Gambling is a highly appealing pastime that entertains hundreds of millions of people a year. However, as every successful gambler will know, it does take a little bit of strategy to actually stand a chance of being successful as a gambler.
There are few things to take into account before you start gambling that will really help to increase the likelihood of success. When you add cryptocurrencies like Bitcoin into the mix, there are even more precautions to consider. Things like careful bankroll management, investigating RTP, finding the right platform, and even developing a good strategy will all give you the edge you’re looking for.
Choosing the Right Platform
This is probably the most important aspect of gambling with Bitcoin, as it can make all the difference in terms of your experience while playing. First, and most obviously, you’ll want to find a casino where Bitcoin’s accepted. It’s important to note that all are not equal in this regard, so be sure to spend a while shopping around to find the best possible one that suits your needs.
You’ll want to look for things like the cheapest possible fees in terms of deposits and withdrawals, the right selection of games that you’re interested in, and what the RTP is on these games (but we’ll discuss this in more detail a little later).
It’s important to remember that most casinos will let you play around on their games without depositing any cash first, to get a feel for how the games work and what their success rates are like i.e. how often do you actually win on them. It’s really important to do this kind of research before starting as one of the most amateur mistakes one can make is to simply jump into the first casino you find without making sure it suits your needs.
Good Bankroll Management
Good bankroll management doesn’t only apply to gambling, but rather to life in general. If you take a look at some of the most successful people on the planet, they follow similar principles in terms of how they live, spend their money, and ultimately save. If you’re super rich, it still pays to be careful with your money, and while they might have a bigger bankroll to manage than us, it’s still the management aspect that counts.
When it comes to gambling, this becomes even more crucial. Firstly, it’s important to make sure that you’re never using important life savings to gamble with. It should always be done with a small amount of disposable income that you can safely risk without having any serious impact on your overall financial well-being. On top of that, you should always set aside a fixed amount that you can gamble with in a month and stick to it. Once you’ve spent all that money, you just have to face the facts and fold rather than trying to take more out of your bank account, as this is where it gets risky.
Even the pros have strict rules like this, and some will even set a percentage of their bankroll that they’re willing to lose and call it quits once that limit is hit, rather than risking any more than they need to. There’s no shame in setting strict rules on your bankroll and in fact, it is the mark of a true professional.
RTP and a Good Strategy
It’s important to investigate the various games’ odds before playing them. All the pros work out these calculations first and stick to games with a high RTP (Return To Player). This basically means games where you stand a better chance of winning have a higher RTP.
Now, all casinos are required by law to have a certain range of RTP on their games, or they’re shut down. So be sure to stick to reputable brands, as they’re more likely to honor these rules, rather than dodgier ones that might try to rig the system.
You’ll want to try and look at games that have an average RTP of well over 90% as this means that there’s essentially a 90% or greater chance of you winning per play of the game. If you find that you’re not making consistent or frequent enough winnings to justify playing the game, move on. There’s no point in spending your entire bankroll chasing a jackpot on a game that’s not paying out. A lot of amateurs believe that this is the key to winning big, but it’s not true, as gambling is all about probabilities, and while more bets mean more chances of winning, a low RTP likely means you’re just wasting your time against stacked odds.
It’s crucial to incorporate RTP into your gambling strategy. Stick to games that have a high RTP, learn all the rules of the games, calculate the odds of winning, and spend time playing the games with free credits to really get a feel for how they work before using real crypto on them. No one became a pro-gambler overnight, and even though you might not be thinking of going pro, applying the same principles and values that they do to your game will make gambling a lot more enjoyable.
Getting better at gambling is usually never a case of overnight success, and generally it takes years to master a good strategy. So don’t give up if you’re struggling at first. Revise your strategy, search around for good value games, and manage your bankroll carefully. You’ll likely get the hang of it in no time.