If you are someone that enjoys online gambling but is looking to take things to the next level, you would be wise to take note of the strategies outlined below. The tips here are basic, and more advanced strategy guides do exist. So consider this an introduction to simple betting strategies.
Risk Versus Reward
Perhaps the most important aspect of gambling that beginners don’t grasp is risk versus reward. Sure, everyone imagines winning a mega jackpot, but that is unlikely. More to the elang win winning big means betting big, unless you happen to land an online pokies progressive jackpot. Strategic gamblers know that betting small but betting smart is the key to success.
But what is betting big, and what is betting small? It depends on how much you have to spend. A good metric to work by is in percentages of your total bankroll. If you have $100 total to spend, your bets should be no more than 2%. So in this case a wise bet would be no more than $2. The same should apply if you have $1,000 to spend.
Remember; risk versus reward is a long term game. It is fun to bet big, but betting big also means losing big.
Understanding Odds
Now that you know how much to bet, it’s time to understand odds and the house edge. Every gambling game has a house edge, otherwise known as the percentage that the house will always win. Online casinos have to make money, and thus build a failsafe percentage into their games.
In Roulette you will notice that the 0 pocket, assuming the European version, isn’t included in any of the group betting options. There is also a 00 pocket in American Roulette. Either way, when 0 hits it is all but guaranteed that every bet will lose. But what does that mean for the odds of winning?
Most beginners assume that the odds of red or black hitting are 50%. This isn’t true, given that 0 is neither red nor black. The odds of red or black hitting are, in fact, 48.6%, again assuming the European version. So the 1.4% is the house edge. It is because of this house edge that betting strategies are so important, ultimately allowing you to come out on top even against additional risk.
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