The
Internet has a lot of "guides to casino bonuses" that consist of
nothing but lists of bonus offers and affiliate links. This isn't
one of them. This article is meant to be the only guide to online
casino bonus offers that you'll ever need, not because it lists
every bonus offer out there, but because it actually explains what
casino bonuses are, how they work, and what you as a player should
know about the concept before you even decide to accept a bonus.
A casino bonus is just money that a casino online awards your
account in exchange for making your first deposit, or in some cases,
just for signing up for an account, even if you don't make a
deposit. Some people think you can make a lot of money "bonus
whoring", but we explain why we think that's a foolhardy notion
after the definitions below.
Casino Bonus Terms Explained
Bonus abuse
When a player takes a signup bonus from a casino with the
sole purpose of making a profit.
Bonus whoring
More or less the same thing as "bonus abuse", but the phrase
has become pretty popular.
High roller bonuses
Designed for people who play for high stakes, high roller
bonuses are usually a smaller percentage match but also have
correspondingly lower wagering requirements and larger potential
amounts.
Matching bonus
Most casino bonuses match a percentage of the amount of a
player's deposit. These bonuses normally carry a maximum bonus
that can be awarded.
Monthly bonus
A casino bonus that's available on a monthly basis. This
type of bonus is intended to keep regular customers happy and
playing.
No deposit bonus
A real-money bonus that doesn't require any kind of deposit
or upfront money from a player.
Online casino bonus
A promotional offer from a casino where they give a player
money to play with
Reload bonuses
Bonuses on subsequent deposits, after a player's first
deposit.
Sticky bonus
A bonus that can't be withdrawn. The money can only be used
to play with, but can never be withdrawn from the account.
Wagering requirements
The amount of money that must be wagered before a casino
will allow any withdrawals. Usually some games are excluded.
Bonus Whoring & Bonus Abuse
There
are a few websites who offer systems for taking advantage of the
math of casino bonuses in order to generate profitable playing
situations with online casinos. While that math of these systems
might seem to make sense initially. the reality of trying to make a
living as a bonus whore is quite different.
The theory behind being a bonus whore is that the house edge X
your deposit + bonus will leave you with a profit after you fulfill
your wagering requirements. (For example, suppose you get a $200
bonus on a $200 deposit and you're required to wager 15X the $400,
or $6000. If you play perfect blackjack strategy, you'll lose,
according to the mathematical expectation, about 0.5% of what you
wager...in this case, $30. That would leave you with $400 - $30, or
$370, on an initial investment of $200.)
I have a couple of thoughts about why this sounds great in theory
but isn't practical:
The theoretical house edge is a figure based on large
numbers. You're not even coming close to reaching numbers large
enough for the house edge to be demonstrable when you're playing
wagering requirements. So you could be a big winner or a big
loser either one, since this is going to be a short term play.
Casinos don't like bonus whores, and they will do their
utmost to prevent you from making a profit by labeling you a
"bonus abuser", and then withholding your funds and not allowing
you to play. Even if you find 4 situations with a potential
profit of $50 each, it will only take one casino who decides to
ban you to eliminate that entire profit.
Wagering requirements are set high enough and restrict
enough games that being able to generate big time profits
playing casino games just isn't going to happen.
It takes a LONG time to play through wagering requirements,
and in order to reduce volatility as much as possible, you
pretty much have to bet the minimum amount on each wager. So
your hourly wage is pretty piddling.
Advice About Casino Bonuses
Enjoy
casino bonuses, but don't think you're going to make a living or
even a lot of money being a bonus whore at a casino, regardless of
what you might see written on other websites. Keep in mind that
those websites, like this one, usually get paid to advertise those
casino bonuses. The casinos wouldn't pay them if the they weren't
making a profit from the referred players, at least not for very
long.
Do read the terms and conditions for any bonus before you decide
to accept the bonus, and follow the casino's rules closely.
Otherwise you're just opening yourself up for some serious
disappointment.
Do play casino games that you enjoy, and if you win, enjoy that
too. But don't think that you're going to sign up at a dozen online
casinos next month and be almost guaranteed enough of a profit to
buy a new stereo.
Copyright 2005
Online
Casinos Party, All rights reserved.
Enjoy
casino bonuses, but don't think you're going to make a living or
even a lot of money being a bonus whore at a casino, regardless of
what you might see written on other websites. Keep in mind that
those websites, like this one, usually get paid to advertise those
casino bonuses. The casinos wouldn't pay them if the they weren't
making a profit from the referred players, at least not for very
long.