October 27, 2019
Between 2000 and 2006, when the idea of casino bonuses gained prominence, it was simple to make free money from them. Back then, these bonuses were huge and had relatively little or no wager requirements with fewer restrictions on games you could play.
While you can still make money with these welcome bonuses, it has gotten much more complicated. The online casinos have improved their calculations and increased restrictions on games to play and clearing bonuses for withdrawals.
Understanding the House Edge
When it comes to playing, online casino games are vastly games of chance. Winning is, therefore, based on luck. But no business can bank on acts of providence to keep running, don’t you agree?
So a casino game’s Return to Player (RTP) is slightly less than 100%. This slim difference is what forms the house edge, an advantage that guarantees the casino profit and continued-stay in business. For instance, a game with an RTP of 96%, has a house edge of 4%.
The house edge, though, doesn’t mean the casino wins every game. It ensures the casino operator earns this average percentage of the total wagers on that particular game. So if players spend $1000 on that game, then $960 will be paid as winnings, while the casino retains $40.
How do online casino bonuses work
No online casinos are in the business of charity. Thus, any casino giveaways are to entice players to continue playing with them and hopefully generate more business. That’s why once you make a withdrawal, you forfeit bonus account balance.
When you play with a bonus and win, the wager amount may return to your bonus balance, or become available for withdrawals in your real balance. It all depends on the type of bonus the casino gave you and the bonus rollover requirements.
You cannot withdraw casino bonus balance, and for the bonus winnings to reflect on your real balance, they must meet stipulated requirements. For starters, you must meet the wagering requirements by spending a certain amount before you qualify your winnings on a bonus for withdrawals. But this bonus expires, so you must meet the terms within the specified window.
Other conditions may include restrictions on the games and the number of times you can divide the casino bonus.
How to wager a casino bonus
So, it’s no longer easy to make money with an online casino bonus, unless you are willing to dedicate time and be patient. Most importantly, you must be resilient and able to sustain likely losses.
To convert your welcome bonus or deposit casino bonus into profit, you do the following:
- Choose the online casino with the best bonus offer, preferably 200% up to $2,000 match up deposit bonus.
- Make the maximum profitable deposit, in our example, is $1,000. With $3000 worth of bankroll and luck on your side, you are likely to make money. The keyword here is luck, and as you know, it can go either way.
- Choose the game to play, preferably high variance online slots. These slots are of high risk and pay infrequently, yet, when they pay, they reward handsomely.
- Play $1 spins aggressively until you meet the wagering requirement. Continue playing until you either win or exhaust your account.
If you are lucky to win, you can walk away with a handsome amount. It is, however, challenging to profit from bonuses other than enjoy yourself by extending your playtime.
Whatever you decide, always remember that we visit online casinos to have fun; making money is just a bonus.
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