Casino bonuses are just for suckers. Only idiots think they can win. Actually, that’s not always the case. Casino bonuses might offer positive expected value and here you’ll learn how to find +EV online casinos.
Understand the Sign-Up Bonus
Let’s start from the top and investigate the nature of casino bonuses. When you make a deposit in an online casino, the casino will always give you some sort of bonus. Take Casino Tropez’ first deposit bonus as an example. They offer 200% up to $/£/€150, which is a unique bonus offer for Casino Guide visitors.
A “200% up to $150 bonus” works like this: The casino will give you a bonus equal to 200% of your first deposit, but the maximum bonus is set to $150. Consequently, if you deposit $75 you will get the full $150 bonus.
Naturally the casino won’t just give you the money – that would be too easy. No, you have to meet the casino’s wagering requirements. If you read the terms and conditions of a specific bonus, you’ll find this information; and if you don’t find it, I would suggest that you choose a casino where you can find all facts on how to clear the bonus.
The wagering requirement for Casino Tropez’ sign-up bonus is 8 x (bonus + deposit). To meet the wagering requirements for the maximum bonus you would have to wager 8 x (150 + 75) = $1,800.
In other words, you must wager $1,800 to get the $/£/€150 bonus.
Wagering Requirements Might Differ
Sometimes, or always, there are different wagering requirements for different casino games. Blackjack, for instance, usually has tougher wagering requirements compared with, say, slots. This is because the house edge is relatively small in blackjack, so the casino must make it harder to clear the bonus.
To clear the Casino Tropez sign-up bonus by playing blackjack you must wager 3 times the standard wagering requirements.
“Bets placed on Blackjack, Blackjack Live, Progressive Blackjack and 21 Duel Blackjack contribute one third of their original value towards wagering requirements. In other words, the sum of the bets placed on this game is divided by three when calculating wagering.”
To get the bonus by playing blackjack (remember that not all variations of blackjack have the same wagering requirements) you must wager $1,800 x 3 = $5,400.
Compare the House Edge and the Expected Bonus Value
If you wish to become a successful bonus hunter, this is where it becomes really important. You must calculate whether or not the bonus value exceeds the amount of money the house has won when the bonus requirements are met. If so, the bonus offers positive expected value.
In blackjack, when you deploy the basic blackjack strategy, the house edge is as low as 1%. When you make a $1 bet, the house will on an average deduct 0.01 x $1 = $0.01. The casino takes one cent and you keep 99 cent. When you play without a pending bonus you can’t beat the game, obviously; with a bonus, however, it’s possible.
How Much Will the House Take?
We know that you have to wager $5,400 to clear the bonus, and the house’s edge is 1%. Say that you make 5,400 $1 bets, and play perfect blackjack, the house has deducted $54 when you’ve finished. To get this number, just multiply the house edge by the full bonus, 0.01 x $5,400 = $54.
How Much Will You Earn?
When the bonus requirements are met, the casino has taken $54 due to the game’s in-built edge. But the maximum bonus is $/£/€150. So you has actually made a $96 profit, $150 – $54 = $96. Now we know that Casino Tropez’ first-deposit bonus offers positive expectation.
Things to Consider
Blackjack, and all other casino games for that matter, is made up of a string of random events. This result in fluctuations – sometimes you’re up and sometimes you’re down. Therefore, it’s important that you stick to your original game plan. Don’t start raising the stakes to get out of a losing streak. Although the house edge doesn’t change depending on how much you bet, you are risking your bankroll in the process.
Remember that your goal is to meet the wagering requirements and then cash out the profit. Never continue playing when the bonus is cleared. When you do that, you’re only up against the house edge and will eventually lose your entire bankroll.
Instead, you should go for a new bonus, and Fone Casino offers two more bonuses, both with positive expected value. And then you can make these calculations in other casinos chances are that you’ll stumble across other positive expected values.