Gambling is a lot of fun. It’s a great source of entertainment, tests the skills and patience of a player, and can be a simultaneously rewarding and thrilling experience. Ultimately, if comes down to winning. After all, no one likes to lose, and the big draw of casino gambling is the chance to win big on your favorite casino games. Have you ever stopped to think how you could win real money playing at a casino? It might not be immediately apparent how to get rich playing high stakes poker, craps or slots games.
We’ve all heard of the various casino guides, online strategies and gambling books that supposedly teach players how to beat the house edge or hack the system. The truth is that it is easier said than done. Professional gamblers will tell you that it takes years of practice and experience in order to see consistent returns in their game.
However, the good news is that it is not impossible. There is a lot of information out there as well as useful tips that help players gain the upper hand when it comes to hitting the casino floor. Here at Planet 7 Online Casino we’ll show you the ultimate strategy on how to get rich gambling.
1. You can use the house edge
When it comes to casinos, there is one unavoidable truth that each player must face – the house edge. This is not a matter of opinion, but a mathematical certainty. The more time that you spend playing casino games, the higher the probability is that you will lose money. Despite this probability, it does not mean that you cannot win. There are of course short-term anomalies, such as hitting a coveted jackpot or a dealer having a bad night. However, your best bet as a player is to memorize the house edge for each casino game and improve your gambling skills. Over time, these two factors will help bend the rules in your favor, and can be the difference between winning and losing. Let’s start with a list of popular casino games that have the lowest house advantage (in order from best to worst).
Video poker (perfect strategy) +1.0% to <1.0%
Blackjack <2.0% (expert strategy)
Single Zero Roulette 2.7%
Big Six, Keno 11-24%
2. How to win real money
Now that you know where to start, what’s next? You’ll need to set up a gambling budget and bet appropriately for each game that you choose to play. Not all casino games pay out the same, for instance a large wager on a straight bet in roulette will give a much bigger payout compared to placing a large banker bet in baccarat. The odds and payouts are different, and after doing a little bit of homework on what the payout odds and percentages are for each bet (for each game), you’ll have a better idea on what to play, and what to avoid. Read on to find out more!
3. You must avoid slots and lotteries
Anyone who visits a casino will undoubtedly have their senses bombarded by the cacophony of slot machines that permeates the casino floor. Their flashing lights and clinking of falling coins lure players to insert their tokens and game cards, and to take a seat in front of the spinning reels. Slot machines promote huge megabuck and jackpot wins, but the truth can be something altogether different. Slots machines have some of the worst odds in a casino. Statistically, your odds of hitting a jackpot on casino slot machine are very poor.
Although you could technically win $1 million on a progressive slot machine, the odds are so astronomically high that you’ll have a better chance winning $1 million by wagering $100 on roulette and doubling your bet every time you win. Even roulette can fail you however, because in order to win a million you would have to win a whopping 17 times in a row. This is easier said than done. Although your odds of winning 17 times in a row in roulette straight bets are not good, they are still better than the odds for winning a slots jackpot or lottery.
According to the math, your chances of earning $1 million on a table game like roulette are about 1 in 120,000. Seems poor, but your chances of hitting a jackpot on a slot machine are a mind-blowing 1 in three million! Realistically, no player should depend on slots or lotteries for those big wins, but consistent small wins over time can increase your bankroll.
4. You must be patient
This might seem like a no-brainer, but one of the most important aspects of how to get rich gambling is to have patience. Realistically speaking, the ability to attain consistent returns is about looking at the total sum of your wins, and not their size. It may take a while to win real money and get rich gambling, but the sure-fire way is by slowly increasing your funds. After all, no matter how small, profit is profit.
Just like any good investor, gamblers will formulate their gaming strategies based on long-term objectives. It is important not to rely on get rich quick schemes, as they are volatile and come with high risk. These include making huge bets on games with high odds, like spending thousands of dollars buying scratch-off tickets or pooling hundreds of dollars into lotteries in hopes of coming out on top with a big win. This is a foolish endeavor because statistically the odds are against you. Patience is key; follow the more effective ways to win real money. Read on.
5. You can seek high limits and play high stakes
Start incrementally, and make bets that have the best odds. Below we’ve listed the safest bets and casino games that have lowest house edge. If you are willing to wager on bets that have a higher probability of winning, this is a reliable way to gradually increase your bankroll. As your bankroll increases, you can allot larger portions of it for tables that have higher limits. Land-based casinos have high roller rooms that allow for some mind-blowingly large bets. Although the wagering requirements vary from casino to casino, you need to have some serious credit or cash on hand to be able to play with the whales. We recommend avoiding these.
Seek out table maximums that are within reason. These can be as low as $50 at small casinos in Las Vegas, whereas large casinos can have table limits as high as $10,000. The famed Golden Nugget in downtown Las Vegas for instance permits $15,000 bets, and the legendary Caesars Palace has three tables with bets between $5,000 and $50,000.
Back in the days of Benny Binion, at the famed Binion’s Casino, gamblers could make a one-time bet of any size as long as it was their first bet. The most famous case is that of William Lee Bergstrom, also known as the “phantom gambler”. He placed the largest bet in casino history (at the time) of $777,000 and won (!) in a game of craps. If you think you have what it takes then games like hold’em, baccarat and roulette are your best choice to increase your bankroll rapidly. Unfortunately, with great reward comes great risk. So if you’re willing to bet a large amount, keep in mind that you can encounter bad luck. Choose your tables and bets wisely
6. You must make note of good and bad odds
Let’s look at the bets Planet 7 Online Casino recommends that you make. Remember the lower the house edge, the better your chances of winning. If you want to succeed in increasing your bankroll then you need to make the following bets.
Good casino bets/games (best odds):
- Odds bet (craps) – house edge 0%
- Blackjack – house edge 1%
- Banker bet (baccarat) – house edge 1.06%
- En prison (single zero roulette) – house edge 1.35%
- Don’t pass line (craps) – house edge 1.36%
- Pass line (craps) – house edge 1.41%
- Pai Gow Poker – house edge 2.3%
- Even money bets (roulette) – house edge 2.70%-5.26% (European vs. American)
Bad casino bets/games (worst odds):
- Insurance bet (blackjack) – house edge 7.4%
- Basket bet (roulette) – house edge 7.89%
- Tie bet (baccarat) – house edge 14.36%
- Proposition bets (craps) – house edge 5-17%
- Big Six Wheel – house edge 11-24%
- Live Keno – house edge 25%
- Side bet (Caribbean stud) – house edge ~26%
7. Odds of winning multiple bets in a row (1 in x)
We’ve listed the odds (1 in x) of winning multiple bets in a row for some of the most popular games in a casino with an initial bet of $20. As you can see, the odds become very high the more times you wager your winning amount. However, if you are extremely lucky or are on a winning streak, it will quickly make you a millionaire. Though the odds are not in your favor, it is statistically possible. Just ask Patricia Demauro.
|Wins in a row||Roulette
|Roulette (single zero)||Baccarat
8. You can double your bets
There are table games that will allow you to double your initial bet or even your winnings. Based on how large your initial bet is, you could end up walking away with a whopping payout, and depending on how many times you choose to double your wager your bankroll can rise meteorically. The following are a list of the double bets:
- Double or nothing (video poker) – you double your winnings after a winning hand, and can continue to double if you feel lucky
- Splitting cards (blackjack) – if you double your original bet, and win on both hands, you multiply your original bet amount by 4 times
- Double down (blackjack) – you double your wager if you feel confident that you can win before the dealer reveals their hand
- Even money bets (roulette) – these are the outside bets (red/black, odd/even, high or low numbers)
- Column bets (roulette) – these designated to the three sets of 12 numbers that appear at the end of a number column; payout 2:1
- Odds bet (craps) – This bet generally pays out 2:1, but if you’re lucky you can find tables that will offer this bet at 5:1, 10:1 and even 100:1 odds. It doesn’t increase your chances of winning, but if you lay down a handsome bet at 100:1 odds, you come out with a massive win without increasing your probability of losing. It’s a very good bet!
9. You can turn pro
Professional gambling is a legitimate profession, and many players that have the skills can make a serious living travelling the world attending the various table tournaments to compete for big pots. The most famous of these are poker tournaments. Players like Sam Trickett, Michael Mizrachi and Gus Hansen have taken professional gambling to new heights and can tell you that it is possible to become a millionaire if you have the skill and the mental fortitude to gamble professionally.
Turning pro involves a combination of managing social dynamics, budget, having talent as a player, and betting smart. This applies to all forms of gambling whether it is poker, dice, blackjack or billiards for instance. Turning pro also comes with many benefits. Casinos look forward to players who have the ability to drop large sums of money at their establishments when gambling, and offer incredible incentives for such players; just ask Don Johnson. The casinos simply hope that these guys do not come out on top.
10. You can participate in WSOP
Speaking of tournaments, and if you are a fan of poker, your best bet is the World Series of Poker. Each year, thousands of players gather to participate in the world’s most popular high stakes poker tournament. Last year, the jackpot at the WSOP main event was over $8 million (this number has been exceeding in previous years). The runner-up earned roughly $4.7 million in winnings, and if you placed in the top 9, you would have earned at least $1 million. Not a bad payday.
Granted, winning is not easy. As a player, you go head-to-head against the best poker talent in the world. However, with an average 7,500 entries in the tournament, statistically your odds of winning come out to about 1 in 800. Unfortunately, these odds only apply if you are as equally skilled as your opponents. If you are up against someone like Phil Ivey for instance, your odds become significantly worse.
The good news is that if you put in enough time and effort practicing the intricacies of poker, you can dramatically increase your skills in comparison to the average player. For instance, if you register for a free Planet 7 Online Casino account, you can utilize the free instant play feature to practice.
Pro tip: the buy-in for the WSOP Main Event is $10,000. You can earn this money incrementally by playing popular poker games online at Planet 7 Online Casino.
11. You can count cards in blackjack
If poker isn’t your thing, blackjack is your best bet for how to get rich gambling. No, this is not a “hot to get rich quick” scheme. There are certain advantages to playing a card game like blackjack. For starters, your odds of winning are significantly increased if you are a skilled player. Blackjack combines a combination of skill and luck, and with the perfect strategy, you could end up winning big.
This is where card counting comes in. One of the biggest misconceptions about card counting is that it is illegal, this is not correct. Card counting is simply a form of advantage play, which is legal. It is not however a way of making a lot of money quickly. It takes math, time, and patience, and you can make serious money with it. It does not take a genius to card count efficiently. Anyone can learn it with the right tools. The reason why it is particularly effective in blackjack is that blackjack is the only game in a casino where previous decisions will influence future results.
How to count cards (in blackjack)
To be a formidable force and a good card counter in blackjack, you must master the following rules: basic blackjack strategy, how to count cards effectively, establish a winning bet spread and utilize appropriate playing deviation. Follow these how to steps for blackjack card counting:
Step 1: Assign a value for card sets
The most common card counting system is the “hi-lo system”. Card values are designated as follows: cards 2-6 are given a value of +1 (plus one), cards 7-9 are given a value of 0 (zero), cards 10-Ace are given a value of -1 (minus one). As cards are dealt, you either add/subtract one or do nothing if the value is zero for the given cards to assess the total value of your hand.
Step 2: The running count
Keep a “running count” by adding or subtracting every card that you see in each shoe for both hands. As more cards are dealt, your running count is updated accordingly with a total value. If the running count increases, the advantage will shift in a player’s favor. If the running count goes negative, the advantage shifts to the house.
Step 3: Calculate a true count for multiple decks based on the running count
A “true count” is just another way of saying that you should keep a total value per deck based on the running count. The number of high cards in a deck do not matter as much as the concentration of high cards. The difference between knowing the concentration of high cards for five decks versus one deck is critical and determines the true count. For example, if your running count is 10 and there are 5 decks remaining, the true count is 10÷5 = 2. If your running count is -7 and there are 2 decks remaining, the true count is -7÷2 = -3.5. See Step 2 to utilize the advantages.
Step 4: Bets must change according to the true count
Changing your play or bet strategy is known as the “playing deviation”. In order to capitalize on all of the information you have gained from card counting, you must raise your wager as your true count rises. The key is to bet large (e.g. a unit of twenty instead one) when the cards favor the player. Deviating from basic strategy is performed at mathematically equated intervals, not based on a gut feeling.
12. You can invest in a land-based or online casino
Now it’s time to think outside of the box. If you haven’t made a million yet based on the aforementioned tips, perhaps investing in a land-based or online casino is the way to go. If you’ve established, say, $10,000 in capital, you can earn big if you invest in the casino business. Online casinos are a good choice because statistically the online market is experiencing the largest boom since its inception. Online casinos are the latest rage, and the numbers prove it as more and more players sign up each year to play their favorite online casino games.
13. You can utilize sports betting
When it comes to betting big and having the ability to win real money, the sky is the limit with sports betting. The various types of sports, teams, tournaments, leagues, and matchups are the reason gamblers love to participate in sports betting because it offers so many possibilities. Wagers are based on the performance results for a given team or athlete. If you are a sports nut, you can get an even bigger thrill by betting on your favorite teams!
Below are useful sports betting terms:
Odds: If a team is better than its opponent is, their odds of winning are higher than 50%. You will receive less money when betting on a team that has a higher probability of winning, as the bank does not want to lose money.
Odds systems: the two odds systems are American and European. American odds utilize +/- symbols, whereas European odds use a decimal.
For example, if the odds for a given team to win is 2.0 (using the European system), and you wager $10, you will get $20 in return. Using the American system, the same bet for the same team would be marked as +100; and you would get the same amount in return. Where it gets tricky is the minus numbers (-). In this case, -100 would also give you a total $20 return, but -200 would only give you a $5 profit (or $15 total in return).
This might seem confusing, but to keep track all you need to remember is the higher the odds (e.g. +300), the greater the probability of losing (you receive a higher payout if your selected team wins). If the odds number is lower (e.g. -450) the greater the probability of winning (you receive a lower payout if your selected team wins).
Point spread: this helps balance out the odds of each winning team based on a range of outcomes by adding or subtracting from the total number of points. Wagers are made for whether the outcome of a game will be above or below “the spread” (a given figure). Just like with the American odds system, teams favored to win are marked with a negative point spread (-), and teams favored to lose are marked with a positive point spread (+). The number following the +/- refers to how many points each team should win by. Even if your chosen team loses the game, if the winning team does not match the point spread you still win the bet!
Money line: This refers to “fixed odds” bets where the likely winner and loser is determined before a match-up based on a win or lose scenario.
Pro tip: If you are willing to take a risk you can always bet on the underdog. This offers a much larger payout if your prediction is correct. With a sizeable wager, you can win big!
Granted, sports betting takes some getting used to; it helps to know what teams to bet on for a given sport or league. With a little practice however, you can surely start making steady gains to reach your road to riches!
15. You can play fantasy football
If there is one form of sports betting that has the highest likelihood of bringing you big bucks, it is fantasy football. In the U.S., it is one of the most popular forms of sports betting, and the advantages are greater than betting on the outcome of a single sporting event. If you wish to participate in a fantasy football league, there are online operators that offer membership. Participating however requires an understanding of not only the sport, but of the National Football League (NFL) roster and player stats in detail. Depending on the type of fantasy league that you are involved in (among friends or playing online), you can win serious money if you follow each team closely. Below we list the most relevant pointers:
- Join a league and pick the one that suits you best
- Create a draft board and choose your players to create a team
- Beware of outliers and injuries, and determine your fantasy points based on each win
- Keep track of your players and perform trades when necessary
- Sit back and collect your winnings!
In order to learn how to get rich you need to understand that participating in daily fantasy sports are not the way to go; season-long fantasy football leagues are a better investment. Multiple online season-long tournaments also exist that can offer prizes up to six-figures. If you are knowledgeable about fantasy football and the sport of football in general, this is the best way how to get rich gambling.
16. You must manage your bankroll
This is probably the most easily overlooked aspect of gambling, and the most sensible. Bankroll management is what guarantees your longevity, and will help you maintain your winnings once you start accomplishing consistent wins. It is something anyone can do effectively. Never invest more than you are willing to lose when it comes to casino games. You can accomplish this by setting a loss limit. Once you go over this amount, never chase your losses. It helps if you start small and utilize the 5% rule. Designate 5% of your total gambling budget to betting, and as your wins increase, so will your bankroll and wager amounts.
Calculate your overall win percentage
By calculating your win percentage, you can effectively manage your bankroll. Keep a record of your win-loss ratio for each gambling interval, for instance one week, month or year. This will give you a good idea of what games, dealers, teams or even casinos benefit you the most. It might seem tedious, but objectively, it is the best way to understand your win-loss ratio and catch yourself when you make mistakes. Even instinctive players encourage this system, in order to close any gaps in their game. It is worth the effort because it will ultimately improve your performance, and help you on your way to becoming a gambling millionaire.
Now that you feel confident on how to get rich gambling, we recommend that you head over to Planet 7 Online Casino to utilize these helpful gambling tips and tricks. Planet 7 Online Casino has a fantastic selection of online casino games for you to win real money. Sign up for a free account to utilize the instant play feature (it only takes a matter minutes) or make a real money deposit to show off your skills and take the house. Planet 7 Online Casino also offers incredible bonuses and weekly promotions to make the most out of your online gambling experience. Blast off to the world of Planet 7 Online Casino today!