Online Lotto Site Bonuses
August 1, 2020
When we think about matched betting, we usually associate the process with free bets and betting offers from online bookmakers. Some of us move onto casino offers which can also be very lucrative but will not return a profit with every offer. Despite there being some risk with casino offers, we choose to do them if they have a positive expected value. This means that on average, we will make a profit from these offers over time.
The same principle can be applied to many of the offers available at online lotto sites. Although offers on lotteries usually won’t return a positive EV, many of the slots or scratchcard offers can. With an increasing number of lottery sites now online, this gives us more chance of extracting EV and increasing our overall profit.
Here is an example of a EV offer from a lotto site:
As a new customer at online lotto site Lottoland, you can choose from a number of welcome offers. These include discounted tickets for various lottos, free spins and discounted scratchcards.
For example, new customers can get 30 Lucky Horseshoe Scratchcards for just £1. Each scratchcard is worth 10p and so essentially, you are getting £3 worth of scratchcards for just £1.
The RTP of some scratchcards is generally very low and in this case, just 50.25%. However, despite the low RTP, this offer still has value. With £3 worth of scratchcards with an RTP of 50.25%, you will receive an average of £1.51 in winnings. This means that for a cost of £1, you will make £0.51 profit, on average, from this offer. Plus, there is a chance you could hit a big win.
Many other online lotto sites have a number of offers available. The majority of these offers are for lotto tickets rather than for slots of scratchcards but if you are planning on playing the lottery anyway, they are worth taking advantage of.
For example, at lotto site TheLotter, you’re able to purchase ‘bundles’ and save up to 10% on tickets for selected worldwide lotteries.
Lotto Offers To Avoid
Many lotto offers have a negative EV. For example, the 10% discount on lotto tickets will be -EV. If you are playing the lotto anyway, then this may not be an issue for you but if you are claiming offers with the intention of extracting value and making a profit, you could calculate the EV prior to claiming the offer.
For example, Lottomart is one of the most popular online lotto sites and offers customers a 100% deposit bonus up to £100 to use on their excellent range of online slots and casino games. However, as with all betting offers, you should read the terms carefully as you are required to wager the bonus 50 times and there is a winnings cap of £500. This means that if you received a £100 bonus, you would have to wager at least £5,000 in order to clear the bonus and withdraw any bonus funds and if you hot a big win, the max you could withdraw from the bonus funds is £500.
Using a casino EV calculator, this makes the offer -EV and so it should be avoided.
Online lotto sites provide an additional avenue for potentially +EV betting offers. Occasionally, you will find an offer with value but they are less common than offers provided by online bookmakers and casinos. Always calculate the EV of any offer before claiming it and ensure that you bet with a site which is licenced by the UK Gambling Commission if you are in the UK.