Earn Money Playing Slots
You can find stories about people gambling for a living. Many people play poker for a living, and it’s easy to see why. Poker doesn’t have a built in house edge; it has what amounts to a seat charge in the form of rake. Poker players aren’t trying to win the house money, they compete for other player’s money. This is different than most other forms of gambling.
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Another way of making money from online casino slots is to get the most out of bonuses. In most cases, online casino websites provide free money, a free spin, or a free play to entice more clients. Typically, these are the regular bonuses you can take advantage of while playing slots and other well-known games. How to make MONEY playing SLOTS!#Slots #Gambling #RealReelThis is the REAL REEL a new vlog series I will be doing on my LADY LUCK HQ Channel. The REAL REEL v.
You can also read about blackjack players that have learned how to count cards or find sloppy dealers that flash the value of down cards. Some of these players are able to play blackjack for a living. A small percentage of sports bettors, horse track bettors, and dog track bettors are also able to make enough money to gamble for a living.
But it’s rare to find people who can gamble for a living who play other casino games. Bob Dancer claims that he was able to play video poker for a living several years back, but even if his claim is true, many things have changed since then. It’s harder to find full pay video poker machines and casinos pay lower comp rates for video poker play.
Of course, there’s nothing wrong with that and I’m not trying to say that he didn’t make money playing. But I don’t know if anyone is making a living playing video poker today. It’s possible, but if there are players doing it, there aren’t very many.
A few authors claim to make money playing craps using dice control. This has always struck me as a way to sell books and training courses, but just like Dancer’s claim in video poker, I suppose a few people can use dice control. Also just like video poker, if people are successful at dice control, there aren’t very many of them.
Games like slots, roulette, baccarat, and other table games don’t have stories about gamblers playing them for a living. Does the lack of stories mean that these games are impossible to beat?
Slots are the most popular form of gambling in casinos. People love to play slots. This brings me to the reason for this article.
The Hard Truth
Before you continue, consider exactly what making a living means. Some people live on $25,000 a year, while others seem to need $50,000 or $100,000 a year. Many factors come into play when determining how much someone needs to live.
Some of the factors include:
- Where you live
- How many people you have to support, like a spouse and children
- How frugal your lifestyle is
- How much debt you have
For the purposes of this article I’m going to use $52,000 a year as the threshold for making a living. This works out to $1,000 a week. You can use any number that you want, but unless you live in an expensive area, most people can survive on this amount.
Another issue that must be considered when you think about playing slots for a living is the lack of health insurance and other benefits. Professional gamblers have to find health care and they don’t get paid time off. Health care is a serious expense for many people and it can be dangerous not to have some type of coverage.
Many young people don’t worry about the lack of health care coverage, but as you get older it often becomes a real concern. If you have to pay for health insurance it can take a big chunk out of your income. Keep this in mind when you determine how much you need to make to play slots for a living.
Earn Money Playing Slots
The hard truth is playing slots for a living is almost impossible unless you’re already wealthy and have enough money that you can afford to lose in the long run. It’s much more likely that you’re going to lose $1,000 a week than win $1,000 week playing slots.
While most slots players lose in the long run, it’s not 100% impossible to play slots for a living. But such a small percentage of players make money that the truth is that you should probably forget the idea.
Each machine is programmed to pay back a certain percentage of every dollar wagers and keep the rest for the casino. These numbers are called different names, but I call them pay back percentage and the house edge.
A slot machine’s pay back percentage is the amount of all bets returned to the player through wins on the machine. If a slot machine has a 95% pay back percentage that means that on average it gives back $95 out of every $100 wagered to the player.
If you consider this from the other angle you get the house edge. When the slot machine pays back $95 out of $100, it keeps the other $5 for profit. In other words, a machine that pays back $95 out of every $100 wagered has a 5% house edge.
When you add the house edge percentage and the pay back percentage together, they always equal 100%. This means that if you know one number you can subtract it from 100 to get the other number.
Earn Real Money Playing Slots
You can use these numbers to predict how much money you should win or lose over a set period of time, based on how much you bet per hour. Because the house edge is in the casino’s favor, it means that if you can’t figure out how to overcome the edge or get lucky, you’re going to lose in the long run.
Most slot machines have a payback percentage between 90 and 98%. This means the house edge is between 2 and 10%. With a house edge, it means that you lose between 2 and 10% of every dollar you run through the machine.
Here’s an example:
- You play on a slot machine that has a 98% pay back percentage, which means it has a 2% house edge. Your bet size is $2 per spin and you make 400 spins per hour. You can figure out your average loss rate, or what you can expect to lose on average per hour, by using this formula.
- Amount bet per spin times spins per hour times the house edge.
- $2 X 400 X 2% = $16
This means that if you play for 10 hours your expected loss is $160. You simply multiply the expected hourly loss times the number of hours you plan to play and you get the average expected loss.
Slots are run by computers, which use a program based on math. These programs, unless the programmers made a mistake, make sure that the underlying math principles always come true. It might take millions of spins, but the programs guarantees that the machine produces the programmed profit percentage for the casino.
The house edge and pay back percentage are long term things. This means that these percentages are realized over a long period of time. In the short term the house edge and pay back percentages vary, sometimes a great deal. But eventually the short term variance evens out and produces the correct results.
Most players can’t, and this is why it’s almost impossible to play slots for a living.
If you still want to try to play slots for a living, the following sections have additional information you need to know. Just keep in mind that even if you use every trick and strategy in your power, you still might lose money in the long run.
Finding the Pay Back Percentage of Slots
You just learned about pay back percentage and the house edge and how these things guarantee the casino a profit. So the next question is how do you find out the house edge and pay back for slot machines?
Most casino games are designed in a way that it’s fairly easy to determine the house edge and pay back percentage, or you can easily find the numbers with a quick internet search. But slots are different. The programs that run the machines have so many variables that unless you have access to the program it’s impossible to determine the house edge and pay back percentage.
Another problem is that some machines offer different pay back percentages from the manufacturer, so each casino can order their machines with the percentage they want. You can find out more about finding slot machine pay back percentages here, but the news isn’t good.
The following sections include everything I know that can help you improve your chances to win. Four of them are strategies that you can put into action yourself, and the other one is based on hope. Sadly, hope isn’t much of a strategy, but it fits in perfectly with how most people gamble. They put their money out and hope to win.
Online Bonuses
Online casinos often offer bonuses for slots players when they make a deposit. You can get 100% or more of your deposit matched with bonus money you can use to play slots. This sounds like a great way to overcome the house edge, and if the money was free it would be.
While bonus money looks like it’s free, when you read the conditions and terms associated with the bonus you find out that it’s not a simple as the casino giving you free money.
Every online slots bonus comes with rules and regulations about how you can use it, what you have to do before you can cash out your money, and if you get to keep any bonus amount when you meet the terms of the offer.
The terms vary from online casino to online casino, so it’s important to read them before you make your deposit. Some bonuses are deducted from your balance when you make a cash out request, while others can be cashed out eventually.
When you accept an online slots bonus you have to meet certain requirements. These are usually called play through requirements. A play through requirement means that you have to play the bonus amount, and sometimes the deposit amount as well, a certain number of times to clear the bonus. The requirement is usually shown as a multiple, like 25X or 50X. This means you have to make wagers totaling 25 times or 50 times the bonus, and sometimes the deposit amount.
Here’s an example:
- You sign up at an online casino that offers a 100% sign up bonus on deposits up to $250. You make a $250 deposit and get a $250 bonus. This gives you a total bankroll of $500. The terms and conditions state that you have to play the deposit and bonus amount 50 times before you can cash out.
- The total of the bonus and your deposit is $500, so you multiply this by 50 to find the total amount you have to bet. 50 X $500 = $25,000, so you have to make $25,000 worth of bets before cashing out. The best can be any size as long as the total amount reaches the limit.
You can use a trick at this point to get an idea of the possibility of clearing the bonus and having money left over. You can multiply the total amount you have to wager times the house edge to find the expected loss.
Using this example, if you play on a slot machine with a 5% house edge, your expected loss is $1,250. This means that usually you’re going to run out of money before you clear the bonus. The only ways to change this are to play on a machine with a lower house edge, or find bonuses that have lower play through requirements.
You also need to make sure you understand the difference between cashable bonuses and the ones that are deducted from your balance. A bonus that can’t be cashed out when you meet the playing requirements makes it unlikely you can beat the house edge.
Here’s an example if you play a slot machine with a 2% house edge, using the same bonus numbers in the last example.
$25,000 X 2% = $500. This means that your expected loss is the same as your total bankroll of $500. Even if you get lucky and don’t lose all $500, the odds of you having more than your deposit of $250 left after clearing the bonus is slim.
You should defiantly use online slots bonuses if you want to play slots. Even a bonus that’s not cashable gives you extra money to gamble with. It also gives you extra chances to hit a big jackpot, which is the only way most slots players have of getting ahead.
Slots Tournaments
Slots tournaments aren’t run at all casinos, but some casino run them from time to time, and a few run them on a regular basis. A slots tournament offers a minimum amount of play for a set entry fee and awards prizes for the top finishers.
Some casinos offer slots tournaments as a reward for a set amount of play and/or connected to their slots club program. If you can earn a free entry into a slots tournament, anything you win helps overcome the house edge on your normal slots play.
When you’re looking for a slots tournament that has an entry fee, you should look for ones that have a guaranteed prize pool. If you can find tournaments that don’t get enough entrants to cover the prize pool you can play with an edge. It won’t greatly improve your chances of finishing in the money, but when the entry fees don’t cover the prize pool it’s profitable to play.
Here’s an example:
- The casino offers a slots tournament with a guaranteed prize pool of $1,000. The entry fee is $10 and they only get 80 people to sign up. If you divide the prize pool by the number of entrants you get the average value of playing.
- In this case, the average is $12.50. Any time the average return for playing is higher than the entry fee you’re playing with an edge.
You still have to finish in the money to win some money, but if you play in enough of these types of situations you come out ahead eventually.
Playing Slots for Comps and Promotions
Every time you play slots you should be earning comps. Sign up for the slots club at your local casino and look for online casinos that have a rewards program. The casinos don’t give back enough in comps to overcome the normal house edge, but every penny you get back in comps helps lower your cost to play.
Casinos also run promotions from time to time. You might be able to find free slots play vouchers and match play coupons in the local paper or on the web site of the casino where you’re planning to ply. Promotions and coupons are a great way offset the built in house edge of the slot machines.
Getting Lucky
I hate to say it, but the only way most people can play slots for a living is to get lucky. If you’re lucky enough to hit a big jackpot sometime in your life, and are smart with the money, you can afford to play slots full time.
The only slot machines I play are the ones that offer either a progressive jackpot or ones that have a set top jackpot prize of $100,000 or higher. I know I can’t overcome the long term house edge without a big win, so I don’t waste my time on machines that can’t make a big deposit into my bank.
Getting lucky isn’t a strategy, but if you don’t put yourself in position where you have the chance to be lucky you don’t even have reason to hope. If you want to play slots for a living focus on slots with big jackpot possibilities.
Progressive Jackpots
The only way to truly play slots with an edge over the house is to play a progressive jackpot slot machine where the top prize has grown so high that it overcomes the edge. The problem with this is the same as I discussed earlier. If you don’t know the house edge you can’t determine how high the progressive jackpot has to climb before it makes the play profitable.
If you don’t know the house edge, simply play the slots that have the highest jackpots. Most casinos, both online and off, have at least one slots game with a jackpot over $1,000,000.
If you can’t find one with a jackpot over $1 million, look for the highest one you can find. A $500,000 jackpot win might not set you up financially for life, but it’s enough to help out quite a bit.
Conclusion
Playing slots for a living is a dream of many gamblers. But the truth is that it’s almost impossible to succeed. The house edge locks in a long term profit for the casinos, so very few people win.
You can use the tips and strategies on this page to give yourself the best chance to overcome the house edge, but if you want to gamble for a living your best bet is to stop playing slots and pick a different game.
Many gamers have asked this common question online: How can I make money playing online slots?
If there is one thing that has ever brought fun and joy simultaneously to one’s life as far as gaming is concerned, it will be the online slot machines.
Apart from having fun, which is usually the first goal, players now want to know how to make some returns from their passion. This is even more fun!!
If you pay close attention as a gamer, you would have noticed that many of the online slots and other casino games are games that have to do with odds and a slice of fortune. Notwithstanding, we will ignore the paramountcy of technique and strategies which can help players win most of the time – reducing the house edge.
Online slots are fun, and very easy to play. They provide you with some real opportunities to make great returns with just tiny bets.
If you want to start making money playing online slots, you have come to the right place. In this unearthing guide, you will learn the important things you need to know to start getting good result – making real cash from these fun-packed slots.
Enjoy the ride!
It’s not as easy as you think
It is crucial to emphasize this again because of its importance to your success.
Many beginners have fallen into this trap, big time hence often forsaking discipline.
Yes, the slot system appears simple on the surface. Yet in reality it is far more than you spinning those reels and just sit back relaxing.
There must be some emotional resilience in place as well, and a good money management method.
Agreeably, learning about the mistakes beginners make is the starting point – very useful.
Also, you need to rely on using some of the best slots to play online in order to increase your chance of winning and claiming your profits.
We will admit that many online slots look great; slots can be so enticing and colorful. Many are designed to give you that soothe feeling - that you will be rolling in lots of cash FAST. Yet we must not rush into judging a book by its cover. This reinforces the danger of just choosing a slot based on its tempting appearance. It is essential to do your research.
A key secret: Have a good bankroll management
A secret advice any professional gambler will give you regarding how you can make money playing online slots is this: have an effective bankroll management method. You won’t escape this. Over and over again, this has been responsible for the big wins on other casino games. It requires lot of discipline to stick to it.
You MUST know the exact amount of cash you want to spend on these slots – in advance. This is often called bankroll. It is very essential that you have a clear picture of how much you will be specifically staking on each spin.
It is therefore important that you first check for the betting range on the online slot machine you want to use. This will help you plan your budget and determine how much to stake on every spin. In this regard, online slots with demo experience can be very helpful in acclimatizing to the working principle (and technique) of that specific online slot. Possibly, some casinos will give you free no-deposit bonuses designated for certain slot games. This is to help you learn the ropes in a zero risk gaming atmosphere without losing real money.
If you go ahead and blindly play a slot your bankroll can’t afford, failure may set in just few minutes you begin playing it. So, ensure that you choose a slot that matches your budget. With this, you will enjoy some hours of blissful game play – lots of fun while the money is gradually piles up.
Remember this, most of the online slots play in a very fast rate as compared to others like the table games. Your bankroll may deplete faster as well. Hence you will always need a good chunk of discipline to know when to stop or continue as well.
Probability and Online Slots
Whenever a spin occur, there are random integration of symbols selected by that slot machine. This often ensures that each of the spin is independent, always, irrespective of previous spins.
There are few factors that determine the probability of you winning a payout. One is the number of reels involved. The number of assigned symbols to the slot game is also a factor. Another is the pattern randomly generated; it aligns with a set of winning symbols.
Don’t worry; you can still always hit a winning combination. Some nuggets can help you make those spins with a more favorable outcome. But know that the probability of ALWAYS winning big from online slots can be largely dependent on the RTP. If you examine the Return to Player percentage, you will know how much to be expecting to get from every wins.
Play Slots with the Smallest Jackpots
If you are looking for a fast return, playing the short term, then you need to play those games with the smallest jackpots. This will always increase your chance of winning. The smaller they are, the easier for you to always walk away with cash.
If you go for those slots with bigger jackpots, it can be hard for you to it. You could even end up losing a bulk of your bankroll. It’s that risky. Be careful and don’t get greedy.
Playing those slots with huge jackpots also take bunch of your time. We are talking about long hours here.
Now you have it. You can make enjoy great returns from playing online slots. Try them today. And don’t forget to make good use of their casino bonuses and cool promotions. With the right game plan, good bankroll management, and discipline, you can make it happen – sooner. Online slots can be really profitable upon the right application. Never rely solely on luck.
Cheers!