Make Money Blackjack Reddit
Posted : admin On 4/11/2022So, I am trying to conquer Online. Plus, I am finding I can make more money, because I can play a lot more hands, online than at a table with a 6:5 blackjack. I also limit my playing daily to keep myself fresh and the pacing seems to make more sense. I also play in increments of 10 units of win or a wipeout. And take a break. Similarly, never take even money when you get blackjack. If you’re dealt blackjack and the dealer is showing an ace, you’ll be offered an even money payout in case the dealer has blackjack. For example, if you bet $10, if you take even money you’ll win $10 instead of the $15 for a 3:2 payout.
Almost every online casino has some sort of welcome bonus to help try and persuade you to sign up and use their website rather than their competitors. With a little bit of thought and cleverness, we can take these new-player casino bonuses and convert them into withdrawable cash.
The hourly wages for casino dealers don’t vary based on the game, either. Blackjack dealers make the same kind of money as baccarat dealers, who make the same kind of money as poker dealers or roulette dealers (or croupiers, as they’re called). The starting pay for an average casino dealer is between $8 and $10 per hour. I've played lots of blackjack when I played poker for a living, but the most relevant is that I used to 'bonus whore' online casinos through blackjack so I know the math very well behind it. I was able to make money online because they give you house money on top of what you buy in with - essentially you buy in for $1000 and they give you. Sep 06, 2008 Everything you wrote here is a lie. Number one: blackjack is not a type of poker. Blackjack is blackjack and poker is poker. They are both great games IMO but they are not the same. Number two: 'You can make a lot of money with these games' and 'you can earn higher profits easily.' In online gambling, you are far more likely to lose than.
But before we delve into casino bonuses, let’s talk about sportsbook bonuses. Making money from them is known as matched betting and is pretty easy and may be where you started off?
But right now because of the COVID-19 coronavirus most sports aren’t running so there aren’t that many matched betting offers available. But to try and keep customers casinos are offering better bonuses than normal. Now is a great time to try some casino bonus bagging – especially as we all need to make some more money!
Contents
Unlike Matched Betting, Casino Bonus Bagging Isn’t Risk Free
Unlike matched betting, making money from casino bonuses is not risk-free. But that doesn’t mean that they can’t be profitable and worth doing.
We call this notion EV (expected value). By using maths we can work out how much money we will make on average from the bonus. So why is that not risk-free? Because of variance. Each time we make a slightly different amount, but over the long term it averages to the EV.
If you understand what I mean then feel free to skip straight to the how casino bonuses work section.
Note: this can get quite complicated. If you want someone to explain it to you one-to-one then Oddsmonkey have an onboarding coach who will hold your hand when you sign up to their £17.99 a month service.
The Maths – How Casinos Make Money
Let’s say that we are playing a game of flip the coin, and because we’re fun people we’re also betting on it.
If we bet £1 a throw.
- I win £1 and you lose £1 if the coin comes up heads.
- You win £1 and I lose £1 if the coin comes up tails.
That is what we call a fair game.
There is risk – we could play 100 flips and I might lose money, or I might win money. But either way, it is just down to luck. Statistically, I am not more likely to win than to lose.
There is a 50% chance of me winning each throw, and a 50% chance of me losing each throw.
That is not what it is like in a casino. The casino has an edge.
Let’s change the rules slightly:
- I win £1 and you lose £1 if the coin comes up heads.
- You win £1.10 and I lose £1.10 if the coin comes up tails.
That is not a fair a game.
There is still risk – we could play 100 flips and I might make money. But I am more likely to lose.
On each coin toss I expect to lose 5p. We use this word “expect” a lot when it comes to making money from casino bonuses. It means the average in the long-term.
Here is a very simple tree showing you how we worked out that expected loss of 5p.
(0.5 x £1) + (0.5 x -£1.10) = -£0.05
That number becomes what is called the house edge. For every £1 we bet we expect to lose 5p.
If we play 1,000 flips, I will have bet £1,000 and expect to lose £50 (1,000 x 5p).
The More We Play The Closer To Expected We Get
Now we get a bit more complicated. The longer I play, the more likely I am to lose money.
I am not going to explain the maths here (email me if you want to know), but over 1 coin flip my chance of walking away with a profit is 50%. The coin can either come up heads or tails.
Over 100 coin flips my chance of making a profit has dropped to 31.7%, that’s almost a 1/3rd chance which still is quite high. I might decide that I’m feeling especially lucky and take that 1/3rd chance. But over 6,000 coin flips my chance of leaving with a profit drops only 1%.
That is how a casino makes money. If there are 60 people playing at your casino and each plays the coin flip game 100 times, then each person has a 31.7% chance of leaving with a profit. But as the casino is playing 6,000 total flips it only has a 1% chance of not making a profit overall. A pretty clever business model.
What Are The House Edges Of Different Casino Games?
Now you can’t actually play our coin flip game in a casino so let’s apply this concept to two real casino games.
Roulette. Is a very basic game which almost everyone understands.
There are 36 numbers not including the zero. Of those 36 – 18 are red and 18 are black. The number zero is not red or black. Each time the wheel spins there is an equal chance that the ball will land on any of the numbers 0 – 36.
If you bet on red and it comes up, you win your stake back. So a £1 bet would win £1.
There is an 18 out of 37 chance of a red colour coming up. That means that you have a 48.6% chance of winning, and a 51.4% chance of losing.
Let’s draw that same tree we did earlier but this time for roulette:
(0.486 x £1) + (0.514 x -£1) = -£0.028
For ever £1 bet we expect to lose 2.8p. That’s the house edge.
That’s pretty low. But roulette is not the casino game with the lowest house edge. That award goes to….
Blackjack. Forget card counting or anything you’ve seen in the films, your basic blackjack is the casino game with the smallest house edge.
There are many different rule sets for blackjack, and the house edge depends both on those rules and also on how close to perfect strategy the player is playing. But most games of blackjack have a house edge of about 0.5p per £1 bet (0.5%).
Let’s just think about that, 0.5%. That’s so low! It’s the equivalent of playing the coin flip game with the rules:
- I win £1 and you lose £1 if the coin comes up heads.
- You win £1.01 and I lose £1.01 if the coin comes up tails.
If we played 1,000 hands of blackjack at £1 a bet, we would have staked £1,000 and expect to lose just £5.
How Casino Bonuses Work
Thank you for sitting through all of that. Now that the basics are out the way let’s talk about the juicy stuff. How we can actually make some money from casino bonuses.
Just like with matched betting, most casinos offer new players an incentive to sign up and play at their casino.
Unfortunately, unlike with matched betting, there is no way we can hedge out our bets. But we can use this knowledge of the house edge to turn things in our favour. Provided the bonus is good, we can expect to make money.
Let’s take a look at one bonus that is currently offered by William Hill on their live casino.
To get the bonus, we need to deposit £25 and then place a series of bets that total at least £200. When we have reached that target and we contact customer service, a bonus of £25 will be added which we are then free to withdraw along with whatever is left of our initial deposit.
How We Make Money From Casino Bonuses
£200 sounds like a lot, but after what we’ve learnt about house edges and blackjack it shouldn’t sound so bad. Remember blackjack has a house edge of 0.5%.
Over £200 staked we expect to lose only £1. That means we expect to keep £24 of the bonus!
This is what we expect to happen.
- We deposit £25 into William Hill Live casino.
- We place 200 £1 bets. At the end, we have lost £1 and have £24 left.
- A £25 bonus is added to our balance.
- We withdraw our balance of £49 (£24+£25).
- We have made a profit of £24.
But, there is risk.
There is a chance we will lose more than just £1. There is even a chance of us losing more money than the bonus is worth. If we use up all of that £25 we would need to deposit more in order to finish the staking.
We won’t go into the maths on variance. But understand this. Blackjack has a house edge of 0.5% and a standard deviation of 1.15.
That means that at a £1 bet size there is a 95% chance we will make somewhere between £7.75 and £40.25. But it also means there is a 7% chance of making a small loss.
That is the essence of making money from casino bonuses. You are simply moving the odds to your favour.
Websites like Oddsmonkey and Profit Accumulator (more on them later) have calculators for working out your variance and house edge from different casino games. They also have strategy calculators to help you play the games optimally.
Whew. So after all that explaining, the actual steps were very simple.
But we had to go into all that details because it will enable you to look at more advanced offers and take advantage of them as well. Every casino bonus has different terms and you need to be able to work out what strategy to follow to get the highest ‘expected profit’ or ev from the bonus.
Which brings us on to the hardest part of making money from casino bonuses.
Where To Find The Best Casino Bonuses
You can only do that William Hill Live casino offer once, so to continue making money you need to find some more offers.
Make Money Blackjack Reddit Money
And the unfortunate truth is for more casino bonuses it is not profitable to make money from them. You need to find the diamonds in the rough.
You can do this in exactly the same way as you would when sports matched betting. And in fact, if you have done matched betting before you will probably already know the following two choices:
- Look through casino terms and conditions manually.
95% of people pay for a service. Compared to the EV you can make the services are cheap, they give you a curated list of offers to work through, and they point out any dangerous loopholes in the terms and conditions.
My two favourite paid for services for casino bonuses are:
- Profit Accumulator. Free for your first few bonuses, then £19.99 a month.
- Oddsmonkey. Free for your first few bonuses, £19.99 a month.
Nowadays they are both pretty similar with largely the same offers but different communities, website feel and customer service. They each have free accounts you can try out so I suggest signing up to both and then choosing which one you like the most.
Note: this can get quite complicated. If you want someone to explain it to you one-to-one then Oddsmonkey have an onboarding coach who will hold your hand when you sign up to their £19.99 a month service.
There Are Lots Of Different Types Of Casino Bonuses
Wow what a beast of a post!
Let’s just finish on saying that there are lots of different types of casino bonuses and all have slightly different best ways to exploit them.
By now you should understand the concept of expectedvalue and therefore making money from casino bonuses. You have a guide to tackle your first bonus and you have plenty of resources to help you research and find new offers. Good luck!
USEFUL LINKS
Make Money Blackjack Reddit Online
- More details on casino wagering requirements.
- My summer betting diary where I made £250 a week throughout the summer holidays.
FAQ
What happens if I lose all of the £25 before completing the wagering requirement??
This is a very real risk and is also the reason why there is a chance of losing a small amount of money while completing the wagering requirement.
What you need to do is to deposit more money and finish the betting.
I hear people talking about ‘sticky’ bonuses or doubling up. What does that mean?
You should really join a forum and start asking people there. You are getting into some quite complicated areas with the potential to lose some large amounts of money if you make a mistake.
But in short: A sticky bonus is one that you can never withdraw. You can only withdraw the winnings. This means that the tactics we spoke about earlier don’t work. Doubling up is a technique to make money from them. You basically bet the whole bonus on red on roulette. If the bet wins you withdraw the winnings. If you lose you’ve lost the bonus which you couldn’t withdraw anyway.
What are the house odds of some other casino games?
- Baccarat – 1.06%
- 3-card Poker – 2.01%
- Craps – 0.34%
- French Roulette (you get 50% of your stake back if it lands on 0) – 1.35%
- American Roulette (two 0s) – 5.26%
- Slots – 3-10%. Average is about 5%.
Can I card count online blackjack?
No, you cannot. Card counting relies on the contents of the remaining cards changing as the rounds go on. In online blackjack the cards are shuffled every hand so the contents don’t change. You can do it with live blackjack – but I believe they shuffle regularly to make it more difficult. I have never tried.
I have a question that is not answered here?
Drop me an email at hello@sampriestley.com and I will do my best to get back to you.
Can you make money from casino bonuses while self-isolating or under quarantine?
Yes you can! It is actually a very good time to do it because you can do every step of the offer from your home.
We promise - this isn’t clickbait. We’ve done the nitty gritty research and below is a real list of apps that pay money to your PayPal account.
If you’ve got some extra time to spare, you can make money with apps for doing something as simple as turning off your lights.
These apps are legit and they make payments directly to your PayPal account. You don’t have to exchange points for coupons or other rewards you’ll likely never use. This is a list that gives you the good stuff: money to spend on the things you want to spend it on.
Let’s get started, beginning with our favorite one.
#1 OhmConnect
Here’s a money making app that doesn’t make you watch boring ads or waste any of your time.
OhmConnect lets you save energy and earn money at the same time. Before signing up for the service, you must be registered with any of the following electricity companies:
- Pacific Gas & Electric Company (PG&E)
- San Diego Gas & Electric (SDG&E)
- Southern California, Edison (SCE)
If you are with one of those companies, you can sign up and start earning points that can be converted into a PayPal payment. The points you earn will depend on how much energy you save during peak periods and you can hundreds of dollars per year.
Try it. It only takes 3 easy steps to get start:
Step 1. Go to OhmConnect.com and connect your utility account
Step 2. Save energy during #OhmHours (they'll notify you when one is coming by sending you an email or SMS)
Step 3. Send money to your PayPal
#2- Ibotta [US ONLY]
Ibotta is an app that pays you for shopping. If you buy your groceries or beauty products online, you can choose from a select number of items listed in the app.
After you make a purchase of those items, you’ll have to upload your receipt. Afterward, you’ll receive a rebate that ranges from $0.25 to $3 (or more). You’ll be able to get payment to your PayPal account after you’ve accumulated $20. When you submit your payout, you should receive your cash in just a few minutes.
Download Ibotta - iOS Android Web
Other Apps that Pay to Shop:
#3 - Receipt Hog:iOS Android Web
#4 - ShopKick:iOS Android Web
#5 - Mobee App:iOS Android Web
#6 - CashPirate
If you enjoy playing games, completing surveys, or watching videos, CashPirate is a money making app you may want to check out. You can choose which money making options you like best and earn extra cash whenever you have the time.
If you invite your friends to join, you can get an additional 10% bonus from their earnings. When your friends refer another friend, you’ll get 5% more.
For every 1000 coins, you earn $1. You must earn at least 2500 coins before you’ll be able to cash out and send money to your PayPal account. You can expect to earn 50 coins for downloading an app.
Download CashPirate - iOS Android Web
Money Making Apps Similar to CashPirate:
#7 - AppKarma: iOS (Invitation Only) Android Web
#8 - Make Money:iOS Android
#9 - Panel App:iOS Android Web
#10 - FeaturePoints:iOS Android Web
#11 - SwagBucks
If you enjoy taking surveys, you can earn as much money as you can answer with SwagBucks.
SwagBucks is one of the top known money making apps that actually pays users through PayPal. They have endless surveys to take and you can also earn money by playing games, shopping online, weekly contests and more.
You don’t have to cash out through PayPal, you could also accept some of their other rewards with Amazon or another gift card to a location of your choice.
Download SwagBucks - iOS Android Web
Survey Taking Apps That Pay Similar to SwagBucks:
#12 - GlobalTestMarket:Web
#13 - PaidViewPoint:Web
#14 - InstaGC:Web
#15 - Toluna:iOS Android Web
#16 - CashCrate:iOS Android Web
#17 - SlideJoy
Get paid just for locking your screen. SlideJoy is an app that pays you to place ads or news on your screen. It’s one of the most simple ways to get paid and you can even choose to see trending news tailored to your interest.
Download SlideJoy - Android Web
Apps that Pay like SlideJoy:
#18 - Fronto:Android Web
#19 - AppTrailers
AppTrailers lets you get paid for watching videos and you can put real money into your PayPal account.
Whenever you watch videos Google play or any other web based browser, you’ll get rewarded. You’ll be watching ads and you may you be participating in market research from Nielson’s TV Rating. You can learn more about this in their privacy policy.
Download AppTrailers - iOS Android Web
Get Paid with Apps Similar to AppTrailers:
#20 - Viggle: iOS Android Web
#21 - SwagBucks Watch (TV): Android Web
A Word of Caution About Apps That Pay
When you’re downloading unfamiliar apps that pay, be sure that you trust the source. The list above was carefully selected, however not all that claim to give you free money live up to their claim.
We’ve written an article that should serve as a fair warning about downloading apps on your phone and what precautions you should take.
The most important thing is to protect yourself and use your time effectively when making money with apps on your phone.