Are high-risk casino offers worth it?
April 18, 2019
If you’re a member of MatchedBets.com or any other matched betting site, you will have come across casino offers at some point. They come in various forms, just like sports offers do, such as deposit bonuses, no-deposit bonuses or free spins. In the UK all online casinos are regulated by the Gambling Commission which provides peace of mind for players.
The majority of long-term matched bettors dabble in some way or another with casino offers. Many of us claim the odd set of free spins or may wager small amounts to receive bonuses with low wagering requirements. However, there is another level to casino – High-Risk offers.
High-Risk Online Casino Bonuses
High-risk casino offers are not for everyone. You can, and will, lose money on them the majority of the time but if you trust the EV then you will come out on top eventually.
The most common type of high-risk casino offers are the bonuses offered to new customers at an online casino. These are usually credited following your first deposit and can range anywhere between £50 to several thousands of pounds.
Many matched bettors focus solely on high-risk casino offers as there is huge potential to make a lot of money, but only when played correctly. The estimated value (EV) of a casino offer varies depending not only on the terms of the bonus but also on how the player uses that bonus. Cash stake size, bonus stake size and the choice of game are all deciding factors as to whether or not a casino bonus will be profitable in the long term or not.
Another important factor are the wagering requirements attached to a bonus. All high-risk casino bonuses come with wagering requirements which mean that you need to wager a certain amount before the bonus and any winnings generated from playing with the bonus, are converted into withdrawable cash. Some casino bonuses have wagering requirements as high as x70 while some of the best online casino bonuses have wagering requirements as low as x20.
For example, if you received a £100 bonus which had x30 wagering, it means that you must place £300 (£100 x 30) worth of bets before your bonus is converted into cash and can be withdrawn. The higher the wagering requirement, the less profitable the bonus is.
As well as wagering requirements, casino bonuses usually come with other restrictions such as what games you can play. In some circumstances, you may be able to play any casino game with your bonus but only specific ones may contribute towards the wagering. The most popular casino game to play with bonuses is online slots. Slots are very unpredictable but are programmed to pay out a certain amount. This is called the RTP or ‘Return to Player’ and is a fixed percentage which varies between slots and sometimes, at which casino you play the slot at. If a slot has an RTP of 96%, it means that for every £100 wagered on the slot, it will pay out £96 to the player. This doesn’t mean that you will receive back £96 for every £100 you wager every time as sometimes you may receive a lot more or a lot less than that. However, on average, the RTP is the amount the slot will return.
If you are considering getting into high-risk casino offers, make sure that you understand how they work, the correct strategies to use and the potential risks. There is a very good chance that you will go long periods without being in profit and this can get the better of some players. If you do enough offers, the EV will average out eventually and you will be in profit but you have to be able to deal with the downswings both financially and mentally.
Sites like MatchedBets.com can help you understand casino offers better and teach you the correct strategies to maximise the EV of casino bonuses. It is advisable that you first start with low-risk offers to gain experience and knowledge before dipping your toes into high-risk offers.