Turn the Tables on the House
When you’re considering which online casino you want to play at, it’s important to look at the bonuses, promotions and other deals that often return significant value back to the player. The old adage, “The house always wins” is mostly true. However, there are some cases in which the saying is most definitely false. Advantage gamblers look for and exploit these profitable opportunities.
Calculating the Value of a Bonus
To calculate the expected value of a bonus, you need to know three things: the amount of the bonus, the playthrough required and the house advantage (HA) in the game you will play. The first two numbers should be included in the T&C of the bonus. The HA of common casino games can be easily found on the Internet. Then use the formula:
EV = Bonus – ((Playthrough) * HA)
Let’s say we deposit $100 and receive a $100 100% match bonus. The playthrough requirement is 25 times the deposit + bonus. We’re going to play a game with a HA of 0.56%. Plugging these numbers into the above formula, we get:
EV = $100 – ((25 * ($100 + $100)) * 0.56%)
EV = $100 – (($5000) * 0.56%)
EV = $100 – $28
EV = $72
This bonus has an expected value of $72. This is the average value you can expect to gain, but there is a lot of variance in casino gaming. Your actual results will vary greatly.
There are a few things you should be careful of when chasing casino bonuses. Be sure to read the T&Cs of any bonus you wish to claim, and look out for the following pitfalls:
• Disallowed games
• Higher wagering requirements for certain games
• Bonus funds that can never be withdrawn
• Unclear or vague bonus terms
Bonuses are the bread and butter of any advantage gamer, but you should be on the lookout for other profitable offers. Some of the ways that casinos return value back to players include:
• Comp points or frequent players club
• Lotteries and sweepstakes that award entries for depositing or playing
• Casino tournaments
• Special limited-time deals
When you claim all the extra funds for which you are eligible, you are one step closer to making a profit. Use all the bonuses, comp points, promotional sweepstakes and any other extra value you can find to gamble against the casino with the best of it.