Before starting on more risky casino offers, you need to have a good understanding of how casinos work and what risks are involved. We recommend that you read and understand all of our casino tutorials before you put any of your money at risk. Here are the most important points:
- We categorise casino offers by risk. There are a few risk-free offers, but most are low, medium, or high risk.
- If an offer is not risk-free, there is always a chance that you could lose your deposit. You need to be comfortable with this risk before making any deposits.
- Make sure you understand ‘expected value’ (EV). This is the concept that’s the basis for all casino profit making strategies.
- Only complete offers that are positive EV. Use the Quick Cruncher to check.
- You should never risk more than 1% of your total bank on a casino offer. If a casino offer you want to complete has an upper deposit limit that’s higher than 1% of your bank, deposit less than the maximum.
- Don’t expect to take profit from every casino offer you complete. If you consistently complete enough positive EV offers, it’s mathematically almost certain that you will turn a long-term profit, but losing streaks are common.
- Because of the potential for losing streaks, it’s extremely important that you follow the 1% rule above. This will allow you to ride out a losing streak until the law of large numbers starts to bring your results back in line with your expected value (EV).
- Set reasonable limits and never put at risk money that you can’t afford to lose. The law of large numbers plays out over hundreds or thousands of transactions – there’s no guarantee that a losing streak will be immediately followed by a winning streak, so if you can’t afford to lose, don’t gamble.
- Don’t chase losses. If you have sufficient bank, move on to another positive EV offer, but never put cash in to chase a loss and never break the 1% rule. Casino games are never ‘due to pay out’ – all results are always random.