Almost all online casinos offer bonuses to their players. Online casino gambling has become more popular. More and more online casinos are being launched all the time. There is much competition between these online casinos. They use bonuses as a way to attract new customers and to keep their existing customers. Many of these bonuses can look attractive, but always keep in mind that there are conditions attached to them. You must do your math before you accept any online casino bonus offer to make sure that it suits you.
Wagering requirements are the limitations and conditions that are placed on the casino bonus by the online casino. These wagering requirements will stipulate the amount. That each game counts towards fulfilling the bonus conditions. They will stipulate how much you need to wager. Before you are able to withdraw your winnings and they will stipulate the type of bonus. That you are accepting whether the bonus amount can be withdrawn or not. Until you fulfill the wagering requirements for the bonus, you will not be able to make a withdrawal. The wagering requirements differ between casinos and between bonuses. So you must make sure to read them carefully and do the maths before you accept the bonus.
Types of Casino Bonuses
There are many types of casino bonuses that exist. Some online casinos may offer a large variety of bonus types. While others may offer a limited selection. Some of the bonuses that you may come across include no deposit bonuses, welcome bonuses, reload bonuses. Refer-a-friend bonuses, alternative payment method bonuses, VIP bonuses, and high roller bonuses. We will need to look at the mathematics of the bonuses to work out if they are, in fact, profitable for the player.
Welcome bonuses are the most common form of bonus. They are awarded to the player when they make their first deposit at the casino. These bonuses are a percentage of the deposit amount up to a set amount. For example, it is common to be awarded a 100% match deposit bonus up to $100. For a bonus such as this, the wagering requirements may set a 30 x playthrough condition. This means that you will have to bet 30 x $100 = $3,000 before you can withdraw any of your winnings.
When to Accept a Casino Bonus
Whether to accept a casino bonus is subjective. It really depends on what you want to play at the casino and how you plan to play. If you plan to only play for a short amount of time at the casino. You will be unlikely to wager the required amount to be able to withdraw your winnings. The same goes if you have a very small bankroll. Besides, the casinos generally limit the games that you can play to fulfill the wagering requirements. Roulette is often not accepted so if that is your game of choice, the casino bonus will not be useful to you. So, if you plan to play at the casino for a long period of time, then the casino bonus may be very useful to you. Casino bonuses, when used to their best can be seen. As free money that you can use to play at the casino and can boost your bankroll.
Let’s Look At The Game Of Slots With An Average 95% Payout.
If you play with the $100 bonus, you will find that you will only be able to make $2,000 worth of stakes. Before you have used up your bonus – $100/(1-0.95) = $2,000.
Looking at it from another point of view, if you make the required $3,000 worth of stakes. You will find that you are actually $150 behind – $3,000*(1-0.95) = $150. In other words, not only will you have lost the full bonus amount, but you will have lost a further $50 from your pocket.
In this case, it would not be profitable to accept the bonus. These equations should be done for each bonus that you are offered by an online casino. So that you can be sure that you are making an educated decision on whether to accept the bonus.
Types of Casino Bonuses
There are different types of casino bonuses and these determine the amount of the bonus that it is possible to withdraw. A casino bonus type that is growing in popularity at the casino is the sticky bonus. An uncommon variation of bonuses is the cash back bonus. Here we will look at each type of bonus.
Sticky bonuses are also known as phantom bonuses. The bonus amount cannot be withdrawn. It remains “stuck” in the account until it is lost or annulled. With the first withdrawal when it disappears like a phantom. If you play these bonuses hard, you will have a chance to come out ahead.
A brief look at the mathematics of the sticky bonus tells us that you have a 50% probability of winning. It is recommended for you to set the amount you wish to win. For example, if you deposit $100 and receive $100 in sticky bonus. Then you want to increase your casino account up to $200, the probability of success is ($100+$100)/$400 = 50%. The real value of the casino bonus to you would be (100+100)/400*(400-100)-100 = $50. This math is for casino games with zero math expectancy. In real casino games, the results would be less favorable.
Cash Back Bonuses
A cash back bonus is a return of your losses and is commonly a partial return over a fixed period of time, let’s say 20% over a week. In other words, the cash back bonus is a return on losing that is paid to you by the online casino. This means that if you lose $50, with a partial return of 20%, you will get back $10 or actually only lose $40. This then increases the math expectancy up to 0.4%.
Sticky Casino Bonuses
Online casinos offer bonuses as a way to set themselves apart from each other. These are used as ways to attract new customers to the casino and to keep existing customers from leaving the casino. Casinos were once much freer with their bonus offers than they are today. Casino bonus hunting is the practice of searching for the best casino bonuses. That maximizing your winnings from the bonuses alone. As casino bonus hunting grew in popularity, online casinos began to take note. Then started to find ways to make bonus hunting less attractive. By making it more difficult to cash out bonus money through low-risk gambling at the casino. One of the ways that they did this was by creating the concept of the sticky bonus.
What are Sticky Casino Bonuses?
Sticky casino bonuses are otherwise known as phantom bonuses. Officially, these bonuses are called non-cashable bonuses by the casino. Or are described as “for wagering purposes only.” These bonuses cannot be withdrawn from the players’ accounts. The bonus amount is stuck in the account until it lost completely. Or until the players make a withdrawal and the bonus lost – disappears like a phantom. In the first type of sticky bonus, the bonus amount will remain stuck in your account. But you can continue to use it to place bets until the amount is lost or until it reaches its pre-set end date. In the other type of sticky bonus, once you make your first withdrawal from your account. The bonus amount will disappear. It is as if you hold two different accounts – a casino bonus account and a deposit account. While you can’t cash out the bonus amount itself, you can use it to win money that can be cashed out.
The Advantages of Sticky Casino Bonuses
At first glance it may seem that there are few advantages to a sticky casino bonus. A bonus that cannot be withdrawn, but that is not the case. A stick casino bonus is usually larger than a non-sticky bonus. While it may be common to find 100% match deposit bonuses for non-sticky bonuses. It is not difficult to find 300% or more in sticky casino bonuses. Another advantage lies in the wagering requirements for the bonus. A non-sticky casino bonus may have a wagering rule of 20 or 30 the bonus amount times before your winnings can be withdrawn. While the sticky bonus may have a wagering rule of as low as four times. You may also find that unlike the non-sticky bonus bonuses, you can fulfill your wagering requirements on any game at the casino. This means that you are not limited to certain games and do not have to keep track of what you are playing on. Another advantage comes when you have completed the wagering requirements for the bonus. If you lose and you were playing with a sticky casino bonus, the bonus amount remains in your account. This money can continue to be used to place bets which gives you a chance to get out of your loss.
The Risk of Sticky Casino Bonuses
As sticky casino bonuses generally offer much higher percentage bonuses. You may be tempted to deposit a much larger sum into your casino account to take advantage of the high percentage. The flip side of having the chance to win large amounts of money is the risk of losing large amounts of money.
For a player who plays conservatively and bets small amounts of money over long periods of time. The sticky bonus is risky. Because of the negative mathematical expectations in any casino game. If you play slowly, you will only lose slowly, but you will lose in the long term.
How to Play a Sticky Casino Bonus
In order to maximize your profits from a sticky casino bonus, you need to play the casino games aggressively. This can translate to an all-or-nothing approach to gambling. If you have a $100 bonus and $100 of your deposit you are playing with $200. If you bet the entire amount on the chance you will have a 49% probability of winning $200. A 51% probability of losing $200 ($100 bonus and $100 deposit). The stake has a positive mathematical expectation for you – ($200*0.49)-($200*0.51)=$47
If you find that you are winning early on, you can always cut down your bets. Fulfill the rest of the wagering requirements through small bets to protect your winnings.