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Almost every online casino has some sort of welcome bonus to help try and persuade you to sign up and use their website rather than their competitors. With a little bit of thought and cleverness, we can take these new-player casino bonuses and convert them into withdrawable cash.

But before we delve into casino bonuses, let’s talk about sportsbook bonuses. Making money from them is known as matched betting and is pretty easy and may be where you started off?

But right now because of the COVID-19 coronavirus most sports aren’t running so there aren’t that many matched betting offers available. But to try and keep customers casinos are offering better bonuses than normal. Now is a great time to try some casino bonus bagging – especially as we all need to make some more money!

Contents

Unlike Matched Betting, Casino Bonus Bagging Isn’t Risk Free

Unlike matched betting, making money from casino bonuses is not risk-free. But that doesn’t mean that they can’t be profitable and worth doing.

We call this notion EV (expected value). By using maths we can work out how much money we will make on average from the bonus. So why is that not risk-free? Because of variance. Each time we make a slightly different amount, but over the long term it averages to the EV.

If you understand what I mean then feel free to skip straight to the how casino bonuses work section.

Note: this can get quite complicated. If you want someone to explain it to you one-to-one then Oddsmonkey have an onboarding coach who will hold your hand when you sign up to their £17.99 a month service.

The Maths – How Casinos Make Money

Let’s say that we are playing a game of flip the coin, and because we’re fun people we’re also betting on it.

If we bet £1 a throw.

  • I win £1 and you lose £1 if the coin comes up heads.
  • You win £1 and I lose £1 if the coin comes up tails.

That is what we call a fair game.

There is risk – we could play 100 flips and I might lose money, or I might win money. But either way, it is just down to luck. Statistically, I am not more likely to win than to lose.

There is a 50% chance of me winning each throw, and a 50% chance of me losing each throw.

That is not what it is like in a casino. The casino has an edge.

Let’s change the rules slightly:

  • I win £1 and you lose £1 if the coin comes up heads.
  • You win £1.10 and I lose £1.10 if the coin comes up tails.

That is not a fair a game.

There is still risk – we could play 100 flips and I might make money. But I am more likely to lose.

On each coin toss I expect to lose 5p. We use this word “expect” a lot when it comes to making money from casino bonuses. It means the average in the long-term.

Here is a very simple tree showing you how we worked out that expected loss of 5p.

(0.5 x £1) + (0.5 x -£1.10) = -£0.05

That number becomes what is called the house edge. For every £1 we bet we expect to lose 5p.

If we play 1,000 flips, I will have bet £1,000 and expect to lose £50 (1,000 x 5p).

The More We Play The Closer To Expected We Get

Now we get a bit more complicated. The longer I play, the more likely I am to lose money.

I am not going to explain the maths here (email me if you want to know), but over 1 coin flip my chance of walking away with a profit is 50%. The coin can either come up heads or tails.

Over 100 coin flips my chance of making a profit has dropped to 31.7%, that’s almost a 1/3rd chance which still is quite high. I might decide that I’m feeling especially lucky and take that 1/3rd chance. But over 6,000 coin flips my chance of leaving with a profit drops only 1%.

That is how a casino makes money. If there are 60 people playing at your casino and each plays the coin flip game 100 times, then each person has a 31.7% chance of leaving with a profit. But as the casino is playing 6,000 total flips it only has a 1% chance of not making a profit overall. A pretty clever business model.

What Are The House Edges Of Different Casino Games?

Now you can’t actually play our coin flip game in a casino so let’s apply this concept to two real casino games.

Roulette. Is a very basic game which almost everyone understands.

There are 36 numbers not including the zero. Of those 36 – 18 are red and 18 are black. The number zero is not red or black. Each time the wheel spins there is an equal chance that the ball will land on any of the numbers 0 – 36.

If you bet on red and it comes up, you win your stake back. So a £1 bet would win £1.

There is an 18 out of 37 chance of a red colour coming up. That means that you have a 48.6% chance of winning, and a 51.4% chance of losing.

Let’s draw that same tree we did earlier but this time for roulette:

(0.486 x £1) + (0.514 x -£1) = -£0.028

For ever £1 bet we expect to lose 2.8p. That’s the house edge.

That’s pretty low. But roulette is not the casino game with the lowest house edge. That award goes to….

Blackjack. Forget card counting or anything you’ve seen in the films, your basic blackjack is the casino game with the smallest house edge.

There are many different rule sets for blackjack, and the house edge depends both on those rules and also on how close to perfect strategy the player is playing. But most games of blackjack have a house edge of about 0.5p per £1 bet (0.5%).

Let’s just think about that, 0.5%. That’s so low! It’s the equivalent of playing the coin flip game with the rules:

  • I win £1 and you lose £1 if the coin comes up heads.
  • You win £1.01 and I lose £1.01 if the coin comes up tails.

If we played 1,000 hands of blackjack at £1 a bet, we would have staked £1,000 and expect to lose just £5.

How Casino Bonuses Work

Thank you for sitting through all of that. Now that the basics are out the way let’s talk about the juicy stuff. How we can actually make some money from casino bonuses.

Just like with matched betting, most casinos offer new players an incentive to sign up and play at their casino.

Unfortunately, unlike with matched betting, there is no way we can hedge out our bets. But we can use this knowledge of the house edge to turn things in our favour. Provided the bonus is good, we can expect to make money.

Let’s take a look at one bonus that is currently offered by William Hill on their live casino.

To get the bonus, we need to deposit £25 and then place a series of bets that total at least £200. When we have reached that target and we contact customer service, a bonus of £25 will be added which we are then free to withdraw along with whatever is left of our initial deposit.

How We Make Money From Casino Bonuses

£200 sounds like a lot, but after what we’ve learnt about house edges and blackjack it shouldn’t sound so bad. Remember blackjack has a house edge of 0.5%.

Over £200 staked we expect to lose only £1. That means we expect to keep £24 of the bonus!

This is what we expect to happen.

  • We deposit £25 into William Hill Live casino.
  • We place 200 £1 bets. At the end, we have lost £1 and have £24 left.
  • A £25 bonus is added to our balance.
  • We withdraw our balance of £49 (£24+£25).
  • We have made a profit of £24.

But, there is risk.

There is a chance we will lose more than just £1. There is even a chance of us losing more money than the bonus is worth. If we use up all of that £25 we would need to deposit more in order to finish the staking.

We won’t go into the maths on variance. But understand this. Blackjack has a house edge of 0.5% and a standard deviation of 1.15.

That means that at a £1 bet size there is a 95% chance we will make somewhere between £7.75 and £40.25. But it also means there is a 7% chance of making a small loss.

That is the essence of making money from casino bonuses. You are simply moving the odds to your favour.

Websites like Oddsmonkey and Profit Accumulator (more on them later) have calculators for working out your variance and house edge from different casino games. They also have strategy calculators to help you play the games optimally.

Whew. So after all that explaining, the actual steps were very simple.

But we had to go into all that details because it will enable you to look at more advanced offers and take advantage of them as well. Every casino bonus has different terms and you need to be able to work out what strategy to follow to get the highest ‘expected profit’ or ev from the bonus.

Which brings us on to the hardest part of making money from casino bonuses.

Where To Find The Best Casino Bonuses

You can only do that William Hill Live casino offer once, so to continue making money you need to find some more offers.

And the unfortunate truth is for more casino bonuses it is not profitable to make money from them. You need to find the diamonds in the rough.

You can do this in exactly the same way as you would when sports matched betting. And in fact, if you have done matched betting before you will probably already know the following two choices:

How To Win Money Back From Casinos In Las

  • Look through casino terms and conditions manually.

95% of people pay for a service. Compared to the EV you can make the services are cheap, they give you a curated list of offers to work through, and they point out any dangerous loopholes in the terms and conditions.

My two favourite paid for services for casino bonuses are:

  • Profit Accumulator. Free for your first few bonuses, then £19.99 a month.
  • Oddsmonkey. Free for your first few bonuses, £19.99 a month.

How To Win Money From Casino

Nowadays they are both pretty similar with largely the same offers but different communities, website feel and customer service. They each have free accounts you can try out so I suggest signing up to both and then choosing which one you like the most.

Note: this can get quite complicated. If you want someone to explain it to you one-to-one then Oddsmonkey have an onboarding coach who will hold your hand when you sign up to their £19.99 a month service.

There Are Lots Of Different Types Of Casino Bonuses

Wow what a beast of a post!

Let’s just finish on saying that there are lots of different types of casino bonuses and all have slightly different best ways to exploit them.

By now you should understand the concept of expectedvalue and therefore making money from casino bonuses. You have a guide to tackle your first bonus and you have plenty of resources to help you research and find new offers. Good luck!

USEFUL LINKS

  • More details on casino wagering requirements.
  • My summer betting diary where I made £250 a week throughout the summer holidays.

FAQ

What happens if I lose all of the £25 before completing the wagering requirement??

This is a very real risk and is also the reason why there is a chance of losing a small amount of money while completing the wagering requirement.

What you need to do is to deposit more money and finish the betting.

I hear people talking about ‘sticky’ bonuses or doubling up. What does that mean?

You should really join a forum and start asking people there. You are getting into some quite complicated areas with the potential to lose some large amounts of money if you make a mistake.

But in short: A sticky bonus is one that you can never withdraw. You can only withdraw the winnings. This means that the tactics we spoke about earlier don’t work. Doubling up is a technique to make money from them. You basically bet the whole bonus on red on roulette. If the bet wins you withdraw the winnings. If you lose you’ve lost the bonus which you couldn’t withdraw anyway.

What are the house odds of some other casino games?

  • Baccarat – 1.06%
  • 3-card Poker – 2.01%
  • Craps – 0.34%
  • French Roulette (you get 50% of your stake back if it lands on 0) – 1.35%
  • American Roulette (two 0s) – 5.26%
  • Slots – 3-10%. Average is about 5%.

Can I card count online blackjack?

No, you cannot. Card counting relies on the contents of the remaining cards changing as the rounds go on. In online blackjack the cards are shuffled every hand so the contents don’t change. You can do it with live blackjack – but I believe they shuffle regularly to make it more difficult. I have never tried.

I have a question that is not answered here?

Drop me an email at hello@sampriestley.com and I will do my best to get back to you.

Can you make money from casino bonuses while self-isolating or under quarantine?

Yes you can! It is actually a very good time to do it because you can do every step of the offer from your home.

Real money casinos – are the type of casino where user can get real cash prize. In order to win real money casino for free player has to be prepared. It is necessary to know in which way it will be best to make transactions, where to find real money online casino and in which way the free game is useful and why it is better to choose online casinos real money no deposit bonus. Want to play for real money? Read the casino reviews and choose the casino for playing.

Preparation – Choice of payment system

Before starting to play for real money casinos it is better to decide which payments system will player use. Learn how to make a deposit in casinos and withdraw received prizes.

Due to wide range of paid services of different types on net, it became popular to use electronic money. They are online funds, which perform ordinary function of payment units on web a user can convert them into cash any time he wants. It is possible to keep this money on bank cards, accounts or special services – e-wallets.

There are lots of similar services for keeping money. Each casino has its own list of supported payment service providers, which are indicated in banking section. The most used and widespread among casino services of electronic money are: bank cards VISA, VISA Electron, MasterCard, Maestro – the most widespread type of electronic money usage. These are plastic cards, which belong to certain bank. With their help people can make online transactions and do shopping in land-based establishments or cash out money from them.

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In order to play on online slot machines real money with bank cards, you should replenish gaming account with their help. To do this indicate the desirable amount of replenishment in banking menu, also insert the card number (consists of 16 digits), expiry date (indicated under the number) and CV2 code (3 digits on the back of the card). It isn’t recommended to insert pin-code of the credit card, because it is confidential information, which has to be only accessible to its owner.

The advantages of card way of payments are: its availability in almost all casinos, the bigger maximal amount of withdrawal and deposit and money from the card can be easily used outside the web. The disadvantages are: the time for money withdrawal takes approximately 1-5 days and sometimes the necessity to give additional data for verifying that it is your card. Skrill and Neteller – British electronic wallets, which are very popular among fans of playing on real money online casino. It is very handy, simple and there are secure services which make quick various transactions on the Internet and don’t take big fee.

In order to transfer money from Skrill or Neteller to casino you should indicate the desirable system into the banking menu. In addition to the amount of replenishment Skrill requires indication of email and password, used for the login on wallet page and Neteller asks for account number and secure ID (personal secure code). Money will be transferred instantly.

The advantages of this services are the speed of payments processing (instant deposit; withdrawal takes 1-3 days), simplicity in usage, they are widespread (are available on most of gaming platforms), access to the minimal deposit. The separate plus of Neteller is the high security level.

The disadvantage of Neteller is the possibility to withdraw money only on bank account. Skrill minuses: the obligatory attachment of the card to the account, the longtime of personal data processing and resolving problems with technical support. Both services allow to create accounts only in one currency.

  • PayPal – one of the most popular payment services in the world. Paypal for real money at online casinos is most widespread among American players.It is one of the biggest and quickest electronic systems, that allows to make any type of online transactions. Its main disadvantages are limitations in usage of some services in specific countries (for example money withdrawal) and obligatory attachment of card to PayPal account.
  • ECOPayz, Entropay, Paysafecard – other popular payment systems among online casinos. Though they are less popular than abovementioned ones, they are supported by most part of big online casinos and work in those countries, where online casino real money PayPal, Skrill и Neteller may be non-accessible.
  • WebMoney – online wallet which is very popular in CIS countries. It is quick to use and is well secured. This system doesn’t work in lots of countries and is accepted only in some casinos.
  • Bank Transfer – the usage of bank account for game in online casino. This way is available almost in each casino, but the time that transactions take (mainly the money withdrawal) up to two weeks.

Choice of casino – Registration

When you have chosen the payment service it is time for the selection of gaming platform. The modern web offers such wide choice of casinos that it is very hard to choose one. Almost each casino is unique in design, types of games and bonus offers such as online casino real money no deposit.

In order not to believe in false ads, vain promises and not to place money on dishonest resource beginners are recommended to visit gambling forums and websites with detailed casinos reviews. On such platforms both editors and users place overviews of gaming websites, describing their advantages and disadvantages. With the help of such descriptions it is possible to find one or several suitable resources.

When player finds the desirable online casino, he should register there at the first place. Registration form doesn’t almost differ on carious websites: user has to indicate real name, age, email, address and select currency. Note that registration on gaming websites is forbidden to minors.

You shouldn’t be afraid to insert personal data and send documents for verification to big licensed gambling resource. The biggest part of casinos promises to protect players’ personal information. If you indicate the false data during the registration your account may be blocked and all placed and won money will not be accessible.

Registered users get an access to all games on website, have personal cabinet, take part in bonus offers and can win real money online instantly or play for free (if the website allows to do this).

Choice of gambling game

When chosen payment system is ready for usage, player is registered on gaming website – he can then move to the most interesting part – choice of games.

The assortment of modern online casino has hundreds of various gambling games on various themes, types and taste. If player is lucky for the first time in gambling and doesn’t know the difference between poker and blackjack it is recommended for him to start from online slot machines real money. These are the simplest games with simple control, they have low bets on the game and lots of possible winning combinations. They will be quickly become understandable, because the slot rules don’t require deep knowledge in games and the control is made with the help of several buttons.

Moreover, their choice is very wide. Lots of online platforms offer hundreds of slots from several developers at the same time. They are very colourful, with different animation effects, musical background and big set of bonuses. All that you need is to set the rate, press on “Start” and enjoy spin of 3 or 5 reels.

Player should choose slots with average number of lines (from 20 to 50) because as a rule, their frequency of wins is average or high and the amount of prizes is quite big. You shouldn’t forget that each line can be winning and form big payout. It is advisable to catch bonus pictures at the first place, because they give free spins. They will provide you with fantastic game and you’ll be able to win real money online casino for free.

In case player won’t like playing slots, he can try other gambling games such as roulette, poker, blackjack, bingo or baccarat. Note that these games require preparation and knowledge of rules. That is why it is recommended to get acquainted with the rules and try playing game on free game-pieces.

Free game

It is the great choice for search for new casino and adaptation to the game process. It offers the game in free money casinos no deposit required where users don’t lose anything.

There are special platforms where is played only free game without registration. There are also real online casinos which give a possibility to play for free. Player can change the accounts, replenish the balance and start the game in online casino and make real money.

Bonuses in casino

All additional funds, loyalty programs, free spins, different inside tournaments and tasks – these are casino bonuses. There are lots of variants of getting bonuses, even real money online casino with free signup bonus. Each gaming resource has its own system of awards for attracting new clients and keep the interest of already registered players.

The most widespread bonus types:

How
  1. Deposit Bonus – additional funds for placed deposit. Its size differs depending on the website, the number of previously placed deposits or the day, when money was placed. The amount of bonus can be from 25% to 200% from placed amount. Sometimes, apart from bonus funds player gets specific number of free spins. Though such bonuses need to be won back. If player doesn’t want to do this, he should search for instant play casinos with no deposit bonus.
  2. New Game – advertising bonus. When new game appears in casino, website starts promotional offer. The popular conditions for such bonus are testing of free spins, big jackpot or giving back the certain per cent of lost deposit.
  3. Free spins – real free cash bonus no deposit casino on slot machines. Player can get them for placed deposit, award for the time spent on the website or for going through the link, got on email address.
  4. Bonus for the game – award in several free spins or return of certain per cent from lost money after specifically played number of bets.
  5. Club – loyalty program of the website. It has a form of special stocking system of bonuses. Points are got for visits on the resource, game on money, deposits, won places in tournaments. The award can be bonus funds, free spins for certain game level, access to VIP club and bigger bonus for deposit, etc. Such type of bonus allows to play in online casino real money no deposit.

As a rule, all bonus offers from casino are available in “Promotions” or “Bonus” sections. Player will also get mails on indicated email address with promotions descriptions with offer to play in online casino for free with bonuses for certain actions.

No matter how seductive these promotions can be player has to be very attentive. Almost all bonuses have their own nuances. For example, bonus funds should be won back by placing bet in dozens times bigger then the prize sum. Otherwise player won’t be able to withdraw even his placed money. If the withdrawal of deposit money isn’t blocked, the received bonus disappears when player makes the cash out.

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Casino frequently adds bonuses automatically after each deposit and as soon as player starts the game the withdrawal is blocked until the bonuses will be won back. Here user has to be attentive, because the balance of real money and bonuses might not be divided and he’ll just see the total amount. It is worth mentioning that in general player uses his real money at the first place and only then starts to play on bonuses. It is possible to find out the left amount, on which gambler has to play in the personal cabinet or from the representative of technical support. Consultant can also cancel the receiving of bonus when player doesn’t want to get it.

How to withdraw money

The usage of free online casino games real money presupposes the receiving of prizes. The process of withdrawal is similar to the making of deposit. Player has to go to banking section, choose the desirable service, which he’ll use, insert some data and wait for money transfer.

As a rule, the minimal amount is equal to the minimal deposit. Otherwise player will see the minimal allowed amount in specific field. Sometimes casinos take additional fees for withdrawal – from 1% to 10% or the fixed sum. The time it takes to transfer money depends on the chosen payment system. The quickest are e-wallets, such as Neteller and Skrill – from 1 to 3 days. The slowest is bank transfer, which may take up to 3 weeks.

It is necessary to note that lots of safe online casinos allow to withdraw money only by the same system with which the deposit mas made. That is why player should be attentive with the choice of payment system while playing on online slot machines real money no deposit, and to know that he might not get his money without minimal deposit.

A few words about history

Casinos history dates back to the ancient times. In Ancient Chine, Greece and Rome there were various gambling houses. The first one in Europe became “Ridotto”. In 1638 Venice government opened this club for controlling the gambling games in the town during the big carnival.

The second mentioning about the work of gambling institution takes us to France of XVII century. In order to boost the coffers cardinal opened casino, where roulette game was played for the first time. Late gambling establishments were opened in Britain, Italy, Germany and from the mid XIX century began mass closings and limitations on gaming activities. At the same time gaming clubs in the USA vice versa began to develop.

At first the main centre of gambling entertainments in America was New Orleans and casinos started to offer such games as poker and blackjack. From the beginning of the XX century on the territory of the USA there also began to appear bans on gambling games. In 1946 in Las Vegas was opened the gambling complex called “Flamingo”, which laid foundation for the creation of the most popular centre of gambling activity in the whole world.

As for online casino, the first one was created in 1997 in the USA. Since then the online gambling activity increased and progressed by creating solid competitor against land-based casinos, partly thanks to free online casino games real money.

Summary

Modern casinos create the most influential market. Any adult user can find on forums interesting gambling website, register and with the help of bonuses win real money in online casino for free. There are various types of payment systems such as Paypal, Skrill, Neteller, which allow to make transactions.

You should always be attentive and read the rules of bonuses and casino. Though some websites will offer free bonuses, they may have certain conditions. It is necessary to carefully read about amounts for winning back, while replenishing the balance or accept bonuses in games to win money.