One area that ProfitSquad have a lot of expertise in is casino offers and strategy for maximising profit from casino offers. Sports offers are a great way for all matched bettors to earn a steady income from the profits you can make from them but if you want to take your profits to the next level, casino offers may be a good option to explore.
While sports offers are mathematically sound in returning a profit whatever the outcome of your bet, casino offers work slightly differently in that they won’t guarantee a profit every time but if you carefully select offers which are +EV, you will make a profit over time.
What is EV?
EV stands for ‘Expected Value’ and is the profit you can expect to make should you repeat the scenario an infinite amount of times. For example, casinos have a house edge of 2.70% on single-zero roulette which means that on average, they will profit £2.70 from every £100 staked. However, you could go into a casino, place a £100 bet on red and win, leaving the casino down but if you placed the same bet over and over again, the averages would eventually become more accurate and the casino would be up 2.70%.
When it comes to casino bonuses, you are given some of that value back and if the variables are right, it can be you that has the edge and not the casino.
What does the casino calculator do?
Calculating the EV of a casino bonus is vital in determining which bonuses have value and will return a profit over time. If the bonus is +EV then it is worth doing. The more +EV offers you do, the more profit you will make over time. The casino calculator helps you determine which casino offers are +EV by some clever calculations and simulations based on the details of the bonus and your stakes.
There are many casino calculators available on the web but the advanced casino calculator from ProfitSquad calculates EV a lot more accurately due to the fact it takes more variables into consideration.
The variables the casino calculator takes into consideration when calculating the EV are:
- Bonus Qualifying – Select between ‘Buy-In Bonus’ or ‘Wager The Bonus’. If Buy In Bonus is selected you can filter further by selecting either ‘Cash Used First / Refund on Loss’ or ‘Blended Wagers’
- Initial Deposit Amount
- Bonus Type – Either ‘Bonus’ or ‘Free Spins’
- Bonus Amount
- Wagering Type – Select between ‘Bonus’, ‘Deposit’, ‘Bonus + Deposit’ or none.
- Wagering Multiple – How many times you need to wager the bonus/deposit
- Select whether or not cash stakes count towards wagering
- Select whether there is a winnings cap on the bonus
- Select whether it is a sticky bonus
- Game Variance – Choose between low, medium & high or by specific games such as roulette, blackjack or bingo
- RTP – The RTP of the game you are wagering on
- Cash Bet Size
- Select whether you are using a different game for wagering your bonus compared to your cash bets and input new details of this game
- Select the number of simulations you would like the calculator to perform based on the details you have entered
As you can see, the casino calculator takes a lot of variables into consideration to give you the most accurate EV possible. By simulating wagering the bonus hundreds of thousands of times, you’re able to calculate a much more accurate EV for any bonus offer than other casino calculators or by using standard EV formulas.