Identifying Profitable Online Casino Bonus Opportunities
March 22, 2013
Online casino bonuses are one of the most popular and available of all promotions in the online gambling industry. The idea behind these bonuses is to give players an extra incentive to play, and this allows online casinos to compete with each other by offering bigger and better promotions than their competitors. In the middle of this competition are a lot of players who could profit from this competition by taking advantage of these bonuses. There are a lot of different bonuses out there, and we're going to show you how you can identify the ones that are profitable.
The most important thing is to only look for cashable bonuses. The idea behind these bonuses is that you can cash them out once you have completed the wagering requirements. A lot of bonuses are wager-only, and this means that you can only make a withdrawal of your winnings from them instead of actually cashing them out. These bonuses are almost always useless when it comes to trying to find profitable bonus opportunities. Instead, we're going to suggest that you look for bonuses that allow you to cash out the bonus dollars once you have completed the play-through requirements.
Once you have a bonus like this in mind, you need to look at a few of the games that you can use to clear the bonus and what the wagering requirements are on that bonus for those games. This information will tell you how much money you will lose, on average, while clearing the bonus. For example, if you are going to play a game with a house advantage of about three percent, and you have to clear wagering requirements of $4,000, then on average you're going to lose three percent of $4,000, or $120, while clearing the bonus. If the bonus is more than $120, then you could easily make a profit.
To do this calculation, you'll need to know the wagering requirement, the house advantage of the game you're playing and the size of your bonus. Suppose you have a $200 bonus with a 50x wagering requirement on a game that has a 1.5 percent house advantage. You'll have to wager a total of $200 * 50 = $10,000 to clear the bonus, and you'll lose 1.5 percent of $10,000 in the process. This is a loss of $150, and since your bonus is for $200, you'll make $50 in profit on average.