Casino EV Calculator
Check whether a casino offer is positive EV before you put any money into it.
What this does: Enter the qualifying wager, slot RTP and reward. The calculator subtracts the expected cost of qualifying from the expected value of your free spins or bonus chips.
Example: Wager £10 on a 96% RTP slot, get 10 × £0.10 free spins on a 94% RTP slot, winnings straight to cash.
Bonus chips work differently. The chip is never returned, only the winnings are paid, so what a chip is worth depends entirely on which bet you put it on.
How to calculate casino offer EV
Expected value, or EV, is the average profit or loss you would expect if you could repeat the same offer many times. For a simple wager-and-get offer, the calculation is the expected reward value minus the expected loss on the qualifying wager.
A £10 qualifying wager on a 96% RTP slot has an expected cost of 40p. Ten 10p free spins on a 94% RTP slot have an expected value of 94p. The offer therefore has an EV of 54p.
What the result means
A positive result means the offer is profitable on average. It does not promise that profit on one attempt. Slots vary, so an individual result can land well above or below the figure even when the maths is sound.
If the result is negative, the promotion costs more to unlock than the reward is expected to return. A large headline bonus cannot rescue poor terms. The calculator is less impressed by marketing departments than marketing departments would prefer.
Use it alongside the current low-risk casino offers when you want to check the figures yourself before starting an offer.
Free spins and bonus chips are not face value
Free spins are worth their total stake multiplied by the RTP of the slot used for the reward. Bonus chips depend on how they settle and where you place them. A stake-not-returned chip on a single roulette number retains far more value than the same chip on red or black.
Related calculators
Use the wagering requirements calculator when a bonus must be played through several times. Use the advanced EV calculator for deposit matches, maximum-win caps and more complicated terms. The slot RTP database helps you find the published RTP used in the calculation.
Casino EV calculator questions
How do I calculate casino bonus EV?
Subtract the expected cost of the qualifying wager from the expected value of the reward. For free spins, that means the number of spins multiplied by their stake and the slot RTP, less the expected loss on the qualifying wager.
What is a good EV for a casino offer?
Positive EV is the starting point. Whether an offer is useful also depends on the deposit required, the time it takes and how much variance you are taking on for the expected return.
Is expected value guaranteed profit?
No. EV is a long-run average across repeated offers. One set of free spins can return nothing or considerably more than expected.