So if you are player who wants to make money from an online casino it’d probably be best to claim a bonus now. Over $1,000 In Bonus Money Available At any given moment, a player has over 50 online no deposit casinos offering these no deposit bonuses (also known as ND bonus) ranging from $5 to $50. A handle is the total amount of money that players bet in this or that game. To get an income, casinos need to find a way to boost their house edge and make players spend more time playing games. The more they bet, the more money casinos earn. This is a statistical advantage that helps casinos to make more money. The lower the house.

For example, baccarat is one of the best online casino game to make money and we have a detailed guide about it. Register today at Big5Casino to benefit from this amazing welcome bonus: Get a 100% up to €500 on your first deposit with a minimum deposit of €20.

Presently, the share of the service sector in the UK takes up around 79% of the economy. This shows that the most profitable businesses are the ones that offer a certain type of services. Since the casinos offer gaming services, it is no wonder that the iGaming industry is gradually expanding. The service all online casinos provide is entertainment that you can get through playing a particular game. Behind every online casino, there are many people who work towards the same goal – to assure that the provided gaming services are of the highest quality.

However, since you get entertained by playing a casino game, there are only two possible outcomes – to either win or lose. Therefore, the inevitable question whether or not it is possible to make money with online casinos arises. Another thing that comes to mind is whether some casino games truly offer better odds.

Moreover, presently there are many professional gamblers who further raise novice players’ hopes that it is not only possible to make money by gambling at online casinos but also to make this activity a lifestyle. However, you should know that this task is not easily achievable and it takes some preparations and skills in order to manage to make a consistent profit by playing at online casinos.

Choose the Games that Offer the Best Odds

One of the things which you should take into account if you want to not only have fun when playing at an online casino but also make a profit is the house edge and the odds a particular game offers. The reason why it is so important to get familiar with these factors is that thanks to them, you will be able to determine the most beneficial game for you. Generally speaking, the higher the house edge, the lower the chances are to win the game. The house edge is the term which describes the built-in advantage of the casino or in other words, the percentage of all wagered money that you are expected to get in the long term.

Therefore, your chances of winning greatly depend on the game of your choice. In general, it is recommended to choose games whose outcome can be influenced by a strategy and knowledge. These types of games are known as skill-based games as they require much more than just luck to be won. This works in favour of the players since it can help them decrease the house edge significantly and improve their game.

Some of the most popular such games are blackjack and video poker as in them you can follow a strategy and make better choices for your cards. This way, you can minimize your losses and make your bankroll last for much longer. In skill-based games, it is crucial to manage to play long enough in the game so that you can apply your strategy correctly and make it work. These games are not only fun to play but are also extremely interesting. You can make some extra cash while getting entertained at the comfort of your surroundings.

Another important term which you should get familiar with is the Return to Player (RTP) percentage. It is directly linked with the house edge and it indicates the percentage of all bets that you will get back from a particular casino game in the long term. Therefore, you should look for games that offer a high RTP percentage as they are the most beneficial ones. Such games are blackjack, roulette, video poker and others. Bear in mind that the house edge and the RTP are dynamic measurements which change every time the rules of the game are altered.

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Money Management Strategy

In order to manage to make a consistent profit while playing at an online casino, you also need to have a money management plan. Otherwise, you are bound to spend all of your winnings eventually and end up with your initial bankroll or even in a worse position. First of all, it is highly recommended to divide your bankroll into several parts which you can use for different games or sessions. This way, you will have a general idea of your available funds and you will be able to place reasonable bets that correspond to your bankroll.

Also, it is essential to choose a game whose table limits suit your bankroll for the day. Make sure to always look at the minimum bet limit a particular game has as this is the amount that you will be required to place every time in order to stay in the game. Bear in mind that most online casinos have a wide range of variations which offer different table limits. When you play online, it is much easier to find the game that suits your betting style best as all you need to do is to browse through the casino website.

Another essential money management plan, many professional gamblers use, features win goals and loss limits. In order to manage to make a profit and most importantly, retain it after you finish playing, you should impose certain restrictions on your funds. The loss limit will indicate the amount that it is acceptable to lose during a particular session, whereas the win goal will show you the best time to withdraw from the game in order to keep your winnings. The win goal and the loss limit are strictly individual as they entirely depend on the available funds the player has.

Last but not least, many gambling experts advise that the best way to make money with online casinos is to aim at making small, achievable profits rather than colossal amounts. The key to make a consistent profit from gambling is to play more regularly and stick to your win goals. From a statistical point of view, since every game has a house edge, you are bound to lose in the long term, if you don’t have a money management plan and a strategy how to turn the tables.

Conclusion

While it is true that it is possible to make money with online casinos, you should always view gambling mainly as a source of entertainment. Bear in mind that all casino games have a built-in advantage which will eventually cause you to lose money. Therefore, it is best to simply enjoy the casino game of your choice and make the most of your time online. If you play skill-based games and have a money management strategy, you can have fun and at the same time, make a profit. As long as you gamble responsibly and enjoy yourself, you will definitely get the most out of every casino game.

FAQ

Is it possible to make money with online casinos?

If you were to seek the latest gambling news, you would find out that nowadays, there are many professional players who have what it takes to make this popular form of entertainment a profitable hobby. However, this is something which is surely not suitable for everyone. The core purpose of gambling is nothing but entertainment which can be accompanied by profits from time to time.

If you want to make money with online casinos, you have to take your time to prepare and learn all of the subtleties in the industry. For instance, you should know which games are beneficial and which ones don’t have decent odds. In addition, you have to possess virtues such as patience and discipline as they play a crucial role in this process.

Which are the most profitable casino games that can be played online?

In general, the most profitable casino games are the ones that feature progressive jackpots as in them, the payout can reach a life-changing amount. Progressive online slots are famous for offering substantial prizes of $10 million and more on a regular basis which is definitely an amount that is worth playing for. Mega Moolah, Major Millions and Mega Fortune are some of the slot games which have fetched many players colossal amounts. However, slots are not the only profitable games today on which you can try your luck. It is possible to play other casino games such as blackjack, roulette and video poker which also feature progressive jackpots.

What is the maximum amount of money that someone can win at an online casino?

The maximum amount of money that you or any other player can win is not predetermined in any way, especially if you are playing a progressive jackpot game in which the payout is constantly increasing. There isn’t an actual limit that the online casinos set in advance as the outcome of the games is completely random every time. In this aspect, online casinos highly resemble their land-based counterparts as in both, the dealing of the cards, the spinning of the wheel and the rolling of the dice are activities whose final result cannot be predicted.

In other words, you can win big in a split second and become a millionaire overnight. However, bear in mind that the opposite case is also possible – you can lose your entire bankroll pretty quick if you don’t keep track of your spendings properly. After all, the fact that all casino games contain a certain dose of risk is one of the things that make gambling an exciting and entertaining activity.

Is it necessary to have a money management strategy?

Yes, it is. Having a strategy for your money is just as important as having a strategy for your moves when applicable. What is more, without a reliable plan for your bankroll, you are bound to lose all of your winnings. Even if you are a proficient player in skill-based games such as blackjack and video poker, if you don’t know how to manage your winnings, you won’t be able to retain them. It is highly recommended to always keep track of your funds and be aware of your bankroll during the course of the game in order to prevent yourself from overspending.

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.

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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!

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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:

• 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.

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.

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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.