How do online casinos make a profit
Online gambling can be a fun experience, but it’s important to remember that losing, as well as winning, is part of that experience. Even when you win, however, the casino manages to make a profit, and some may wonder how that can happen. Below, you can read on a few reasons why casinos always turn a profit, and why there is the saying: “if you want to make money, don’t gamble, but open a casino instead.”
Casinos will, on average, win more than you, simply due to the statistical advantage they have over you.
Every game you play at a casino, whether it is online or a physical one, will have something that is called “house edge”. The “house edge” is simply a value expressed in a percentage, meant to explain how much of your money you lose, on average, to the casino while gambling. Some games will have a higher house edge meaning they are riskier, or a low house edge, meaning you can take home a bigger profit. For example, games like Slots or Roulette have a higher house edge, while Poker and Blackjack will have a lower house edge, which you can use to your advantage.
However, the house edge will never be 0%, which means that no matter what, the casino will take a small percentage of the money you put into the game.
Optimising the banking process
Another tactic which casinos use to make sure they get as much money out of their players as possible is optimising the banking process for them. In simple terms, online casinos will put lots of effort into making sure their online banking systems are secure to avoid any unpleasant situations – after all, getting scammed will ruin anyone’s experience and they will avoid your website after.
Not only that, but online casinos also include certain features in their banking system, such as minimum withdrawals or limiting the withdrawal process to certain days of the week, to make you stay engaged in their games for longer, until you meet the requirements. They may also advertise free bonuses, which are only accessible by making a deposit first – those bonuses are insignificant for the casino compared to the profits they make, so they have no issue giving them away to their players.
Keeping players engaged
While it’s true that all games will have a house edge above 0%, meaning the casino will always make a profit no matter how small, it is also essential to actually keep players engaged in their games to make substantial profits. Online casino games are designed especially for this purpose – they will contain satisfying animations when you win, as well as bright colours and sounds. The more senses are engaged in the content, the less likely you are to notice the passing of time and take a break.
Real life casinos employ similar tactics, such as not including any windows or clocks inside their venues – the lack of these elements has been proven to make people less aware of the passing of time, thus making them spend more time playing than they initially planned.
Commissions and deposits
Besides statistical advantage, casinos also use commissions and deposits as a way to make money off of their players. For example, some Poker games may require an initial deposit from all players, which includes a 20% commission to the casino – that money is simply a fee for you to play, and not part of your earnings.While it may seem like you are at a disadvantage when it comes to gambling, this shouldn’t take away from the fun you have with your favourite games. Websites like Fruity Slots are there to help you research which casinos are best for you, and which are safe to use without worrying about scams.