A big part of the training at profit squad is related to casino offers. With sports offers we are able to lock in profit from free-bets and other strategies, but we can also extract value from a wide variety of matched betting casino offers. For someone who has never experienced online casino betting, the different types of offers can be daunting and even the most experienced sports matched bettors might get confused with how to maximise value from each type of offer. In this matched betting guide we’ll be taking a look at some examples of the different type of casino incentives we can expect to be offered.
Bet and get offers
These are the most common type of casino incentives and can generally be split into two types: Free spin offers and Bonus offers. We can often take advantage of these offers with low-risk to our bank but we still need to know when they are worthwhile. Each offer has an Estimated Value (EV) associated with it, which is primarily affected by the amount of free spins/bonus being offered as well as the Return to Player % (RTP) of the game we are required to use.
Free spin offer, Example 1:
You are offered Bet £10 get 20 free spins worth 20p each on Starburst (RTP 96.1%) with zero-wagering on the free spin winnings. This means we can bet our £10 using the minimum bet on the slot for least risk to our cash and then play our 20 free spins, which will go straight to our cash balance. Using the casino calculator, we can see this gives an EV of £3.47, which is what we would expect to make from this offer long-term:
Free spin offer, Example 2:
Another casino has an offer of bet £50 get 10 free spins on Starburst worth 10p each, with a 35x wagering requirement on the free spins. This time when running the calculator, we can see that the offer has an EV of £-1.16 and therefore we should avoid it:
Another type of bet and get casino offer is wager ‘x’ get ‘y’ bonus. The EV and risk with these types of offers is similar to the bet and get free spin offers above. Except this time, we get bonus money straight away instead of having to play the free spins and so we set the bonus type as ‘bonus’ on the calculator.
Bet and get bonus example 1:
A casino is offering bet £50 on live blackjack (RTP 99.6%), get a £10 bonus with 5x wagering. In this example we get an EV of £9.59 and a chance of profit of 63%:
Bet and get bonus example 2:
Another casino offers us the same offer as above, but this time it is on the slot Book of dead and not blackjack, which on this casino has an RTP of 94.6%. Here we can see the EV has dropped to £6.22 and the chance of profit has dropped to 39% due to the lower RTP of the game. If we are pushed for time or only have time to do one of the offers, we should choose the one with the highest EV and the highest chance of profit:
Buy in bonus offers
Online casinos also often have sign up offers or reload offers which involve depositing to gain a percentage of your deposit as a bonus. We refer to these types of offers as Advanced Casino Offers (ACOs), as your bonus money is locked into your deposit. For cash used first offers, this means that you have to lose your entire cash deposit before you are able to use the bonus. Therefore, there is a high chance of losing your entire deposit with this type of offer, but they also have a high long-term EV due to the ACO strategy we use.
A casino is offering a 100% deposit match up to £50 with 45x wagering on the bonus and cash is used first. From the Advanced Casino training guide, we know what we should set our bet sizes to and we pick a high variance slot with an RTP of 96%. In this example we can see the EV is around £33, but we have a low chance of profit (14%). The higher risk associated with these types of offers is illustrated by the low-profit chance and the max advised bank risk, which in this case is 2%. Therefore, although it is has a high EV and is profitable long-term, we should only proceed if our bank is £2,500 or higher.
Other casino offers
Other casino offers include varying refund offers and double winnings offers. Refund offers will normally involve losing your entire deposit to activate a percentage refund, which can be credited as cash or bonus money. The nature of these offers means they have a similar level of risk as the buy-in bonus offers above, as we either play until we have hit a particular profit target or have lost our entire deposit to activate the refund. Depending on the terms of the offer such as wagering requirements or stake limits they may not be worthwhile, so it is important to run the numbers using the casino calculator. Double winnings offers will often be up to a certain value on a particular slot, for example, Double winnings (in effect 100% of your profit) up to £25.
The above gives us an idea of the wide variety of casino offers we can expect to encounter as matched bettors. It is important to know when an offer is worth doing, which depends on a variety of factors. The most important of these is EV, which is affected by what’s on offer as well as the RTP of the game we are playing and the variance of not only the games but the strategy we are using.
Good bankroll management is also highly important as it enables us to comfortably continue with casino offers long term. We need to make sure we are only risking a certain amount of our bank per offer, and the amount depends on the type of offer.
Profit squad provides training and step by step strategies for the different types of casino offers above. It also provides us with the tools to make sure we are only doing profitable offers and are managing our risk and bankroll properly.