Blackjack Bonus In dept article
To attract new players, most online casinos will offer bonus money with an initial deposit. For example, if you deposit $100 some places will match you 100% which gives you $100 extra so you’ll have $200 in your casino account to gamble with. To make it so that you don’t just deposit money then cash out and leave the casinos they add a wage requirement (WR). A WR is simply how many times the amount of the deposit and/or the bonus you have wager before you can withdraw. Lets say the casino asks for a 8x WR, if you deposited $100 and they gave you a $100 match bonus, you’d have to gamble $1600 before you can cash out your money.
So you have $200 and you have to gamble $1600, which sounds pretty worthless right? It is, unless you play blackjack or video poker. Because in this games and some other games the casino have a very small edge, and in theory you are going to make a profit. More about this later in the article.
Why does the casino allow this bonus abuse?
My guess is that the casinos are aware of that some players have the approach to play the casino for the bonuses, but that this group of players is very small, and that they in total earn money from the people they attract with their bonus offers. So bonus offers is more lucrative for the casinos then having no bonuses, and if a small group of players can exploit this that is a small price for them to pay.
How to play
Before you start to play for the bonuses you need to know how to play and this is really easy because the only thing you need is a chart, that tell you what you should do in different situations. There is a basic chart that you for example can find here. You can also find special chart for different casinos, that are altered for variations in rules that the casinos can have (depends on which software the casino uses). By using this charts the casinos often have an edge against the player under 1%. And it is here the opportunity for a profit comes in.
Expected Value
If you want to know how much you are expected to earn from a bonus you calculate its EV (expected value). For calculating this you need to know how big the edge the casino have against you, and for “normal” blackjack this edge is 0.36%. And the you need to know the wager requirements. And after that you can calculate your EV, by using this formula:
Bonus Value – (House edge*wager requirements).
So for example if you playing for a bonus where you need to deposit 100$ and you get a bonus of 100$, and the wq before you can cash out is 20x then you are expected to earn:
100$ - (0.0036*2000$) = 92.8$
So your expected earning on this is 92.8$ for a couple of hours of work tax free, I don’t think this is to bad.
The Risk
The expected value that we calculated above is what you should expect to earn in average, and by this I mean that because of variations in the game this is what you are going to earn over time, but for a single casino it can be totally off. I have played casinos where I have earned several hundred of dollars above the expected value (god times), but I have also lost both the deposit and the bonus at other casinos (bad times). And this type of variation is normal, and there is a simple rule for minimizing the variation and that is the smaller the bet size is the smaller you can expect the variations to be. The bet size I often use is 2$, because I think that it for me gives a god ratio between risk and time (bigger bets = less time to fulfill wq). When I started out playing casinos I deposited 200$ to my neteller account, and at this date my total earning from casino bonuses are 2200$ after about 20 played casinos. And the biggest down swing in variation I have had so far is about 400$. So you could start out with a small amount as 100$, but then there is a risk to go broke, but is you start with a descent amount of money and a small bet size the risk of going broke is small.
Warnings before you start:
1. Before you do any offer, carefully read the bonus terms and conditions for yourself. The first reason you need to do this is because offers can change. A match bonus that was good for someone last week can easily turn into a worthless offer the next week. Also there may be a bonus restriction on your country. For instance a lot of bonuses aren’t available (or require a very high WR) if you live in
2. Depending on the casino, you may need to verify your identification. This will require you to either fax or scan and email your drivers license, maybe a credit card front and back, or a utility bill. And if you don’t feel comfortable doing this then you need to check this up before you deposit any money.
3. Depending on the casino, your first cash out might take up to 2 weeks. Some places will mail you a check; others will send you a PIN number in the mail that you can use to cash out. Most places usually put a 1-3 day hold on the cash out in hopes that you’ll change your mind and gamble more.
Final Word
I think a covered the essential parts of the bonus whoring art, but if you feel that its something missing or if you are wondering about something give me a comment and going to see what I can do. This is a weird way of making money and people are often nervous about this kind of things but I hope that this article has put some light on the subject and that if chose to try it out a whish you luck, but as you know now luck has nothing to do with it. And hope in the near future publsih a article about payant methods and money managment, and then the subject should be pretty well coverd.
posted by Johan at
4:45 AM
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