A lot of online casinos often give new players bonuses for either signing up, logging in every day, and many other possible ways. The reason behind these bonuses is so they could catch the attention of new players and keep them hooked on the game. It’s a smart strategy if you think about it. You can sometimes even profit from these bonuses if you know the right way how. But, not all websites have the same regulations and policies. Usually, you’re not able to withdraw your benefits, you’re only allowed to wager them in games.
Although it’s not easy, it’s possible to make a healthy profit off of these additional compensations from your casino of choice just by playing their own game the smart way. We’ll show you some strategies and tips on how you could make those profits in pretty simple ways, although some mathematics and calculations are involved.
Free Spins
This is probably the best way to earn a healthy gain without depositing anything. It’s a great way to build up your bankroll and get a little advantage in gambling. Although, not all but some websites have offers such as limited free spins for each day you log in. This can come in handy when playing without wagering anything. These are great opportunities to make a healthy profit for yourself, without spending a single dollar. But, as mentioned, not everyone has this option, so you should be careful about wagering requirements because some sites can package those requirements in fine deals.
Expected value
Casino incentives are similar to matched betting, except that they are not as risk-free as matched betting is. You can use a method called EV or expected benefit, because of the way you can use or invest your incentive.
This isn’t really simple math, because you calculate your average profit from the benefits. The average will always vary, from low to high, but it all depends on how much you spend on how many plays.
Find websites with the best bonuses
Finding good offers is just as important as calculating good wins and managing your bankroll. There are a lot of sites out there and it’s hard to find good ones sometimes. However, in our experience, we found that efirbet reported has the best bonus offers.
Variance
Variance is a little different from matched betting as well, but in this case in the bankroll. For matched betting, in time the increase of your bankroll is constant and steady because it’s risk-free. However, with variance, this is different, because your bankroll is never steady. It’s constantly dropping and adding by every played game. That depends on your winnings and losses, but as you continue to play in time you better your chances of profiting higher.
This is basically how expected value works, except with variance you see your average amount for gain if you do the odds the exact number of times it’s required. For example, if you receive a bonus of $100 if you deposit $50, your expected value should be around $30. If you finish the casino’s offer about a thousand times, your profit could be $100,000. But, even just a hundred deals are completed in a pace of a couple of months and this is a possibility if they’re finished in one day.
High-risk offers
This way of profiting is not recommended but it’s possible. For example, if you deposit $200 to get a bonus of $200 that has to be wagered around 50 times to get $10,000. Games like blackjack don’t count in this case and can’t be played with high-risk offers.
The reason why this kind of offer is not recommended is that you have a bigger chance of losing thousands of dollars than gaining any money in reality if you don’t know how to correctly, calculate your EV.
How casinos earn money and how bonuses operate
For a casino to actually give you a bonus, they need to take out a sum from their own pocket. Casinos earn their daily gains through, so-called edges in their games. This is also known as the house edge. For example, if you’re betting a solid amount of cash in one game, and you happen to lose your assets, they directly go to the casino’s pocket. If you play out the correct math, you as a player have a small chance of actually winning. To be more specific, your chances of winning are around 48%, while the casino daily earns a little less than 3% of lost bets.
That percentage doesn’t sound like a lot, but if you think about how thousands of bets are lost every day, the profit isn’t so bad.
So just as they have their own edge, your bonuses are yours. But even with that, it’s not a guarantee that you’ll win every time. For example, if you get a generous gift of $200, you can spend it wisely. By betting $1 on every game or spin, you have 200 playable games and you automatically make your winning chances higher.
The reason why you have to play to make an actual profit of your bonuses is that casinos won’t let you withdraw them to your account, you’re forced to either keep the bonus in your playable stash or spend it right away. This is their way of ensuring their audience keeps playing for constant profits for them every day.
In conclusion
These bonuses are a two-way street. Both the player and casino can earn profit from them, although the odds for winning are always against you because every casino wants you to lose your bets in order for them to get a higher profit each time. Even if you manage to hit a million-dollar jackpot in bonuses, you’re limited in the amount you can withdraw from it and how much has to stay in your bankroll. However, even with these limitations, the profit can be pretty high to last you about a month if spent wisely.
