Fulham Manager Scott Parker must be wringing his hands with despair as bookmaker Paddy Power hammered another nail into his coffin today. The Irish…
The majority of online bookies now provide casino products and when you register at a bookmaker, your sportsbook account and wallet are generally linked automatically to the casino. This means that when you sign up to place sports bets, you instantly have hundreds of online casino games at your fingertips. Now, this can be a good or a bad thing. If you enjoy playing casino games then it can be a handy way to mix up your sports & casino bets using the same balance. But if you’re not interested in casino play at all then it can be an annoyance given that you will most likely receive emails, texts and possibly even calls regarding specific casino promotions.
Even if you’re not interested in playing casino games, you will want to make a profit and so in this article, we’ll be taking a look at some types of casino bonuses which you may get offered and determine whether or not there is any value in them. If there is value, then you may wish to take another look at what casino promos are currently available at the bookies you have accounts with.
However, first, we need to know how casinos make money.
The reason why most online bookies have casinos is because they make a profit. They make a profit as the casino has the edge on every single game. This is known as the ‘House Edge’ which you may have heard of and is the % profit the casino will make on that game on average.
Let’s take Roulette for example which is one of the most popular games in a casino. On a roulette wheel, there are 37 numbers which range from 0-36. Players can bet on a number and if they win, their bet is paid out at 35/1. However, as there are 37 different numbers the ball could land on, a fair payout would be 36/1.
There is a 2.7% chance that the ball will land on a number and as the casino only pays out 35/1 instead of 36/1, they have a one number advantage and so the House Edge for roulette is 2.7%.
As mentioned, the casino has an edge on every other casino game to ensure that they make a profit over time from them. Of course, there’s nothing stopping you placing £100 on red, winning and walking away, leaving the casino down. But if you played for long enough, that 2.7% house edge would show and you the player would eventually be down.
Online slots also have a house edge which is usually displayed as ‘RTP’ or ‘Return To Player’. This isn’t the house edge but rather how much on average a particular slot pays out based on how much is put in. For example, a slot with an RTP of 96% would pay out an average of £96 for every £100 wagered on it. Therefore, the house edge on this slot would be 4%.
Now, we know that casinos have the edge on all casino games so why do people still play them?
The first reason is that despite the casino having a small edge, there is a chance you can still win. Players enjoy the thrill of winning and so even though the odds are against them, there is hope of hitting a big win or going on a winning streak.
Another other reason people play at online casinos is for the bonuses and promotions they can receive. These casino offers, when played correctly, can actually give the player rather than the casino the edge. Casinos know this but they hope that these bonuses will entice the player to make a deposit and eventually lose. They are given for the same reasons bookies give out free bets. Free bets, especially with welcome offers, can be extremely profitable. If you take the Bet365 Welcome Offer for example, you can receive up to £100 in bet credits!
There are various types of casinos bonuses such as free spins, deposit bonuses, cashback and more. Some bonuses obviously have value and with others, it can be harder to tell without doing a bit of math. Gala Spins is one casino which offers customers some great promotions. Along with their welcome offer, throughout 2019, they have been offering customers £10 cash when wagering £20 on Slingo Rainbow Riches. The RTP of this game is 95% and so when wagering £20 on it, you should lose around £1 on average. Of course, you won’t lose exactly £1 every time. Sometimes you’ll win, sometimes you’ll lose, but this would be your average loss on average. So, essentially, you are receiving £10 cash for losing just £1 which makes this offer extremely good value and which is why it has attracted a lot of attention.