The reason Matched Betting has been the preferred source of online income for almost a decade is because of the high and consistent profits you can earn.
One of the most lucrative offers available is the Casino Offers.
Even though the online casino and slots are skewed in favour of the bookmakers, we can find value in some of the offers.
To figure out whether a casino offer has value we have to know the RTP of that particular slot.
The RTP stands for RETURN TO PLAYER.
Each online casino or slot has a particular RETURN TO PLAYER percentage that tells you how much you will expect to lose on average.
Here is an example
Above you can see an image of the hugely popular online slot Starburst. Many bookmakers use this slot for their offers so it is important that you understand the RTP and how it works.
Now the slot Starburst has an RTP of 96.1%.
This means that on average you will lose 3.9% of the money you gamble on the slot.
100% - 96.1% = 3.9%
The 3.9% is why the bookmakers make so much money from the online slots because they are mathematically programmed to be in their favour!
There are thousands of online slots and games available across all of the different bookmakers and they all have different RTP’s.
When the bookmakers send out casino offers they will always limit the amount of slots you can choose from and provide a small selection of certain slots they want you to use.
Before you complete an offer you must check what the RTP of each slot is and figure out where the highest expected value(EV) occurs.
We will get into this more below
It is important to understand that even though the slot has a 96.1% RTP, it doesn’t mean that you will only lose 3.9% every time. It is very possible for you to lose all of your stake when playing a slot and this is known as the variance.
We could wager €10 on the slot and lose €10.
We could wager €10 and win €10
Over the short term, the slots are unpredictable and you need to be prepared for this. The RTP percentage is what you would expect to receive over the long term of consistent spins on the slot.
The highest RTP available is Blackjack(above) and you should always choose this game if it is available.
The RTP of Blackjack is 99.5%
That means for every €100 you wager you will only lose €0.5.
This is considerably higher than the example above of the slot Starburst and it is higher than almost all slots currently available out there.
Now we understand the RTP, how to find the RTP and the variance, let’s see how we can profit from online casino.
Just like Matched Betting, we can turn the edge away from the bookmakers and into our advantage.
Bookmakers will offer their customers free spins or bonuses to their slots and games to encourage people to play.
A very common offer for an online casino is Wager €10 for 20 Spins.
Let us show you why depending on the slots available this offer can become profitable
Wager €10 for 20 Spins on Starburst.
Now to work out whether this offer is profitable, we have to work out the Expected Value(EV).The Expected Value is a term which shows you the average amount you will earn each time.
To receive 20 free spins we have to wager €10 on the slot Starburst. As mentioned above Starburst has an RTP of 96.1%.
That means if we wager €10 on Starburst we can expect to lose only €0.39.
100% - 96.1% = 3.9%
€10 * 3.9% = €0.39
Once we have wagered the €10 we will be rewarded 20 Free spins. Each free spin is worth 10c.
The collective worth is 10c x 20 = €2.
Now if we were to wager those spins on Starburst we would expect to lose €0.078
€2 x 3.9% = €0.078 → rounded up to €0.08
This means that out of the 20 free spins we would expect to retain €1.92.
Finally, to work out the Expected Value(EV) we take away the €0.37 we lost from the initial wager, from the €1.92 we earn from the 20 free spins.
€1.92 - €0.37 = €1.55
The Expected Value(EV) from this offer is €1.55.
Because the EV is above £0, we have an edge over the bookmaker and we can earn consistent profits from these type of offers.
The RTP is the Return to Player Percentage that is programmed into the online casino and slots.
Online casino and slots are becoming hugely popular in the world of online gambling and bookmakers will continually push you into using them. If you are easily addicted or feel you are becoming addicted to the slots then please stop immediately.
The slots are programmed to be in the bookmakers favour so you must not play them unless there is an offer which turns the edge over to you.
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