For a fact, there are a plethora of available offers in the myriad of web-based gaming platforms, which all claim to be quite lucrative to players. However, a copiousness of players can fess up to the fact more often than not, these bonuses and promotions exude immense confusion, unwarranted stress, and miscommunication. The primary reason for this is that most gamblers do not take the time to understand what is at play with these bonuses, fully. For instance, all bonuses have certain betting requirements which they must meet before making any cash outs. With that in mind, in this guide, we will discuss the detailed process of computing the actual worth of these bonuses.
Play Through and Betting Requirements
As mentioned earlier, all casino offers come with wagering requirements which a myriad of gamblers tends to dismiss. For instance, all promotions have a shelf life and hence, all free offers expire. As such, we will give some practical examples of how these requirements come into play.
Example: A casino may require you to wager 20 times (varying in different gaming platforms) your deposit before accessing your deposit. With that in mind, if you make a down payment of $100 to the gaming site and instantly receive an additional $100 (100% match), that gives you a total of $200 to relish in the games and try your luck. However, here comes the catch: you must gamble at least 20 times of the $200 which is $4000 before you can access it.
In other instances, the platform may require you to bet with your bonus a given number of times. Hence, upon making a payment of $100 and receiving an instant 100% match ($200), you require gambling with the extra $100 a total of 20 times, which automatically means that your stake levels must amount to $2000 before you can make any withdrawals.
Secondly, you must have complete knowledge and certainty on which games you can relish in with the deposit promotions, and those that you cannot. As seen in most cases, casinos exclude certain categories of games from the bonus. For example, if you have made a total of $50 on roulette bets, your overall play through is still at zero, and thus, you cannot make any cash outs. In other gaming sites, you may find that they may permit you to partake in the games such as roulette via a promotion, but with a greater play through requirement. Nevertheless, it all boils down to pure mathematics, which upon understanding, you will see that most casinos are quite similar to each other.
Keep Scams in Mind
As you know, the number of Internet scams is skyrocketing by the day. Therefore, before diving in head first to the first deal that catches your eye, you ought to be on high alert. In the industry of Internet gaming, there is no legally binding contract, and thus, a plethora of sites tend to defraud their clients of their hard earned money. It is for this reason that you ought to conduct your due diligence by doing mathematical computations to verify that the promotions they offer are legit and not cooked up figures.
Cashable and Non-Cashable Bonuses
Upon the fulfillment of the wagering requirements as mentioned above, it is vital to evaluate whether the promotion is cashable or non-cashable. For starters, a cashable promotion is a better choice because, irrespective of the wagering conditions, players can withdraw both their earnings in addition to the bonus amount. Take an example of a $200 deposit with a 200% match, which automatically translates to $400 for relishing in the slots and trying your luck. With this $400 during gameplay, if you luck is on your side and score $300, this means that you withdraw a total of $700.
In non-cashable offers, the extra gambling money which a casino offers you for partaking in the games remains with them upon achieving some earnings. Hence, the profits which players withdraw are exclusive of their wagering bonus and initial deposit.
Keeping that at the back of your mind, here are some of the vitals factors which you must take into consideration before the determining the real value of a deposit promotion.
- Games with a Lower House Edge – Upon finding a gaming website which offers cashable offers as discussed earlier, it is essential to do an evaluation of the site’s specifications. For example, the game you choose to try your luck with the bonus should factor in those that have a lower house edge. Some of these games run the gamut from Blackjack, Baccarat, Roulette and Video Poker, among others. While losing may not be a myth in this coterie of games, but you ought to take into consideration, the exact amount of money you may lose before receiving your cash offer.
- Using a formula – It is indeed a more straightforward way of determining the real worth of an awarded offer. All you need to do is firstly take the total lump sum required for clearing the offer as well as the total bonus. Secondly, divide the total amount by the outstanding promotion and multiply the outcome by 100%. Thirdly, if the percentage is high, then the value you are receiving is indeed greater on the deposit offer. As such, any value which is greater than 25% is worth the risk, whereas 10% and below is too low to make any financial commitments.
- Extra re-bets – A coterie of software providers may offer occasional re-bets to their loyal and consistent clientele. As such, if you make a down payment of $200 weekly for example, then the casino operator may decide to offer you a re-bet on 4 losses incurred in the week. Furthermore, the operator may decide to knock off the wagering requirements for the next one month, alongside other lucrative benefits.
- Estimated Rewards – For a fact, you can never be certain of the amount, because you do not have any psychic abilities. For example, if a gaming platform is offering you a $10 no deposit bonus, then automatically your chances of walking away with a $500 win is quite slim. Nevertheless, a cornucopia of gaming platforms put the wagering requirements as discussed earlier, to prevent their users from walking away with easy money.
- Contributing Percentage – It refers to the amount that each game contributes towards the overall betting conditions. It is quite similar to a multiplier. For instance, if the betting on an individual game only makes up 50%, this means that you ought to gamble double of that. For slot participants, the contributing percentage is at 100% which in turn means that the wagering conditions remain at the fundamental level.
Note: Expected loss = ((Deposit + Bonus) x Betting Condition x (100 / Game %)) x House edge
Overall, calculating the real value of a deposit bonus may seem like a tedious task, but the additional effort indeed goes a long way in yielding absolute returns. It is quite essential to have a full comprehension of a casino’s terms and conditions before jumping in, to register with it. Lastly, you should avoid partaking in any deal just because it comes with an attached promotion that catches your eye. Instead, you ought to practice patience in the evaluation of arrangement’s legitimacy.
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