Do casinos really make any money from bonuses?
The use of bonuses in online casinos has become popular today. Casino operators use different types of bonus offers like sign up bonus, reload, match up bonus, and etc to persuade players to use their platform instead of their rivals’. What is more amazing is that players can convert these free offers into real cash money.
But are these bonuses really free as portrayed by the operators? In order to access bonuses like the sign-up bonus, casino operators will require you to deposit real money into your account. This is why before you rush for a bonus offer, you must understand the terms and conditions accompanying it.
How to Make Money from Casino Bonuses
As aforementioned, there are numerous online casino bonuses available today ranging from welcome to match up. Nevertheless, you need to consider a number of things when you are looking to exploit these freebies.
In most cases, you will be required to part with some of your real money before you are allowed to withdraw the money won from the bonus offer. For instance, a $100 welcome bonus with a wagering requirement of 30X the bonus.
You may also come across a casino where some games have been excluded from the counting towards the bonus wagering. For example, games like blackjack, Baccarat, and Roulette wagering requirements are determined by the casino operator but the general percentage contribution is normally 50%. The general contributing percentage for online slots is always 100%.
The house of a game is the percentage of all bets taken that the casino operator expects to keep in the end. Therefore, if a game has a house of 3%, the casino will make 3% profit. Players usually opt for games with the lowest house to enable them to stand a high chance of earning profit from a bonus offer. It is important to understand from the start that all games have a house edge ranging from less 1% in some games to 50%.
There are lots of factors you need to put into consideration when looking for ways to earn money from online casino bonuses. This is because not all casinos use the same policies in regard to bonuses. We understand how challenging it is to read through all the terms and conditions, but you need to be certain that you stand a high chance of earning a profit percentage in the long run.
How to Calculate the Cost of a Bonus
The main reason why casino operators include wagering requirements, contributing percentage, and house edge in their bonus offers is to ensure that your betting is at a level where your possible loss is more than the bonus amount. Now, let us take a look at how to calculate your expected bonus in roulette and blackjack.
Roulette is a popular game with a simple gameplay. Normally, there are 36 pockets marked with red and green colors excluding the zero. There is an equal chance that the ball will settle in any of the pockets 0 to 36. Thus, if you place a bet on green and it comes up, you win. There are 18 out of 37 chances of green color coming up, which means that your chance of winning is at 48.6% and your chance of losing is 51.4%. With a house edge of 2.8%, you expect to make a more long-term profit than short-term ones.
Blackjack is the casino game with the smallest house edge of around 0.5%. The only challenging part is that there are many different blackjack rules and the house edge is normally based on the set of rules in use. Let’s take an example of 100% match bonus of 50 and a wagering requirement of 30 times, and a house edge of 0.5%, your expected loss will be 150.
Which Casino Bonuses are Recommendable?
If you are looking for the best ways to build your bankroll using casino bonuses, we recommend you try out table and card games bonuses as well as slots bonuses. Of late, there are casino operators offering players with no wagering requirement on all games including the table and cards, keno, and sic bo. If the table and card games are not your cups of tea, we suggest you try out slot bonus which comes with 100% game contribution in all games.