Blackjack isn't typically known for its win potential alone. Instead, it draws many players who want to use strategy to boost their odds of winning.
Dec 09, 2018 Win at or above these amounts, and the casino will send you IRS Form W2-G to report the full amount won and the amount of tax withholding if any. You will need this form to prepare your tax return. What You Need to Know Before You Start. You're finally in a twinkly, noisy casino. Before you start your journey to beating slot games, make sure the limits you play are in line with the amount of money you can afford to gamble, aka. Your bankroll (more on this later). Payouts: you should always know how much you can expect to win whether you play a popular game or a loose slot machine. Oct 15, 2020 But even the winners can be losers if they don't pay their taxes! Any money you win gambling or wagering is considered taxable income by the IRS. So is the fair market value of any item you win. Gambling income isn't just card games and casinos; it includes winnings from racetracks, game shows, lotteries, and even Bingo. I have some doubt.in a lot of places it's says if you win too much money in a casino, they could ban you. But, someone knows how much you can win without being banned? $1000, $2000 a month? I ask because i'm a roulette, blackjack, baccarat enthusiast and i think i can make some.
However, blackjack can deliver big wins under the right circumstances. Even if you don't collect serious profits, you still have a better chance to beat blackjack than most other casino games.
The degree to which you win, though, all depends upon the approach you take. This guide covers the different routes that you can take when playing blackjack and the win potential associated with each.
Straight Betting
Straight betting is the most-common strategy used in any type of gambling. It involves placing the same size of wager in each round. If you risk $1 on each online blackjack hand, then you're straight betting.
Anybody who plays real money blackjack for a significant amount of time usually varies their bets at some point. However, the average player sticks with a certain bet size until they either feel hot or cold.
Here's an example on how easy bankroll management is with straight betting:
- Your bankroll is worth $1,000.
- You risk $10 on each blackjack hand.
- 1,000 / 10 = 100 units
- You set a stop-loss limit of 10 units for any given session.
Considering that you never raise bets by a significant amount with this strategy, you don't have to worry about your bankroll wildly fluctuating.
The downside to straight betting, though, is that it doesn't offer big scores relative to your bets. You're instead relying on a major hot streak to truly cash in.
As long as you don't expect to win serious money, though, then straight betting is a relaxing strategy. You still have an outside shot to collect big profits if you do catch a rare hot streak.
Blackjack Systems
Blackjack players have been using casino betting systems for centuries. They enjoy gambling systems for their big win potential.
Plenty of these betting strategies exist. They differ based on their complexity and whether they call on you to raise or lower bets during win streaks.
If a system requires you to raise bets after wins, then it's known as a positive progression system. Assuming the strategy involves raising wagers after losses, then it's a negative progression system.
The latter are mainly designed to help you recoup potential losses rather than net big wins. Positive progression strategies, on the other hand, are all about capitalizing on hot runs.
The Paroli is an example of positive progression. It calls on you to flat bet until experiencing a win. At this point, you double your next wager.
Assuming you lose this bet, then you go back to the original starting wager. If you win, then you continue doubling bets. You only reset to the starting wager upon winning three consecutive rounds.
Here's an example on how the Paroli can help you book big profits:
- You bet $25 and win.
- You bet $50 and win.
- You bet $100 in win.
- Return to the original $25 wager.
- Total profits for this string = $175
The downside to the Paroli, or any other blackjack system, is that they don't overcome the house edge. Instead, they just manipulate short-term winnings.
You can actually accelerate losses when using a system. But provided you're okay with this and want to chase big winnings, then systems can still be worth trying.
High Roller Play
High rollers have always had an affinity for blackjack. Reliable online casino. They love that this game features such a low house edge and, as a result, a great chance to win profits.
Of course, online casinos don't feature extremely high stakes. However, most gaming sites do let you wager up to $500 per hand.
$500 a hand is definitely high stakes. If you get hot with this amount of money on the line, then you're looking at a big payday.
The first thing you want to do when preparing to play for high stakes is find the best blackjack odds. Most online blackjack games offer around a 0.5% house edge.
However, you can do even better than this if you look hard enough. Some online blackjack games feature as low as a 0.3% house advantage.
Unfortunately, the casino still holds the edge in such cases. But you'll nearly be in a coinflip situation with them. If you get just a little luck on your side, then you can win big.
The main thing to worry about, though, is what happens when you experience a downswing. If you're wagering anywhere from $100 to $500 per hand, then your losses will sting that much more.
I suggest that you have a really large bankroll if you're going to risk $100 or more per round. You should have at least $5,000 to comfortably play these stakes.
Progressive Jackpots
Online slots draw all the attention when it comes to progressive jackpots. However, progressive online blackjack also exists.
You aren't going to win millions of dollars when playing for blackjack jackpots. Nevertheless, you can look forward to some very large prizes.
Assuming you're dealt four suited aces within the same hand, then you'll collect the jackpot. The odds of this occurrence happening are just 1 in 6,454,650.
You can also win payouts for lesser hands, including the following:
- 3 suited aces = 5,000x the side wager
- 4 mixed aces = 2,500x
- 3 mixed aces = 250x
- 2 suited aces = 100x
- 2 mixed aces = 50x
- 1 ace = 5x
WGS Technology also features a progressive jackpot game with a $1 side bet. Its blackjack jackpot is currently worth almost $68,000 at the time of this post.
You win 100% of the progressive jackpot with four suited aces. You can win 10% of the jackpot by getting four aces of any suit.
Here are the other available payouts:
- 3 suited aces = 2,500x the side wager
- 3 mixed aces = 250x
- 2 suited aces = 50x
- 2 mixed aces = 25x
Online blackjack jackpots aren't going to let you retire early. But they definitely offer some serious money through both the jackpots and other side payouts.
Chasing Casino Bonuses
Most gaming sites feature online bonuses. Such might be available when you initially deposit (i.e. welcome bonus) and/or when you place subsequent deposits (i.e. reload bonus).
The most-common online blackjack bonus is a deposit deal. These offers match a portion of your deposits up to a certain amount.
Here's a specific example of how they work:
- An online casino gives an offer of 100% bonus for blackjack worth up to $250.
- Your deposit is in the amount of $100.
- 100 x 1.0 = 100
- You now are qualified for a bonus of $100
The bonus funds will be available immediately for real-money blackjack. You can't cash out the funds, though, until you've met conditions and special terms.
Make Money Casino
You definitely want to know every term behind the deal. However, you should pay special attention to the rollover (a.k.a. playthrough).
Rollover determines how much you'll need to wager before the money is actually yours. Low rollover is better because it doesn't force you to risk as much.
What's the Best Approach for Winning With Internet Blackjack?
Most gamblers prefer straight betting with slight variations based on their results. Many of the same players increase wagers when they're really hot in order to capitalize.
Of course, you don't necessarily need to do what most player gamblers are doing. After all, straight betting doesn't offer big winnings when small stakes are involved.
Systems provide a nice way to capitalize on hot streaks—especially the positive progression variety. Just keep in mind that they won't help you overcome the long-term house edge.
High-roller play is worthwhile when you have a large bankroll. It can deliver huge wins if you're comfortably able to bet $100 per hand or more.
Progressive blackjack is the best way to turn a few dollars into massive payouts. The odds may be against you winning a jackpot, but you at least don't need to bet much to play.
As you can see, no one route is perfect when trying to win online blackjack profits. You should choose the option that best suits your individual situation and goals.
Conclusion
Outside of card counting in land-based casinos, the house always holds an edge in blackjack. However, this edge is smaller than what's seen in most other casino games.
That said, you have a solid chance to win in online blackjack with the right strategy and approach. Regarding the latter, you can go with any of the routes discussed above to achieve your desired winnings.
How Much Money Can You Win At A Casino
The betting strategies covered throughout this post don't guarantee profits by any means. Depending upon your choice, though, the right strategy will help you win whatever amount you're looking for during a hot streak.
