Anyone will always get excited when actual cash is at stake as the reels spin. Unfortunately, there have been numerous online slots involving money, but players are not getting their winnings in cash.
To know if you can win money on online slots, we help define the term real money casinos in this article.
Playing Real Money Slots
You will want to find real money casinos if you intend to win actual cash. Online casinos that take in and give out actual cash have a platform to process money transactions.
Another type of online slot available is those from social casinos. The platform hosts online slots that play the same as those in real money casinos. Its slots even utilize the same complex RNG as real money casinos. You can even find ones with similar mechanics and themes as titles made by popular software providers such as Betsoft and IGT. These types of software tend to be integrated into social media or mobile apps.
Despite being capable of allowing players to buy casino chips with actual money, social casinos are not capable of turning those chips into actual cash. The casino platforms are not capable of any transactions, nor are they allowed by law to directly reward players with real money.
Real-money casinos have platforms that support various payment services, such as credit cards, e-wallets, online banking, and even cryptocurrencies. The payment support allows operators to accept money from their patrons and pay them in actual cash.
Apart from accepting and dispensing cash, real money casinos also need the proper license while operating within specific jurisdictions. The casino license requirements prove that the operator's business, banking details, and identity are legitimate.
Note that a license is not required for a real money casino to accept cash. Operators are the ones who require a license to avoid getting in trouble with the law if they allow genuine money transactions on their platform. One example is Bitcoin casinos that can accept and payout crypto coins.
How To Get Rich With Online Slots
Now that we know about real money slots, we go over how to win at slots on these platforms. There are different methods we go to win, which depends on how you define the word. If you are thinking of taking home a small fortune, the kind you can win from the Powerball Lottery in the US, you want to target high variance slots.
Variance or volatility measures a slot's risk for each spin. The higher the volatility, the riskier it gets to win each spin. Because of its high risk, each win tends to have higher payouts than other slots. There are several factors regarding the number of cash returns you can get from high variance slots, such as a wide range of features. These slot features tend to grant players massive cash prizes, such as free spins with bet multipliers, wilds with multiple features, or cascade reels that grant players a free re-spin for each match. One of the most extensive paying features you can find in progressive slots.
Progressive slots are titles with jackpots that grow from each player's stakes. To get a shot at winning this jackpot, you need to trigger a specific feature, such as a prize wheel with the jackpot prize within one of the wheel's squares. Another feature is triggered by having five or more special symbols land on the reels that grant you three re-spins. The aim is to fill the empty spaces with special symbols throughout those re-spins. Filling a row will grant you one of the low-end jackpots while filling the entire reels grants you the mega or main jackpot prize.
Remember that you will need a large bankroll no matter what slot machine strategy you use to win high variance slots. Increasing your spins per session can increase your odds of triggering any of the high payout features of a slot.
Use Low Variance Slots To Keep Your Money
Winning is not just about getting rich. It is about walking away with more money than when you sit in front of a slot machine. Low variance is how to win on slot machines. These slots tend to reward most of your spins with a payout. However, the returns for these wins are significantly lower than games with higher variances.
RTP or return to player is the statistical rate of how much money all players can get from a slot. If a collection of players stake $100 on a slot with an RTP of 98%, that slot will return $98. Note that this return is distributed among the players while the house keeps the $2. With this in mind, you can walk away with more winnings from a high RTP slot than once. You can also find low variance slots with higher RTP rates to get a slightly better payout.
Every casino has a welcome package, free spins, reload bonus, and other promotions where you can receive in-house credits. These credits come with a wagering requirement where you must spend your bonus several times before withdrawing them. If the wagering requirement is 20X and you got a bonus of $500, you need to wager a total of $10,000. Despite the low returns, low variance and high RTP slots is a good way of clearing the wagering requirement of any online casino bonuses.
Using that $500 bonus on low variance slots increases the odds of completing the wagering requirement while having the total amount intact. Taking advantage of low-variance games is one of the best ways to win at the casino since the bonuses turn into free money.
Keeping Safe While Winning Money On Online Slots
Because real money is involved, there are rogue or phishing sites pretending to be legitimate casino platforms for online slots. Here are ways to keep safe when visiting any real money casinos.
Use a Secure Payment Method
It pays to use a payment method with added security for its users. This includes a payment service company that can reverse the transaction if you transact with a fake casino.
Remember that credit card and e-wallet companies tend to side with the customers, where they will reverse the transaction immediately. This means they can accidentally undo legitimate transactions with casinos without realizing it. Using this method with a legitimate casino can land players in trouble.
Verify A Casino's License
It is not enough to pick a casino that has a license. Some criminals can make their site look legitimate by including a logo of the MGA, UKGC, Isle of Man, and other regulators.
You can verify a casino license by clicking on the regulator's logo. Doing so will take you to the regulator's page, where the operator's license details are displayed.
Stay Away From Blacklisted Casinos
There are online casino directories that have formed a blacklist of operators. Those who are a part of the blacklist have not completed the withdrawal of their patrons or have abysmal customer service. It pays to go through a couple of online casino directories to see if the site you are planning on visiting is a part of the blacklist.
Only real money casinos allow you to win money on online slots. High variance slots allow you to win a large fortune with a high risk of exhausting your bankroll, while low variance slots let you win a small profit with less risk.
This article was published on December 9, 2022, and last updated on November 22, 2022.