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!
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.
Example: Casino Welcome Offer
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. Spent 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 - slots are a computer programme and so 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, 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 bonus or promotion. Similarly 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 an offer:
Bonus - (house edge x wagering requirement total) = expected earnings
To understand the difference between a profitable offer and an non profitable offer I will show you a non profitable offer to contrast the earlier example:
Deposit £10 and get £10 free (5x wagering requirement on the free bet)
So this would require £50 (5x £10) 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 £50 wager = £2.50 so from the £10 free bet, the expected earnings would be £10 - £2.50 = £7.50.
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 £300 (30 x £10) on the slots before we can withdraw the free bet 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 not worth doing.
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.
Important to note
The majority of the casino offers that offer value and are worth doing are not 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.