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Make money in online casinos
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Lot of site advertise or sell technique about making money in online casinos. The most of them offer $100 - $300 dollars per day without any work, or risk. This sounds very good, but it can't work, because if it's work then all of the casinos have already went to bankrupt and nobody work becouse everyvody can earn enough money in ontline casinos.
The things that they are write is true, but they miss out an important part of the game, which is the limit. Most of the sites suggest a techniques which called "Martingale betting system". This system said that, you have to double your bet if you lose, but what can you do if you have to double your bet, but you reached the maximum bet in the casino or you haven't got enough money for it. The probability of this case is low, but if you want to earn money, than you have to play a lot of time, so it can be expectable and if it occurs, than you lose more money, than you win until that.
Here is an example of your earnings (losses) after a million row (a row mean that you start playing from $1 until you win, or you reached the limit of the casino.
| Casino limit | Lost rows | Losses due to limit reaches | Wined rows | Winning due to wins | Sum of loses and winning |
|---|---|---|---|---|---|
| $100 | 9416 | $1,195,823 | 990,584 | $990,584 | $-205,239 |
| $300 | 4835 | $1,232,978 | 995,165 | $995,165 | $-237,813 |
| $500 | 2483 | $1,268,784 | 997,517 | $997,517 | $-271,267 |
| $1000 | 1275 | $1,304,351 | 998,725 | $998,725 | $-305,626 |
| $2000 | 655 | $1,340,258 | 999,345 | $999,345 | $-340,913 |
As seems from the table which calculated to a million row in the classical roulette game, you lose a big amount, and the big limit isn't help you to win money as it's thought, because it decrease the number of the lost rows, but it also increase the losses per lost row.
The most of the sites which advertise this incorrect technique suggest the roulette game to use the techniques, so here the odds also given to the classical roulette (European, Roulette-Pro) game. In the classical roulette game if you bet a color than you bet 18 numbers out of 37 so you win in the 18/37=48.6% of the cases and lose in the 19/37=51.4% of the cases. The following table show your winning if you do the given strategy depends on the limit of the casino.
| Casino limit | Odds of losing | Loss in one case | Profit in one case |
|---|---|---|---|
| $100 | 0.94% | $127 | $1 |
| $300 | 0.48% | $255 | $1 |
| $500 | 0.25% | $511 | $1 |
| $1000 | 0.13% | $1023 | $1 |
| $2000 | 0.07% | $2047 | $1 |
As seems from the table, which calculated from the probability of the certain cases, if the limit is bigger, then you lost less time, but if you lose you lose a big amount. The sites which advertise the technique of earning money with online casinos said that the odds of losing is enough small to neglect them, but the loss in a lost game is much bigger than the profit in a won game, so it can't be neglect.
Here I calculated the expected winnings (losses) of one row form the odds which are described above whit $1 starting bet, and with continuing until you dont't reach the casino limit.
| Casino limit | Expected winnings for one row | Expected winnings for 1000 rows |
|---|---|---|
| One bet, not in row | $-0.027 | $-27 |
| $100 | $-0.205 | $-205 |
| $300 | $-0.237 | $-237 |
| $500 | $-0.271 | $-271 |
| $1000 | $-0.305 | $-305 |
| $2000 | $-0.340 | $-340 |
As seems from the table which calculated from the above information, you always lose in long term, and you will lost much more if you play with the advertised techniques than you play after your mind and making random bets.
All in all playing online casino games can be fun, but usually you can't win money, so it can't be the source of living. Probably the big casinos pay for that advertisements to advertise themselves, and some web site try to sell e-books which describe the techniques of earning money in online casinos, but this is a gimmick only for the casinos and for the web sites also.
