Gambling has been there since the Paleolithic period. Back then, gambling was a form of entertainment in almost every civilization. But fast forward to the 19th and 20th centuries, gambling has grown leaps and bounds to become one of the world's largest and most critical industries. Besides the dealers and other casino employees, many players make a living from gambling.
So, the following 3-minute read looks at the intriguing history of betting and other things you need to know about online gambling. Read on!
History is a bit confusing regarding when the first gambling site was launched. While Microgaming claims to have launched the first online casino in 1994, some believe it was InterCasino in 1996. So, to put the debate to rest, Microgaming launched the pioneer online casino, Gaming Club Online Casino. This casino had a few games like poker, roulette, and craps. Note somewhere that Microgaming also launched Cash Splash in 1998, the first online slot progressive jackpot.
It was a pipe dream to play live casino games alongside other players and dealers a few decades ago. That's because the internet and mobile technology were still very far behind then. But after the 3G internet was introduced in 2003, this dream started becoming a reality. Actually, the first live online games were launched just before Android and iPhones. These innovative devices have only made it better.
Numerous online gambling systems promise immediate returns. One such strategy is the Martingale system based on positive progression. Here, players double their bets after every loss. For example, you can wager $10 after losing $5, and so on. But although you might recoup the lost amount after a win, this is never assured. Therefore, the Martingale system will only eat through your bankroll before you know it.
Are you a fan of craps and roulette? Then should know even-money bets. These are wagers that payout 1:1. Good examples are bets such as pass or don't pass in craps and odd or even in roulette. Although the payout is less in such bets, you stand an almost 50% chance of winning the wager. For this reason, it's recommended to use betting systems like D'Alembert and Martingale on even-money bets.
Playing craps and roulette using a betting system is undoubtedly rewarding. But the reality is that these games and others like slots and baccarat are luck-based. In other words, players stand there and wait for the outcome after placing a bet. Conversely, games like blackjack and poker allow players to use strategies to win the round. For instance, poker players can decide to stand, fold, check, raise, or double down. On the other side, advanced blackjack players can count cards.
No matter which strategy you use, the sad reality is that the house always comes out top. Consider this; you play Texas Hold 'em Poker with an optimal strategy and reduce the house edge to around 0.5%. As good as it sounds, the casino still has that slight edge over all the bets you make. Even in 1:1 bets, you still have a more than 50% chance of losing. But that's not to say players can't win a few rounds here and there.
When playing at the best online casinos like BK8 Casino, you'll get a welcome bonus or a loyalty reward. But do you think the casino gives away free money just like that? Casinos often ask players to deposit a minimum amount before claiming the reward. As if that's not enough, they'll ask players to play with the bonus a number of times before withdrawing anything. These casinos know very well that the house edge will prevent you from winning anything tangible. Now you know why most bonuses are tied to luck-based slots.
Not everyone is destined to be a loser at an online casino. With careful selection of games and a bit of strategy and luck, you can always win in the long run. For example, you'll win more on slot machines with higher hit frequencies of 30% or more. Also, professional poker and blackjack players win more often. And most importantly, learn to walk away as soon as you add something to your bankroll.
There are hundreds of online gambling facts to discuss. As you continue playing and gaining experience, you'll realize that some instances are simply more profitable than others. But the painful truth is that no betting strategy has proved effective so far. Also, the house edge is a 'devil' that you must live with at the casino. So, play for fun and enjoy… the lucky wins!
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