Casino Offers and Matched Betting
Up until now all the matched betting has been done by taking advantage of sportsbook offers, what this guide will explain is how we can use a bookmaker’s generosity (or greed rather) to exploit online casino offers as well!
Introduction To Casino
Casinos - they’re those exclusive and glamorous looking establishments seen in James Bond etc, right?...wrong, if you’ve ever visited one in the UK you will understand the movies version is a stark contrast to the reality. They’re not glamorous, but what they are is a goldmine for those who own them and the success of casinos has meant that online bookmakers have moved popular casino games onto online versions of the game.
Due to the lucrative nature of online games for the bookmaker, they offer out extremely generous welcome bonuses to entice sportsbetting punters to ‘give them a try’ - and that’s where our money-making opportunity comes from.
Important to note
Just because a casino offer is profitable to do, does not mean it's risk-free. They are worth doing because in the long run you’ll make more money from them than you’ll lose, but you have to be prepared that you could get unlucky and lose your initial deposit on some of them. The next section will go through why this is and explain how to identify offers that are worth free £s.
I want to make something incredibly clear - don’t be greedy. If you continue to play casino games outside of the exploitation of the over-generous offers, in a hope to get lucky and win big...you will lose - the casino always wins.
Casino Bonus Offers
200% bonus up to £20 - which translated means that if you deposit £10 you will receive 200% of the deposit value (£20) in free bet bonus. The bonus amount is added instantly and will come with wagering requirements (usually 30 times). So before you can withdraw you will need to wager a total of £600 in this example.
£20 an hour.
It will sometimes work out as more, sometimes less. But it should even out at around £20/hour so long as you're picking profitable offers.
When to complete the offers
Keep an eye out for any valuable casino offers whenever you're going to be doing daily sports offers. Spend around 45 mins a week completing any profitable ones you find.
Your Profit Explained
Before we get to explaining how we make casino offers profitable, we must first understand ‘how casinos make their money’ and how it means we can get an edge over the casino. You know the saying, “casinos always win in the long run” - sadly it’s true and it’s due to something called ‘house edge’, something that is factored into every game a casino offers.
House edge example:
Slots - are a computer programme and therefore the amount they payout can be pre-programmed. Usually it’s set to around 95% - meaning the machine pays out 95p worth of prizes for every £1 wagered. Similar to a scratch-card company, in that if they’re offering £95,000 worth of prizes, they’ll print 100,000 x £1 scratch-cards so that they’re guaranteed £5,000 of profit.
So for the slot in this example the casino has a 5% ‘house edge’ over the customer.
The opportunity to make money is when the expected loss from the house edge is lower than the initial casino bonus or promotion. Similar to trigger bets in matched betting, Casino offers will come with wagering requirements that you need to "trigger" before you can withdraw the cash in your account.
Here’s the equation for ‘expected earnings’ from a casino bonus:
Casino Bonus - (house edge x wagering requirement total) = expected earnings
To understand the difference between a profitable offer and a non profitable offer I will show you both casino bonus examples below to contrast each other:
Deposit £10 and get £10 free (10x wagering requirement on the casino bonus given)
This would require 10x £10 (£100) worth of casino bets before we can withdraw the free bet we received. Using the slots example above with a 5% edge we will expect to lose 5% of the £100 you have wagered = £5.00 so from the £10 casino bonus, the expected earnings would be £10 - £5.00 = £5.00.
Deposit £10 and get £10 free (30x wagering requirement on the free bet)
Again we get £10 free, but this time we need to wager 30 x £10 (£300) on the casino before we can withdraw the casino bonus as cash. So with the expectation of losing 5% of the £300 wagered we will expect to lose £15. That means, expected earnings are £10 - £15 = -£5...so this offer is not worth doing.
Terms And Conditions To Look Out For
You must check the terms and conditions of every casino offer you look to complete.
Sneaky Wagering Requirements
The key thing to be wary of is what they include in their wagering requirements. The examples above only required the 10x wagering requirement on the casino bonus part of the offer, however some casinos require total wagering to include both the casino bonus AND the initial deposit!
Some casino bonuses may only be available on certain game types, e.g. a slots only casino bonus. Or if it's not limited to one game type then what some casino's do is weight the wagering contributions dependant of game type.
You're always safe with slots as they also contribute 100% of wagers to wager requirements. However, something like roulette sometimes comes with a lower weighted contribution (meaning you have to wager more than the wagering requirements), they display this by saying something similar to the below:
Slots - 100%
Blackjack - 50%
Roulette - 25%
So for every £1 wagered on roulette, only 25% (25p) goes towards your wagering requirements. The reason they do this is because roulette has a far lower house edge of around 2.5% vs the 5% on slots.
With this in mind, it's best to play roulette (low stakes on black or red each time) if the casino bonus allows you 100% wagering contributions on it. Or the safest option is going for slots, if in doubt.
How To Use Slots
Introduction to Slots
Most of you will already be familiar with the traditional slot machines or "one armed bandits" as they're sometimes known. They conventionally consist of 3 reels and if you match 3 icons in a row on the reels then you win.
Online slots or video slots as they're known are slightly different in that they're often 5 reels and you can match as little as 2 rows to win a prize (albeit a very small one!). Below is an example of a video slot and what you need to know:
What it all means:
- Lines - this is how many line combinations will result in a win (1 equals just combinations in a straight row will win, 2-10 start to introduce diagonal lines etc to a a winning line). In basic terms, the more lines you play the more chance you have of winning a prize from a single spin.
- Coin Value - this is effectively the multiplier you get when you win a prize, the higher the coin value the bigger the prize
- Stake - this is how much each spin will cost you [lines x coin value = stake]
Optimal Spin Strategy
The calculation of "expected value" is most true when there are a higher number of spins/bets.
So you're best off going for as many spins as possible when using your casino bonus. That being said, if you have wagering requirements of £200 and you're doing 2p spins, you're going to be sat there clicking all night - which isn't a good use of your time. So with that in mind, it's best to strike a balance between number of spins and time it will take.
You want to opt for highest number of lines and lowes coin value. But bearing in mind what I mentioned earlier about taking up too much time I'd suggest the lowest total stake to go for is 20p a spin.