In this article I firstly introduce Mike Cruickshank and then review each of his main money-making sports betting products.

Who Is Mike Cruickshank? What Does He Do?

Mike Cruickshank is an industry leading creator of low risk betting systems. All of his strategies are based on mathematically sound principles, and most of them involve hedging: betting against one outcome with other bookmaker/exchanges so that your betting bank is never at risk.

Readers of this site will be familiar with some of the methods Mike teaches including matched betting, casino bonus bagging, arbitrage betting, value betting, sports trading on Betfair — and combinations of them used together.

However, Mike has spent the past decade not only sharing his knowledge, but also producing software that weaves elements of these proven methods together into a one-stop shop for aspiring professional bettors.

Why Should I Trust Mike Cruickshank Products?

Sports betting is rife with scam artists who sell e-books, tips, software, and strategies that offer little or no value. Mike Cruickshank doesn’t fall into this category.

Admittedly from the outside Mike Cruickshank’s software looks a lot like most other “money making” products: big promises with a subscription fee attached. And on that basis, you could easily dismiss his wide array of tools.

However, unlike the majority of other so-called sports betting experts and gurus, Mike’s promises aren’t hollow. The techniques he teaches, and tools he provides, guide members to guaranteed — or low risk — profits.

His videos and resources are indicative of an experienced, knowledgeable bettor that genuinely understands the importance of gaining a mathematical edge, staying rigid, and completely removing luck from the equation.

In other words, his software is not a waste of money.

What Products Does Mike Cruickshank Sell?

The main product packages he currently sells are:

• Profit Maximiser — a popular matched betting service
• Each Way Sniper — an Each Way arb finder
• EV Maximiser — a casino bonus bagging course
• Betting Mastermind — all of the above three products, plus many others, rolled into one.

Let’s take a look at each of these sports betting product packages one by one…

1. Profit Maximiser

Profit Maximiser is a complete Matched Betting tool kit & low risk betting package, helping to set bettors onto a professional path. It’s the most well-known product offered by Mike Cruickshank.

If you’re not yet familiar with with Matched Betting, then check out my beginner’s guide. The process involves generating a risk free profit using Bookmaker free bets and promotions.

In some ways Profit Maximiser is the “suped-up” version of its (rather basic) predecessor — named ‘Bonus Bagging’ — with many more features and a much improved layout.

Profit Maximiser includes a lot of very lengthy, detailed, video tutorials to teach members about all intricacies of the Matched Betting process, along with an extensive list of offers to tackle. This is all very valuable to members.

The main tools available on Profit Maximiser are as follows:

• Matched Betting Calculator
• Odds Converter
• Bet log (for recording progress)
• Daily offers calendar
• Spread Betting offers
• Bingo offers
• Casino offers
  • Advanced casino offers

Cost: ￡12 per month, or ￡116.40 per year.

Using The Product

As a new member, you should begin with the “Start Here” button — which outlines a very clear road map to follow. This firstly points users towards tutorial videos, before moving onto the next stage.

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Mike’s videos aren’t as polished as those you’ll find on some of the more expensive Matched Betting services. But they’re designed for those wanting to understand exactly what’s going on with matched betting rather than merely following a set of instructions. It sets up bettors up for continued growth.

Following on from the videos, members can immediately begin generating money through matched betting with no further delay. For this, there’s a large list of bookmakers offering free bets to new customers. Clicking one of them will direct you to concise instructions of how to profit from their current signup promotion.

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The Odds Matcher and Calculators included with Profit Maximiser makes it very easy to find a suitable event, and to work out the correct stakes to place at bookies and betting exchanges. It loads fast, has a huge list of compatible bookmakers, consistently shows arbitrage bets (where the match rating is over 100%), and works just as well as the competitors’ versions.

SUBSCRIBE TO PROFIT MAXIMISER

What’s next after the signup bonuses?

Profit Maximiser also provides detailed information on other more specific offer types — such as financial, bingo, casino — along with a calendar showing daily offers (commonly known as ‘reloads’). This ensures that members receive ongoing value beyond the initial bookmaker signup offers.

Over the course of two days, my Profit Maximiser was notified of over 40 new reload bonuses to tackle. There really is so much value to scoop up using the information on this service.

Verdict

Is Profit Maximiser as fancy as the leading matched betting services? No.

Does Profit Maximiser provide the resources & tools necessary to help members learn the ropes and consistently earn from matched betting? Absolutely — and for a small cost!

Profit Maximiser is only ￡12 per month, or ￡116.40 per year.

For those looking for a low-cost matched bet finder, excellent tutorials, a list of current signup offers, ongoing offers, and a more personal (albeit no thrills) experience — look no further than Profit Maximiser.

2. Each Way Sniper

The Each Way Sniper enables bettors to exploit Each Way arbitrage opportunities on horse racing. It works by identifying cases when the difference in the bookmaker’s EW odds and the Betfair Place & Win Lay odds differ enough to create a risk free betting opportunity.

Each Way arbing employs the “back and lay” process used in matched betting (as taught by Profit Maximiser). The main difference with an arbitrage bet?is that it doesn’t rely on free bets to generate a profit.

To learn the basic principles of arbitrage betting, see my arbing guide.

Here’s what’s included with Each Way Sniper (or ‘EWS’ for short):

• Training resources
• Calculators
• Software for:
  • Each Way horse racing and golf arbs
  • Dutching

Cost: ￡1 for 14 days, or ￡118 for an entire year.

Using The Product

To get to grips with the Each Way Sniper, Mike has put together a collection of video tutorials. This is where new members should start out. As with all of Mike’s videos, the content is comprehensive and informative.

Those from a matched betting/arbing background will find all EWS learning materials very intuitive, as it builds on prior knowledge. However, even a complete newcomer can learn everything they need to know about Each Way arbing within a couple of hours. It’s pretty straightforward.

Once you understand the process, you can head straight over to the software section to start identifying Each Way arbitrage bets to “snipe” (on race days). These all appear in a table that’s very similar to the matched bet finder.

Take the following Each Way arb scenario as an example:

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The calculations provided show that a profit of ￡1.35 profit is completely risk free (provided you place all bets, of course!). The key thing to note here is that in the Win market alone, there’s no arbitrage opportunity. But the low Betfair Place Lay odds (1.5) create a misalignment between the Bookies theoretical Place odds of 1.82, enabling a risk free bet.

Additional Bet Types

Mike has extended EWS to include additional features:

1. Golf arb finder
2. Extra Place Dutching.

The Golf arb finder is almost identical to the horse racing version, accessed via a different page. It enables users to earn risk free profits from EW golf bets.

The Dutching calculator, however, is an entirely different piece of software altogether. It helps users to capitalise on “extra place” promotions at bookies to lock in a profit by backing every horse in the race. This requires a lot of different stakes, but no need to use the betting exchange. It’s a highly profitable system that, again, is mathematically sound.

“Value System”

Lastly, Mike incorporates a “value system” section into his Each Way Sniper. This is not an entirely new strategy in itself. It’s simply a riskier approach to EW arbing that involves no hedging (i.e. betting at bookies without placing Lay bets on the exchange).

I know for a fact that the riskier “value system” approach is more profitable than regular EW arbing in the long run. The obvious downside is that losing runs will be disheartening… and damaging to your bankroll.

Verdict

The Each Way sniper is not an all-encompassing piece of arbitrage software for multiple sports and bet types — like RebelBetting.

It is, however, a tool that focuses on one particular type of arb. It works brilliantly, and during the time I wrote this section of the review, my Each Way Sniper detected several opportunities.

The price of Each Way Sniper is ￡1 for 14 days, or ￡118 for an entire year.

At that cost I have absolutely no doubts, provided your Bookmaker accounts are not heavily all limited, that you’ll earn a comfortable profit using this product. Although, as with any winning system, your accounts will eventually be limited.

3. EV Maximiser

EV Maximiser is a Casino Bonus Bagging training resource that includes several articles and calculation tools. It’s designed for those keen to venture further down the advantage play route.

I’ve provided some details about Bonus Bagging on this site. Mathematically speaking, it’s sound. But the process is notorious for creating player/casino disputes. You’ll inevitably need to fight for payouts at some stage; so be prepared for that. This isn’t for everyone.

Cost: ￡59.99 one-off fee.

Using The Product

New EV Maximiser members need to log in and access the ‘Training’ section. From here they’re able to follow an entire course — including video explanations — on how to tackle casino bonuses. Below is snippet of some of the topics covered:

SUBSCRIBE TO EV MAXIMISER

Members are provided with calculators and data simulators to work out the EV (expected value) of casino offers before taking them on.

While the information is clear and accurate, and the tools are excellent — the obvious downside to the EV Maximiser package is that there’s no Casino bonus list included. This is a shame, because without the offers provided, you’re going to need to search for them yourself. This means only the most devoted bettors will truly succeed in applying this method.

Verdict

EV Maximiser is well laid out, and provides sound information on little-known casino bonus strategies.

However, I find it the least appealing product in Mike’s large offering. Casino Bonus Bagging is a niche that only risk averse players should venture into. Furthermore, there are some other free resources that could be an equally good starting point for beginners — such as BeatingBonuses.

EV Maximiser costs a ￡59.99 one-off fee.

The price is, however, very competitive and help is always at hand. And it’s worth remembering that assistance is very difficult to come by in such a secretive realm of online money-making.

Nonetheless, I view EV Maximiser as no more than a ‘sweetener’. It’s a product that works best as part of a larger package involving multiple lines of attack. That larger package is Betting Mastermind (up next).

4. Betting Mastermind

Betting Mastermind is the ultimate package from Mike Cruickshank — which includes Profit Maximiser, Each Way Sniper, EV Maximiser and several more products that I’ll detail in this section.

While the content is superb, the individual parts of Betting Mastermind are not particularly well integrated from a user interface standpoint. It feels as though its parts came from individually sold items, now bundled together. While this takes away from the user experience a little, it’s a minor gripe in the grand scheme of things.

Here’s all additional components of Betting Mastermind:

1. Bonus Bagging
2. Accumulator Generator
3. Bookie Blowout
4. Golden Parachute
5. Dutching Bounty
6. Acca Booster
7. Betfair Sniper
8. Betfair 1% Club
9. Betfair Renegade

Cost: ￡216 or 4 x ￡58.80. ￡40 yearly admin fee. All other costs are waived for life.

1. Bonus Bagging

Bonus Bagging is the name of Mike’s entry-level product. It’s a very basic Matched Betting information service.

To get started with Bonus Bagging, users need to log in to their account and click the ‘Request new bet’ to receive information (via email) about a bookmaker signup promotion. This email will provide a bet that you need to immediately place using a new bookmaker account in order to trigger a free bet. Learn about bookmaker free bet types.

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Once you’ve placed the initial bet, to realise a profit you must continue following the next instructions from either the ‘Rollover’ or ‘Claim Free Bet’ section — depending on what type of promotion you’ve started. You can request missed bets if you didn’t complete the instructions before the odds changed, or the sports event ended.

Profit Maximiser has, in my opinion, made this whole system pretty redundant. It doesn’t have huge value, aside from regular emails containing information on new reload bonuses.

2. Accumulator Generator

Accumulator Generator enables bettors to take advantage of bookmakers’ accumulator refunds.?I would recommend this product to anyone that’s already familiar with matched betting.

I must admit, accumulators are one area of professional sports betting that I’ve never properly looked into. So I was pleasantly surprised to discover that there were multiple ways of earning from them. These types of profitable techniques occasionally crop up in lengthy sports betting forums, but are rarely wrapped in a software package for the public to utilise.

Mike not only provides the vital knowledge through Accumulator Generator — but also a list of the latest accumulator bonuses, as well as the calculators to do the maths. This is everything you’ll need to start making profits from accas.

3. Bookie Blowout

Bookie Blowout is a service whereby Mike provides early horse racing selections via email on a daily basis. The idea is that his selections will shorten in price, enabling bettors to Lay them off (using Betfair or another exchange), to lock in a profit on the race day. In many ways, Bookie Blowout functions like a Tipster service.

Advice comes in the following format:

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The package comes complete with a lengthy PDF, along with some easy-to-use calculators, and several videos. The selections Mike provides specialise in a beating the Start Price (closing line). When mastered, beating the SP is, in my opinion, the Holy Grail of sports betting.

Having read Mike’s PDF, I was able to get an inkling as to the types of methods he might be using to pre-empt odds that’ll drop on the day of the race. Generally, it seems that the early odds are often vastly inaccurate and quickly sharpen up on the race day, which makes sense.

Admittedly, I haven’t verified a large enough set of results to prove the service consistently delivers value. Reliable sources state that this service works, but ultimately leads to your accounts being limited. Standard.

4. Golden Parachute

The Golden Parachute method takes advantage of bookies’ Best Odds Guaranteed (BOG) — where if the starting price of your selection ends up being higher than the price you took, the bookie will pay you out at the higher odds.

With Golden Parachute, you are taught how to use different BOG bookmakers to bet on all horses in a race so that if odds one of the selections drifts and wins, it bags a profit. Normally there are more than 10 races with the eligible criteria available each day.

Mike recommends this winning strategy when it’s a slow week and there isn’t much else going on.

5. Dutching Bounty

Dutching Bounty extends Each Way Sniper. The system works by generating a profit when bookies pay more for a horse to place than the win-odds imply they should.

With this method, instead of backing & laying (like in EWS), you Dutch all of the horses EW at different bookmakers using the Dutching calculator.

The target is to have a break-even worst case scenario when the favourite wins. Then if an outsider wins you will secure a large profit — usually in excess of ￡100. If any of the other horses win you’ll make roughly 30%-50% of the maximum profit.

6. Acca Booster

Acca Booster teaches seasoned matched bettors how to profit from boosted accumulator bets — which mainly occur during weekend football. These are value bets; where the boosted back odds are higher than the lay odds on the exchange.

Mike states that you’ll need to persevere with this method for results to average themselves out. Thus, the Acca Booster requires a bigger bankroll, patience, and risk tolerance.

7. Betfair Sniper

Betfair Sniper is a detailed PDF explainer containing information on several entry-level Betfair strategies for horse racing.

The principles of Betfair Sniper are logical and — given how useful other Mike Cruickshank products are — could well be valuable. However, it is one of the products within Betting Mastermind that I cannot entirely vouch for. That’s because there’s no mathematical edge that can be specifically quantified when no two traders would yield the same results. It requires practice, discipline, refinement, and the ability to spot the correct market conditions to succeed.

I view Betfair Sniper as a helpful starting point for traders looking for hints on where to find value on the exchange. But there’s no guarantees.

8. Betfair 1% Club

The Betfair 1% club is another PDF explainer that teaches bettors how to apply effective scalping techniques prior to kick off, in order to lock in a profit no matter which team wins.

Ultra-efficient match odds markets in the world’s largest football leagues — such as the Premier League, La Liga, Series A, Bundesliga & Champions League — are required for the best results.

9. Betfair Renegade

Betfair Renegade is system that calculates the ‘true odds’ of sports events. If Betfair currently offers better odds, it advises that you back at those odds. Again, this is value betting put into practice.

In my trial, the advised bets tended to be on less-popular football markets (e.g. correct score in lower or overseas league football).

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I must admit, If Betfair Renegade weren’t part of this particular package I’d remain highly sceptical of how accurate the ‘true odds’ are (given past experiences in pricing up markets). So I’m keen to explore Betfair Renegade further to verify its long term profitability.

Assuming there’s value to using this service, I suspect it comes from the fact the targeted markets are either not well formed (illiquid), so the prices are speculative. Or that these niche markets have far less smart money in general, even when they are seemingly well formed.

I’d treat Betfair Renegade as if it were a tipster service: proceed cautiously, but with an open mind.

Verdict

Even if you do not come to use each and every component of the Betting Mastermind package, there’s ample value to be gained from using just a few of them. Take Profit Maximiser and Each Way Sniper — both included into the package — as an example.

Along with the huge list of additional resources and tools, there’s absolutely no doubt that Betting Mastermind is worth its fee.

The Betting Mastermind package costs ￡216 (one-off cost), or 4 x ￡58.80. With the?exception of a yearly ￡40 admin fee, all other costs are waived for life.

For ￡216 + a yearly ￡40 admin fee thereafter, Betting Mastermind is a serious prospect for any aspiring professional bettor.

Are Mike’s Products Worth The Investment?

Mike’s Cruickshank products are an example of substance over style.

You could easily be put off by all the sales spiel, overwhelming array of tools, slightly confusing user interface and general lack of… shininess. But once you get to grips with this slightly disjointed — but highly valuable — medley of products, you’re only going to reap the rewards.

Pros

• Solid reputation in the matched betting and advantage play community.
• Includes an array of tools and resources that succeed in setting amateur and intermediate bettors onto a professional path.
• All methods are rooted in mathematical foundations. There’s no ‘hit & hope’ strategies involved.
• Several little-known techniques are taught. This vastly increases the likelihood of identifying a sports betting ‘niche’ without too much competition or unwanted attention from bookies.
• Well known for offering helpful advice via email support, or via an exclusive (and active) Facebook group of other subscribers.
• Extremely good value for money. Any half-dedicated member will comfortably make back the subscription fees, and earn a substantial profit.
• Moneyback guarantee. If you’re unhappy with your purchase, you’re fully entitled to a refund via ClickBank.

Cons

• Various different systems have been merged together — particularly in Betting Mastermind — making it a little bit confusing and awkward for beginners to navigate around.
• Some additional specialist products (e.g. arb and value bet finders for all sports) would be required to fully expand a professional sports betting operation.
• Videos, materials and the user interface are less polished than other (admittedly more expensive) services.

Very few sports betting products deliver on their promises.?Mike Cruickshank’s products do, and at any extremely low cost. That’s a far cry from the vast majority of other flawed, na?ve, expensive sports betting services you could just as easily fall victim to.

Without a doubt, his products are worth the investment. Especially Betting Mastermind and Profit Maximiser.

The post Betting Mastermind Review – Profit Maximiser, Each Way Sniper & More appeared first on Punter2Pro.

The aim is to “bag” as much of the bonus amount as possible by meeting the minimum playthrough requirements set by the Casino. An optimal strategy must be played on eligible games without breaching notoriously strict bonus terms & conditions.

Matched Betting is a risk-free form of Bonus Bagging for sports betting promotions. But to extract value from a Casino bonus calculated risks must be taken.

Do the rewards of Bonus Bagging make the risks worthwhile?

Casino Bonuses: An Overview

Casino bonuses are promotional offers that encourage players to sign up and deposit.

The Decline In Casino Bonuses

The earliest online Casinos offered extremely generous bonuses. They were so easy to exploit that players didn’t need to apply any form of advanced strategy for it to be profitable.

But after years of “abuse” from advantage players (who took no real interest outside of the bonuses offered), Casinos tightened up the terms of their promotions. Nowadays most bonuses offer little or no value to players — unless optimal playthrough strategies are used.

Strict Bonus Terms & Conditions

The biggest problem with modern Casino bonuses are their strict, complex terms & conditions. It’s the cause of countless disputes.

The terms & conditions of a promotion dictates elements such as:

• Which Casino games you’re allowed to play
• How much money needs to be wagered before a withdrawal is allowed
• The weighting each games counts towards the wagering requirement
• The maximum stake you’re allowed to place in one bet
• The order of the games you play

There’s usually other highly ambiguous terms, which state that the Casino is allowed to identify bonus abuse “at their discretion”. These terms don’t always stand up in disputes, but they’re still a hindrance.

Furthermore, the Casino software itself doesn’t stop players from making ‘mistakes’. It doesn’t enforce the bonus restrictions. It’s down to the player to check their every move against the terms & conditions.

I fail to see how any genuine customer could enjoy playing under the restrictive Casino bonus schemes currently on offer. An average gambler flits between their favourites games without giving it much thought. Yet it’s those same (genuine) players who stand to be punished by the strict T&C’s.

I can only assume that, despite the complications and disputes bonuses create, they also help to generate a lot of profitable player acquisitions for online Casinos.

Withdrawals

Players that manage to complete the wagering requirement without breaching any terms (or busting out) will be able to withdraw their funds.

Each bonus type is dealt with differently upon withdrawal. Here’s the three main types:

• Non Withdrawable. The bonus value is subtracted from your withdrawal, and removed from your account. Only winnings from your bonus remain.
• Withdrawable. The bonus is included in the cashout. This is more profitable, of course.
• Sticky.?The bonus amount is non-withdrawable, but it remains in your betting account. You may be to produce additional withdrawable winnings using the bonus (until you inevitably bust it out).

Withdrawals are often a substantial size when Bonus Bagging. This is due to the betting strategies used.

Example Bonus Terms & Conditions

The way you play your Bonus Bagging strategy is determined by the wagering requirements, and various other terms & conditions attached to the bonus. Here’s a typical example of a Casino promotion you would find online:

After your first deposit, the total account balance would be $400.

I’ve picked out and summarised the main terms & conditions that might apply to a typical bonus like this. It takes some work to dig through the fine print, but it’s absolutely necessary.

Basic Terms

• Bonus eligibility: 7 days from the date the new account was opened
• Minimum deposit: $10
• Wagering requirement: 50x bonus
• Games which don’t count towards the wagering requirement:?Roulette, Sic Bo, Craps, Baccarat, Table Poker, Casino War & Red Dog
• Games which do count towards the wagering requirement:
  • 100% All Slots, Keno & Scratch Card games
  • 8% All table pokers, all roulettes, all video/power Pokers, all blackjacks (excluding Classic Blackjack), and Casino War
  • 2% Classic Blackjacks, All Aces video pokers, all Jacks or Better video pokers
  • 0% all baccarats, all craps, Red Dog, Sic Bo, bets using the gamble feature & wagers placed using the gamble feature.
• Time limit to complete wagering: 2 months

Ambiguous Terms

• Playing on any 0% games may void winnings, at the Casino’s discretion.
• Before any withdrawals are processed, your play will be reviewed for any irregular playing patterns[…]
• Other examples of irregular game play include but are not limited to, placing single bets equal to or in excess of 30% or more of the value of the bonus credited to your account […]
• The Casino reserves the right to decide in its sole discretion which activities constitute “irregular play” and to withhold any withdrawals where irregular play has occurred to meet playthrough Requirements.
• In the event that the Casino believes you are abusing or attempting to abuse a bonus or other promotion, or you are likely to benefit through abuse or lack of good faith from a gambling policy, the Casino may at its sole discretion, deny, withhold or withdraw from you any bonus or promotion, or rescind any policy either temporarily or permanently, or terminate your access to the Services and/or block your account.

Ambiguous terms are the root of many player/casino disputes. I don’t think they should be allowed by the gambling regulators. Yet even the most reputable Casinos include terms like these as standard.

Bonus Bagging Services

A Bonus Hunter has to somehow get through Casino promotions without being accused of breaching any of the tricky terms and conditions.

The only route I’d recommend is using a reputable Matched Betting Service. They hand pick the “safest” Casino bonuses, analyse the terms & conditions, and detail the exact strategy to use.

I can also recommend EV Maximiser, a specialist Bonus Bagging course put together by Mike Cruickshank. Check out my Betting Mastermind review to learn more.

These services will save you time and effort. They also have helpful staff and large member communities that’ll give you pointers along the way — which reduces your chance of making mistakes or miscalculations.

The “Two Tier” Strategy

For any Casino bonus to be worth taking it needs to have a positive expected value (known as “+EV”). Most Casino promotions are not +EV unless they are played through using a “two-tier” staking strategy.

By two-tiering a Casino bonus advantage players will bust out of their balance, losing their entire deposit and bonus, the majority of the time. But, mathematically at least, successful attempts will outweigh losses in the long-run.

Needless to say: Bonus Bagging requires risk tolerance. It’s not a risk-free strategy like sports arbitrage. It’s more like value betting which, with the right strategy, is plus EV — but variance impacts the actual results.

Note: not all Casino promotions require a two tier strategy. Each bonus has to be assessed on an individual basis.

Selecting the Right Games

Before two-tiering, you need to decide what games to play. Your game choices depend on the house edge of the eligible games. You have to work out what’s most economical.

The 50x bonus wagering requirement from the example bonus can, theoretically, be completed using the Slots, Keno and Scratchcard games — which all count 100% towards the wagering requirement. This means that on a $200 bonus, a total of $10,000 must be rolled over for the player to become eligible for a withdrawal.

The alternative is to use another category — such as ‘table games’, which features games with a much lower house edge (e.g. Blackjack, or French Roulette). The trade-off is that the wagering requirement is enormous, as these games only count 8%. Players need to rollover $125,000 to make a withdrawal using only table games.

There’s a simplified way of calculating the best games to play: multiply a game’s house edge by the wagering requirement. This gives an approximate expected loss after wagering through the bonus.

Let’s compare two popular options: slots and table games.

Slots vs Table Games

• Slots have very high house edge (~2-15%). This means the expected loss during the rollover will be high — but it counts for 100%.
• Table games have a low house edge (~0.5%). This means the expected loss during the roller is relatively low — but it counts for 8% only.

Suppose a Blackjack table game has a house edge of 0.5%, and a Slot game has a house edge of 5%. Here’s the comparison:

• Slots: 5% x $10,000 (WR) = -$500 expected loss
• Blackjack: 0.5% x $125,000 (WR) = -$625 expected loss

So, despite the higher house edge, the slots game has the lower expected loss thanks to the (much lower) $10,000 wagering requirement. Therefore this is the better option of the two, mathematically speaking.

Similar comparisons can be made between any eligible Casino games. Every Casino game needs to be assessed independently. Not all Slots, or types of Blackjack (for example) have the same house edge on every Casino platform. Game rules vary, too.

Learn more about Casino house edges from The Wizard of Odds?and The Pogg (great for info on slots).

Two Tiering Example

By now you’ve probably realised that the expected loss of the example bonus is very high.

However, applying the two-tier betting strategy improves the situation. Here’s how it’s done.

1. Set A Target Balance

The advantage player needs to place high variance (large) bets to quickly reach a target balance, before switching to (lower) normal variance bets to complete the remaining wagering requirement. The higher the target, the more EV is “bagged” from the bonus.

For instance, the player could set a 4x (deposit + bonus) target — which is neither too high that it rarely ever comes off, or too low that it offers no value.

The simplest way to reach that 4x target is to place the entire balance ($400) on a game with a 25% chance of winning (which pays 4x). For example, covering 1/4 of the numbers on an eligible Roulette table. However, some T&C’s will not allow for this, and the bettor would need to place a series of large, high-variance bets on eligible games to hit their target, or bust out.

2. Target or Bust?

Assuming the $400 bet on Roulette is allowed, and the player decides to wager through the requirement using slots once the 4x target is reached, there’s two scenarios:

1. Bust out: -$400 (-$200 of their own money). Game over.
2. Reached the 4x target: $1,600 (+$800 of their own)
   • After wagering on slots: $1,600 (balance) – $500 (expected loss) – $200 (deposit)= +$900

Therefore the advantage player either loses $200 of their own deposit, OR wagers through the bonus with an expected profit of $900 ($1,100 total balance) to withdraw.

So is this bonus really +EV?

If the bonus enables players to raise their balance in a series of large bets, then yes. Here’s the expected results if you were to claim this same bonus four times, using the same strategy:

-$200 LOSS
-$200 LOSS
-$200 LOSS
+$900 PROFIT

This equates to approximately: (-$200 -$200 -$200 +$900) / 4 = $75 expected value (EV).

In extreme cases you could win all four, or lose all four. Variance is all part of the game.

With a lower target balance, the EV goes down, as does the chance of busting out. But be warned: for many of today’s Casino promotions a low 2x target isn’t enough to make the promotion +EV. So substantial risks must be taken.

Points to Consider

1. Some bonus terms will not permit you to bet your whole balance in one hit. For illustrative purposes, I chose to simplify the two-tiering example. In practice, a smaller series of bets on high-variance games (using slots, for example) may be required to hit the target balance.
2. The higher your target, the higher the EV. But the more chance there is of busting out. Your bankroll needs to be large enough to cope with consecutive losses.
3. While meeting your target balance, you’ll notch off some of the wagering requirement. That’s a positive thing, which I did not factor into my (simplified) calculations.
4. While you try to reach the target balance, you’re betting against the house edge (which I also did not factor into the example). This slightly cuts into the profit. Hence why you want to bust, or hit the target, in as few bets as possible.
5. Many Casinos stipulate that you cannot drop your average bet size by a certain percentage (e.g. 30%). So you won’t always be able to reduce the variance to within your comfort zone.

And if you do successfully reach your target balance and complete the wagering requirements, you’re not out of the woods yet…

Post-Wagering Issues

Remember those ambiguous terms I highlighted earlier?

Well, Casinos tend to save those terms for players that successfully use the two-tiering strategy to wager through a bonus and request a withdrawal.

There’s a vast amount of disputes which arise from players being accused of using “betting patterns”.?Many Casinos (particularly those outside of the UK), do their utmost to avoid paying customers at the best of times. Problems are extrapolated when a bonus is involved.

Delaying tactics, unreasonable identification requests, unfair accusations, and account locks/closures are commonplace. Many players are forced to take legal action.

Is Bonus Bagging Worth The Hassle?

There are pros and cons to Bonus Bagging. Here’s my honest take on it.

Positives

Bonus Bagging is profitable, albeit with potential grief.

It’s mathematically sound. Plus there’s also more than one type of Casino bonus; some are a little more generous than the one featured in my example.

I’m also aware that there’s pro gamblers that have found other, more imaginative (usually higher variance) ways to circumvent strict Casino bonus wagering systems and avoid withdrawal issues.

Negatives

Bonus Bagging is burdened by obstacles. Casinos evidently do their utmost to deter players that only seek to earn a profit by claiming their bonuses.

The process is time consuming, tedious, and risky; one failed withdrawal could wipe out a lot of winnings.

My Opinion

I’d focus on Matched Betting and keep away from online Casinos; Sportsbooks aren’t anywhere near as defensive. This is largely because they manage their risk by adjusting their prices, balancing their books, and maintaining a market overround.

Perhaps venture into the simplest entry-level Casino bonuses (e.g. free spins). Beyond that — proceed with caution.

There’s certainly easier, less risky, and more fulfilling ways to earn from betting?than Casino Bonus Bagging.

Originally posted on 19th December 2016.

The post Casino Bonus Bagging – Does It Work? Is It Worth The Risk? appeared first on Punter2Pro.