Make money from casino bonuses – the strategy that made me £20,887
First of all you need to understand that casino games are there to make the house money.
Plain and simple.
The only way to make money from a casino game is to find an edge and exploit that edge for as much money as possible before it disappears.
In this article I am going to explain the edge that I use to consistently make money from casino offers.
First off lets just quickly go over how casinos make money.
Make Money From Casino Bonuses – The Houses Edge
As stated earlier the majority of casino games are unbeatable.
Casino games have been developed solely to make the casino money.
In the short term you might get lucky however over the long run the casino is going to make a guaranteed profit.
The exception to this rule would be poker where the casino takes a percentage of the winners pot. In poker, casino customers play against each other and professional poker has been a profession for a very long time.
The other notable exception is blackjack.
Edward Thorp an American mathematics professor pioneered the technique of card counting which is still used today in certain casinos.
Thorp’s book “Beat The Dealer -a winning strategy for the game of Twenty One” revolutionised advantage gambling. The book showed a method which was mathematically proven to flip the edge from house to the player.
In this article we are going to focus on online casinos. The principle is exactly the same however it will involve using a different method to flip the odds in our favour.
Exploiting casino bonus offers along with cashback offers is a very simple and also proven method of making profit from online casinos.
Make Money From Casino Bonuses Online – What is EV?
There is a term in advantage gambling called EV.
This stands for expected value and it is used to calculate the expected profit from performing an action over the long run.
Perhaps the best way to explain this is with a coin flip example.
Okay so lets say we have a scenario where you have a friend that believes tails is luckier then heads.
They believe this so strongly that they are willing to pay you £11 every time it lands on heads. Whilst you have to only pay them £10 every time it lands on tails.
This gives you a mathematical advantage and long term this is called plus EV or positive expected value.
Choose Heads and get odds of 2.1 (real probability is 50% so odds should be 2.0)
Choose Tails and get odds of 2.0 (This is the true value of a coin landing on tails.)
If you flipped the coin several hundred times then there would a strong statistical probability that you would win money.
Make Money From Casino Bonuses Online – Flipping The Edge In Your Favour
So now lets take a look at a real example of where we can get value from a casino.
In this example I am going to use a cashback offer. This offer gave me 10% cashback on losses up to £20 on any casino games that I played that day.
This is a really good offer we you can get a good return for your money in very little time.
For an offer like this my personal choice is always to play blackjack.
This keeps the variance lower then other methods and playing optimal blackjack strategy means that the house has a very low house edge.
Playing optimal blackjack strategy with this casino gives a return to player of around 99.5%.
This means that for every £100 staked we can expect to lose only 50p per hand in the long run.
Although the distribution of results will be random. Meaning that there could be long winning or losing streaks at times.
In the long run we can expect to make a profit from this offer.
Exploiting The Offer
So the offer is 20% cashback on losses up to £200.
I play optimal blackjack strategy with the aim of doubling my money or losing it all.
If I win a profit of £200 is made.
If I lose a loss -£180 is made.
To work out the long term value of this offer we have to deduct the house edge from the amount we stake.
In this case we deduct £1 which is 0.5% of the £200 stake that is used.
Then divide it by 2 as roughly half the time we will win (no cashback) and half the time we will lose (cashback awarded.)
£200 – 1 = £19 divided by 2 = £9.50.
In the long run we can expect to make £9.50 on average from this offer.
This offer will take less then 5 minutes to do, so the return for the time spent is very good.
Make Money From Casino Bonuses Online – Staking And Risk Management
One thing that is really important to remember when exploiting casino bonuses and cashback is that you will have losing runs.
Due to this you need to have a set bankroll and accept that you won’t always win.
There are different staking strategies available such as the Kelly Criterion (which suggests altering your staking depending on the size of your expected value.)
However you might just want to keep things simple and never risk more then 2-3% of your total bankroll on an offer.
This will allow you to endure losing periods.
The importance of volume
Just as an example of why it is important to put a lot of volume into plus EV casino offers and not look at things short term.
Here are my results over the last 4285 offers.
Looking at the long term graph you can see that a good profit has been made and the graph curve has generally gone upwards.
However if you look right at the start, you will see that initially I was losing money after the first 70 offers.
There has also been long losing or break even periods at times however in the long run it has been profitable.
Make Money From Casino Bonuses Online – Low Risk And Free Spins Offers
Probably the best entry to advantage gambling is with low risk offers and free spins.
Many bookmakers and casinos offer daily free spin offers. These offers generally have a low EV of £0.5-£1 however there are lots of these offers everyday.
It can be a good way of building up your initial bankroll and also gaining faith in the mathematics behind advantage gambling.
Whilst also getting used to the variance of results.
A good example of a low risk offer would be the one above.
This is from the Virgin Games signup offer.
Stake £10 which you can rollover on blackjack playing optimal strategy.
Get £6 in free spins to use.
The expected value of this offer is just over £5 and would take you no more then 10 minutes.
Make Money From Casino Bonuses Online – High Risk Offers
Moving on to high risk offers.
High risk casino bonus offers are not for the faint of heart and it is not something I would advise people not to jump into straight away.
When doing high risk offers you can have losing runs that will see you down thousands if things go against you.
My own casino results are a mixture of low risk and high risk casino offers.
However I only did high risk casino offers once I had already built up a bankroll doing lower risk offers and also using matched betting.
Here is an example of a high risk offer.
Deposit £100 get a £100 bonus which must be wagered 40x (£4000) and wagering on blackjack does not count.
Whilst this offer is still plus EV and worth doing in the long run.
It is higher variance as we can’t use blackjack and have to use a high return to player slot.
The long term EV of this offer however is around £25.
Having done thousands of casino offers I have had some big wins but also been through some long losing runs.
In the long run with a disciplined well managed approach there is still good money to be made from high risk casino offers.
Is This Like Matched Betting?
Exploiting casino bonuses is similar to matched betting in that it is betting with a proven mathematical advantage.
However you will not make money on every single offer, in my opinion it is more comparable to value betting.
To succeed in the long term, you need a disciplined approach.
The big advantage this has over matched betting is that the EV is currently a lot higher on average per offer.
Along with the fact that there are not as many people exploiting casino offers due to the variance involved.
Where Can I Find Offers And Learn More?
If you want to find casino bonuses you can use a site such as askgamblers.com.
Read through the terms and conditions of the bonuses to try and find some plus EV opportunities.
I still do this from time to time if a new casino emerges and the services I use don’t cover it.
The other option which is the option I use and is also how I learnt to exploit casino bonuses in the most optimal way possible.
Is to use a service such as Oddsmonkey (suited for low risk casino offers) or if you really want to delve deep into exploiting casino offers Profit Maximiser (Suited for all levels of exploiting casino offers).
The picture shows the type of breakdown Profit Maximiser will give you when looking at exploiting bonus offers.
Detailing everything from stake sizing, the optimal slots to use, estimated value of the offer and also the % of you losing your entire stake on that offer.
This service was a game changer for me and allowed me to make over £20,000 in profit from exploiting casino offers.
Make Money From Casino Bonuses – Conclusion
Making money from casino bonuses is still very possible in 2020.
The returns on your money for the time spent doing them can be excellent.
If you have the right mentality and approach then this is still a very valid way of making money online.
(This article features affiliate links. This means that if you choose to make a purchase, I will earn a commission. This commission comes at no additional cost to you. I use or have used any product I review. If I recommend them it is because I believe they are helpful, useful and offer value to their customers. Please do not spend any money on these products unless you feel they will give you value or that they will help you achieve your goals.)