It was inevitable that as the Internet wove its way into our lives opportunities for online gambling would crop up. They have and it is a multi-billion dollar industry. Recently the issue of betting online with fantasy sports leagues has made the headlines with several popular sites being shuttered because of the restrictions with online gambling in certain states. The jury is still out as to whether or not fantasy leagues are considered a form of gambling or a game of skill.
As the hunt for revenue goes on, many states are looking at opening up opportunities for online gaming. That would mean ushering in regulations and, most importantly, collecting tax revenue. The fact remains that online gambling is a very popular pastime. Can you create a money making career out of online gambling? To answer that it might be helpful to breakdown the basics.
Online Gambling 101
If you’ve ever been to a licensed casino than you would be familiar with online gambling. Essentially, you have the opportunity to play all the same games from the comfort of your home. Less smoke but no free drinks! Online gambling can be strictly for fun. In other words, you can use a kind of “play money.” It’s not real and you can’t cash out.
On the other hand, many legitimate sites allow you to make a deposit into a gaming account and draw funds to play various games. Many of these sites are state centric and operated by the licensed casinos in those states. In other words, you would have to be in that state to gamble and win money.
Best Online Games to Win At
Deciding which online game would be your best bet is the same type of decision-making process you would go through in Vegas. There are certain games that offer huge payouts but also have the highest odds against winning. Roulette is a perfect example. Other games like blackjack and poker have lower odds but can offer more consistent winning potential.
Online poker is extremely popular. You can join games of draw, stud or Texas Hold ‘Em. Of course, you have to know how to play the games before joining a table. Everyone shares the same disadvantage in that you don’t have the ability to look a fellow player in the eye to judge if they are bluffing. There are certain sites that allow for instant chatting/messaging but you can’t really pick up a “tell” from a text.
You can break it all down to picking between games of chance or games of skill. With either choice, you still would have to factor in “luck.” That is a very hard way to determine your earning potential. Most online gaming sites let you practice your game of choice to see if you understand how it all works. It might help to build up your confidence with the play money before you start using your real cash.
The House Always Wins
The gambling adage “The house always wins” holds true in online gambling as well. You’ll be paying a small “cut” of your bets and withdrawals back to the gambling site you’re playing on. These sites can only stay in business if they can promote winners. That means you can indeed make money with online gambling but with the exact same risks you would take if you walked into a casino.
The best approach to take is to online gambling is to bet with money you can afford to lose. If you come out a winner, then cash out early! In between, you could have a lot of fun making bets and playing the odds.