In this guide, I will walk you through how you can make thousands of pounds online from casino offers in matched betting by playing slot machines, roulette and blackjack.
I earned over £5000 in 2020 using the basic maths that I will introduce you to in this article.
What Are Casino Offers
Casino offers are promotions run by bookmakers in the hopes of enticing punters to continually play online games of chance.
Similar to matched betting where a bookmaker may run a promotion offering a customer a £10 free bet in return from them placing a £5 bet, a bookmakers casino offer may offer a customer 30 free spins in return for the customer playing through £10 worth of spins on their website.
Video Tutorial
How Do Slot Machines Work
Once you have the knowledge regarding how slot machines determine when and where to payout you will be able to make guaranteed profits from casino offers in matched betting.
There are many slot machines online, although they look and feel slightly different they all work in the exact same way.
In the above image, you will see the slot machine gonzo’s quest, deal or no deal and berry burst, each of the slots are themed and skinned a little bit differently but they each work in exactly the same way.
The objective (although based entirely on luck and not skill) is to try to get as many of the symbols in a row as you possibly can, each spin that you do requires you to stake your own money, the larger you stake on each spin the larger the reward for a win, very simple which is generally why they appeal.
How Do Slot Machines Decide Who Wins
Each slot machine is programmed by a very complicated computer algorithm to pay out a % return of whatever’s is put in.
For example, on the slot gonzos quest megaways, the programmed return rate or return to player (RTP) is 94.66%.
This means for every £1000 that is input into the machine, the machine will return 94.66% of this amount in winnings, this total is £946.60.
The machine then pockets the remaining percentage which is known as the house edge, in this case the edge is 5.34%, this percentage tallies up to £53.40.
Each slot is programmed to payout in completely random patterns which can not be correlated as this is determined by a highly sophisticated computer algorithm.
The one thing that is known, as it is provided by law, is the level of variability of each online slot. In other words, does a machine payout continually but these payouts are relatively small, or, does the machine payout inconstancy but the payouts are large.
This is often referred to as variance or volatility with slot machines, a low variance slot will provide lots of small consistent payouts whereas a high variance slot will provide lots of large inconsistent payouts.
The variance level on slot machines is defined as low, medium or high. The slots database on OddsMonkey will provide all this information on each of the individual slots along with all their RTP’s respectively.
With this knowledge, gambling on slot machines is of course a negative strategy, if you do gamble on slot machines over a longer period of time it’s almost a certainty that you will lose more money than you win.
How To Make Money From Casino Offers in Matched Betting
Based on the previous information I can imagine you’re probably asking yourself “well if that’s the case how can we actually make money from doing casino offers”.
The process is very simple, in the above image I have included some real-life casino offers, the one thing that these offers have in common (as shown in the green boxes) is that they all have a positive expectancy or a positive expected value (EV) for short.
Expected value, is based on maths, it provides a number as to how much profit you’re expected to make from completing the offer.
This number represents a lineal view on how much you are expected to make per offer, however, the maths comes with the variance as the slot machines payout in random patterns.
This means that on each individual casino offer that you partake in, you may win money and you may lose money on either side of the EV.
As the RTP levels are provided on each slot, accumulating EV over an extended period of time is very likely to coincide with the amount of profit you will earn, for example, if you accumulate £200 of expected value your profit is also likely to be at or around this number.
When doing casino offers you should partake in as many offers as you can that have a positive EV, although you may lose money on certain offers over the long run you will be profitable as this process and system is based entirely on maths.
How To Work Out The Expected Value Of Casino Offers
Although most of them are, not every offer is positive in EV, it’s important to determine if an offer has a positive expectancy before partaking.
To work out the expected value of an offer, the formula is very simple, you would simply take the amount of money that bookmaker requires you to stake on the offer to unlock the bonus, this is £20 in my example above example. You would then take the RTP of the game in which your money needs to be wagered on, quantum blackjack has an RTP of 99.4%.
From there we are able to work out how much we are expected to lose on the wagering based on the maths, we do this by working out 99.4% of £20 in my example.
The answer to this is £19.88, therefore we would expect to lose 11p of our overall stake.
We then take the expected loss from wagering (11p in my case) and we add it to our expected bonus win from the bonus side of the offer.
To work this out simply take the bonus amount provided by the bookmaker on their offer which is £5 in my case (5x£1 golden chips). Next, take the RTP of the game which again is 99.47% and work out that percentage in relation to your bonus amount.
To work out the EV we take our 11p loss which we took from the wagering side of the offer and then add it to the expected bonus win which is £4.34.
£-0.11 + £4.34 = £4.23
There is a dedicated casino hub on OddsMonkey’s website which comes with a basic EV calculator to do all the hard work for you.
