Best Ways to Gamble for Money

When I started taking gambling seriously, I asked myself the question “what is the best gambling game?”. Or in other words, “what are the gambling games that offer the best odds of winning?” The answer I discovered wasn’t that surprising at first.

The more skill the gambling game involves, the better your odds of winning, if you use correct strategy.

That sounds simple enough right? But I still needed to learn which games were best based on my own knowledge and skill set.

In this article, I’ll share with you the differences in games of skill and chance, plus my list of the best ways to gamble for money.  

Gambling Games of Skill Versus Games of Chance

Generally speaking, gambling games are all “equal opportunity” games, or games of chance. This implies that any honest game, if played forever, offers you the same chance at a payoff as any other player in the game.

Anything you find in a casino is a game of chance, but there is a subset of these pastimes. There are games of chance that also incorporate some skill.

These games of skill offer players the opportunity of increasing the chance for higher payoffs by making smart playing decisions,. Learning how to make smart decisions when playing is necessary to become a truly serious and successful player.

The most obvious game of chance in a casino is a slot machine. Slots are most popular because they offer high payouts for less money wagered, and can also be the most exciting.

However, there is little a person can do to alter the outcome of a game of chance in their favor. The odds remain the same for every spin.

Outside of the casino, all sports betting and most card games are considered games of skill. These games require the player to make decisions during game play that affect the outcome of the game.

A game without such decision-making is not a true game of skill. Because skill is required, you can increase your odds of winning a skill game by being knowledgeable about the game mechanics, and making the right decisions based on proven betting and playing strategies. Professional gamblers stick to games of skill for precisely these reasons.

Casinos try to limit the winning potential of skill games by imposing calculated rules, betting limits and payout schedules. The payout schedule determines how much a winner will be paid out for winning a game.

Best Gambling Skill Games to Play

Below, you’ll find my list of the best gambling games to play for money.

1. Poker (Texas Hold’em, 7-Card Stud, Omaha, etc)

This is by far my favorite gambling game – if you can even call it that. The reason poker is the best gambling game is because you’re playing against other players instead of the casino.

Poker rooms take a very small percentage of each pot called “rake”. It’s like a fee for hosting and dealing the poker game.

There are various forms of poker, usually incorporating 5 or 7-card hands. Poker’s objective is to form a hand of cards in order to win the pot of money that players bet.

When to bet and when to fold is the most important strategy in this skill game. One of the most popular forms of poker today is a variation known as Texas Hold ‘Em, which involves making your best hand from two “hole” cards that you hold and five cards laid out on the table.

High-stakes tournaments for Texas Hold ‘Em have been immensely popular, especially with some celebrities.

You can even play poker online for real money against players from all over the world. Playing online is probably the best way for players to learn the game quickly.

My favorite site is Full Tilt Poker because of their easy games (bad players), the fact that I can play for stakes as low as $0.01/$0.02 or as high as $500/$1000, and because they accept US players.

Play against the easiest poker opponents at Full Tilt Poker 

2. Sports betting

Sports betting is a highly popular form of gambling. Analyzing sports-related information and figuring out betting situations is a necessary skill to get ahead in this game.

Betting on the outcome of various sporting events, players can bet on most professional and college matches, including basketball, baseball, and football.

The important thing to remember when betting on sports is that, you’re up against other professionals who make a job of analyzing all the necessary sports data to determine their bets.

Online sports betting has exploded in popularity over the past few years. No longer do you have to go to Vegas to bet on sports. If you’re interested in sports betting, make sure to use a reputable site like Sportsbook, who has been around since the early days of the Internet.

Bet on Your Favorite Sports at Sportsbook

3. Horse Race Betting

Similar to sports betting, this game involves betting on the outcome of a race in which horses compete against each other. Picking the winning horse, or a horse that places in one of the top three positions, is the objective here.

Consulting racing forms, a practice known as “reading the sheets,” combines with placing bets, evaluating odds, and finding the horse and jockey with a winning edge, as key skills to develop if you’re interested in horse racing.

Just like with betting on sports, racing fans can bet on horses online. For horse race betting I really like Bodog’s Racebook.

 
Blackjack – This game, unlike poker, involves players betting against the house each hand. Also known as 21, the object of blackjack is to form a hand that adds up to a total higher than the dealer’s hand, but not exceeding 21. A perfect hand in this game is a blackjack, equaling 11 points, and a ten. Together they total 21, the winning combination.

Craps – Craps is a dice game played on a special table. Truly a game of chance, knowing when and how to place bets is a definitely worthy skill to develop, allowing the chance to increase your winnings. Players make bets on the next roll of the dice, with the house paying out depending on the outcome of each roll.

Video Poker – Sharing a lot similarities with slot machines, video poker machines can be chancy. Knowing which cards to hold in your “hand” and which machines to play are the skills that can help you come out ahead of the risk.

Pai gow poker – This card game is played with a 52-card deck, plus one joker. Each player is given a seven-card hand. A hybrid, this game combines elements of a Chinese domino game known as pai gow, and traditional American poker. Being able to form a winning five-card poker hand, and another two-card hand, is the skill necessary to master pai gow poker.

Like with all games you play for money, especially casino games, you need to find the places with the best odds. One of the best gambling sites I’ve found for odds is Bodog. They offer an all-in-one poker, casino, sportsbook, and racebook that should appeal to people who like to bet on a variety of games (like me!).

Signup here to get a 10% unlimited deposit bonus at Bodog

Games of Chance

Some games of chance do provide the opportunity for a slight edge to the player, but only if the game mechanics are understood beforehand. However, most of these gambling games should be avoided if you want to win money long term.

Lotteries – The worst of the worst

A lottery is a game of numbers, usually used by individual states to generate money.

Sponsored by the state government, playing the lottery involves buying a ticket at a supermarket, convenience store, or other location. The numbers are chosen from a limited number pad, and if the numbers on the ticket match the numbers drawn later, the jackpot is awarded.

These games have astronomically high odds of winning and have been referred to by many as “a tax on the poor”. Playing the lottery can be fun, but don’t make a habit out of buying tickets.

Bingo – Bingo is another numbers game of chance. The player must be the first to fill in a designated pattern on a game board as each number is called from a field. The field includes 75 numbers.

Keno – Keno is usually found in casino restaurants or specific keno lounges. Another numbers game, players choose between 1 and 20 from an available 80 possible numbers. The rest is hoping the player’s numbers are drawn during game play.

Baccarat – Originally from France, Baccarat is a pretty simple game. Two hands are dealt, one for the player and one for the dealer. Players then bet on whether the player’s hand or dealer’s hand will be closer to a total of 9. The dealer does most of the work in this straightforward game.

Roulette – A spinning wheel provides the element of chance in Roulette. Players bet on which number the ball will land once the spinning wheel stops.

Slot Machines – Also known as “one-armed bandits,” slot machines helped build Las Vegas. Players bet on each spin of the mechanical or video reels. People spin the reels hoping for the big jackpot to payout, but simply winning back the original bet counts as a win, too!