On the surface, every online casino bonus looks attractive. An operator might promise you 200% on your first deposit, meaning you earn $200 for every $100 spent. But it’s only after you look at the mathematical side of a bonus that you determine whether it’s worth it or not.
In case you’re wondering, the math behind casino bonuses is easy to understand. And it’s important to use it to find great casino bonuses online. Ready? Let’s dive right in.
Bonus Amount and Percentage
The first thing most people see at casinos is either the bonus amount or the percentage offered for your deposit. Depending on the bonus type, the amount can be as small as $10 or as much as $10,000.
No deposit bonuses attract small bonuses, usually $10 to $50. Still, people love these freebies because they don’t ask for a deposit. You get into a casino, create an account and earn your bonus.
First deposit bonus come in huge amounts. And in many cases, they’re expressed as a percentage of your deposit amount. For example, you can receive a 100% first deposit bonus worth up to $100.
Here, the most important information is the 100% and the maximum limit of $100. You need these two figures to compare with other offers out there. A different operator could match your deposit 200% up to $500. But don’t rush to claim it though. There are other factors to consider
Wager Requirements (Playthrough)
Wager requirements are the main reason some people don’t claim and use casino bonuses. What are they? They’re a condition for withdrawing bonus winnings.
To expound more, playthrough demands that you must spend a certain amount of money at a casino before you withdraw your bonus-related profits. The exact amount is determined by the house.
Usually, it’s a small math problem based on your deposit amount, bonus amount or both. Precisely, it’s a multiplication of your bonus amount or the sum of your deposit and bonus.
The best online casino bonuses in Asia, Europe and North America have a small number of wager requirements. It ranges from zero to 40x your bonus amounts. The worst operators have a playthrough of up to 80x your bonus amount. Or they could ask for 40x the sum of your deposit and bonus.
How to Calculate Wager Terms
As mentioned, wager terms are a multiple of your bonus amount or the sum of your bonus and deposit. By all means, avoid casinos that sum up your bonus and deposit. It’s exploitive and makes it impossible to cashout bonus profits.
That being, it’s easy to calculate the amount of money you need to spend to fulfill playthrough terms. Let’s say you claim a $50 bonus with 30x wager requirements. Multiply $50 by 30. It means you need to spend $1500 at a casino before you can withdraw your winnings.
Assuming you claim a 100% bonus worth $50. The playthrough is the sum of your bonus ($50) and deposit ($50) multiplied by 30 times. You’d need to spend $3000 at a casino to cashout your profits—which is too much.
RTP/ House Edge in Supported Games
When looking for casino bonuses, there’s one thing you must always check. What games can you play using the freebie? And what are the payout rates for these games?
The goal is to find bonuses you can use on high-RTP games. For the uninitiated, RTP means Return to Player. It describes the rate by which a game pays out money to winners.
RTP is the opposite of house, a casino’s innate advantage over players. If a slot machine has a 95% RTP. The remaining 5% is the house edge. Most games have well-known payouts.
After you receive a bonus, check all the games you can play with it. Next, single out top-paying slots and table games. These are the games you need to focus on to win money from your freebie.
For slot machines, find games with RTPs above 95%. They include Gonzo’s Quest, Thunderstruck II, Mega Moolah and Starburst. When it comes to table games, the house edge shouldn’t exceed 5%.
Blackjack has one of the lowest house edge rates at 1%. Roulette has a house advantage of 2.7% (European Version) while the rate in poker varies from 1% to 5%.
People often ignore game weighting when analyzing casino bonuses. Yet, this is an important metric for determining how you need to fulfill wager requirements. Basically, game weighting refers to the percentage of gambled money contributed towards fulfilling your playthrough.
At many casinos, video slots are the best games to play to fulfill wager terms. Precisely, a slot could contribute 100% to your wager terms. If you spend $100 at a NetEnt’s Twin Spin, $100 is deducted from your overall playthrough amount.
By comparison, table games tend to contribute 5% to 20%. If you play $100 on a roulette game that contributes 20%, only $20 is deducted from your overall wager requirements.
In light of that information, it’s essential to understand game weighting requirements for different bonuses. That way, you’ll have an idea on which games to play to meet your playthrough terms quickly.
Withdrawal Limit and Validity Time
A bonus’ withdrawal limit is a valid reason to reject an offer from a good casino. Picture this. A casino has gives you a first deposit worth $100. That’s fine. But the maximum you can withdraw is $200.
Now, this isn’t a small amount. But most casinos give out bigger withdrawal limits. Some have no caps on your bonus winnings. Then there’s validity time. It’s the time you need to utilize a bonus or fulfill your wager requirements.
Many casinos have a time limit of 24 hours to 30 days for using a bonus. Of course, you want an offer with a lenient validity time. This is particularly important for meeting wager terms.
The standard period for meeting playthrough is 90 days. If it’s too short, then you risk losing out your bonus profits.