Showing posts with label Real Money Casinos. Show all posts
Showing posts with label Real Money Casinos. Show all posts

2022/10/07

Is Card Counting in Blackjack Still a Thing?

When Edward Thorp introduced the concept of card counting in blackjack, players could not hide their joy.

They finally had a way to bring down the house and make a lot of money.

Soon enough, players were hitting casinos and making away with hundreds of thousands of dollars, propelling the making of movies such as 21, which depicted card counting to a high degree.

But this trend soon changed with the invention of online gaming.

Is Card Counting in Blackjack Still a Thing?: eAskme
Is Card Counting in Blackjack Still a Thing?: eAskme

Once the best blackjack online casinos became available to players far and wide, it was not long before players realized they had hit one major roadblock – they could no longer count cards as they had in physical casinos.

But did this mean that the card-counting era was no more? Let’s find out:

Can You Count Cards Online?

Players who counted cards in physical casinos followed a similar pattern.

They would mark the cards that had been dealt, keep a mental note of the running count, and figure out the true value of the cards in the deck.

It was quite a lot of brainwork, but over time, even those who were not math geniuses got the hang of things.

All they needed to know was whether a good card would likely get dealt, and they would base their moves on this. Easy!

Online casinos changed this in the following ways:

Constant ReshufflingThe premise of card counting relies heavily on deck penetration, i.e., how far the dealer goes into the shoe before shuffling.

The more penetration in a game, the easier it is to count the cards.

Online casinos are well aware of this concept and figured that the easiest way to beat card counters would be by often reshuffling the cards.

You will find that most dealers shuffle the cards after each hand, resulting in a new shoe, giving the card counters minimal or no deck penetration.

Without a certain advantage, you will have no option but to bend to the game's rules.

Edge Reduction:

When you are playing live dealer games, you will have somewhat of an edge.

After all, the dealer cannot keep reshuffling the cards after each hand, as this would slow the game.

They combat this loophole by only allowing 25% to 50% deck penetration.

Ideally, card counters have a high advantage when they have at least 65% deck penetration, with 70% being the best starting point.

As such, a reduction in this penetration considerably slows their roll.

However, some card counters can still win despite the odds against them, as they can still predict the future based on the previous deck.

Thus, counting cards in online casinos is quite hard to achieve.

Can You Count Cards in Physical Casinos?

We have established that getting the upper hand via card counting in online settings will not work.

But can you get away with it in physical establishments?

Not quite.

Physical casinos have adopted the following strategies to keep card counters at bay:

Dealer Switches:

When players start winning so much at one table, casinos respond by assigning a fast dealer to that table.

The dealer who comes in has much faster gameplay and is more experienced, so they can easily outpace the players.

The players will barely have time to count cards as they will be trying to keep up with the fast game.

Moreover, most players are superstitious, and such a replacement can thwart their confidence in the game.

Constant Reshuffling:

While physical establishments cannot shuffle the cards after each hand, they ensure to do so each time the deck penetration is high.

Most of them avoid hitting above 50% as they know this gives the players an upper hand. So, anytime the dealer reshuffles the cards, they affect the card counting in play.

Player Removal:

Casinos have implemented numerous ways to spot card counters. These include CCTV cameras, on-ground staff, and wary dealers.

When they realize a player has been counting cards, they approach them and ask them to leave the table.

But they don’t do it forcefully.

Instead, they offer the player a voucher or a payout to avoid causing any drama.

Sometimes, the casino forces the player out by raising the minimum stake by a high degree, which forces the player to go to another table or ask for a payout.

Hence, as many people may argue that you can easily count cards in physical casinos, that has not been the case since the MIT Blackjack Team.

Conclusion:

Card counting is not illegal.

However, casinos discourage it and do their best to keep their players from using this strategy as it lowers their profit margins significantly.

As learning and implementing this strategy has gotten harder over the years, your best bet lies in learning how to play the game and leaning on proven strategies.

These are:

  • Understand the basics of the game,
  • Have a clear bankroll that dictates how much you can spend,
  • Play online to enjoy higher RTPs and numerous bonuses, promotions, and free games, and
  • Practice using demo games to understand your weaknesses.

That’s the easiest way to win a blackjack game.

If you rely on card counting, you will only lower the house edge by an average of <1%, even after mastering how to assign values and predict future hands.

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2022/01/24

How Much Does an Online Casino Make a Day?

Casinos have always been regarded as highly profitable businesses, and today a huge portion of gambling industry profits comes from the online market.

However, this doesn't mean that each operator generates millions in revenue.

How Much Does an Online Casino Make a Day?: eAskme
How Much Does an Online Casino Make a Day?: eAskme

There are many online casinos in the UK and worldwide, but most of those operators aren't necessarily successful.

Moreover, UK casinos are rare businesses that are obligated to report their earnings.

Many companies are established in tax havens, which makes it difficult to gauge their earnings.

Here, we will determine how much gambling sites earn daily and explain how the best online casinos are making it difficult to measure these profits.        

House Always Wins? How Casinos Make Money

There are several popular casino games, and they rely on house edge to be profitable:

  • Blackjack - the house edge is between 0,5% and 2% depending on the variations of the game
  • Slots - the house edge is between 5% and 10%
  • Roulette - between 2% and 5%(American roulette with double zeros)
  • Baccarat - 1.2%
  • Video poker - between 0,5% and 3%.

Meaning casinos use money from losing players to pay the winning players and keep a portion of those earning for themselves.

However, when it comes to online casinos for UK players, it's a site that hosts games from different developers.

Meaning profits are handled a bit differently.

Operators and developers have their deals, and they share the revenue based on that agreement, and they likely share payouts expenses in the same manner.   

Wagering Requirements

The best-paying online casino often uses welcome bonuses to secure profits.

More precisely, they use wagering requirements that nudge players into the direction of online slots and often promote specific games.

Players who wish to utilize bonuses need to spend more money to be eligible for withdrawal.

So on the surface, it looks like free money, but in reality, it is a mechanism that ensures there are always enough funds for payouts.  

House Edge and RTP Explained:

House edge is pure math.

The best paying online casino UK platforms know how likely they are to win and what portion of players' money they can collect as profits.

RTP is often used in slots descriptions, and it denotes the portion of total earnings that is strictly reserved for players as rewards.

So, if a slot has an RTP of 95%, that means that out of the total money spent on that game, 95% is allocated for player payouts. 

The majority goes towards the jackpot, while the lesser portion is allocated for smaller and some bigger wins.

To sum up, RTP for any gambling is calculated based on the house edge.

RTP is equal to total profits from the game, minus the house edge.

However, only a small portion of the players will see the big rewards from the RTP pool.  

Highest Payout Casinos Are a Myth?

Many believe that online casino sites' highest payouts are a myth or a scam.

This is not the case.

These sites are regulated and audited, and they answer to the UK government. Additionally, there were multiple instances of people winning a progressive jackpot, often more than 10 million pounds.

These cases usually make the news, but the winners don't always reveal their identities.

You can even find a list of the highest payout casino UK operators that host these progressive jackpot games.

Even if they are not based in the UK, they still need to comply with laws and regulations. In other words, if they have a required license, they are a safe choice for players.  

Exact Amounts of Online Casinos Profits in the UK:

The highest payout online casino UK sites are usually the highest number of users.

This is simple, they earn the most, but they also pay out the most because most of the gambling activity goes through them.

It is why we don't have an exact number for each operator and can only calculate an average amount of earnings.

According to the UK Gambling Commission report, the total revenue from gambling in the year 2019 was around 19.2 billion pounds. We also know that 40% of that revenue is from online activity.

Meaning 7,68 billion pounds would be the total revenue of online gambling operators.

There are approximately 2,600 gambling companies in the UK, meaning that a company earns 2,953,846 pounds a year, or 246,153 per month and 8,205 pounds per day.

Again this is, on average, the reality is that a small portion of the best payout online casino sites has a significantly higher income.

Do Online Casinos Pay Taxes to the UK Government?

All companies that offer their content or services to the bettors of the UK must pay tax to the British government.

Currently, 21% of the gross profit is taxed, but this rate may increase down the line as it did in the past.

Players who win money via gambling activity don't have to pay taxes on their winnings, though.

Before this 21% tax, the taxed amount was 15%, but it was increased on October 1st, 2019.

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