7 Worst Ways to Make Gambling Profits

Video poker is unique in that it’s a house-banked game that offers the chance to win long-term profits. But this is rare in gambling when considering that the casino doesn’t like relinquishing its edge. In fact, they throw suspected advantage players out of their establishments.

Just keep in mind that you need to find the “full-pay” version of Deuces Wild. A full-pay game features the best pay table on a certain video poker variation. Having a 0.76% edge on the house compares well to other advantage techniques. For example, skilled card counters have between a 0.5% and 1.5% edge. But the problem with video poker is that your biggest bet will be too small to earn significant profits.

Here’s an example to explain:

• You’re playing Deuces Wild (100.76% RTP).
• You use perfect strategy, giving you a 0.76% edge.
• You play 800 hands per hour.
• Your max bet is $1.25 per hand (five coins).
• 800 x 1.25 x 0.0076 = $7.60 in winnings per hour
• You’re comped on 0.1% of your bets.
• 800 x 1.25 x 0.001 = $1 in comps per hour

Earning $8.60 per hour is fine if you love of gambling as a hobby. After all, who doesn’t love making money doing something they love?

However, you’re not going to make a decent living at this rate. This is especially true in pricey Las Vegas, which is the only reliable place to find full-pay Deuces Wild on a consistent basis. Using the database site vpFREE2.com, you can see that the largest concentration of full-pay Deuces Wild machines is in Vegas.

This brings up another downside in that you must live in or around Sin City to make serious profits through video poker. You may not have a problem with this, especially if you’re looking to move somewhere more exciting than your current location. But you’re not going to relocate for $8.60 an hour if you’re happy with your current city.

2 – Progressive Slot Machines

People lose more money on progressive slot machines than any other game in the casino. What many of these same players don’t realize is that you can actually gain an advantage through the right slots games. Progressive slot machines can offer +EV when their jackpots reach a certain point. The reason why is because a jackpot’s increased value grows to the point it pushes RTP over 100%.

Contrast this to a table game or video poker progressive jackpot, where you do have enough info to calculate this. You can find the fixed odds of blackjack and video poker outcomes, which is why it’s also possible to determine when these games are offering a profitable jackpot opportunity. Given that you won’t know the perfect time to play for a progressive slots jackpot, you merely have to guess.

Here’s an example on how to do this:

• A slot machine’s base payback is 94%.
• The starting jackpot is $10,000.
• The jackpot grows to $150,000.
• You now believe that the game is offering +EV.

It’s possible that you’ll have a long-term edge when playing at this point. Again, though, you can’t really tell.

Another problem with progressive slots advantage play is that it’s a volatile affair. Volatility refers to how likely your short-term results are to meet long-term outcomes. A slot machine is highly unlikely to give you short-term results that are anywhere near the stated payout percentage. Theoretically, a slot with 95% RTP should pay $95 for every $100 wagered.

This brings me to one more point in that the odds of winning a larger progressive prize are astronomical. You’ll have to make tens of millions or even hundreds of millions of spins on average before winning a six or seven-figure jackpot. Even if you go after smaller prizes in the $5,000 to $25,000 range, you still don’t have great odds of winning the top prize. Assuming you don’t hit the jackpot, then your theoretical advantage will go out the window.

A sit and go (SNG) is a single-table online poker tournament that features anywhere from 2-10 players. The top 1-3 finishers will receive a prize depending upon the number of participants. SNGs are already attractive from the viewpoint that you don’t have to wait until a specific time to play. Instead, these single-table tourneys begin as soon as the required number of players registers.

A few years ago, online poker sites rolled out lottery style SNGs to appeal to even more players. Lottery SNGs have been popular among recreational players ever since their inception. A lottery SNG seats three players and requires a standard buy-in. The prize pool is determined by a combination of the buy-ins and a random multiplier.

Here’s a simple example on how this works:

• Three players pay a $10 buy-in.
• The random prize multiplier is 100x.
• 100 x 10 = $1,000 prize pool.
• Winner takes all.

The hope is that your table gets a big multiplier and offers a huge prize pool. But the reality is that you’re far more likely to be playing for small payouts. This creates a lot of volatility since the majority of your winning prospects are wrapped up in the biggest lottery SNG payouts.

Being a skilled player gives you a better chance to win the SNG and earn whatever payout is available. But you also have to rely on a tremendous stroke of luck to win bigger payouts that’ll boost your bankroll and provide profits. This can happen over time if you’re patient enough to wait. However, you can also go the safer route by using your skills to win consistent profits in cash games and/or regular SNGs.

Online casinos, poker sites, and sportsbooks offer deposit bonuses in order to draw new customers. The general idea is that you make a deposit and qualify for a bonus.

Here’s an example:

• A gaming site offers a 100% match bonus up to $100.
• You deposit $50.
• You qualify to earn a $50 bonus.

The great thing about deposit bonuses is that they give you a chance to earn extra money while playing games you already enjoy. The downside, though, is that the terms and conditions are normally skewed in a manner where the house still wins in the long run.

Here’s an example on how this plays out:

• You’re eligible for a $100 bonus.
• Wagering requirements are 40x the bonus.
• 100 x 40 = $4,000 must be wagered to withdraw the bonus
• You play a slot with 96% payback (4% house edge).
• 4,000 x 0.04 = $160 in theoretical losses
• 160 losses – 100 bonus = $60 total loss

Most players wouldn’t expect to lose this much money when unlocking a bonus. But the math shows the harsh realities of the average bonus offer. You can find some opportunities where it’s possible to earn a theoretical profit through your bonus.

Here’s an example on how this works:

• You qualify for a $50 bonus.
• Wagering requirements are 20x the bonus.
• 50 x 20 = $1,000 must be wagered
• You play a slot with 96% payback (4% house edge).
• 1,000 x 0.04 = $40 theoretical losses
• 50 bonus – 40 losses = $10 total profit

It’s nice to take advantage of profitable bonus opportunities. But the roadblock is that it’s really hard to find these deals. I’ve seen some offers where you can earn a theoretical profit at regulated New Jersey online casinos. These casinos are still relatively new and doing whatever they can to entice players.

The only reasonable route would be if you’re already a skilled poker player or sports bettor who can combine your winnings with the bonus. Yet you also have to consider that you only qualify for a welcome bonus once, meaning you’ll have to switch sites to take advantage of these offers.

Ace sequencing is a technique where you track cards from the point when they hit the discard pile to when the dealer shuffles and deals. The goal is to determine when the aces will come out of the shoe, so you know when your chances of getting a natural blackjack (21 on first two cards) are better. You also need to bet more when your odds of getting aces increase to capitalize on your advantage.

Just imagine making $100 bets where your EV is $50. The amount of profits that you can make with this type of advantage is seemingly endless. Everything I’ve discussed makes ace sequencing seem like a dream strategy. But the main drawback is the difficulty in mastering this method.

First off, ace tracking is a lightly used advantage gambling technique. You won’t find many discussions and resources on using it, versus something more common like card counting. Even when you do know how to properly track aces, it’s very difficult to put theory into practice.

Ace sequencing starts with watching discard piles.You need to have such a trained eye that you can monitor aces from the discard tray to when they’re being shuffled into card clumps. You’ll also need to remember the 2-3 cards placed on top of each ace in the discard tray. These anchor cards signal when an ace will be coming out.