How to Make Money From Online Casino Bonuses

How to Make Money From Online Casino Bonuses

From Jonh Robinson

Most online casinos offer a bonus to new players so they won’t leave for competitors’ sites. It's possible to cleverly turn these bonuses into cash you can withdraw.

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Most online casinos offer a bonus to new players so they won’t leave for competitors’ sites. It's possible to cleverly turn these bonuses into cash you can withdraw.

Using casino bonus to make money is similar to sports matched betting, which you may have heard of before. The significant difference between making money from casino bonuses and matched betting is that the former isn't risk-free.

It can still be a profitable venture. Many bonuses are offered, and it's a great time to take advantage of them. Some casinos have a high bonus percentage.

There are restrictions on withdrawing this money through the use of casino bonus wagering requirements. This could be limiting the amount of times a punter can play. With the help of our expert, Carlos Norberg, you'll learn how to use bonuses to make money.

Casino Edge

The casino edge is the principle that you'll lose the more you play. For instance, let’s say you're playing a coin toss game, and every time heads come up, you win SEK 1. If tails come up, you lose SEK 1.10. There's a 50/50 chance the coin will land on either side. So, for each toss:

     If heads comes up: (0.5 *1) = SEK 0.5

     If tails comes up:(0.5 * 1.10) = SEK 5.5

These formulas mean for every SEK 1 bet, you'll lose 5%. For a casino, this is the house edge. The casino wants people to keep playing because the house edge ensures they lose in the long run. For this reason, some casinos’ wagering requirements are high.

The house edge differs between each game, though the variations tend to have a similar advantage. Some games’ edges can be as high as 30%, while others are on the low end at or around 0.28%.

Wagering Requirements

You can look at the wagering requirements as terms and conditions for making your bonus withdrawable. Often, the requirements are listed as a multiplication factor of the prize. For example, it could say SEK 25 bonus, 20 times. In this scenario, you could either play with a stake of SEK 25 20 times or play with a SEK 500 stake.

To withdraw the SEK 25 bonus, you would first need to spend SEK 500. The trick is to look for a casino with generous bonuses, low wagering requirements, and games with a low casino edge. Finding a casino that has all three advantages is difficult. You should look for a casino that offers you the best benefits.

Making Money

Let's say you go to a casino with a bonus of 100% up to SEK 25 with a minimum of eight times the wager. So, you'll have to bet SEK 200 before you can withdraw the bonus. If you then decided to play blackjack that has a casino edge of 0.5%, you could calculate your expected losses with:

SEK 200 * 0.5, which is SEK 100

After you've bet you SEK 200, you would lose about SEK 100. If you subtract that from the bonus, you're left with SEK 24. Then you can withdraw your winnings and the reward.

The math doesn't always work out in our example due to game variance, measured by the standard deviations. The variance can change the amount of money you win or lose. If you want to figure out if a bonus is in your favour, you can use an online calculator.

Looking for Bonuses

Casinos are a business, so they try not to offer promotions and features that'll make them lose money. That's why hunting for bonuses is so essential; one that's favourable for players is hard to find. Some casinos will even restrict their bonuses to games with a high house edge or a maximum bonus amount.

One way to find a good bonus is by going through the hundreds of offers from casinos to pick the most favourable one. You would also have to do the calculations yourself.

Another thing you could do is use automated software. This tool will search through thousands of casinos to find promotions in minutes. Software like this will find a great bonus and favourable wagering requirements.

At a casino with a generous bonus and reasonable requirements, you can make money from the rewards. It would be best if you also looked for a casino that offers frequent bonuses and promotions, so you have a greater chance of making money from bonuses.

Conclusion

Hopefully, you now know what's involved in making money from a bonus. You can use these tips on any bonus a casino offers.  Good luck!

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