A profitable bonus isn’t just one that gives players free credits on top of their own investment. Most bonuses are designed to cost players more than they are worth. It’s not exactly an evil plot to rid you of your cash. These are casinos, after all. They aren’t in business to make everyone a winner.
If you know what to look for, and how to do the math, it is possible to find profitable casino bonuses online. They are extremely rare these days, but they do exist. You don’t have to be a calculus major either. Most of us can do these simple equations in our head. Please don’t hesitate to grab a calculator to simplify the process if you like.
Finding Profitable Online Casino Bonuses
There are three key ingredients you’ll need before you can calculate the true value of casino deposit bonuses. They include:
Size of the Deposit & Bonus: How much cash are you investing, and what size bonus are you getting in return? For example, a $100 deposit on a 100% up to $100 bonus will beget $200 in overall value ($100 invested + $100 gifted).
Wagering Requirements: The wagering requirements (WR) are the amount of play-through you must complete to clear the bonus, displayed as a multiplier. 40x WR would require a $100 bonus be wagered 40 times. $100*40 = $4,000 in wagers. Also note whether WR is required on the bonus alone, or deposit + bonus. If deposit+bonus, a $100 deposit + $100 bonus would require $200*40 = $8,000 play-through.
RTP / House Edge: The return to player (RTP) is the percentage of money returned to players as winnings, compared to what a game holds (i.e. casino win). RTP is the opposite of the house edge. If a slot machine has a 96% RTP, it has a 4% house edge. It will return, over time, $96 for every $100 it takes in, keeping the other $4 for the house.
Calculating the Value of Casino Deposit Bonuses
The formula here is pretty basic. You multiply the deposit+bonus by WR to get play-through. Then multiply the play-through and house edge. This is the amount you can expect in losses. Subtract the original deposit+bonus and if the result is a positive integer, you’re making a profit. If it’s negative, it’s an overall loss. Let’s try a few examples:
Example #1: 150% up to $300 with 40x WR
You deposit $200 to receive a 150% match of $300; a total of $500 to wager with. The WR is 40x, and you are restricted to playing a small selection of slot machines with a 96% RTP (4% house edge).
500 x 40 = $20,000 play-through
$20,000 x 0.04 = $800 in losses
$500 – $800 = -$300 negative loss
This is a bad deal, as you’re projected to lose $300 before WR is complete.
Example #2: 100% up to $100 Bonus with 35x WR
You deposit $100 and get $100 free. The deposit+bonus is $200 with 35x WR. You find an eligible game to play with a 97.5% RTP (2.5% house edge).
200 x 35 = 7,000 play-through
$7,000 x 0.025 = $175 in losses
$200 – $175 = $25 profit
This is a profitable online casino bonus! You can expect to have $25 left over once WR is complete.
You can see that it’s a combination of things that matter. Just having a lower WR won’t help if the house edge is too high. In the same token, a high RTP isn’t beneficial in the case of exorbitant WR. For those who take the time to do the math, casino deposit bonuses can be a great way to extend your entertainment and your bankroll. Check out our Bonus Hunting Tips & Tricks to learn more.
Royal Vegas is our editorial pick for safe Canadian gaming. Currently offering a good range of Canadian deposit options, everything from prepaid gift cards, to eCheck, instadebit and visa/mastercard. That, and a world-class gaming experience, with countless table games, strong variety, and even live dealers. The brand has been in the business for a decade long.