Beat the Bonus
If you have gone through the rigorous process of screening casinos and have found the ideal place for you to play, congratulations. You might be happy with the graphics. You might be happy with your odds. You might be extremely happy with your bonus. Why wouldn’t you be? Someone just gave you a large wad of credits and a pat on the back. Don’t sit on your laurels quite yet. Sure, the bonus is an extremely nice gift from the casino. But did you stop to think about why they would simply give away free money? How is it to their advantage? They are a business after all. Do I have your attention now?
I am going to be blunt with you. The odds are against you. You will lose. At least, that’s what the casino is hoping will happen. They think that more likely than not, you will have this bonus, which will get you playing at their casino, and you will deposit money, and they will eventually get their bonus gift back from you, plus a whole lot more cash that you did not ever intend on losing to them. It is cruel, but business is business. And casinos are not in the business of being nice. They are in the business of making oodles of money from people like you and me and everyone you know.
They do this by enticing you to play with them. They tell you that they can afford it because they don’t have a high overhead. And this is absolutely true. Online casinos do not have to hire croupiers and bartenders or pay. No free alcoholic beverages or any bills other than what’s required to upkeep servers. Think about it. No rent. No land taxes. They have a nominal customer service staff, but the fact of the matter is that any online casino is significantly leaner than any old style casino. This means that they can and do shift the savings over to players. Don’t misconstrue this for generosity. It is actually an extremely shrewd way for the casino to make use of their surplus funds in order to generate even more money.
The good news is that these savings also go where they count the most. The online casinos reduce the house advantage accordingly. Often, the house advantage is as low as 1%. This is so low as to be inconsequential to most players. It works out for both the casino and the players. The 1% advantage allows the casino to make loads of money. The 99% payback rate allows players to earn much more than they could possibly dream of elsewhere. It’s almost a win-win, in many ways.
Shifting the focus back to the bonuses, it would appear at first glance, that they are indeed just a generous thank you to patrons who help make the casino such a spectacular success. But not so fast! Anyone who reads the fine print knows that there are strings attached to this money. These strings come in the form of a wagering requirement, and they function in a way that allows the casino to always hold on to the bonus gift. This is what they would have you believe.
The wagering requirement stipulates that in order to cash in the bonus money, players must first gamble a set percentage of the original bonus. Various casinos have different requirements. Some have a 10x wagering requirement and others have a 30x wagering requirement. Assuming the original bonus was $100, a 10x wagering requirement asks that players place bets amounting to $1000 and only then, whether they win or lose, they can take everything out. It might sound impossible for people who take out massive bonuses to do this. Smart players have figured out that appearances can be deceiving and there is a way to come out ahead of the game.
The answer lies in some very basic math. The formula asks you to know the amount of the first deposit and how much the match bonus comes out to. On top of this, it requires you to know how much the wagering requirement is set for. Thus, you can set up a mathematical formula that can be expressed as B-(W*E). Wherein B is the bonus amount, W is the average wager you will place and E is the house edge. The math is actually quite simple when you break it down. Let’s use an example to illustrate how it works.
If, for example, you were to play a game with a low house edge, such as blackjack. Oftentimes, you will find that the house edge in blackjack hovers around 0.5% if you are a skilled player. If the bonus were set at $100 with a 20x wagering requirement, then plugging the numbers in the original formula, it would look like this: 100-(2000*0.5%)=$90. The way to look at this formula is to understand that it is possible to yield $90 out of the original $100 bonus after the original wagering requirements have been met. It is possible to look at the $90 as profit in this instance, because no money in addition to the original bonus amount has been wagered.
The example above might seem unrealistic, because not everyone can play blackjack with the skills required to shave the house edge to half a percent. It is completely attainable, however, for players who have the skill necessary to play perfect blackjack. When you view the bonus and who gets to keep it, in this light, the game becomes the player betting on himself and the casino betting against the player. Each error the player makes, helps the casino win back its bonus amount in full and the $90 will be whittled down to $80, $70…and so on until it is all gone.
It is imperative to play perfectly. This is the realm of professional gambling. Professionals who know the games and can play at a high level are able to consistently take home a large amount of their bonuses. $90 might not seem worth the effort, but don’t forget that bonuses are often much larger. Also, there are many casinos one can play at concurrently. This is a tried and true tactic that many professional gamblers utilize successfully. Even assuming a minimal gain of $90 a month, multiplied by 20 casinos, can mean $1,800 in clean monthly profits. When you realize that $900 per bonus is attainable, it is easy to see how the money can really add up.
Be warned, however, that this method of earning money is extremely risky. You need to be extremely skilled to make it work, and it is best left to the pros. It is an incentive to become more proficient, though. The realization that the bonus system can be gamed for profit is a powerful motivator for anyone considering a career as a professional gambler. Make sure to exercise caution and patience. You might eventually join the ranks and you will not regret it if you do. Start now by checking out Grand Reef Casino.