Bitcoin casinos are gaining popularity due to their convenience and ease of use, allowing players worldwide to enjoy real-money games without leaving their homes. While these online gambling operators offer excellent opportunities for users to earn money, success in any casino gaming necessitates a combination of luck and strategy.
Common Betting Techniques
Bitcoin betting differs from traditional fiat currency betting in that there are a few additional factors to consider. Instead of being at the mercy of these variables, you can use them to your advantage. Combining traditional betting strategies with a few investment-style principles can help you win online BTC casino games and come out on top. Let’s look at a few of these approaches.
Do Your Research
Bitcoin casinos come in all shapes and sizes, with games, bonuses, and promotions. Before you sign up at any casino site, research the one that is best for you. Read the casino’s reviews, look at its game selection, and ensure that it is reputable and trustworthy.
The Kelly Criteria
J. L. Kelly Jr., a researcher, developed the Kelly Criterion in 1956. The Kelly Criterion, also known as the scientific gambling method, is a mathematical formula used to calculate the optimal bet size for a game with known returns (e.g., Blackjack, Roulette, etc.).
The formula requires the input of various bet-related values, such as the probability of a win, the probability of a loss, and how much you stand to win if you win. For 50/50 bets (for example, black/red in Roulette), the formula calculates that the optimal bet size for the best return is 20% of your bankroll.
Martingale Method
The Martingale Strategy is another popular betting strategy among Bitcoin gamblers. This betting method is commonly used for 50/50 bets such as coin toss games, Odd/Even, Red/Black, and Hi/Lo bets in Roulette, and even bets in other games. This system requires you to double your bet every time you lose, hoping to recoup your losses if you win. A Reverse Martingale version of this system recommends the opposite: you double your bet after every win to capitalize on your wins.
Limit Your Bankroll And Your Losses
When it comes to casino gaming, the most important rule is to never bet more than you can afford to lose. Determine the amount of money you are comfortable with risking before beginning your gaming session, and do your best to stick to it. Make a budget for yourself and use it as a starting point for all future gaming sessions.
Understanding When to Bet
Bitcoin casino gaming introduces a new factor that does not apply to fiat currencies, which can be used to increase the worth of your winnings. The notoriously volatile nature of cryptocurrencies is one of them. Some cryptocurrencies are more volatile than others, as we all know, but instead of viewing this as an unavoidable, uncontrollable risk, you can use it to your advantage.
For example, when Bitcoin’s value is high, use it to claim bonuses; when it falls, use your funds to play. Taking an investment approach to Bitcoin gambling has proven profitable for many players and is worth considering if you want to win in the long run.
Take Advantage of Bonuses
Most Bitcoin casinos provide attractive new player bonuses and ongoing promotions for existing customers. Deposit bonuses, free spins, and cashback deals are examples of these. Read the bonus terms and conditions to get the most out of these promotions and increase your potential winnings when playing online at an XRP casino for example.
Pick Your Games Wisely
Not every game is created equal. Some games provide more chances to win than others. Return To Player (RTP) metrics can help you determine which games are more likely to pay out than others. A game’s RTP is the percentage of played funds paid to players over time. RTPs range from around 96% for average slots to 99% for some Blackjack variations. It may not appear much, but that advantage can translate into more profit if you play smart.
Gambling In A Responsible Manner
It is critical to keep your cool when gambling. It’s too easy to let your emotions rule your experience, and before you know it, you’ve spent all of your money in a very short period and are desperate to get it all back, with interest!
When it comes to Bitcoin casino gambling, the best piece of advice is to always focus on having fun. Playing with the sole intent of profiting can be a recipe for disaster. If your gambling habits are taking over, you can find assistance and resources in the Responsible Gaming section of the most reputable online casinos.
Here are a few areas where you can exert control over your spending to maintain responsible crypto gameplay.
Loss Capacity
Set a limit for how much you’re willing to lose before you start playing. While no one enjoys losing, the truth is that your experience at online casinos will almost always involve loss at some point. As a result, knowing how to deal with it is critical. At some point, you must be able to cut your losses and call it quits, so set a figure in your head and stick to it.
Deposit Caps
Another way to limit your potential losses is to never deposit more money than you can afford to lose. Set deposit limits for how much you’re comfortable depositing once per day, week, and month. Many Bitcoin casinos provide tools to assist you in this regard, which you may find useful. Again, once you’ve set a limit for yourself, stick to it.
Conclusion
The myth that you must be a “good” player and constantly play in order to win bitcoins is a myth. There are concerns about trust, whether websites are honest, and whether they are reputable enough to win bitcoins. Of course, playing online bitcoin casino games would be beneficial. However, no one knows how profitable this move will be. When selecting a bitcoin casino online, always consider the player-to-site ratio. A higher percentage indicates greater safety and larger winnings for you.
