be risky!

Imagine losing a first bet of about $100. If you lose the second bet, you’ll be down $200 and need $400 on your next bet. What if you never have a positive outcome? You may end up losing all your money.

That’s why you want to consider alternatives like flat betting. For newcomers, flat betting can be an excellent option as it allows wagering a predetermined percentage on almost every game. The bettor decides the size of their stake depending on their capability to handicap an event.

Kelly Criterion can be handy for experienced gamblers. It allows bettors to approximate the possibility of positive outcomes with a certain level of confidence.

Final words

Although gambling is mainly based on chance, there are some strategies that can help make the experience worthwhile. After all, no one wants to start gambling and lose all their funds because of foolish mistakes that could be otherwise avoided. However, with these few tips, you can always be sure of a lasting and engaging gambling experience.