Most serious casino players have freebies ranking high on their checklist. For land-based casino goers, free drinks and a few betting rounds would come in handy. On the other hand, online players get some of the best casino bonuses to choose from.
But don’t be surprised to know that most players make little or no profits from casino bonuses online. So, where could they be getting it all wrong?
Learning the expected value of the promotion is very important to make something from it. That’s because playing casino games entails more than just having fun. After all, nobody likes losing.
So, suppose you get a 100% up to $200 casino match-up bonus. In this case, you get an extra $200 for depositing $200. Now, this makes your total bankroll at the online casino to be $400. Great!
But while this sounds enticing than getting a 100% up to $100 bonus, there’s more to it. In most cases, casinos bundle in the wagering requirements. This essentially refers to how many times a player should use the bonus money before withdrawing any winnings from it.
So, if both match up bonuses have a 20x rollover requirement, it means a player who gets the $200 will have to play with $4,000 to withdraw the amount. On the other side, the $100 bonus only needs you to play with $2,000 to cash out. Who wins?
Don’t worry; these things don’t need a mathematical professor to calculate. The RTP is basically the amount a player expects to win for every 100 coins played. So, for instance, if a slot machine has a 95% RTP, the maximum expected return for every $100 wager is $95.
The house edge or advantage is the exact opposite of the RTP. Essentially, you get the house edge by subtracting the RTP from 100%. So, in the example above, the casino is assured of $5 whether you win or lose.
But how does this affect the casino bonus? Most bonuses and free spins are attached to a specific video slot. Even if not that, the type of slot machine you play the awarded bonus money on will determine if you make something in return.
Therefore, use your free spins and bonus money on a high RTP slot machine. This guarantees you more returns in the long run. It’s best practice to avoid anything below 96%.
If you’re lucky, the bonus terms and conditions may not restrict you from playing table games. If that’s the case, then thank your stars because online slots are the greatest enemy to your bankroll.
First, online slots have low RTP rates. Experienced players will know that most don’t even exceed 97%. Secondly, and even worse, online slots are games of chance. Therefore, no amount of skill can beat the house advantage.
Here is where table games like blackjack, poker, roulette, and baccarat come into play. The first two allow players to use techniques like edge sorting and card counting to tilt the results in their favor. When using an optimal strategy, poker and blackjack players can enjoy a house edge of less than 1%.
Baccarat doesn’t fair badly either as players enjoy a 1.06% house edge on the banker bet and 1.24% on the player bet. Now compare these rates to online slots, and you’ll swear never to spin the reels again.
The next time you come across those attractive casino bonuses online, make your calculations first. That’s because some casinos will tie your reward to online slots with RTP rates less than 95%. So, approach cautiously and use your bonus money on table games wherever possible. Good luck!