Introduction

It’s no secret that gambling is irresistibly fun. It’s so fun, in fact, that it’s something of a top pastime (see: addiction) for many individuals around the world. And, if you’re wondering where all these people gamble, they go to the UK's best online casinos of course!

Just think about it: of 20 Premier League clubs in the 21-22 Season, eight have gambling sites or companies as their shirt sponsors. Look across the channels to mainland Europe, and you’ll see that this number used to be matched by other football leagues like La Liga or Serie A (until they all collectively said NO to betting sponsors). Now drop one tier below the Premier League: you’ll even see a certain stadium in Stoke-on-Trent whose name sticks out like a sore thumb.

People love gambling. Online casinos make a ton of money.

Evidently, this advertising costs a lot: top football clubs aren’t exactly known for being 'cheap' to sponsor. So how is it on top of this massive advertising spend with commercials and shirts and whatnot… casinos can afford to give free money to new users of their site through welcome bonuses?

Think about it.

What’s stopping a gambler from just making accounts on tons of different sites and just reaping the benefits?

Why would anyone hand out money for free?

Hmm.

1. It’s Not Really 'Free Money'

It’s a simple concept to understand: compare bonuses to advertising spend, and it makes sense for burgeoning gamblers to believe casinos would part with their money willingly — all in the hopes of getting (or keeping) another customer within their ranks. The only difference is that instead of the money going to advertisers or famous people in production shoots, the money now lines the gambler’s pocket directly.

Wrong. 

It’s only ‘free money in the same sense that a supermarket voucher is equivalent to money: it’s only worth anything at the supermarket you got it from. Now, instead of thinking of a supermarket that just wants to make money off you by selling slightly overpriced apples, think of a corporation that literally only makes money when you lose to them.

Welcome bonuses are often given out in ‘betting credit’ that cannot be withdrawn until you’ve hit a checklist including a million esoteric conditions. Bet X amount on Z game, wager Y times, agree that Ronaldo’s better than Messi, blah blah blah. Certain sites only release their 'welcome bonuses' after you’ve wagered an amount that’s approximately 10 to 20 times the bonus: according to the math, you’ve probably lost an amount comparable to that to the casino by the time you’re even close to the moolah. In this case, the casino didn’t pay you anything, they kind of just let you play for free (to get on your good side). Now, after your welcome period, they set you on a 'veteran bonus' scheme: get £80 in bonuses for every £100 you lose to them (according to the house edge, which we’ll cover later).

2. To Turn 'Free Money' Into Free Money, Work on Your Knowledge

Because the average gambler still continues losing to the casino even with bonuses, they will continue to make money. However, if you are reading this, you probably do not want to be the average gambler.

You want to win money.

And I will therefore reassure you with the knowledge that, yes, it is indeed possible to be profitable.

It starts with an understanding of ‘house edge’. Simply, it refers to the percentage of money that a casino is expected to win for every £100 gambled. With a 3% house edge, you will walk away with £97 for every £100 you put into the game, and the casino £3.

In other words, the negative return on your bet.

This applies as a law of big averages. Of course, in a single night, it would be possible for you to put £100 into a slot machine and come away with £4000. Sadly, for the 45 other poor souls who also chose to gamble £100 that night, they weren’t as lucky as you. 

Gambler’s expenses: £4600

Casino’s expenses: £4000

The casino walks away with £600 in profit, despite you being the lucky one. This slot machine example demonstrates a rather large house edge of above 10%.

These house edges are always present, even with extremely skilled play. The house edge in blackjack is 2%, assuming perfect strategy without card counting. European roulette has a house edge of 2.7%. There’s no house edge per se in Texas Hold’Em as you’re playing against other people, but a casino rake will push the average player into the red. The trick to becoming a profitable gambler is thus to pick games with the lowest house edge.

Still, this doesn’t answer the question: if every game has a house edge, how are gamblers supposed to make money? The answer isn’t to ‘get lucky, it’s related to the bonuses we talked about earlier. Ergo…

3. Use Bonuses to Absorb the House Edge

Did you know? When it comes to online poker, most casinos would be losing players without bonuses.

For example, a full-time online poker player who plays at 10-12 tables simultaneously may not have the mental capacity to play every hand perfectly. He’s gonna make mistakes. Still, for the most part, he’s still solid enough to win £98 for every £100 paid to the casino in rake… but that’s still a net loss of £2.

But, once you add in the cashback programme (a bonus offered by any online poker platform worth their salt), he gets £15 back for that £100 he paid to the casino. That puts him at a £13 profit. He is now a money-maker. And at the higher stakes, these gamblers can afford, they can grind out £100s of rake in a matter of minutes. 

This is the real application of bonuses — to absorb some of the house edges, and at times, even turn them on their head.

The main issue with average gamblers is that they take these bonuses and proceed to waste them away on games with extremely high house edge: they might mathematically get a 2-3% rebate from a bonus, but their choice to then punt it off on slot machines or unlikely sports bets grinds their 'free money into Thanos dust. The key to being a good gambler is a mixture of skill, strategy, maths and of course, luck — but the game selection is important too.

Conclusion

Generally speaking, beating a casino is hard. They are designed to win your money. That is the fundamental truth of the situation, and why casinos can offer tons of seemingly lucrative bonuses while sponsoring PL clubs.

Even so, with enough skill and a conscious effort to be aware of the tricks casinos use, you can beat them. Hopefully, you’ll apply some of the lessons from this article to do so: but maybe start by cutting Craps and Slots from your gambling diet.