How to Profit From Online Slots Offers & Why You Should Do Them
We’ve had a lot of interest about slot offers lately and in particular return to player percentages (RTP). So naturally we thought we’d create a guide on slot offers, why slot offers are worth getting involved in and how you can maximise your returns from them.
So, what exactly is RTP or a return to player percentage? Well for starters every online slot machine has one. An RTP is the estimated return that a player will receive from their slots play, calculated on a slots previous performance over millions of spins. Think of RTP like the rating figure on Automatcher. If a slot machine has an RTP of 95%, you can expect an average return of 95%, meaning you’d lose around £5 from every £100 worth of spins, or 50p from every £10 i.e 5% of your starting balance. Now this figure is not set in stone and you could in fact lose more or win considerably more but on average over the duration of play, you should expect around a 95% return overall.
To ensure we always try to play at the optimum RTP available, we can simply reduce the variance on the slot machines by adopting the minimum stake / maximum lines strategy. This simply means you chose the lowest stake possible but still cover the maximum amount of lines on the slot machine. The reason why this is effective, is because we get the maximum amount of spins possible for our money and this increases the likelihood of providing more chances for us to win our money back.
The great thing about online slots offers, is that the bookmakers will still allow you to use them even when you’re accounts have been gubbed. The reason for this is that the maths is always in the bookmakers favour when you play casino games and slots, so of course the bookmakers encourage users to play them. Take the example above, if the slot has a 95% RTP, the bookie stands to make around £5 from every £100 you bet. And when you consider how popular casino games and slots are, it’s not difficult to see just how lucrative these games are for online bookmakers. The odds are always in their favour and it’s not a gamble for them, hence the reason the UK government wants to crack down on fixed odds betting machines and quite rightly so.
So taking all of the above into consideration, if we know the slots RTP and also the slot offers wagering requirement, we can use these two figures to easily work out the expected value (EV) for any online slots offer. We can then apply a simple rule, if the expected Value of a slot offer is positive then the offer is worth doing as you stand to make a profit overall over time, just like the bookmakers do as the odds will be in your favour. However, if the expected value is negative then you should stay well clear as you will stand to lose. Now it should be noted that just because a slot offer has a positive EV it does not mean that you are guaranteed to win every single time, sometimes you may in fact lose. What you need to do is ride out the variance and trust the maths over time, since if you always choose offers with a positive EV, in the long run you’ll stand to win.
Let take the following slot offer as an example:
Wager £25 for a £5 bonus, bonus must be wagered 5x before withdrawal
So to qualify for the bonus we must first stake £25 on an online slot and then stake an additional £25 to convert the free £5 bonus into withdrawable cash. At first this may appear like a poor bonus and one that you will lose money on, but in fact when the slots RTP of 95% is considered this offer actually has a positive EV so the offer is worth participating in.
If the slots RTP is 95% we would expect to lose £1.25 from the first £25 worth of play, followed by another £1.25 when having to wager the £5 bonus a further 5x. This means we’d expect to lose £2.50 in total from the £5 bonus leaving us with an overall profit of £2.50. So the Expected Value = £2.50
Of course, you can see that if the RTP is higher then we’d expect this offer to be more profitable so you always want to try and play on the eligible slot with the highest RTP. ALWAYS LOOK FOR THE SLOT WITH THE HIGHEST RTP
So to recap, if an offer has a positive EV then its worth doing, if it has a negative EV then you should ignore it and proceed to the next offer.
In most cases the bookmaker or casino will specify which slots you must use to qualify for the slots bonus offer in question. But then once the bonus has been received they’ll allow you to use any slot machine to wager your bonus. You should remember this and change your slot to the one with the highest RTP % whenever necessary.
A number of bookmakers now offer free slots bonuses in return for you making a qualifying bet on sports. When this is the case you can simply calculate the RTP from your qualifying bet at 95% to work out the EV.
For instance, Ladbrokes frequently offers a £5 slots bonus with 10x wager in return for a £20 bet on football. Remember offers such as these offer much lower variance since we can guarantee our return from the qualifying bet.
95% of £20 = £19 (£1 Loss)
95% of £50 = £47.50 (£2.50 Loss)
EV = £1.50 (£5 Bonus - £3.50 Loss)
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return to player percentages