Even though most of the casinos are full of flashy colors and lights, their basic foundation is built on Maths. So, sometimes having the right strategy and probability, can shift you from an astronomical loss to a one-in-a-million jackpot. It will also help you in navigating the complex emotional turmoil you could experience while on a losing streak. That’s why we are bringing forth this article.
It will provide you with information on the top gambling strategies employed by professionals and when to use them. Furthermore, we will also provide you insights into their associated risks so you know exactly what you’re getting yourself into by using these strategies.
Top Crypto Casino Gambling Strategies
There are countless strategies that one can find when it comes to making a profit from the crypto casino industry, but only a few of them actually pay off. Rest can only lead to major losses on your part. That’s why choosing the proper strategy is vital. Here, we will list the top 7 strategies gathered based on the opinions of countless gambling professionals in the industry.
1. Kelly Criterion
Kelly Criterion is a mathematical formula used to determine the optical fraction of capital to bet or invest to maximize long-term wealth growth. It was developed by John Kelly Jr in 1956 and is calculated by considering the probability of winning, the odds of the bet, and the potential loss you could encounter.
When To Use
The Kelly Criterion is used when you have a series of independent bets, and you know exactly what the probability of winning and payout ratio is. However, the strategy would only work properly if you have a large sum of money to back it up.
Risks
The risks of using the Kelly Criterion include the potential for large, risky bets, and their associated drawdowns. Also, in real-world gambling, it is extremely difficult to attain perfect knowledge of all the involved probabilities.
2. Martingale
Martingale is a strategy employed by professional gamblers where you double your betting amount after each loss, aiming to make up for previous losses and make a profit with one win. However, this strategy is considered a highly dangerous gamble that could significantly backfire if you’re on a losing streak.
When To Use
The Martingale strategy is commonly used in casino games like roulette or coin flips, where you have a 50/50 chance of being the victor.
Risks
The main risk associated with this strategy is a losing streak, which could result in exponential losses. Also, when it comes to online casino games, the house will always have a slight edge, meaning that at some point, it will stop working.
3. Anti-Martingale
The Anti-Martingale or the reverse Martingale is a gambling strategy that involves increasing bets after wins and decreasing them when you encounter losses. This strategy is primarily employed to capitalize on winning streaks and minimize losses during downturns.
When To Use
The strategy is designed to be implemented when you are benefiting from a “hot hand” or a number of wins in a row.
Risks
The risks of using an anti-martingale strategy include potentially missing out on profit opportunities due to betting less on a winning hand. Also, if you’re on a winning streak, it could result in overconfidence, causing you to increase your bets too much, which could lead to a large loss.
4. Paroli System
The Paroli system is a popular betting strategy that encourages players to up their stakes each time they land a win and drop down to the original amount on a loss. Also, if you were to land 3 consecutive wins, then you revert back to the original amount. It is specifically designed to utilize a winning streak and is most commonly used in blackjack, online live roulette, baccarat, craps, and so on.
When To Use
The Paroli system is mainly recommended to be used on bets with even odds or close ones. In other words, the ones that offer you a 50-50 chance of winning and a payout of 1:1.
Risks
The main issue of the Paroli strategy is that when it comes to winning a casino game, the odds can go against you at any moment. Also, if you lose more than 3 games in a row, it would be difficult to recoup them using this strategy and you could also miss out on profit opportunities if you hit your 3-win quota and revert back to the original amount, only to win again.
5. Oscar’s Grind
Oscar’s strategy is a long and popular betting strategy employed by many professional gamblers. It involves increasing your bet by one unit for every win and keeping the same bet size in case of a loss. The main goal of this strategy is to continuously make one-unit wins until the targetted profit is attained.
When To Use
Oscar’s Grind is best suited for games with a 50/50 chance of winning like red/black betting in roulette sessions. Also, the player should only employ this strategy when he is playing a sequence of bets with minimum odds of at least 2.0.
Risks
A winning streak could result in overconfidence, which could lead to larger losses, and in the opposite scenario, it could take a long time for the players to recover from a major loss. Also, the strategy is entirely dependent on having a good winning streak, which is extremely difficult to come by.
6. Labouchere
The Labouchere betting system tells players exactly how much they should risk when playing a game. It was invented in the late 19th century by Henry Labouchère, who was trying to use a strategy to be used on even bets, such as red/black, odd/even, and 1-18/19-36. Some players also use it in blackjack live hands and in other games.
When To Use
This strategy is also best suited for games with a 50/50 chance of winning like red/black betting in roulette sessions, and is considered an overall defensive strategy.
Risks
The Labouchere strategy can create a huge hole in your capital if you are on a losing streak. You also need to keep in mind the table limits when employing the Labouchere strategy and that it does not help you cash in on a long winning streak.
7. 1-3-2-6 Strategy
The 1-3-2-6 strategy is similar to the Fibonacci betting system and oyster unit betting system and is widely used by gamblers who want to use a predetermined staking sequence. In this strategy, each time you win, you increase your unit stake by the next number in the sequence and in case you hit a loss, start again from the first number of the sequence, same in case you finish the sequence as well.
When To Use
The 1-3-2-6 strategy is best suited if you have a relatively small bankroll. If you’re someone who is prone to making an emotional decision in certain scenarios, you should try to adopt it into your gambling career, as it is one of the simplest and easiest strategies to follow.
Risks
By employing this strategy, players are putting themselves into responsible but restricted profit gain scenarios. Also, if you’re employing this strategy, it will be difficult to regain the losses in case of a losing streak.
Smart Crypto Casino Gambling: Tips for Safer and Smarter Play
Several strategies can be employed to ensure safer and smarter plays in crypto casinos, as they are places where people are more than happy to empty their pockets. Mines is one of the most played games in the online crypto casinos. Here are some of them that can help you control your urge to overspend and put a leash on your gambling addiction if you have any.
- Mindset: View gambling as a means of entertainment rather than a way to earn money. Also, keep in mind that the odds of landing a jackpot in a casino are 1 in a million, not the losing odds.
- Setting A Clear Budget: Make sure to put a strong budget on the amount of money you spend in casinos and not exceed any more than that.
- Betting Limit Tools: Use Betting limit tools in online casinos to put a limit on the amount of money you put into betting games.
- Limiting Time Spent on Casinos: Set a limit to the time you spend on casinos. You can set it up easily in online casinos as they have an inbuilt feature integrated into it for this purpose.
- Avoiding Credit Cards: Whatever you do, do not use credit cards for gambling, especially if they charge a high interest rate. This is mainly because the platform’s fee for depositing money combined with the annual interest rate can land you in debt if you lose.
Final Remarks
Adopting a strategy is one of the most important aspects of the gambling sector. Even though the profit is not guaranteed, it can greatly minimize the risks and prevent you from making an emotional decision. So, refer to the above strategies, find the one that is most suitable for you, and implement it into your gambling career. Also, make sure to not become addicted to the thrills provided by the casinos and play responsibly. For further valuable tips on becoming a professional and responsible gambler, stay tuned.