Some casinos offer free spins and bonuses to lure the player in. However, if they allowed anyone to play with free money and cash out whenever they wanted, they would be out of business in minutes.
After all, why would anyone pay to play if they could just play for free? Even if this is just for a small, limited amount, there are enough online casinos out there that you could always find a way to play for free. Even more importantly, what if you could just “cash out” this bonus? It would mean getting money from casinos for free.
With all this in mind, you might wonder if there’s a catch. Is there a way for you to mathematically calculate the best way to wager against casino bonuses? Let’s find out!
When can you cash out?
You may get a bonus when you decide to play at the casino. You must determine how often you bet/win to turn this bonus into real (withdrawable) money.
This betting limit is usually quite significant. Sometimes you have to bet 40 times the value of the bonus, to cash out. If you get a £10 bonus, you may have to place £400 in bets to cash out.
The amount of money you deposit may also play a role. In other words, the money you deposit will be added to the calculation. For instance, if you invest £10 and get £10, you may have to place £800 in bets before you can cash out. In this scenario, the bonus will be a handicap since you wouldn’t have to wait so much without it to cash out.
The requirement doesn’t have to be 40 times, but it’s likely to be in this ballpark. Just check this out before wagering. Ideally, you’re looking for the lowest wagering requirements casino to bypass this handicap.
Other notable requirements
The wagering requirement is not the only requirement that a casino will have. So, you must become familiar with all of these before finally deciding where you will play.
For instance, you may want to check if deposited or bonus money come first. With most casinos, you’ll have to start playing with your own money before you’re given the extra cash. Still, some casinos are an exception to this rule.
Some try to bypass the requirement ceiling quickly by placing big bets. The reason why casinos have those protective measures, to begin with, is to avoid these scenarios. If there’s no deposit requirement, you could place one large deposit and win one large bet before you could “cash out” this extra money. To prevent this, some casinos place a maximum bet limitation. Sometimes, this bet can be as low as £5 or £10 per bet. This way, it would take a while before you could cash out the bonus.
Then, there’s the expiry date. Due to the nature of this bonus and casino balance, the bonus amount cannot last indefinitely. So, you would need to complete a wagering requirement by a certain date; otherwise, you would risk losing the bonus money.
Lastly, some games (especially slot machines and apps) are exempt or weighted against the requirement. For instance, a bet on a certain slot could be worth just 50%. This way, instead of £400, you would have to wager £800 to get your bonus.
How difficult is this in practice?
The difficulty is almost always tied to wagering requirements, but you need to focus on the deposit. An x20 requirement that counts as an equal deposit is an x40 requirement. In other words, the number is deceiving because the deposit is taken out of the equation. It disrupts the number of times you would have to place a bet to get your money, and there are no two ways about it.
What can you do?
There are a few things you can do to improve your chances. First of all, you need to take advantage of special offers. Check if there are wagering requirements. Sometimes, the bonus will be so small that regular users may have access to wager-free rotation. This way, you just bypass this entire step.
Second, check if a game/machine is weighted. If it is, you can just move to a different game. This way, you reach your goal with the same number of games.
Lastly, you need to read the terms and conditions to understand what odds you’re up against. The casino is usually required to disclose this. The problem is that people are not paying attention. just because you’re familiar with the rules at one casino doesn’t mean they are transferable.
Doing the math
The most important thing you need to understand is that betting £400 doesn’t mean losing £400. You’ve placed £400 worth of bets and lost £395. With the bonus of £400, you’ll still have a £5 net positive. It’s not much, but it’s enough to explain how these things work.
With that in mind, safe betting strategies and low house edge can help your case significantly. Games like blackjack and roulette have some of the lowest house edges.
It’s also important that you check contribution percentages and weighted games. While we’ve mentioned a scenario where the value is 50%, some games don’t contribute. In other words, you get 0% towards the bonus cash out.
Also, while some tactics exist, online casinos are very careful about this. They’re constantly improving and looking to eliminate them. Remember that the majority of guides that you’ll read about this online may already be outdated.
Wrap up
The most important thing to understand is that you can’t get rich this way. The point is that it’s not even made to help you get rich. Bonus rounds and bonuses allow you to play using someone else’s money.
You can supplement your existing wagering budget or test a new strategy. However, hoping to trick the casino out of free money will not happen. The sooner you abandon this idea, the sooner you’ll start using your bonus correctly.
