Low-Risk vs. High-Risk Betting: Which Is Best for You?
There are so many ways to gamble, and so many online casinos you can gamble in. MintDice.com is a unique online casino, as it allows you to pick the level of risk you want to bet with.
With three different levels of risk available (low, medium, and high), how do you know which level of risk is best for you? Keep reading, and we will discuss the different risk levels and how you can choose the right one.
Which is Better: High-Risk Slot Machines or Low-Risk Slot Machines?
MintDice.com has multiple slot machines, allowing you to choose your risk level with each spin. That being said, there is no one slot machine that is better or worse than another.
Rather, the machine you end up choosing depends on several factors—such as your bankroll, risk tolerance, and style of play. Additionally, just because you might feel like a high-risk machine is better for you one day, it doesn’t mean that will always be the case. It is okay to choose a high-risk machine some days, and a low-risk machine other days.
Why You Should Choose Low Risk Gambling
Although it might seem like a given that low-risk games are better, this isn’t always the case. There are several times you should pick low-risk games, but it shouldn’t be your default. Here are the times when low-risk gambling is best.
1. When You Are New to an Online Casino
All online casinos are different, so when you first start gaming on a new one, always pick the lowest risk option. The low-risk selection will allow you to get to know the games and learn what each button does without losing a large portion of your bankroll.
2. You Don’t Have a Lot to Lose
Another good time to pick low-risk betting is when you can’t afford to lose much money. While this might be a given, know that low-risk also means low-reward, and you won’t be able to multiply your money as quickly.
3. You Struggle Mentally With Losing
Scientific studies have shown that losing can have a negative effect on some individuals—particularly perfectionists—and that their entire day can be thrown off by a single loss. While we can’t guarantee you won’t still lose, low-risk machines will have you losing less frequently and will have less of an effect on your mental health.
4. You Want to Game For a Long Time
Low-risk machines typically return a larger portion of each bet—allowing you to game for longer. If you just want a chill afternoon with some social gaming while you chat with friends, then low-risk is the way to go, so you can hang out all afternoon instead of just for an hour.
Why You Should Choose High-Risk Gaming
High-risk gaming isn’t always a gambler’s first choice, but it does serve its purpose. Below are the times when you should choose the higher risk machines at an online casino.
1. When You Are Craving a Rush
Higher risk gambling has been shown to increase the release of dopamine by the brain. So, if you are headed to a casino just for the rush and don’t care if you win or lose, then you’ll want to choose the higher risk option so you can get the most adrenaline for your money!
2. When You Want to Win Big
The saying is “high-risk, high-reward” for a reason. Oftentimes, the machines with a higher minimum bet pay out more. Of course, you may lose more in the process, but if you are searching for the big win, you won’t find it on the low-risk machines.
3. You Want to Go Pro
It’s no secret, most professional gamblers seek out the high-risk machines. This is because they know that these machines are worth it. While you need to have a heart of stone for every loss you accumulate, the machines with the high-risk levels are the ones that are most worthwhile for career gamblers.
4. You Have Limited Time to Game
Just as low-risk gaming ensures you can game for a longer period of time, high-risk machines are likely to bring you to the end of your bankroll sooner (unless you get a big win, of course!) so if you only have an hour of free time during which to game, you might as well make the most of it and choose high-risk machines!
5. When There is a High House Edge
All casinos have a house edge (a portion of your original bet or win given to the casino so they can keep their doors open). Generally, the house edge is affordable, and you will barely notice it. However, some casinos have large house edges, and in these cases, it’s better to make a few large bets than several small bets, because you are losing money with each bet.
For example, say you have $50. You can place 5 “high-risk” or large bets for $10 each. Or, you can place 50 smaller, $1 bets. Let’s say the house edge is .10 per bet.
In this example, you would pay the casino .10x50 for the low-risk strategy (or $5.00) and .10x5 (or 50 cents) for the high-risk strategy.
Of course, most casinos operate on a percentage system (which would negate this) UNLESS the percentage is only paid on wins. In this case, if you only pay house edge when you win, then it is in your best interest to win larger pots (or rewards), which would, again, favor the high-risk betting strategy.
Obviously, this isn’t an end-all because all casinos process house-edge differently. Regardless, if you are looking to gamble more frequently (not just for fun once in a blue moon), you should learn the house edge of your chosen casino and take the time to calculate to find out if one betting strategy is better than another.
Remember, career gamblers often do this, so if you follow them, you’ll find yourself in the best area of the casino for paying the least house edge. And, in general, it will be the games with the highest risk.
