Latest News Editor's Choice

Technology / Internet

Bonuses for Dummies: How to turn online casino bonuses into real money

by Staff Writer
31 Oct 2019 at 10:36hrs | Views
Online casinos have beaten all the odds since their invention and very fast, they're beating the land-based casinos, too. Because of this, the number of online gambling sites just keeps growing. With it, the competition grows.

We all know what happens when competition grows in a field. Companies start using different tricks and strategies to convince people to choose them out of the crowd. This for you, means that you'll probably stumble upon many bonus offers regardless of what casino you visit online.

With a bit of cleverness and some research, you can use these bonuses and turn them into real, withdrawable money.

Casino Bonuses: How They Work

You go to casinos to win real money and have some fun playing the games but, what if there is a chance to double your deposit or turn that enticing bonus into real cash? This reduces your spendings and gives you a sure win and, if it's a viable option, you should definitely use it.

Depending on where you're based, you'll find varied bonus offers. For example, if you're based in Poland, you will probably come across many of the popular matched betting bonuses. These are your best option if you have the money to spend on the website. In fact, some of the go so far as to double your deposits and give you thousands of dollars as a bonus. This is, without any doubt, the best option you can choose when you gamble at an online casino for the very first time.

In order to understand how you can turn a bonus offer around, you need to understand how bonuses and casinos work. Most casinos will offer their new, potential players, some kind of an incentive to choose their casino. Provided that you find a good bonus, you can expect to make real money. And, if it's a matched bonus based on your deposit, you'll already have doubled your deposit just by signing up.

But, let's consider the rest of the options aside from matched betting. Many people today select bonuses that let them use the casino lowest minimum deposit offer. This is what makes online casinos so attractive – they are available to anyone with any budget.

Let's learn by example. Say you're required to deposit $10 to get free spins, and follow up with a series of bets that adds up to $150. The casino then offers you a generous bonus of $15 that you can withdraw with what's left of your first deposit.
In another case, you will be asked to deposit $10 to get $5 as a bonus. You'll also be asked to play with the bonus amount for a certain amount of times, for example spend it five times in a row, and then collect your winnings.

To make your winnings highly probable and ensure that you can get these bonuses without cheating, but only by learning the system, you need to know one thing – the house edge. Basically, it all comes down to where you spend the bonus the casino has gifted you with. The lower the house edge, the higher your chances at getting that bonus in your bank account.

Using the House Edge to Get the Bonus

Let me paint you a nice picture of how all this works.

The house edge of a blackjack is just 0.5%. The casino asks you to spend $25 on your first bet and a total of $200 in few first bets to get $25 as a bonus. You place 200 bets of $1 to a blackjack game.

In the end, you're losing $1 and have $24 left out of your first deposit. The bonus is then added to your balance. When you sum both these numbers, you get $49. You've almost doubled your deposit and won some money you can actually withdraw.

Of course, there's a risk in doing this, too. The odds are in your favor if you do this, but there's no guarantee that you'll lose $1 only. In fact, if you get greedy, you can lose more than your first deposit and start wasting that $200 you deposited to get the bonus in the first place. So, it's your luck there that will prevail, as well as your better judgment, but with a house edge of 0.5% and a smart strategy, you're very likely to get the bonus as a win.

If you're interested to learn about your odds in this case, blackjack has a standard deviation of 1.15. So, with a $1 bet size, you have a 95% chance to earn a sum between $7.75 and $40.25. But, you also have to think of those 7% that can cause you a loss. Of course, the loss will depend on how much you decide to spend, so you can basically stop if this is not your lucky day.

Tips for Using the Bonuses

We have two tips that apply to this strategy. The first one answers this question:

What will happen if you lose the deposit before you complete the wagering requirement. If this happens, you'd need to deposit more money to complete your strategy and finish your betting. The goal is to get the bonus and withdraw it, but don't go overboard and gamble too much.

And finally, you'll need to know the odds to get the best out of these bonuses. Here are some general statistics:
 - Baccarat has 1.06%
 - Craps has 0.34%
 - 3 card Poker has 2.01%
 - American Roulette has 5.26%
 - French Roulette has 1.35%
 - Slots have from 3 to 10%, with an average of around 5%

Are you ready to play some casino games? With the welcome bonus of most casinos, you can quite literally make more than you've deposited in the first place. It's a great way to earn more to be able to play more, not to mention withdraw some winnings to your bank account. Good luck!

Source - Byo24News

Get latest news by email: