Finally, a system with truly guaranteed profit

Yeah I've developed a system which is guaranteed to profit. Here's what you do: get a credit card with cash-back rewards. It's pretty easy to apply for one with 1% cash back. Now, most casinos don't let you buy chips with credit cards (or have a high transaction fee), so you have to play online. Alone, the 1% cash back on your credit card will overcome the house edge. Throw in a good welcome bonus or loyalty bonus and your 1% cash back will rectify the statistically built-in loss due to minimum wagering requirements. Since the best way to profit from this is to max out your rewards credit card each month, it's best to find a casino that will pay you promptly and directly through an electronic deposit to your bank account. The only casino I have found to do this is English Harbor. It makes managing your credit card a lot easier because sometimes when you cash a $2000+ check at your bank they have to put a hold on it for a week or so while it is verified.

I've tried this strategy for two billing-cycles of my credit card and have been successful so far. Thoughts?

I have never seen a credit card that gives 1% back on your purchases; instead, they give you 1% back on those purchases that have incurred interest charges. If this is true, you are paying, say, 8% interest instead of 9% interest. That's a lot of interest to overcome. If you had other charges against you credit card that were carryovers from the previous period, or that were charged but not paid during the current period, it might seem like you are getting 1% of the total amount, but I don't think so.

My Bank of America card gives 1% back on purchases in increments of $50. Meaning if I have $62 I can credit my account $50. My Discover card gives 1% on purchases in increments of $20, and 5% on different things or places depending on the special that quarter. From 7/1 through 9/30 one of the things is gas.

BTW, I never pay 1 cent in interest.

I'm in the same boat. My discover card gives 1 or 2% cash back and I pay my bill completely each month. Never have paid a cent of interest on that card.

Alone, the 1% cash back on your credit card will overcome the house edge. Throw in a good welcome bonus or loyalty bonus and your 1% cash back will rectify the statistically built-in loss due to minimum wagering requirements.

I was wondering myself why this fell under the Voodoo heading.

My corporate Amex DOES give a percentage back on all purchases, as a credit at the end of each year. It's either 1 or 2% depending on the yearly total. Having interest charges (which I never do) has nothing to do with their cashback payments.

Well, the subtitle of this board is "Discuss betting strategies other than card counting", I guess that's assuming that all strategies other than card counting do not work. Plus it was one of those things that made me think: did I just discover a guaranteed system to profit from casinos that no one thought of before? There must be a catch. Kind of like when I "discovered" the martingale, which is what brought me to these boards in the first place Perhaps move this to the general board?

I actually discovered this strategy on accident. A while ago ago I received information from my credit card company announcing their new rewards program. I threw it away thinking there was no way I could currently afford making thousands of dollars of purchases to make it worthwhile. But then I received a letter in the mail about half a year later asking me to claim my $45. I was surprised at first but then remembered I had been using my credit card to play blackjack at online casinos, and it all clicked.




Yes, the interest rates for rewards cards are naturally higher, but I never have and never will carry a debt on my credit card. Although, one other thing I thought of: Say you have $1,000 of debt on one credit card that you can't currently pay off. Use another credit card to buy $1,000 of credits at an online casino. Cash out electronically to your bank account. Use the money to pay off your first credit card. Basically, you have just swapped the debt to your second credit card and bought yourself ~45 more days of interest-free time to pay it off. Still don't have enough saved up? Do it again, vise-versa. Add in a cash-back rewards program, and you could theoretically pay off your debt without scratching your bank account (of course this is a bit on the extreme end). Essentially just a good way to avoid paying interest over a longer period of time. Just a theory, but it's interesting to ponder about :devil: