I’ve always been a fan of odd jobs and side hustles, as highlighted in the side hustle series on Make Money Your Way. Today, let’s explore an industry that could be perfect for either a full-time career or a side gig for students: online gaming.
With the rise of online activities, it’s no surprise that the gambling and casino industry has adapted to let people play from the comfort of their homes. On sites like Casino.com, you can sign up quickly and choose from various games, including Blackjack and European roulette. You can play whenever it suits you, without the need to commute.
So, how can you make this pay the bills? I remember hosting a traveler who told me he financed his trips by playing online slot machines a couple of hours each day. He found it profitable enough to cover his travel expenses.
He shared that the key was to find less experienced players to compete against. Sometimes, he would join larger tournaments for the thrill of it, though mostly, it felt like a regular job to him.
Casinos are designed to make money, but some people do come out ahead. If you’re considering this route, it’s crucial to be very cautious. Never bet money you can’t afford to lose. For example, if you start with $50 and double it to $100, you should withdraw your initial investment and only risk the extra funds.
As my poker-playing friend advised, it’s about the long game. Making smaller, consistent bets is wiser than risking everything on a single large bet. This way, your losses are minimized, and your chance of winning increases. He mentioned he won about 70% of the time, which isn’t perfect but still favorable.
Patience is essential. If you enter a $10 game with the potential to either lose $10 or win $20 and play ten games with a 70% success rate, you could turn an initial $100 investment into $140. The key is to stay calm and not be tempted to bet more just because you’re on a winning streak.
Additionally, staying sharp and focused is important. An hour a day is a good start, and you can gradually increase your playing time. Remember, if you view it as a business, you need to be professional. Best of luck!