Caporegime
- Joined
- 18 Oct 2002
- Posts
- 33,188
WHAT?!
I knew online gambling was bad, but i didnt realise it was THAT bad!![]()
It isn't that bad, that isn't £960 individual pounds, if you deposit £10, place £1 bets, on blackjack you win almost as often as you lose, you can have a £10 stake and bet it over, and over and over.
This is how the bonus schemes worked, you'd put in £100, get a matched bonus or hopefully 200-300%, sit there playing blackjack sensibly, you would have say £400 total inc bonus, bet £5 a time over and over, you'd say win 48% of the time, lose 52% of the time, hit some blackjacks which pay back more obviously, essentially you can bet that £400 hundreds of times and only lose £50, then you withdraw £350 and have made a £250 profit.
Loads of people did this, I made a few grand off it but started doing it fairly late where it was tediously boring and less good matched bonuses.
It was well worth doing, probably not now, the terms are always pretty clear, and frankly not expecting a catch when they offer to give you 3x what you deposited is delusional.
Also Guile, lots of people, huge numbers, made thousands off the bonus schemes that online casinos ran. There is nothing stupid about gambling in casinos, you just have to know when the odd ARE in your favour.
All games in a casino give the house the advantage, but factor in the house advantage, blackjack odds and the bonus amount/betting required and for many years the advantage was without question with the gambler, usually by a very big margin.
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