Updated: May 26, 2023
How to Get a Profit from Bitcoin Gambling
We might be stating the obvious here, but we’re going to say it regardless — gambling is a risky business. Despite that, millions of us visit Bitcoin casinos regularly, knowing we might spend the entire gaming session with nothing to show for it.
So, why do we still do it, even with the odds stacked against us? Well, it’s rather simple; gambling is exciting! Besides, who doesn’t like beating the odds?
For most of us, gambling is all about having fun. But you know what? It doesn’t hurt one bit to make a profit while enjoying your favorite leisure activity.
The best part is that making a profit from Bitcoin gambling is not even all that difficult to do, as some players make it seem to be, we promise!
In fact, what if we told you that you can have fun and make a profit at the same time?
To stay true to our word, we’ve prepared several tips and tricks that will teach you how to make a profit at Bitcoin gambling sites.
We’ll also show you how to:
- Play smart
- Minimize your losses
- Take advantage of casino and game features
Still here? Great — let’s dig right in!
Tip 1: Practice Bankroll Management
Bankroll management is the bread and butter for professional casino players.
It is one of the simplest yet most effective strategies you can easily implement in your routine, which is guaranteed to help you make a profit when gambling with Bitcoin, or any other currency, for that matter.
So, what exactly is bankroll management and how does it work?
Simply put, bankroll management is a long-term gambling strategy designed to minimize your losses, help you stay in the game longer, and make a profit.
Even though bankroll management is most often used among poker players, you can practice bankroll management whenever you are playing any casino game. Moreover, you can use this strategy even when you are betting on sports.
The term bankroll refers to the amount of money you set aside for gambling each month or even each week, whereas bankroll management is simply how you manage said money.
To effectively manage your bankroll, the first step is to determine the size of your bankroll. The amount varies from one person to another. It can be $50, $700, or even $10,000 and it mostly depends on your financial situation.
The size of your bankroll also depends on how frequently you gamble and what type of casino games you play, so make sure to consider all those aspects when you are deciding the size of your bankroll.
The next step is to choose a unit size, which is to determine what percentage of your bankroll you will bet with each wager. Once again, your unit size depends on your financial situation, how frequently you bet, your play style, and much more.
For novice players, we recommend a unit size of 1% to 2% of your total bankroll, while more experienced players can wager up to 3% of their bankroll.
If you are confident in your (poker) skills or you simply like playing aggressively, you can even consider a unit size of 4-5% of your bankroll.
Once you decide your unit size, simply stick to your guns and make sure you are always betting a single unit per every wager, regardless of your emotion, gut feeling, or a winner’s high.
Your ability to make a profit depends on whether you have money to wager, and the idea behind bankroll management is to help you survive a streak of bad beats and keep you in the game until you recover or land a winning streak.
Don’t believe us? Take it from one of the best poker players of all time, Daniel Negreanu.
No matter how good you are, there will be a deviation in terms of luck, which plays a significant role. And if you don’t have enough resources to fade those streaks of good and bad luck, no matter how good you are, you will go broke.— Daniel Negreanu
Once you have your bankroll and unit size ready, you can use bankroll management with several different strategies, such as the flat betting model, the percentage model, and the Kelly Criterion model.
However, the most important thing to remember about bankroll management is to always stick to it and never spend more than you initially set aside for gambling.
Tip 2: Pay Attention to RTP
Just like bankroll management, RTP is something a lot of players often overlook.
But did you know that RTP can help you earn more than you usually do and make a profit, especially if you’re an avid slot player? Worst case scenario, it can at least help you win back some of the money you spent on gambling.
The term RTP stands for Return to Player and it signifies the amount you are expected to win back for every $100 spent.
For example, if you are playing a video slot with an RTP of 97%, you are expected to win back $97 for every $100 you spend, while $3 is how casinos remain profitable.
RTP is quite similar to the house edge, which is a mathematical advantage casinos have over the players in order to make a profit in the long run. The house always wins, after all, so to stay in the business, casinos have a minor advantage over the players in the form of RTP or house edge.
Curious to learn more? We already have a detailed guide that will tell you everything you need to know about the casino house edge and how it works, so make sure to give it a look.
For now, however, let’s focus on RTP and how you can take advantage of it.
The house always wins in the long run, and a little bit of luck goes a long way.
RTP is measured over hundreds of thousands if not millions of spins. So, technically, if you start a gaming session with $1,000 and you spin the reels of a slot with an RTP of 99% million times, you should, mathematically, end up with $990 in your account.
But what happens if you spin the reels ten times or a hundred times? Does that mean you are guaranteed to “win” $97 for every $100 you bet, losing $3 in the process?
Of course not!
The outcome of every spin is completely random and depends entirely on luck. If you are unlucky, you can end up losing your entire bankroll.
On the other hand, with a little bit of luck, you can win five or even ten spins in a row.
Are the odds against you? Yeah, to a degree.
Can you beat the odds and make a profit? Absolutely!
Even though luck plays a major role, sometimes, it doesn’t hurt to play smart, so we recommend that you always play games with a high RTP.
RTP can vary from one game type to another. For example, jackpot slots are notorious for having lower than average RTP, while offering the opportunity to win once-in-a-lifetime jackpots. Conversely, provably fair Bitcoin games are well-known for having extremely high RTPs.
To help you get started, we’ve prepared a list of the average RTP and house edge of some of the most popular casino game types.
|Game Type||Average RTP||House Edge|
Casinos like BC.Game and Stake are home to dozens of provably fair titles, most of which come with extremely high RTP. For example, BC.Game’s beloved Bitcoin Crash rendition:
This is just one of many fantastic original and provably fair game variations out there for you to explore.
However, before you dive in, one thing you should remember is that the RTP can also vary from one casino to another and that the same game by the same provider may have a different RTP at a different casino.
Fair and transparent casinos that are licensed by reputable governing bodies, such as the Malta Gaming Authority, UK Gambling Commission, or the Curacao Gaming Control Board must display the house edge or the RTP of every game publicly.
So, make sure to access the game’s pay table and double-check its RTP before you start playing.
Tip 3: Don’t Put Stock in Casino Myths
Casino myths are all over the web, promising you easy ways to make money playing casino games or sports betting. Unfortunately, players trying to find how to get a profit from Bitcoin gambling are extra susceptible to these myths. However, if winning was that simple, wouldn’t all of us be swimming in cash by now?
If we had an ironclad strategy that guarantees we can win at all times, wouldn’t casinos be out of business by now?
No matter what anyone tells you, casino games boil down to luck and luck alone.
Casino games like poker are considered games of skill. The better you are at poker, the higher your chances of beating other players and making a profit.
However, most casino table games are all about luck so, even though strategies like the Martingale strategy, d’Alembert’s system, and Fibonacci’s trading strategy make sense on paper, they are unlikely to net you a fortune.
Another thing you should be wary of when playing casino games is the gambler’s fallacy.
By definition, a gambler’s fallacy is a belief that an event that occurred multiple times in the past is less likely to occur in the future.
Take a look at the game of roulette, for example.
The chance of a roulette ball landing on red or black is roughly 48% for either color. If a ball lands, let’s say, seven times in a row on red, the odds are it will most likely land on black on the next spin, right?
No matter how unlikely it may seem that the ball will land on red for the eighth time in a row, the odds of it happening didn’t change because it landed on red seven times before that—they are the same with each spin, which is 48% in our case.
With all of that in mind, try not to fall prey to false promises, foolproof strategies, or even gambling superstitions. Gambling is all about luck, so focus on having fun and rely on methods that actually work.
Tip 4: Go Feeless
Fees are the bane of every casino player out there. Hardly anything is more tiresome than winning big and having to part with a decent chunk of your earnings because the casino is charging high fees for withdrawals.
And it’s just as bad having to deal with casinos that charge fees for deposits.
The good news is that most Bitcoin casinos have lower costs of operation and do not charge unreasonable fees. Those that do usually charge a minimal flat fee, which is mostly there to cover transaction costs — the fee itself depends on the coin you use for gambling.
Top Bitcoin Casinos with No Fees
Did you know that some crypto casinos don’t charge any fees whatsoever? We recommend:
Playing in a no-fee casino isn’t going to directly help you make a profit from Bitcoin gambling. It also won’t make you insanely rich overnight. However, money saved is money earned, and there is absolutely no reason whatsoever you shouldn’t take advantage of the casinos’ policies and go feeless.
The best way to make a profit is to take small wins whenever you can.
Bankroll management, high RTP games, and going feeless aren’t going to make you millions, but each of these methods has a proven track record.
Unlike many other guides that promise riches and tell stories about questionable strategies, we decided to focus on methods that actually work.
Each of the tips on our list adds a little something to your total. Add a little bit of luck into the mix, and we are positive our tips and tricks can help you end the day a tad richer.
With that in mind, remember that gambling is meant to be a form of entertainment, so try your best to have fun along the way and avoid chasing losses.
More importantly, make sure you gamble responsibly and never exceed your bankroll limit or spend more than you can afford.
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January 3, 2023How Curaçao's New Gambling Regulations May Impact Blockchain Casinos
Reputable casinos are likely to come out on top while shadier operators may be severely affected. As part of a financial rescue deal with the Netherlands, the government of Curaçao has committed to introducing a new online gambling regulator by March 2021. Heavily reliant on the tourism industry, the island of Curaçao is expected to see […]
February 2, 2023The New Paypal Crypto Wallet Might Change Blockchain Casinos For The Better. Here's Why.
Discover how Paypal’s entry into the cryptocurrency market can directly benefit you. As recently reported by Reuters, Paypal users are now able to store, buy, and sell Bitcoin, Ethereum, Litecoin, and Bitcoin Cash in their account. Blockchain enthusiasts can then shop and play with cryptocurrencies at the more than 26 million businesses currently on Paypal. […]
March 10, 2021Online Games On Go Mojo Through Blockchain By FDJ
The French Gaming Authority, La Française des Jeux, recently launched an online gaming platform with prizes of up to €100K. This platform is not only powered by blockchain, but also free to use. Only the Mojo counts. Free To Play Go Mojo is the result of a partnership between FDJ and RedPill. The last one […]
January 16, 2023DAO.Casino – Blockchain Casino Protocol
DAO.Casino was formed by a software development team, based in Russia, who is looking to reap the well-known benefits of blockchain technology to implement them on the online gambling industry. Their main goal is to tackle big industry issues like lack of transparency and need for third party involvements to ensure quality. To help build on this, technologies like Ethereum’s Swarm or the IPFS […]
January 16, 2023Interview with FunFair’s CEO Jez San
FunFair is without a doubt spearheading the movement of blockchain technology within the online casino business. The alliance between these two concepts is one that we have covered extensively. Since FunFair is built on the ETH blockchain, it joins the ranks of our Ethereum casinos selection, but it also fits within our general love for […]
January 6, 2021Interview with Edgeless Co-Founder Tomas Draksas
Edgeless is a blockchain based project whose goal is to offer players the chance to play on a decentralized casinos. The platform currently offers 2 fully working products: Dice and Blackjack. In order to play users have to use their native token EDG which is an Ethereum-based token (ERC20 more specifically). They are only in the […]
September 1, 2021Blockchain Technical Committee by GSA (UK)
Earlier this year the GSA – Gaming Standard’s Association – formed the Blockchain Technical Comitee. This is interpreted as a major hint that the GSA will be looking to integrate the technology behind cryptocurrencies onto the online gambling industry. How the committee plans to execute this is still unclear at this point. A meeting organized by […]
March 10, 2021Bitcasino pioneers Fiat-to-Bitcoin conversion
Big news for every casino enthusiast out there. Bitcasino.io is providing their users with the ability to directly convert fiat money (Euro or Dollar) into Bitcoin. This is the first time an online casino has implemented this kind of conversion service that eliminates the need of going through an exchange. This has been made possible through a […]
June 23, 2020FunFair will revamp licenses for Blockchain gaming
Funfair technology looking for licenses by regulators As we all know by now, everything related to online gambling is ripe for disruption and improvement, specially with the emergence of blockchain technology. Many projects know this and are trying to setup their “start-up” in the business using the technology behind cryptocurrencies like Bitcoin to take advantage […]
January 3, 2023Would Gambling Tokens Benefit More from Bitcoin Cash?
As we’ve previously covered, gambling is to blockchain what fish is to water. The advantages of bringing these two together are plenty and clear to see. However, due to the incipient nature of the technology, there are still some hurdles to overcome in order to make blockchain and cryptocurrencies the perfect environment for gambling, including sports betting, […]
January 3, 2023Overwhelming blockchain casino club to raise $1 billion in Macau
Macau, known as one of the world’s top destinations for gambling, is about to further raise its game as an international company is working on a billion-dollar ICO to build the world’s first ever blockchain-based casino gaming club in the island. Wide Rich Global Company, an investment venture based on Malta (yet another blockchain-friendly island), announced their […]
February 7, 2023Provably Fair Casinos – What Is It? Does It Really Work?
Provably fair casinos have revolutionized online gambling. The concept removes even the possibility of a rigged result. With provably fair games, you can verify the authenticity of each bet you place. This means the casino can’t manipulate the outcome – either by design, or because the result is verifiable. Provably fair games are available on […]
January 3, 2023Isle of Man reaffirms its leadership by launching new blockchain office and sandbox
The Isle of Man, a jurisdiction with one the world’s most advanced legal frameworks for cryptocurrency and iGaming, is launching a new Blockchain Office and regulatory sandbox to cater to the relinquished billionaire blockchain market. As reported by FSTech, the office will be dedicated to facilitating communication between regulators and companies in the sector, enabling the industry to flourish in […]
March 10, 2021Fishing Master – TRON Gambling Dapp Review
Fishing Master is a blockchain gambling game, and in fact, one of the most popular DApps – decentralized applications – on the Tron platform overall, with an average of 2.3k daily users as of February 2019, according to DappRadar. Its simple gameplay is based on casting a fishing rod in order to receive a random amount […]
March 10, 2021Malta Blockchain Summit 2018
Malta has cemented itself as the “Blockchain Island” by now given its very friendly approach toward blockchain related businesses. Binance and OKEx are major players in the game who have announced their relocation to Malta. To capitalize on this momentum, Malta’s Blockchain Summit is set to take place on 1-2 November on St. Julian’s InterContinental […]