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.
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.
What is House Edge?
All Casino games are designed so that the odds are alway in favour of the Casino - the size of the edge and how it's achieved varies from game to game.
The house edge shows us roughly how much we can expect to lose on a certain game. A house edge of 0.5% means that you will lose 0.5% of your bet staked (on average). So £100 of bets will result in a £0.50 loss, on average!
This can sometimes be displayed as RTP (return to player), which is the same but displayed in the opposite format. So a 97.5% RTP means that 97.5% of your stake is returned (again, on average). So for every £100 staked, you will get £97.50 back and lose £2.50, on average.
The breakdown on House Edge and RTP for each Casino game:
Where Casino Edge Comes From
The easiest example of casino edge would be when betting on Red or Black on Roulette.
There are 18 blacks, 18 reds and 1 green (number zero) on a standard roulette wheel and you get paid out double your money if you are correct in choosing whether it will be red or black. Now, if there were just 18 blacks and 18 reds and we were getting double the money if we won and losing our bet if we lose, there would be no casino edge and no player edge.
But because there is 1 green and a total of 37 number it can land on - then the player will win on 18 of the 37 numbers (48.6% of the time), whereas the Casino wins on 19 of the 37 numbers (52.4% of the time).
So in this game the House (Casino) Edge would be 2.5%.
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:
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:
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.
Something like this:
Slots - 100%
Roulette - 50%
Blackjack - 15%
So for every £1 wagered on roulette, only 50% (50p) 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.
But, the safest option is going for slots, if in doubt.