Online casinos offer lots of lucrative bonuses to attract players to their site and play their games, but the problem is, beginners have a hard time trying to understand all the ins and outs of casino bonuses. And if they don’t understand it, they won’t know how to take full advantage of it. That’s where this article comes in. Beginners can find all the information they need to start “earning” those bonus cash.
First of all, you have to understand that over 2,000 online casinos are in operation right now, even as you read this article. With the online gambling industry earning an estimated $10-billion a year, it’s no surprise that they are all fighting to get a piece of the action. As you might expect, fierce competition erupts among the online caissons, all vying for players.
This is where the bonuses help the casinos. Players are offered sign-up bonuses as a promotional tool, to attract and keep customers. For example, a player’s initial deposit of $200 is matched by the casino, thus giving the player a total of $400. But before the player can withdraw that $400, they will be required to bet a certain amount first. Usually, this amount is equal to at least 10 times or even 30 times the amount of the initial bet, plus the bonus. Casinos call this the Wager Requirement or Playthrough Requirement. All bets, whether win or lose, shall count towards the WR of the player.
Let’s take on blackjack as an example. A lot of players don’t know that playing blackjack using an optimal strategy will provide a return of 99.5%. This means that for every $100 you wager, the average expected return will be $99.50, losing only 50 cents. How to get an optimal strategy for blackjack? Use a strategy card, which can tell the player what’s the best move to make in a given situation or hand in blackjack.
Let’s take this example further, shall we? Let’s say that an online casino offers a 100% sign up bonus on deposits up to $200. The Wager Requirement (WR) is 20 times the bonus amount only, denoted as 20xB. This means that players have to bet at least $4,000 total, win or lose, before they can withdraw their initial deposit and bonus. Now, if you’re playing an optimal strategy for blackjack, your expected return will be $3,980, giving you a loss of $20. But the casino gave you a bonus of $200, remember? Your average expected profit will then be $180!
A blackjack game for beginners would start out at $2 to $5 per hand. If you’re playing $4 per hand, the example stated above would take 1,000 hands of blackjack. A beginner playing blackjack on the Internet can reach up to 400 hands per hour. A beginner would then take around 2 to 3 hours to reach the Wager Requirement. The expected profit of $180 would then translate to over $70 per hour. Some casinos are even faster, allowing a player to reach up to 1,000 hands of blackjack per hour.
If you take this example and multiply it by the casino bonuses you find online, you will then begin to understand just how profitable this strategy can be.