CASINO

what is EV

If you are new to casino offers, having wisely never gambled on slot machines, read ‘Casino Terminology’ first

Estimated Value (EV)

This is the most crucial statistic in determining whether or not to attempt an offer. If the estimated value is above £0.00, then you have the mathematical advantage over them. We can calculate the EV of an offer by multiplying the total amount of wagering needed by the house edge, then subtracting this figure from the value of the bonus. Confused? Let’s look at two examples, one of a +EV offer and one with -EV, using a typical 95% RTP slot machine (which means it has a 5% house edge)

+EV Offer

Offer: Bet £10 Get a £10 Bonus

Details: After you have staked £10, a £10 bonus is added to your account.

Wagering: Bonus x10

Total Wagering Required: £110 (Your original £10, plus the value of the bonus x10)

House Edge: 5% (as a decimal: 0.05)

Sums:

Total Wagering x House Edge: £110 x 0.05 = £5.50

The total house edge on the £110 is therefore worth £5.50. As you have a £10 bonus, this gives you an EV of £4.50.

£10 – £5.5 = £4.50

If you do on offer like this at every opportunity, you will make a surprising amount of money over the course of a year, even if you do do start by losing your £10 a few times.

-EV offer

Offer: Bet £250 Get £10 Cash

Details: After you have staked £250, a £10 bonus is added to your account.

Wagering: None

Total Wagering Required: £250

House Edge: 5% (as a decimal: 0.05)

Sums:

Total Wagering x House Edge: £250 x 0.05 = £12.50

The total house edge on the £250 is therefore worth £12.50. As you have a £10 bonus, this gives you an EV of -£2.50.

£10.00 – £12.50 = -£2.50

If you regularly attempt offers like this, say goodbye to your savings, your house and any holiday plans you had.

Chapters six and seven go into more detail with specific examples of a range of sports and casino offers, but let’s not be too impatient. Let’s get organised and start as we mean to go on, taking steps to limit account closures and avoiding silly mistakes that can cost you money.

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