Many individuals have asked if it is possible to make a living and earn money on slots. The answer is simple, a yes. Like in any other form of gambling, such as sports or horse racing, slot players can also win prizes or the jackpot in real cash.
One of the advantages slots players have, when compared to other gamblers, is that when playing slots, one does not try to win the house money, but they compete for other player's money. Though not many people gamble for a living, below are tips to know if intending to play slots for a living.
The first step is actually to define what "making a living" means. This will help determine how much money one needs to win on slots to sustain their lifestyle. Some factors that come into play include where one lives, lifestyle, insurance, family size, and medical bills, among others.
Professional slot players have to worry about aspects such as health insurance, which comes at a cost. When choosing to make money on slots, one should consider factors such as not getting time off or working long hours. Also, one should come up with a strategy to avoid losing all invested capital.
Slot machines are designed to lock in or guarantee profit for the online casino over the long term. This profit is referred to as the house edge, while the payback percentage is what the player wins. Most of the slot machines have a payback percentage of between 90 and 98%.
For example, suppose a particular slot machine has a payback percentage of 94%. In that case, this means that for every $100 wagered, the players win $94 while the house edge is $6. Slots machines run on computer programs that use mathematics principles. Unless there was an error when programming, then the underlying principles come true.
To make money on slots or gamble for a living, one needs to develop a plan to overcome the house edge and make money both in the short and long run. The information below will help you come up with a slots winning strategy.
The first thing is to find the slot machine payback percentage. Machines with the lowest house edge have a higher payback percentage. Other tips include making use of the available bonuses as one way of overcoming the house edge. Playing progressive jackpots is another method of beating the house edge, especially when the prize has grown.