In the climate of having multiple streams of income and “securing the bag” by all means, more people are wondering: can online slots be a profitable side hustle? A little extra cash is always welcome, and if hobbies can become a sustainable source of income, then why not?
Is Online Gambling A Sustainable Side Hustle?
For those with golden hands, killing two birds with one stone by making an income out of their gambling hobbies has become a means of earning. Online casinos have grown in popularity over the years and stand as the perfect opportunity to try one’s hand.
Their availability across multiple platforms, smartphones, PCs, laptops, smartwatches adds to this rising popularity. Unlike sports gambling accepted as sustainable betting feats, slots for most people appear to be less structured. It doesn’t present an opportunity to go pro as the practice has less to do with skill. Under the ideal circumstances, one could stand a chance to win big if they play their cards right.
Casinos Have The House Advantage
The only certainty there is to ga mbling is this: the house will always win with slots. Remember that casinos are businesses, and businesses are built to make money, not freely give it away. So as much as they can help it, casinos will always make sure there are odds stacked in their favor to make them win.
The built-in advantages are called the “house edge,” representing a mean gross profit expected from every slot machine over the course of its existence. Slot players are usually determined to beat these odds using mathematics and superstition. They may stay on machines for extended periods, increasing the probability of matching up with the house edge.
Each casino and game played has a different house edge, and blackjack has the lowest known house edge, while keno has the highest.
Regardless of the game, you decide to try your hand in, the odds that the casino will win are higher than the odds you have of winning their money. This is because casinos design these games to give themselves the highest chance of profitability.
Whether you go to an online or traditional casino, this RTP (return-to-player) rate is fixed into the system’s algorithm. For every game played, the casino keeps a small percentage. Thus it looks as if, theoretically, you only have a small window to lose, but the algorithm is already fixed against the player. According to slot experts, there is no sure way nor mathematical way of always winning at online slots.
Pick More Generous Slot Machines
Gambling is about learning strategies you can use to up your chances of winning, and one of the most important tips is to pick a generous machine.
- Return-to-player rates – Targeting slot machines with higher RTP rates will give you a better chance to break even with every game. Make sure you check the RTP indicator, and that’ll help tilt the scales in your favor.
- How volatile is the machine – Ideally, go after a machine with low volatility, that is, one that’s more likely to offer regular wins, even if the gains are small. This is a better option than waiting on more volatile machines and giving rare but more significant wins. Knowing the level of risk associated with each game will help you make a better decision. Your pocket will play a factor here whether you want to go big or not.
- What’s the paytable like – Before hitting ‘spin,’ take one more look at the paytable, which will give you an overview of all the paylines, reels, payments, and winning combinations. Pay special attention to any unique bonus symbols and characters too.
Don’t Obsess Over Jackpots
The dream is to hit one huge jackpot and cruise comfortably for a while. This, however, is very costly. One of the reasons for the popularity of slot machines is progressive jackpots. Though coming with low guarantees, they could be in for some big payouts if one consistently follows these. The idea behind this is to keep the players going for hours to access the rewards.
Players could hoard the machines for weeks in hopes for the machine to cough up a jackpot. But the algorithm isn’t set that simply. Jackpots are known to attract more bets, increasing the overall value, so they tend to be more common. However, be careful when gambling with the money you have. If you know that you can’t afford to lose, then try to limit yourself from gambling.
The first thing to remember with turning this into an income source is to gamble with pocket money and not land yourself into debt. Under the right circumstances, this could quickly become a profitable side hustle.