It’s one thing to earn money from hard, honest labor, but the excitement of winning money is something else.

This article will explain how you can optimize your chances of winning money at online casinos.

We will guide you through the odds, explain why certain online casinos are better than others, the games, bonuses, jackpots, withdrawals, and more.

So grab a coffee, lean back, and after reading this, you will fully understand your options and possibilities for winning money online when playing casino games.

The Odds of Winning in Online Casinos

Let’s start with the essential fact; all casino games are created with a house edge, so the casinos will always be the only winners long-term.

Long-term, as in after billions of rounds.

Although the odds are stacked against us players, the casino games are designed so that the majority will lose, but a few will also win. Some games can pay out big wins, while others have smaller win potential.

Two factors determine how much you can win and your chances of winning money online. These are called Return To Player (RTP) and volatility. 

RTP Explained

The RTP percentage determines how much of all wagering is paid back to the players.

For example, when following a perfect “basic Black Jack” strategy, your RTP percentage can be as high as 99.6%, while a poor BJ strategy will burn through your bankroll faster.

On the other hand, online slots usually pay back around 96% RTP if choosing the best version of a slot (we will get to this soon in more detail).

To reverse the RTP from an online casino’s point of view, if the RTP is 96% on a casino slot, then the casino’s long-term win margin is 4%.

Volatility Explained

The second vital option that you have is to choose how volatile you want your online casino game to be.

Let’s focus on online slots to give you a good example.

A slot like Tombstone RIP is extremely highly volatile and can pay wins of up to 300,000x your bet size per spin.

With a minimum bet of 0.10, you could win up to 30,000.

The downside with a risky slot like Tombstone RIP is that most players will lose their balances fast, while a few lucky players can win big.

The max win probability on this slot is 1 in 130 million rounds.

On the other side of the spectrum, we find a low volatile slot like Starburst that is extremely popular online.

In Starburst, you can “only” win up to 500x your bet size, but this is a much less-risky slot as your money will last much longer. The game pays more frequent low- to medium-size wins than a riskier slot.

To find the type of slot that interests you, go to our Slots tool, segment the games through the variation option, and choose between low, medium, high, and extremely high volatile slots.

What is the Best Online Casino for Winning Money Online?

When choosing which online casino to play at, you should focus on a few things, including:

• The online casino must be properly licensed.
• It has to be trustworthy.
• Make sure that the casino offers a wide variety of games.
• The slots payout percentages as these vary depending on the casino.

Through our research of testing hundreds of casinos, we have picked out 10 top-rated online casinos as the best ones to play at.

Why Checking a Game’s RTP Matters

This is the topic that CasinoWizard.com specialize in and where we can provide you with information that can’t be found anywhere else.

Most online casino slots are created with several different RTP configurations.

For example, one of the most played slots online, Book of Dead, is available in the following RTP versions: 84.18%, 87.25%, 91.25%, 94.25%, and 96.21%.

Online casinos can then choose which RTP version to offer their players. 

This leads players to think that they might be playing Book of Dead on the best-paying version while playing on a low RTP version.

The higher the RTP is, the more spins you will get on average. The more spins you play, the more chances you have to trigger the bonus games where the most significant wins can be won.

Our slot reviews guide you toward high-RTP casinos of each game where you play on the highest RTP version.

Popular Games for Winning Money Online

Some of the most popular casino games online include slots, jackpots, table games like Black Jack, Roulette, and more.

Slots

There is an endless variety of slot games with different themes, features, volatility, and max wins.

Check out our Top 10 slots with the highest-max wins list if you’re interested in the possibility of winning big.

Jackpots

Jackpots are popular as you can win millions in some cases but only need to risk cents per spin.

Some popular classic jackpots include Mega Moolah, Mega Fortune, and Mega Fortune Dreams.

Newer jackpots with a fresh approach and must-win thresholds can be found in the new Dream Drop jackpots.

Table Games

Classic table games like Black Jack and Roulette can be found in most online casino game lobbies, with various options of bet limits from low to high.  

Live Casino

Playing Live Casino games online is even more popular these days among players looking for some table game action.

You play games against a real dealer being streamed live to your device. The user experience is as close to a land-based casino as possible, with the difference that you can play from the comfort of your home.

How do Jackpots Work?

Progressive jackpots are popular due to the big winnings that can be won. Who hasn’t dreamt of winning a big jackpot one day, right?

These jackpots constantly grow until won, as a small percentage of each bet goes towards the jackpots.

Usually, a jackpot slot consists of up to four jackpots. Rapid, Midi, Major, and Mega jackpots.

The smaller jackpots are paid out quite frequently and bring smaller wins, while the Major and Mega jackpots are rare but occasionally won, as otherwise, no one would play these games.

Popular jackpot slots like Mega Moolah and Dream Drop jackpots often have millions at stake on their Mega jackpots.

To win a jackpot, you just spin normally, and at random, a special jackpot bonus game can trigger where you have a chance to win one of the jackpots.

Strategies for Winning in Online Casinos

When playing slots, there is no winning strategy available. Instead, you need to make some choices before playing:

• Your bankroll.
• Bet size per spin.
• The volatility of the slot to play.
• Ensure that you play on the best RTP version.

Remember, the higher the max win on offer, the riskier the slot. The cardinal rule is to never play for more than you can afford to lose and never chase your losses.

Decide your budget before you start playing, and stick to it. To your help, you can also use online casinos’ deposit, bet, and time limits so you never exceed your decided limits.

To get the best experience while playing, check the slot game rules to understand the ups and downs of the chosen game. You can also simplify this by having a quick look at our slot reviews, where we summarize all the nitty-gritty for you.

However, when playing Black Jack, you can increase your odds by following “basic Black Jack practices,” as this is the proven best way of playing Black Jack long-term from a mathematical point of view.

Maximizing Bonuses and Promotions

Online casinos often offer welcome bonuses to new players to incentivize players to register a new account and make a first deposit.

Any casino with a functioning CRM team also offers active players different tournaments, promotions, VIP programs, and other bonuses while following the jurisdiction’s laws.

So how can you benefit from these bonuses and promotions the most to help you win money online?

Turns out that there are 10 essential rules to get the most out of online casino bonuses.

Some of these include:

• Play low to medium variance slots with high RTP.
• Calculate the bonus potential worth before accepting it.
• Understanding the bonuses wagering requirements, and more.

Handling Casino Winnings and Withdrawals

We play online casino games to be entertained and hopefully win some money while doing it, and if lady luck is on your side and you do end up with some winnings in your account, you might decide it’s time to cash out.

When withdrawing your casino winnings, you need to use the same payment method you used when you made your deposit. This is called a closed loop and is a legal procedure to prevent money laundering and other criminal activities. So this is a standard procedure that all licensed online casinos must follow.

To withdraw your winnings, go to the casino’s bank or withdrawal section, decide how much you want to withdraw, and follow the instructions on your screen.

Once the withdrawal has been made, the casino’s finance department needs to approve the request, and thereafter it depends on your payment method how long it will take before the funds have been transferred to you.

Nowadays, most top online casinos prioritize withdrawals to maintain a good user experience and hardly want customers to experience unnecessary delays before they get their funds.

Withdrawals to VISA, Mastercard, and Bank accounts can take up to a few days, while withdrawals to internet wallets usually are processed instantly or within hours. 

Examples of Real-life Winnings Online

There are hundreds of online slots available with ranging sizes of max wins, but a good source to find examples of real-life winnings is Youtube by searching on a specific slot title + big (or max) win.

Just keep in mind that these wins are often uploaded by slot streamers specializing in playing casino slots for hours per day. Due to special bonus offers from casinos to showcase their games or sponsorship deals, they often have bigger bankrolls than we mortals.

Legit slot streamers play with real money, though, and it can be fun to see what is required to hit a max win on your favourite slot.

Other examples of huge wins online include a £17,879,645 win on Mega Moolah that has also been mentioned on the Guinness World Record website.

Conclusion:  The Thrill of Winning Money in Online Casinos

There you have it, it is possible to win money online, but it’s important to be aware of the cons and pros and understand how it all works when playing online casino games.

If you want to give online casinos a go:

• Start with deciding your budget and bet limits.
• Choose a safe and trusted online casino.
• Decide what kind of game you want to play.
• Ensure you play on the highest RTP version by following the CasinoWizards guidance.

The rest is up to lady luck.

Always play responsibly, and although you wish to win money online, remember that it’s gambling, and no wins are ever guaranteed, as the odds are against us.

Some lucky players can win huge wins, but the reality is that most of us will lose.