There are two games which allows you to earn a living on online casinos, both which require significant skill. While using deposit bonuses and other promotions you can earn money in the shorterm, there are two major ways to actually make a living gambling on online casinos. The first is sports betting, and the second is poker.
While sports betting is a way for gamblers to earn a living, this article will be focused on the second way, poker. This is because for many people poker has a lower learning curve and can be profitable much quicker than sports betting, which has plenty of misleading information and guides available online. As well, sports betting sites often bar or limit the bets of players who are consistently winning. This is much less likely in the poker world, although some “gray-area” poker sites that are operating with shaky legal basis have banned poker accounts that are winning at a high rate.
Poker is way for people to earn money online using online casinos. This is in particular promising to people living in third world countries where the average income is very low. It is possible to exceed the average income in your country by playing very low stakes of poker, sometimes even by playing many tables of 1 cent USD 2 cent USD blinds, with a maximum buyin of 2USD.
For those who live in developed countries, poker is much less promising. While players can succeed at the microstakes with only a limited amount of training and by using free guides on how to play online poker, the earning potential is limited. With a few months of training and study, it would be possible for someone with a small degree of natural talent to be able to win at a game with blinds of .05/.1 on a site with a low skilled pool at a rate of 5bb/100. 5bb/100 simply means that for 100 hands, you will win 5 big blinds, which in this case is 10 cents a blind. That means that for each 100 hands you play, you will earn on average 50 cents American.
How many hands can you play an hour? If you play 6 tables, which would be difficult for a beginner, you could average 300 or more hands an hour. That equates to an hourly wage of only $1.50!
While this is a good wage in many parts of the world, it is not acceptable for first world countries. Even playing at blinds of .25/.50 would only earn you a win rate of $7.50 an hour, and beating these stakes is no easy task. Even players who have studied the game for a year may find themselves unable to win at these levels of play.
What does this mean for earning money from online casinos? Well, unless you have the dedication and skill to move up through the stakes to higher limits, playing poker is better used as a hobby and not as a way to make money. However, if you are disciplined, have natural talent and the drive to succeed, you could move up to stakes of $1/$2 blinds and have earning potentials of upwards of 30USD an hour, which is a good wage almost anywhere in the world.
Follow bankroll management, read guides, play, and study hard, and you could find that you are able to succeed in the highly competitive world of online poker.