Online Casino Matched Betting: Benefits, Risks and Tips

With the emergence of online sports betting, thanks to 2018's PAPSA repeal which saw sports betting flourish across the US, many casinos have taken the opportunity to enter the digital world. Most of the online sportsbook operators you’re already familiar with also host well-known online casino games.

Over the last few years, online casinos have become a popular way for people to try their hand against Lady Luck, herself. But what if we told you that there's a way to play the House at its own game, give yourself the edge and actually win money?

In this article, we'll look at how the concept of online casino matched betting works and how its risk-free nature sets it apart from standard online casino gambling. As well as covering the basics, we'll also explore some benefits, potential risks, strategies and top tips for successful online casino matched betting.

Contents

1. What is online casino matched betting?
2. How does online casino matched betting work?
3. Is online casino matched betting legal?
4. Key casino terminology
5. What are the benefits of online casino matched betting?
6. Are there any risks involved?
7. 10 tips for online casino matched betting success
8. Introducing ProfitDuel
9. Conclusion

1. What is online casino matched betting?

Rather than being a concept on its own, ‘online casino matched betting’ is better thought of as the application of matched betting process to online casinos. Let’s take a quick look at what that means…

A quick matched betting explanation

Matched betting is a simple method used to capitalize on the new customer offers and ongoing promotions offered by online sportsbooks. Unlike traditional betting, where success is uncertain, matched betting guarantees profits by covering all possible outcomes of an event. As a result, matched betting is not actually classed as gambling.

So how can this approach be applied to online casinos? And is it a worthwhile side hustle to pursue?

Applying matched betting methodology to online casinos

Just like in sports betting, online casinos also give out promotional offers such as free spins or a deposit bonus. They do this to attract new customers and encourage return visits.

These offers can be utilized alongside other strategies to maximize profits. However, it’s not a case of using free bets in conjunction with placing multiple bets as in matched betting.

When doing online casino matched betting, you need to think about making a profit in the long term; not just day-to-day or offer-by-offer. Why? Because online casino games are designed so that the casino - otherwise known as “The House” - always wins. All casino games and slots are weighted in the house’s favor.

However, the player can take that edge from the house by using the promotional offers provided by the casinos. By only completing the offers where you have the edge, you can make money in the same way the casinos do.

2. How does online casino matched betting work?

1. Set aside a bankroll specifically for the casino, separate from your matched betting bankroll. That way, you won’t have funds tied up when they are needed elsewhere. As always, never bet more than you could afford to lose if something were to go wrong.
   
   
2. Find a casino game with an attached offer. Be aware that if you pick a game without an attached offer, you will just be gambling.
   
   
3. Deposit cash into your casino account. The offer may suggest a minimum deposit amount, so make sure you check. Alternatively, risk-free offers will either require no deposit or a protected deposit with no risk of loss.
   
   
4. Choose an online casino game. Check the terms and conditions of the offer you have chosen. For example, if you are completing a free spins offer, they will only be eligible on specific games.
   
   
5. Complete wagering and move to the next casino offer. Once you’re familiar with the process, you could get through 2-4 offers a day.

3. Is online casino matched betting legal?

Just like online sports betting, online casinos are legal in states where online gambling legislation has been passed. This means that operators and activities are legal and regulated. For an up-to-date list of states where online casino matched betting is legal, click the link.

Some online casinos might not like you using their bonus bets and promotional offers in this way, but that’s just because they don’t like not having the ‘edge’ over players. It is not illegal, at all, to do online casino matched betting.

It’s a good idea to make sure you understand the laws and regulations in your state before engaging in online casino matched betting.

Note: You do not need to be a resident of a state to claim online casino promotions, out-of-state betting is on the rise and its completely legal! Sportsbooks and online casinos use technology to track your location, so as long as you are within the borders of a state where online casinos are legal, you can take part in their offers.

We've only touched on the basics of online casino matched betting and have already seen lots of casino-centric terms. This could be a bit overwhelming if you’ve never used a casino before.

With that in mind, it feels like a good time to take a quick look at some more online casino terminology.

4. Key casino terminology

The House Edge

The "house edge" is a built-in advantage that the casino has over the players. It's a mathematical concept that represents the difference between the real, fair chances of winning a game and the chances that the casino offers to players. It is usually shown as a percentage and is determined by the rules and payouts of the individual game.

In simpler terms, no matter which game you play in a casino, the casino has better odds of making money than you do. This is because all casino games are designed in a way that favors the casino, reducing your chances of winning and the amount you can win. It's how casinos make their profit.

The Player’s Edge

In traditional gambling, the player never has an edge and the house will always win over time. The player's edge comes from using the promotional offers provided by online casinos. These offers are designed to entice players to start gambling and they sometimes hand the edge to the player.

By only completing offers where you have the edge, you can make money in the same way the casinos do. The amount of money you can expect to make on each offer is known as Expected Value…

Expected value

Instead, you need to focus on the Expected Value (EV) of casino matched betting. This is how you’ll maximize your online casino profits. EV is a long-term average value and is calculated like this:

There may be times when you feel like you just can’t win. This is when it is very important to trust the long-term value of offers and turn your daily or weekly targets into long-term goals. For example, it might not be possible to earn $20 in profit each day.

Instead, aim for a total of $1500 +EV in the next ten weeks, which is roughly $21 +EV per day. That way, you can anticipate both successful and unsuccessful days, but it won't bother you since you'll be striving for a long-term objective, and your profit chart will display a gradual rise in earnings over time. Ultimately, your average daily profit should approach your daily EV.

Return to Player

Return to Player (RTP) is a term used in online casinos to describe the average amount of money you can expect to get back from a casino game over time. For example, if a game has an RTP of 96%, it means that, on average, a player can expect to win back $96 for every $100 that they wager. 

By using the highest RTP games, you can maximize your EV and achieve long-term profits. Always follow the +EV strategy (minimum stakes and maximum lines) for optimal results.

Variance

Variance can be thought of as how often a game pays out. It is important to be aware of this because if you use high variance games all the time, you might be more likely to encounter a long losing streak before you start to see your expected value.

Low variance

A low variance slot will pay out little and often meaning you stay closer to the RTP even after only a few spins. If you have a limited bank available, stick to low variance games to make sure that you make slow and steady profits.

High variance

A high variance slot will pay out higher amounts but much less often meaning it may take many more spins to get the expected return.

5. What are the benefits of online casino matched betting?

• Extra money in your bank account: This is the main benefit of any successful side hustle and definitely what you should be looking for with online casino matched betting.
  
  
• Give yourself the edge: Apply matched betting methodology to online casino activity to eliminate the risks associated with traditional gambling. Remove chance with a risk-free approach to betting and build your profits as you go.
  
  
• Low initial investment: The more money you can put into online casino matched betting in the beginning, the quicker you’ll be able to build up your bankroll. However, you can start with a small bankroll and gradually build your funds over time.
  
  
• Flexible enough to fit any schedule: As long as you are in a state where gambling legislation has been passed and online casinos operate legally, you can do casino matched betting anywhere and at any time.
  
  
• Skill development: Gain even a basic understanding of casino games, strategies and terminology.

In the interests of balance, it's important to note that while online casino matched betting has its benefits, it also comes with a few potential risks.

6. Are there any risks involved?

Like any investment or betting activity, there are things to be aware of when online casino matched betting. However, if you take a few moments to familiarize yourself with the potential pitfalls, you can avoid them. Also, use reputable resources and communities where experienced matched bettors share their knowledge and insights.

• Potential for human error. It is so important to take your time, check your calculations and read the T&Cs of each individual offer. Mistakes in placing bets or calculations can lead to losses.
  
  
• Unlike matched betting, profit is not always guaranteed. Expected value (EV) is based on averages and they may not always be in your favor. Don’t be disheartened if you bust out and don’t finish the offer in profit. You were just on the wrong side of variance in this instance, but there are always plenty more offers to balance this out.
  
  
• Making impulsive bets outside of your strategy. Online casinos are designed to be enticing and can be addictive to certain individuals. Therefore, it’s imperative to set limits for yourself and only participate in matched betting as a means of making extra money; not as a primary source of income. Remember: online casino matched betting is a long-term game and success comes from consistent and calculated actions.
  
  
• Account limitations or closure. While online casino matched betting is legal in many states, casinos have the right to restrict or refuse service to anyone they deem to be exploiting their promotions. This is why it's crucial to follow the T&Cs of each casino and avoid suspicious activities that may raise red flags.

But you don’t have to do all of the above on your own. There is support, software, and training available, which we'll get to shortly.

7. 10 tips for online casino matched betting success

A range of matched betting strategies and tips apply for matched betting on sports, but when it comes to casino matched betting, it's there are some differences. 

In this section, we’ll cover some key tips, techniques and approaches to mindset that can give you the edge.

1. Understand the concept. Before you head into online casino matched betting, it's crucial to understand that profits should be calculated over time rather than from individual offers.
   
   
2. Eliminate emotion. Don’t get too wrapped up in the game and watch every spin religiously. This isn’t something to get emotionally invested in. Remember: you’re playing the long game and there will be wins and losses along the way.
   
   
3. Trust in the EV. Set long-term goals instead of focusing on your daily wins and losses. For example, instead of aiming for a daily profit of $20, think about achieving a total of $1500 +EV in the next ten weeks. That’s roughly $21 +EV per day.
   
   This way, (un)successful days won’t matter because you’ll be able to see the bigger picture and you’ll see your profits gradually rising over time.
   
   
4. Do the math. It's important not to form attachments to particular games. Instead, look for the casino games with the highest RTP and variance suited for the terms of the offer you’re completing. This is how you’ll maximize your profits.
   
   
5. Never chase losses. Don’t get sucked into gambling: “Just one more spin” in case a machine is ready to pay out ‘big time’. Remember: the machines are not programmed specifically for an individual user so the RTP is spread across thousands of players.
   
   If you find yourself in this position, please reach out for help. The ProfitDuel team are trained on gambling addiction and there is also help available externally. Visit https://www.begambleaware.org/advice-if-you-are-gambling] or call 1-800-GAMBLER for help.
   
   
6. Practice bankroll management. Set yourself a budget for your betting activities, start small and reinvest your online casino matched betting profits. Track your progress to ensure that your betting activities remain sustainable and profitable in the long run.
   
   
7. Keep track of your bets using tools like profit trackers, so that you can analyze your strategies, identify any potential patterns and make adjustments accordingly.'
   
   
8. Use the tools at hand. Matched betting tools and software exist to help you find the best opportunities, calculate your bets and profits, and track your progress. These tools and calculators can save you time and effort, ultimately maximizing your profits.
   
   
9. Maximize profit potential by taking advantage of as many online casino matched betting opportunities as possible. Casinos frequently update their promotions and offers. Stay updated by subscribing to newsletters or joining online matched betting forums and communities.
   
   Consider signing up at multiple online casinos to access a variety of sign-up offers. However, do not multi-account. Always read the T&Cs to understand the wagering requirements before proceeding.
   
   Once you’ve exhausted all of the new account offers, you can take advantage of the reload bonuses offered to existing members. This will take your online casino matched betting side hustle long-term.
   
   
10. Use a proven matched betting platform. This is probably the most important tip on this list. You don’t have to figure online casino matched betting out on your own. Choose the right platform and you’ll hit the jackpot in terms of a safer, easier, more enjoyable and more profitable experience.

8. Introducing ProfitDuel

More than a matched betting platform

As well as being America’s favorite matched betting service, ProfitDuel can also support your online casino matched betting side hustle.

ProfitDuel finds all the best offers that give the player a positive EV and posts them directly to both your dashboard and our offer listings pages. As well as reviews, each offer comes with a strategy guide which tells you the best way to approach the offer, the best slots to use and exactly what to do to profit.

As well as the offers you find on ProfitDuel, you might also receive exclusive promotions directly from the casinos you are signed up for. These are often referred to as “Invite Only” offers.

It is important to remember that these offers may or may not have a positive expected value. When you receive one of these offers you can use the tools and knowledge available on this site to calculate whether or not you should complete the offer.

As well as the software, offer guides and information available on ProfitDuel, you can also message our support team for help and advice. Members can also join our fantastic online community on our ProfitDuel Discord server.

The best part? We're offering new members ProfitDuel Premium for half the price in their first month. So give us a try and see how much risk-free cash you could earn.

9. Conclusion

In summary, online casino matched betting offers a strategic approach to capitalize on promotional offers provided by online casinos.

By applying matched betting methods, you can gain an edge and turn the odds in your favor, all while avoiding the uncertainties of traditional gambling. Understanding casino terminology, focusing on expected value, and implementing sound strategies are crucial for long-term success.

A service like ProfitDuel can also play a key role in determining your side hustle success by curating low-risk offers, providing strategy guides and offering support. Save time and effort while maximizing your profits.