How to profit from casino offers
Let’s look at how to profit from casino offers. There are hundreds of casino offers available. You can use mathematical techniques to turn these casino offers in to long-term profits.
The two main types of casino offers are:
a). Deposit bonuses: deposit X to get Y casino bonus
b). No deposit bonuses or free spins: no deposit is needed, a free bonus is credited which often carries a hefty WR say x35 bonus
Casino offers where you deposit your own money are not risk-free. Casinos operate with a house edge. Blackjack has the lowest house edge, then roulette and finally slots have the biggest profit margin for the bookies.
You can turn house edge around and use the return to player (RTP) figure.
In other words, what percentage payout is the game programmed to payout?
Most slots have an RTP of around 95%. The RTP helps you to calculate the expected value (EV) of a casino offer. The EV helps us to estimate what is our expected long term profit?
Example of a deposit bonus casino offer
A typical offer is bet £10 on slots, get a £10 bonus with 10x wagering requirement.
The £100 wagering would suggest a 5% loss on house edge. The EV rating is £5.
Another casino offer (e.g. Coral) might be deposit £10, get a £50 casino bonus. The WR is 24 times deposit plus bonus, which equals £1200.
If you complete the wagering on a 99.10% RTP slot, this offer is EV. The house edge takes £10.80 per £1200 (0.90% of £1200).
Calculating EV of a bonus
To work out if a casino offer is worthwhile, perform this calculation:
Casino bonus amount minus (house edge x WR/100) = EV
Applying the EV calculation to the Coral welcome offer, assuming a slot with 99.10% RTP:
50 minus (0.90 x 1200/100) = £39.20 EV
Apply this EV calculation to all deposit casino bonuses. This will help to identify bonuses with long-term profit potential.
Check the following points before starting a casino bonus:
- Eligible games: blackjack is often excluded, as are some high RTP slots.
- Total wagering: is it bonus only? or deposit plus bonus?
- Wagering contributions: games with a low house edge such as blackjack and roulette often count for less than 100% towards the wagering requirement, as do selected high-RTP slots.
- Maximum stakes: is there a maximum take per bet?
- Maximum winnings: some casinos will have an upper limit for how much you can convert their bonus in to cash.
You will find various other terms at each bookmaker. Ensure you carefully check the terms at each casino.
In contrast to sports matched betting, matched betting casino offers are often not risk-free.
The expected value shows the mathematical long-term profit in theory. However, the expected outcome is not guaranteed to happen.
There is a lot of variance in the outcome of casino offers. Therefore, you need a disciplined approach to bankroll management. In practice this means sticking to a strategy. Limit how much you invest in a casino offer at any one time, i.e. if your bankroll is £500 then do 1% or £5 at a time.
Effective bankroll management helps to smooth out the variance of casino offers.
So there’s an introduction on how to profit from casino offers.
The smartest strategy is to start with no deposit and free spins offers to build a bankroll. Then go for the deposit bonuses with your bankroll, whilst always applying bankroll management. This will help you to ride out the short-term variance and generate a long-term profit.
Check out some great casino offers on our free bets page.