We all love online casino bonuses. But do you understand how they work? Online casinos know what you want- free money, free spins, and free chips. But if they are trying to make money, why would they give it to you for free?
All bonuses are different, and you’d be wise to understand the math behind them. Sometimes, the biggest bonus is not necessarily the best.
For example, an operator may promise 200 percent on your first deposit. If you spend $100, you get $200. This looks like an attractive offer. However, looking at the wagering requirements could make it less attractive.
Bonus Percentage and Amount
When looking at online casino bonuses, one of the first things you’ll notice is the percentage or bonus amount for your deposit. It could be as little as $20 or as much as $20,000.
With no-deposit bonuses, the amount is small. It typically ranges from $10-$50. However, these are some of the best options. You get a freebie without investing any of your money. You only need to create an account, claim your bonus, and start playing.
First deposit bonuses are usually huge. Casinos use them to encourage you to start investing money into the casino. First deposit bonuses are typically expressed in percentage form. For example, a casino may offer 100 percent on a $100 deposit up to a certain amount.
House Edge and Return
You may not realize that an online casino’s bonus is related to its house edge. However, knowing the return percentage could help you determine the house edge. Take the return percentage of a game and subtract from 100 percent. That gives you the house advantage of the game.
Before taking advantage of the best casino bonuses, consider the games you hope to play. What are their payout rates? You should aim to find bonuses that work for high RTP games. Some casinos trick you by making the bonuses only applicable to low-RTP games.
For slots, the best games have at least 95 percent RTP. They include Starburst, Gonzo’s Quest, and Mega Moolah. For table games, the house edge should never go beyond five percent.
Blackjack has a low house edge. Its average is 1 percent. The house edge for poker ranges from 1 to 5 percent and for roulette typically has a house advantage of 2.7 percent.
Many players do not consider game weighting when considering casino bonuses. However, it is one of the most important metrics to determine how you will fulfill your wagering requirements.
Game weighting is the percentage of money you gamble that goes into fulfilling your wagering requirements. Video slots are the best options to fulfill wager requirements in most online casinos.
You can use slots to cover 100 percent of your wager terms. However, table games generally contribute 5 to 20 percent of the wager requirements. When you understand weighting requirements, you can pick games that quickly help you meet playthrough terms.
When casino games come with amazing bonuses, always check their wagering requirements. They are the biggest ways online casinos make money from bonuses. You have to meet certain conditions before withdrawing winnings from your bonus.
You have to spend a specific amount at the casino before withdrawing any bonus-related profits. The house determines the exact number. Even though the casino will be giving you some money, they will also be making money from you.
Withdrawal Limits and Validity Time
Online casino withdrawal limits are the reason you may need to reject seemingly great bonuses. For example, they may give you a $100 first deposit bonus. However, the maximum withdrawal limit for this could be as low as $150. While the limit isn’t really low, it doesn’t match the bonus.
Validity is an important issue as well. It is the time within which you have to use your bonus and fulfill wager requirements. Usually, the validity period ranges from 24 hours to 30 days, regardless of the type of device you use.
Obviously, you should go with the most lenient validity time. It is pointless to have a fantastic bonus if you don’t have enough time to use it. If the period is too short, you could lose your profits.
Possible Profits from Your Online Casino Bonus
With the right information at hand, you can calculate possible profits from your online casino bonus. You can use a mathematical formula to determine the worth of a casino. With details like its RTP and wagering requirements, you can judge the worth of a casino bonus.
The formula involves multiplying the house edge with the amount you will be betting to clear the bonus. After that, you can subtract it from your bonus amount.
If you get a negative outcome, you are likely to lose the bonus amount long with some of your deposit. You would, therefore, be wise to avoid it. This applies to all types of deposit bonuses. The more you practice with it, the easier it gets.
How to Choose an Online Casino Bonus
Welcome bonuses are the most profitable kinds of bonuses. They introduce you to the gambling world and help you learn about new game options. In addition, you may get to enjoy your favorite games with investing your money.
Take the time to compare different welcome bonuses and settle for those that give you the most value. All welcome bonuses are different and may be appropriate for different types of players.
The wagering requirement is essential as well. It would be best if you didn’t have to wait too long before turning your bonus into real money. When advertising their generous bonuses, online casinos won’t tell you this.
You must read the fine print to get it. Do not rush past the terms and conditions. They are what really separate one online casino from another.
Note that you won’t simply make deposits, claim bonuses, or withdraw money immediately. Casinos want to encourage you to play for longer and spend more money. If you are smart, you can take advantage of profitable bonuses without running into losses. Consider the reliability of the casino as well.