How to Effectively Maximize Profits from Online Crypto Casinos

[l3pox]

~

• Comprehend house edge thru coin toss

Imagine you bet on a coin flip, at less than even odds. No matter your choice of heads or tails, you are going to lose money, in the long run. You are betting on a 50-50 chance but only get paid less than double your money on each coin flip! Depending on how much less you are getting paid, your bankroll will withstand a certain amount of bets.
So, if I’m offering you 1.90 (decimal odds) for each coin flip, your money will end up in my pockets after 200-300 coin flips. That’s how you have been feeding the gambling industry. And that’s what the house edge is all about.

~

I would argue with this, to be honest. From what I know, for the house edge to work properly, you need many millions of bets to be made. In fact, this is the second reason why casinos want a lot of players... The first and main reason is the more players on your platform, the higher your profit, yes, of course that's true. But the second reason why you need a lot of players is to protect yourself from a statistical deviation of such a degree that your funds are emptied. The more players you have, the less the probability of such a deviation.

more players help but the force of time too
at a long enough timeline results will tend to the odds, even if we have outliers

well, at least math says that
sometimes it's different in practice... I remember a guy on my childhood that used to win all kinds of raffles, lotteries and bingos, every damn time. it was impressive.

[serjent05]

~

• Comprehend house edge thru coin toss

Imagine you bet on a coin flip, at less than even odds. No matter your choice of heads or tails, you are going to lose money, in the long run. You are betting on a 50-50 chance but only get paid less than double your money on each coin flip! Depending on how much less you are getting paid, your bankroll will withstand a certain amount of bets.
So, if I’m offering you 1.90 (decimal odds) for each coin flip, your money will end up in my pockets after 200-300 coin flips. That’s how you have been feeding the gambling industry. And that’s what the house edge is all about.

~

I would argue with this, to be honest. From what I know, for the house edge to work properly, you need many millions of bets to be made. In fact, this is the second reason why casinos want a lot of players... The first and main reason is the more players on your platform, the higher your profit, yes, of course that's true. But the second reason why you need a lot of players is to protect yourself from a statistical deviation of such a degree that your funds are emptied. The more players you have, the less the probability of such a deviation.

I think you are confused.  It simply shows how the housed edge work in a visual representation of a coin flip. And your explanation perfectly fits that representation.

I think the most effective way to maximize one's profit in crypto casinos is knowing when to stop- so basically, having the discipline to call it a day and stopping after reaching your profit. The problem with most gamblers is that they tend to be greedy most of the time.

A winning streak does not absolutely mean that the next bet would be in your favor. Just one mistake and loss could result to a continuous losing streak since the normal response of a person after losing a bet is to bet again and recover such loss.

Remember that even by just winning once in a game, you could literally go home and call it a day to enjoy your proceeds on the winning bet!

Perfectly said.  To beat the house, quit while winning, and never come back.  If you do that, there is no way the house can take back your winnings.  

[AmoreJaz]

<....snip....>
Do you have any surefire strategies that works for you which is not in the list above?

I think the most effective way to maximize one's profit in crypto casinos is knowing when to stop- so basically, having the discipline to call it a day and stopping after reaching your profit. The problem with most gamblers is that they tend to be greedy most of the time.

A winning streak does not absolutely mean that the next bet would be in your favor. Just one mistake and loss could result to a continuous losing streak since the normal response of a person after losing a bet is to bet again and recover such loss.

Remember that even by just winning once in a game, you could literally go home and call it a day to enjoy your proceeds on the winning bet!

this is actually one of the common dilemma for most gamblers. chasing after losses. and i can't say, am not guilty of this. but as much as possible, if i know i need the money and i can't afford to lose heavily, i set my limit. if i lose this much, then, time to stop and get out no matter what. but if i still have the time and has a lil bit of allowance in stretching my limit, i will.  so if you are playing the usual casino games, you can only get your profits if you do really know when to stop.
but when it comes to sports betting, definitely, you should only bet on the sports that you are very well familiar of.

[Quidat]

<....snip....>
Do you have any surefire strategies that works for you which is not in the list above?

I think the most effective way to maximize one's profit in crypto casinos is knowing when to stop- so basically, having the discipline to call it a day and stopping after reaching your profit. The problem with most gamblers is that they tend to be greedy most of the time.

A winning streak does not absolutely mean that the next bet would be in your favor. Just one mistake and loss could result to a continuous losing streak since the normal response of a person after losing a bet is to bet again and recover such loss.

Remember that even by just winning once in a game, you could literally go home and call it a day to enjoy your proceeds on the winning bet!

this is actually one of the common dilemma for most gamblers. chasing after losses. and i can't say, am not guilty of this. but as much as possible, if i know i need the money and i can't afford to lose heavily, i set my limit. if i lose this much, then, time to stop and get out no matter what. but if i still have the time and has a lil bit of allowance in stretching my limit, i will.  so if you are playing the usual casino games, you can only get your profits if you do really know when to stop.
but when it comes to sports betting, definitely, you should only bet on the sports that you are very well familiar of.

Dealing with casino games is totally different when you do make yourself deal with sports betting which is really something obvious and this is where preference would really be considered out.
Some do stick with fast pace gamblings and its result without needing to wait that long but there are people who are keen about having good winning or hit chance via sports betting.
Its up to someone  on how they would really be handling out theirselves on certain conditions because not all would really be good on this area.Some could stop and
majority do really goes further ahead until they do bust up everything.

[Pamadar]

<....snip....>
Do you have any surefire strategies that works for you which is not in the list above?

I think the most effective way to maximize one's profit in crypto casinos is knowing when to stop- so basically, having the discipline to call it a day and stopping after reaching your profit. The problem with most gamblers is that they tend to be greedy most of the time.

A winning streak does not absolutely mean that the next bet would be in your favor. Just one mistake and loss could result to a continuous losing streak since the normal response of a person after losing a bet is to bet again and recover such loss.

Remember that even by just winning once in a game, you could literally go home and call it a day to enjoy your proceeds on the winning bet!

this is actually one of the common dilemma for most gamblers. chasing after losses. and i can't say, am not guilty of this. but as much as possible, if i know i need the money and i can't afford to lose heavily, i set my limit. if i lose this much, then, time to stop and get out no matter what. but if i still have the time and has a lil bit of allowance in stretching my limit, i will.  so if you are playing the usual casino games, you can only get your profits if you do really know when to stop.
but when it comes to sports betting, definitely, you should only bet on the sports that you are very well familiar of.

Dealing with casino games is totally different when you do make yourself deal with sports betting which is really something obvious and this is where preference would really be considered out.
Some do stick with fast pace gamblings and its result without needing to wait that long but there are people who are keen about having good winning or hit chance via sports betting.
Its up to someone  on how they would really be handling out theirselves on certain conditions because not all would really be good on this area.Some could stop and
majority do really goes further ahead until they do bust up everything.

Case to case, in terms of types of sports bettors, there are gamblers who focus on games that they are, really

familiar and knows how the team or players works and what advantages they've got, but there are also some gamblers who
Bet randomly. Some are just basing with the odd or whatever reason they are just aiming for a fast pace setup,

Dealing with games that you are well familiar with gives you a good chance to pick the right team to win, not always but a good edge
when placing a bet.

[ipanks]

snip

It would happen if they thought of recovering the losses they had already suffered. If they can think clearly by not using more money to prevent more losses, they will be able to stop themselves from gambling longer. But I don't think there is an effective way to get maximum profit from online crypto gambling because gambling is always about winning and losing. There is no maximum profit if you don't have luck.

[l3pox]

I think the most effective way to maximize one's profit in crypto casinos is knowing when to stop- so basically, having the discipline to call it a day and stopping after reaching your profit. The problem with most gamblers is that they tend to be greedy most of the time.

A winning streak does not absolutely mean that the next bet would be in your favor. Just one mistake and loss could result to a continuous losing streak since the normal response of a person after losing a bet is to bet again and recover such loss.

Remember that even by just winning once in a game, you could literally go home and call it a day to enjoy your proceeds on the winning bet!

Perfectly said.  To beat the house, quit while winning, and never come back.  If you do that, there is no way the house can take back your winnings.  

what if you lose a lot and end up never making it back?

just a joke, I agree that this is probably the best strategy, surf the good luck weave and be happy with what you got, escaping greed.

[wxa7115]

<....snip....>
Do you have any surefire strategies that works for you which is not in the list above?

I think the most effective way to maximize one's profit in crypto casinos is knowing when to stop- so basically, having the discipline to call it a day and stopping after reaching your profit. The problem with most gamblers is that they tend to be greedy most of the time.

A winning streak does not absolutely mean that the next bet would be in your favor. Just one mistake and loss could result to a continuous losing streak since the normal response of a person after losing a bet is to bet again and recover such loss.

Remember that even by just winning once in a game, you could literally go home and call it a day to enjoy your proceeds on the winning bet!

this is actually one of the common dilemma for most gamblers. chasing after losses. and i can't say, am not guilty of this. but as much as possible, if i know i need the money and i can't afford to lose heavily, i set my limit. if i lose this much, then, time to stop and get out no matter what. but if i still have the time and has a lil bit of allowance in stretching my limit, i will.  so if you are playing the usual casino games, you can only get your profits if you do really know when to stop.
but when it comes to sports betting, definitely, you should only bet on the sports that you are very well familiar of.

Chasing after your losses is probably one of the most common mistakes people make not only when they gamble but in a lot of aspects of their lives.

People by nature and nurture put a lot of weight to being right all the time, so when they do not get their expected outcome they get desperate to change it, however this only leads to more mistakes and losses, and if they are incapable of stopping in time the losses accumulated can eventually grow to the point that a recovery is now absolutely impossible, which is why when we lose a little bit of money when we gamble we must simply accept it and move on as quickly as possible to avoid something like this happening to us.

[Betwrong]

~

• Comprehend house edge thru coin toss

Imagine you bet on a coin flip, at less than even odds. No matter your choice of heads or tails, you are going to lose money, in the long run. You are betting on a 50-50 chance but only get paid less than double your money on each coin flip! Depending on how much less you are getting paid, your bankroll will withstand a certain amount of bets.
So, if I’m offering you 1.90 (decimal odds) for each coin flip, your money will end up in my pockets after 200-300 coin flips. That’s how you have been feeding the gambling industry. And that’s what the house edge is all about.

~

I would argue with this, to be honest. From what I know, for the house edge to work properly, you need many millions of bets to be made. In fact, this is the second reason why casinos want a lot of players... The first and main reason is the more players on your platform, the higher your profit, yes, of course that's true. But the second reason why you need a lot of players is to protect yourself from a statistical deviation of such a degree that your funds are emptied. The more players you have, the less the probability of such a deviation.

I think you are confused.  It simply shows how the housed edge work in a visual representation of a coin flip. And your explanation perfectly fits that representation.
~

I don't know, am I? Firstly, it's a huge house edge you mentioned. I personally know no dice game that gives you 1.90 for a "coin flip", or, in other words, for a bet with 50% win chance. It's more like 1.98 in most places. Secondly, even with that enormous house edge, losing all your money within 200-300 rolls is never guaranteed. But I'm not saying that people can quit their job and make money from gambling. I wouldn't recommend that even if the house edge was zero.

[LUCKMCFLY]

Do you have any surefire strategies that works for you which is not in the list above?

No strategy was confirmed while we were at gambling, maybe just managing finances so as not to overdo it when bets.  I think gambling is just for luck, even though we master the games we play, it's not necessarily every time we bet we win. We play with the host, therefore until now, we have not found any strategy in gambling other than financial management.

My strategy to gambling is to quit when I'm losing because I understand that there are no perfect strategy to winning in gambling. The owners of casinos and gambling sites are in for making profit and they won't expose themselves to losing either. So it is a game of luck and when luck run against you the best to do is wait for another day and by that way you are saving your money for a winning day.

That is probably the best gambling strategy as if you are losing then you may be overcome by emotions and make the wrong moves.
Many people try to chase the losses which is an even more bad habit in gambling. If you are losing in gambling, it's better to stop gambling for that day, do some other activity, and come back the next day to try your luck.

It's bet to quit and stop when we're on the losing streak because aiming for more could only make us lose more. That's where gambling addiction usually starts. Putting limits and knowing when to stop is necessary so we could manage our funds right. There are really days that we'll feel unlucky.

For me it is something simple, when I am playing and I win I leave it there, the idea is to add more not to turn around without losing control and bet more than I should, apart from the fact that I have allocated a part of my balance willing to lose, I always play that way, now when it comes to slots if I do my best to play the available balance just for the slots and have fun, in the slots I don't see them as a means to win but to de-stress and currently it's one of my favorite games, it's like that when I was little and paid 1 hour to go play nintendo, the same thing happens with slots but with less time.

[Peanutswar]

<....snip....>
Do you have any surefire strategies that works for you which is not in the list above?

I think the most effective way to maximize one's profit in crypto casinos is knowing when to stop- so basically, having the discipline to call it a day and stopping after reaching your profit. The problem with most gamblers is that they tend to be greedy most of the time.

A winning streak does not absolutely mean that the next bet would be in your favor. Just one mistake and loss could result to a continuous losing streak since the normal response of a person after losing a bet is to bet again and recover such loss.

Remember that even by just winning once in a game, you could literally go home and call it a day to enjoy your proceeds on the winning bet!

this is actually one of the common dilemma for most gamblers. chasing after losses. and i can't say, am not guilty of this. but as much as possible, if i know i need the money and i can't afford to lose heavily, i set my limit. if i lose this much, then, time to stop and get out no matter what. but if i still have the time and has a lil bit of allowance in stretching my limit, i will.  so if you are playing the usual casino games, you can only get your profits if you do really know when to stop.
but when it comes to sports betting, definitely, you should only bet on the sports that you are very well familiar of.

Chasing after your losses is probably one of the most common mistakes people make not only when they gamble but in a lot of aspects of their lives.

People by nature and nurture put a lot of weight to being right all the time, so when they do not get their expected outcome they get desperate to change it, however this only leads to more mistakes and losses, and if they are incapable of stopping in time the losses accumulated can eventually grow to the point that a recovery is now absolutely impossible, which is why when we lose a little bit of money when we gamble we must simply accept it and move on as quickly as possible to avoid something like this happening to us.

It is more ideal to the gambler if there's a specific gambling routine or a plan because it is not ideal if you is just kept plying with a specific target to be not all the time the gambling gives us a good huge amount of profit and mostly there's a lose streak and this is right that the most gambling want to urge back their losses earning. It is good having a set of limit for the amount will use for gambling and make a stop loss and take profit target of earning too by this you can make a different set of games and profit and you will not risk all of your assets.

[Oshosondy]

Maximizing referrals is the best for gambling, because from them we get money to gamble without using personal money. But, to get referrals requires effort.

Also if you are able to invest in a new but legit gambling site, it is also a cool money and you can earn profits from it because gamblers will lose for you to make profit. But referring is also good and no losses, you can even be able to withdraw the money without gambling.

It is good having a set of limit for the amount will use for gambling and make a stop loss and take profit target of earning too by this you can make a different set of games and profit and you will not risk all of your assets.

Stop loss in gambling? Do you actually know what stop loss and take profit is? These are used in trading, not in gambling. In gambling, you can not set stop lose or take profit, you can only either win or lose the match or game that you staked.

Only what is related to stop loss and take profit in gambling is cashout, it happens more in a way the bettor will only want to cashout when losing already and it is more like stop lose.

[l3pox]

Maximizing referrals is the best for gambling, because from them we get money to gamble without using personal money. But, to get referrals requires effort.

Also if you are able to invest in a new but legit gambling site, it is also a cool money and you can earn profits from it because gamblers will lose for you to make profit. But referring is also good and no losses, you can even be able to withdraw the money without gambling.

It is good having a set of limit for the amount will use for gambling and make a stop loss and take profit target of earning too by this you can make a different set of games and profit and you will not risk all of your assets.

Stop loss in gambling? Do you actually know what stop loss and take profit is? These are used in trading, not in gambling. In gambling, you can not set stop lose or take profit, you can only either win or lose the match or game that you staked.

Only what is related to stop loss and take profit in gambling is cashout, it happens more in a way the bettor will only want to cashout when losing already and it is more like stop lose.

exactly Oshosondy
probably the only application of stop loss and take profit on a gambling related scenario would be prediction markets like these futures for elections on ftx or something like that
but still this is much more like trading than like gambling.

[Betwrong]

~

exactly Oshosondy
probably the only application of stop loss and take profit on a gambling related scenario would be prediction markets like these futures for elections on ftx or something like that
but still this is much more like trading than like gambling.

That is so because trading is gambling in a way. You can never be sure about the outcome, you only have probabilities. People who don't understand it, lose a lot in trading. And gamblers that think, I know how to make a bit of money, right? I bet $1k with 98% win chance on dice, and I win 10 bucks easily, right? It's a guaranteed $10 profit, I'll buy myself a beer. And yeah, it works, but only with 98% certainty. And one day ... I mean, it's inevitable, it can happen right away, but it will surely happen one day, and you will lose one thousand USD at once, after risking it for potentially gaining 10 bucks.

[Jawhead999]

That is so because trading is gambling in a way. You can never be sure about the outcome, you only have probabilities. People who don't understand it, lose a lot in trading. And gamblers that think, I know how to make a bit of money, right? I bet $1k with 98% win chance on dice, and I win 10 bucks easily, right? It's a guaranteed $10 profit, I'll buy myself a beer. And yeah, it works, but only with 98% certainty. And one day ... I mean, it's inevitable, it can happen right away, but it will surely happen one day, and you will lose one thousand USD at once, after risking it for potentially gaining 10 bucks.

I ever experienced this one and it's really fucked up considering I only want to earn steady low profit with low risk, but ended to lose all of my big bet after 10-20+ spins. I'd say 50%-70% win chance on dice are better than 98% win chance, there's some people who take bigger risk to bet on 10-20% win chance because it's more satisfy than rather than 1.01x-2.00x. After that, I wouldn't play dice and roll with 98% win chance, I think everyone already experienced this one.

[madnessteat]

~

exactly Oshosondy
probably the only application of stop loss and take profit on a gambling related scenario would be prediction markets like these futures for elections on ftx or something like that
but still this is much more like trading than like gambling.

That is so because trading is gambling in a way. You can never be sure about the outcome, you only have probabilities. People who don't understand it, lose a lot in trading. And gamblers that think, I know how to make a bit of money, right? I bet $1k with 98% win chance on dice, and I win 10 bucks easily, right? It's a guaranteed $10 profit, I'll buy myself a beer. And yeah, it works, but only with 98% certainty. And one day ... I mean, it's inevitable, it can happen right away, but it will surely happen one day, and you will lose one thousand USD at once, after risking it for potentially gaining 10 bucks.

When comparing trading and gambling, an important thing to consider is time. In spot trading, you can sit out a bearish cycle and close a trade at no loss or make a profit. In gambling time is always against you because every game has strictly defined limits. In addition, the increase in the number of games leads to a loss because in the long run the casino has an advantage over the player.

[Pierre 2]

I feel like getting the max out of commissions is possibly the best route you can ever take with online casinos. Loyalty bonuses can seem too low when you first start obviously but over time you become great customer for them. And most of casinos will take care of their loyal customers. On the other hand, eliminating luck and glorifying skill-type of games are better to play.

[Hypnosis00]

Focus on developing your skills, that's the right thing to do.

If we want to be serious about gambling, we should play skilled-based games, otherwise, we will only fail in the long run.
Games with high house edge are only good for fun because you can only rely on your luck to win, but on skilled-based games, you will be able to develop yourself which would make you successful in the long run.

Me, I don't focus a lot on free because I know it will not give a significant amount to me, unless I'm so lucky.

[Smartprofit]

~

exactly Oshosondy
probably the only application of stop loss and take profit on a gambling related scenario would be prediction markets like these futures for elections on ftx or something like that
but still this is much more like trading than like gambling.

That is so because trading is gambling in a way. You can never be sure about the outcome, you only have probabilities. People who don't understand it, lose a lot in trading. And gamblers that think, I know how to make a bit of money, right? I bet $1k with 98% win chance on dice, and I win 10 bucks easily, right? It's a guaranteed $10 profit, I'll buy myself a beer. And yeah, it works, but only with 98% certainty. And one day ... I mean, it's inevitable, it can happen right away, but it will surely happen one day, and you will lose one thousand USD at once, after risking it for potentially gaining 10 bucks.

When comparing trading and gambling, an important thing to consider is time. In spot trading, you can sit out a bearish cycle and close a trade at no loss or make a profit. In gambling time is always against you because every game has strictly defined limits. In addition, the increase in the number of games leads to a loss because in the long run the casino has an advantage over the player.

Yes, gambling is both similar and different from trading. 

Gambling is a bit like trading with leverage (for example, lowering a certain cryptocurrency).  When trading with leverage, luck is very important for you (correct assessment of the cryptocurrency price movement trend).  The time factor is also of great importance... 

It is because of this that I have never traded with leverage and never traded short. 

It's too much like gambling.... 

It is better to just play roulette or dice. 

To win or make a profit, you need to have a competitive advantage over other players.  What is your competitive advantage?  This is the key question.

[wxa7115]

When comparing trading and gambling, an important thing to consider is time. In spot trading, you can sit out a bearish cycle and close a trade at no loss or make a profit. In gambling time is always against you because every game has strictly defined limits. In addition, the increase in the number of games leads to a loss because in the long run the casino has an advantage over the player.

Another important thing to consider is that while there are some aspects which are similar between gambling and trading, in the case of gambling the odds of winning or losing are very explicit and you know them in advance, while when it comes to trading this is not the case.

You could make some inferences about the chances of winning or losing a particular trade if you have backtested your strategy against a lot of markets and you have enough data, but since very few people do this then it is almost impossible to know the real odds of winning a trade with whatever strategy you are using, unlike with what we can see in any gambling game.