March 11, 2021

Ways to Make a Living by Playing Slots

Chloe O'Sullivan
Written byChloe O'SullivanWriter
Researched bySamuel AdeoyeResearcher
Localised byMulenga ChandaLocaliser

Many individuals have asked if it is possible to earn a living playing slot machines. The answer is yes. Like in any other form of gambling, such as sports or horse racing, slot players can also win prizes or the jackpot in real cash.

Ways to Make a Living by Playing Slots

One of the advantages slots players have, when compared to other gamblers, is that when playing slots, one does not try to win house money, but they compete for other players' money. Though not many people gamble for a living, below are tips to know if they are intending to play slots for a living.

Defining "Making a Living"

The first step is actually to define what "making a living" means. This will help determine how much money one needs to win on slots to sustain their lifestyle. Some factors that come into play include where one lives, lifestyle, insurance, family size, and medical bills, among others.

Professional slot players have to worry about aspects such as health insurance, which comes at a cost. When choosing to make money on slots, one should consider factors such as not getting time off or working long hours. Also, one should come up with a strategy to avoid losing all invested capital.

Playing Slots for a Living: Payback Percentage and the House Edge

Understanding the concepts of payback percentage and house edge can help you improve your online slots strategy. The payback percentage, also known as Return to Player (RTP), represents the expected return over a large number of spins. For example, if a slot has an RTP of 96%, on average, it will return €96 for every €100 wagered.

To increase your chances of winning, consider playing slots with a higher RTP. These games are more likely to return a greater portion of your bets over time.

On the other hand, the house edge is the percentage of each bet that the casino expects to keep in the long run. In the case of a slot game with an RTP of 96%, the house edge would be 4%. The lower the house edge, the better it is for you as a player.

It's important to remember, however, that these figures are averages calculated over thousands of spins. They do not guarantee a win on each spin, but they can guide you in choosing which games to play.

Where to Find Payback Percentage of Slots 

Finding the payback percentage of online casino slots is a relatively straightforward process. The RTP is typically mentioned in the game's rules or information section, accessible within the game interface. Just look for the 'i' or '?' symbol to open this section.

Some new online casinos also list the RTPs of their games in a separate section on their website, providing an easy comparison between different slots. If you can't find the RTP directly on the casino's site, a quick online search with the name of the slot and "RTP" should lead you to this information.

Online Casino Slots Tournaments 

Participating in slot tournaments can potentially offer you a chance to win substantial amounts. These tournaments pit you against other players, with the goal of accumulating the most points or achieving the highest win over a certain number of spins within a given time.

The prizes in such tournaments can be highly enticing, sometimes comprising large cash rewards or free spins. Frequently, the prize pool is shared among the top performers, meaning multiple players have a chance to win.

Before joining a tournament, it's crucial to understand its rules and structure, such as the qualifying games, minimum bet, duration, and scoring method. Additionally, ensure your bankroll can support the number of spins needed to compete.

Using Slot Game Bonus Options

New casino bonuses can give you a good start, potentially boosting your chances of landing a big win. These bonuses often come in various forms, including free spins, deposit match bonuses, or even no-deposit bonuses.

Free spins are often awarded on specific slots, offering you a chance to spin the reels without using your own money. Deposit match bonuses will match a percentage of your deposit with bonus funds which you can then use on slots. Meanwhile, no-deposit bonuses give you bonus funds or spins just for signing up, without needing to make a deposit at all.

New Casino Slot Games

In the bustling world of online gambling, testing new slots can be a fruitful strategy. New releases often come with promotional offers and bonuses, giving you an edge to potentially win big. Furthermore, these new games may feature innovative mechanics or higher RTPs that could swing the odds in your favor.

Finding these new slots is as simple as regularly checking the 'new games' or 'recently added' sections of your preferred online casinos. Following casino news and subscribing to newsletters can also keep you updated on upcoming releases. You can search for information about the newest online slots at NewCasinoRank as well. 

However, remember that while new slots can offer opportunities, it's important to play responsibly and understand each game's rules and payout structures. Practice demo versions before wagering real money. This allows you to learn all the details of the game without risking your money, creating a strong foundation for potential future winnings.

About the author
Chloe O'Sullivan
Chloe O'Sullivan

Chloe "LuckyLass" O'Sullivan, with her Irish charm, has an uncanny ability to spot the rising stars in the casino universe. As a core writer for NewCasinoRank, she delves deep into new platforms, ensuring readers get the first glimpse of tomorrow's top casinos today.

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