We’ve all seen those viral videos where someone wins a ton of money on a slot machine, or a craps table. The outcome seems inevitable, and many of us have probably secretly wished we were that lucky. Unfortunately, such videos are usually fakes. While it’s definitely fun to watch people win big on games of chance, the chances of you replicating that success are minimal. If you are looking for a way to bet on the games you love, without risking your own money, then you have come to the right place.
We’re going to walk you through how to bet on point systems work using Cryptocurrencies and Smart Contracts. You’ll learn about the various types of point systems used in American gambling, how they work, and how to put them to good use in your own investing.
What Are Point Systems?
Point systems are used in a variety of gambling venues, mostly in America, to determine the outcome of a game. A coin or token is usually put into play, and depending on the rules of the game, either the bank rolls or the players contribute towards a winning outcome. The exact rules of how a point system works vary from casino to casino, but most of them work on the following general principles. The more you bet on various games, the more you’ll earn in return. And the house edge, the difference between wins and losses on a game is usually somewhere between 2% and 7%.
Due to their nature, point systems are more complex than typical wagering strategies, and it takes a bit of learning to get the hang of it. That’s probably why they are so popular in American gambling circles, due to the lack of regulation surrounding the practice, and the seemingly endless options for games and bets to choose from. If you want to get started with point systems, here’s a handy guide that will teach you everything you need to know, step-by-step. You can even practice with free point systems from our partners at WinBit until you feel confident enough to try out real money games.
How Do Point Systems Work?
In general, to start with, point systems work by having the players put in coins or tokens on a game, and having those coins or tokens then evaluated for wins and losses according to a set of rules. Typically, those rules will say that every $10 wagered will earn the player 1 point, and that every win adds 2 points to the player’s account. After every few hours of play, the player’s account is assessed to see how many points they have accumulated, and if that amount is enough to cover the losses on the game, the player will be paid out, according to the amount of their bet. In most cases, the player is only paid out if their total bet, including losses, is at least equal to the amount of points they have accumulated.
Now, the really cool thing about point systems is how they can be used to reduce the house edge. As a general rule, the more complex the system, the lower the house edge will be. Because there are so many rules and compounding factors, the odds of an outcome are very difficult to calculate, and so the house edge is kept low, usually hovering around 2% to 3%. Some casinos will use a point system where the player actually wins, with a smaller house edge than the one usually associated with the system. In that case, the advantage is definitely on the side of the house, and it’s not difficult to see why.
Why Are Point Systems Used In Gambling?
Point systems are used in gambling for a variety of reasons. One of the major draws is the ability to have a lower house edge. As discussed above, the more complex the point system, the lower the house edge. Another big draw is how easy it is to implement. Due to the nature of how they work, point systems can be easily adapted to fit any gaming environment. In most cases, they can be added to an existing game, or can be used to create a game from scratch. This can be a real boon for any casino looking to lower their overall house edge, or for players seeking to enjoy some added complexity in their games.
Which Games Use Point Systems?
The list of games that use point systems is practically endless, due mostly to American gambling’s open doors policy. Almost any game that allows for wagering can use a point system, and since the practice is completely unregulated, there really aren’t any limitations on what games can be played, as long as they allow for wagering. The good news for investors looking for a way to put points to work for them is that virtually any game that uses a point system allows for CFDs (contracts for difference), so putting your money on the line is completely risk free.
How Do You Calculate A Winning Hand In A Game That Uses Point Systems?
The specific details of how a winning hand is calculated in a game that uses point systems varies from casino to casino, but in general if you’re looking for a way to place a winning bet, there are a few common approaches. One of the first things you’ll want to do is establish how many points you’ll need, to cover your losses, as well as how many points you’ll need to win. To determine how many points you’ll need to cover your losses, use this formula:
(Your total loss) X (the point rate for your game)
(Subtract this number from) Your total bet.
Once you know how many points you’ll need to cover your losses, you’ll need to determine how many points you’ll need to win. To do this, use the following formula:
(Your total bet) X (1.5 – (the point rate for your game))
(Add this number to) Your total bet.
In most cases, you’ll need to put a bit of money on the line upfront, in the form of a deposit, to use a debit card with online point systems. After you’ve done this, the fun begins, and depending on the type of game you’re playing, your initial investment might be anywhere from 0.25% to 10% of the total amount wagered, or more. Keep in mind that the more you bet, the more you’ll earn, but the higher the risk of losing. And the opposite is true as well.
Risk Management
One of the primary reasons why point systems are used in gambling is to reduce the house edge. In most cases, the players are assumed to be risk-free, and so the casino takes on the role of a financial adviser, helping the players manage their money and mitigate risk. In return for providing this service, the casino usually gets a cut of the player’s wagers, with a portion going towards covering the cost of the service, and the rest being paid to the players as a win. In some cases, the casino will also get points for recruiting new players, as well as incentivizing winning players to continue coming back. Since most Americans are fairly comfortable playing games of chance, due to their gambling nature, this can be a fairly easy way to generate additional revenue.
Additional Revenue
Due to their nature, point systems allow for a wide variety of options when it comes to investing. When a player wins, they usually have the option of collecting their winnings, with a portion going towards paying off the initial investment, or using the money to play again, or to pay for some added luxury. In some cases, players might even win big enough to cover the entire cost of their college education, which is definitely a dream of many students who study and then play statistics-based games, such as blackjack and craps.
In most cases, the casino makes a small profit from each player they recruit and retain, due to their high turnover rate, but it’s not an easy way to make huge amounts of money. In most cases, to earn an above-average return on investment, you’ll need to play in a high-volume environment, where the games are complex and the point rates are high.