HOW TO MAKE MONEY GAMBLING

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Written by:
Tuomas Laine
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Reviewed by:
Henrik Visuri
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Last update:
22.5.2024
  • Detailed guide to enchance your chances
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At Bonus Ninja, we discuss making money through online gambling. While winning big is never guaranteed, our guide enhances your chances by setting realistic goals and educating you.

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Casino Guides

To enhance your knowledge before playing in online casinos, explore our in-depth guides written by our experts!

How To Make Money Online Gambling

If you’re eager to learn how to make money online gambling, you should know that the answer isn’t as simple as you might think. 

There are a lucky few that won great money with just a few spins, but it’s not an everyday occurrence. Regardless of which technique you’re using, there’s no guarantee of winning. You can increase the chances of that happening, though, by setting realistic goals and educating yourself—and we’re here to help you do that through our comprehensive guide.

Choosing the Right Online Gambling Platform

Selecting the right online gambling platform is crucial because reputable online platforms are fair, regulated, and trustworthy. If you do win money, you’re more likely to do so in regulated venues. 

To make your search easier, our experts set up a list of ten reputable online venues that meet all these criteria and offer a safe and enticing gaming experience: 

Casino
Licenses
PokerStars Casino
  • AGCO
  • MGA
  • UKGC
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Luxury Casino
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PartyCasino
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MansionCasino
  • GGC
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Wheelz
  • MGA

Getting Started

To possibly start making money, you first need to create an account on a reputable platform. Visit the website of your chosen casino and navigate to the Sign Up or Register button. Provide the required information, such as your name, email address, and password, and follow any additional steps for account verification.

Payment Methods

Once your account is set up, you can proceed to the next step. To fund your online gambling account, reliable platforms offer a range of payment options. Some online venues can have additional options available or certain methods limited. Check the payment methods that are accepted and familiarize yourself with the following to know what to expect:

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Transfer Fees

Transfer fees can vary depending on the chosen casino and the payment method used. They can impact the profitability of your online gambling sessions, as they may reduce your final winnings. That’s why it’s best to find a casino with low or no fees so that you can keep a larger portion of your prize.

Processing Time

Instant deposits enable you to start playing immediately, while quick withdrawals ensure faster access to your winnings. When withdrawals take a long time to process, players might change their minds and cancel the withdrawal so they can keep gambling, which can result in them going over their time and loss limits.

Deposit and Withdrawal Limits

Deposit limits allow you to set the maximum amount you can deposit into your gambling account over a specified period. These limits help you control your spending and prevent you from depositing more money than you can afford to lose. This can be helpful in avoiding impulsive or excessive gambling behaviour.

Withdrawal limits refer to the maximum amount of money you can withdraw from your gambling account within a specific timeframe. These limits are usually set by the venue and may vary depending on your membership level, transaction method, or other factors. Withdrawal limits can affect the way you manage your bankroll—if they’re too low, it may be difficult for you to access all of your winnings at once, which may influence your cash flow.

Online Gambling Possibilities

Online gambling offers unique possibilities for making money via games, casino campaigns, and sports betting, each with different features and strategies. 

Casino Games

There are various casino games available at online casinos, and the most popular ones include:

  • Slots
  • Blackjack
  • Poker 
  • Roulette 

Casino games are mostly based on luck, as the outcomes are determined by random number generators (RNG). While blackjack and poker strategies can improve your odds, they don’t guarantee consistent winnings.

Beginners will find most casino games easy to play—some of them, such as slot machines, don’t require previous knowledge. Others, like blackjack, are rather easy to learn.

Sports Betting

Many online casinos have sports betting categories where you can wager on various events. This kind of betting involves predicting the outcome of games or matches, as well as political and popular events. 

Sports betting offers a wide range of options, from traditional bets like point spreads and moneylines to more complex wagers like parlays and prop bets. If your predictions are accurate, you win your wager with additional winnings based on the odds. Wrong predictions result in the loss of the wagered amount. 

Did you know?

In Canada, the legality of receiving payments from online casinos varies by game type, operator location, and local regulations; bank policies also differ.

Developing a Strategy

Different online gambling activities may require specific strategies. Developing a strategy is crucial in online gambling, as it can enhance your chances of success. Strategies can help you make informed decisions, minimize your losses, and optimize your gameplay. 

Blackjack Strategies

The basic blackjack strategy rules guide you on when to hit, stand, double down, or split based on your hand and the dealer’s upcard. These rules are based on mathematical probabilities with the goal of minimizing the casino’s edge, but they don’t guarantee player success in the game.

Card counting is another advanced strategy used in blackjack, where players keep track of the cards that have been played to gain an advantage over the house. While card counting isn’t illegal and doesn’t necessarily help you win, casinos may ask you to leave if they suspect you’re doing it because they see it as a form of advantage play that goes against the game odds.

Poker Strategies

Start with choosing the right poker games and tables that match your skill level. Avoid high-stakes games if you’re still learning and focus on improving your game at lower-stakes tables. Learn the strength of different hands and adapt to players you play against if you’re playing live dealer versions. 

Here are the top five tips that can make you more confident in your next poker game:

  1. Play a fast game when you have a strong hand to build the pot
  2. Defend your big blinds when you get the right hand
  3. Don’t be the first player to fold
  4. Fold if you’re not sure about the strength of your hand
  5. Don’t play under stress

Roulette Strategies

Roulette is a game of chance, but players have developed some strategies with the goal of improving their winning odds. Some of the players’ favourite strategies include the following:

Strategy
Description
Martingale
  • Progressive betting system
  • Double your bet after each loss
Fibonacci
  • Increase the bet after each loss according to the Fibonacci sequence
  • Decrease the bet after each win according to the Fibonacci sequence
D’Alembert
  • Increase bet for one unit after a loss
  • Decrease bet for one unit after a win

Keep in mind that while the above strategies seem appealing (and might work for some players), they don’t guarantee a successful outcome, as roulette is a game of chance. 

Sports Betting Strategies 

Sports betting is influenced by both luck and strategy. If you’re interested in making money via this type of betting, there are two important terms you should familiarize yourself with:

  1. Value betting—Involves identifying odds that are higher than the true probability of an event occurring
  2. Arbitrage betting—Implies placing bets on all possible outcomes of an event through different sportsbooks to ensure a profit regardless of the outcome. This requires quick decision-making and access to multiple platforms

Successful sports bettors spend time researching past team and players’ performances, recent injuries, game location, weather conditions, as well as other factors that can influence the outcome of a game.

Focus on a specific sport, league, or type of bet. Becoming an expert in one area can give you an advantage over those who place general bets.

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Staying Responsible

Thinking about how to make money online gambling can be very tempting, but you need to keep in mind that while some strategies can increase your chances, there are no winning guarantees. After all, they might only work in theory. As gambling can lead to financial and emotional distress, it’s important to learn not only how to make money in online casinos but also how not to lose too much of it. 

Three responsible gambling practices that can help you with that are:

  1. Managing your bankroll
  2. Not acting on impulse
  3. Using responsible gambling tools

Managing Your Bankroll

Effective bankroll management is the right way to maintain control over your finances and maximize winning possibilities. Setting a budget is the first step toward responsible gambling. Determine the amount of money you’re willing to lose, which should be the amount that won’t affect your daily life. Divide your budget into smaller portions for multiple gaming sessions, and don’t go above those limits.

It’s advisable to start with smaller bets and gradually increase them as your bankroll grows. Keep track of your wins and losses, and if you encounter a losing streak, take a break. Remember, gambling should be seen as entertainment, and managing your bankroll responsibly ensures sustainable and enjoyable gaming sessions.

Not Acting on Impulse

Avoiding impulsive actions is one of the critical aspects of responsible gambling. If you lose money, don’t let emotions take you over and lead to further expenses. Taking the time to think about your gambling choices allows you to assess risks, consider probabilities, and make more rational bets, leading to more informed and calculated actions.

Using Responsible Gaming Tools

It’s important to be aware of the signs of problem gambling, such as: 

  • Frequent and excessive gambling 
  • Chasing losses
  • Neglecting responsibilities
  • Experiencing distress or anxiety when not gambling

If you start feeling like you’re not in control of your gaming habits, all reputable gaming venues offer different tools that can help you get back on track. 

These tools include:

  • Break periods
  • Self-exclusion periods
  • Activity tracking
  • Account termination
  • Professional support

Remember that responsible gaming tools are designed to support your well-being. Using these tools can help you maintain a healthy relationship with gaming and prevent potential consequences.

Educate yourself about responsible gaming practices and the potential risks associated with excessive gambling. Being aware of these issues can help you make better decisions and protect you from financial harm.

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