The Calculation You Need Before Using Online Casino Offers
How do you choose an online casino offer? Do you randomly go by the one that pops right before you? Or do you choose the one you have a good gut feeling about? If you are going by your instinct, you should no more.
Remember, not all online casino offers are created equally. They are created after enough calculation such that the casino operator doesn’t end up with losses. So, how do casinos still provide bonuses without hurting their pockets? We will find out in this article. We will also discuss how players can best use these offers.
What are online casinos offers?
An online casino offer is everything you get on an online casino for free. Think of bonuses, promotions, tournaments, and giveaways. But are they free?
Ongoing promotions (like welcome bonuses and bonus spins) help casino operators attract players. Sure, online casinos lose some money in providing offers, but they tend to minimize it by adding terms and conditions. Some of the online casino offers are actually profitable. For this reason, it’s important to know how these offers work to make the best of them.
Different types of online casino offers
Here are the different types of online casino offers you will often come across:
- Bonus spins
Bonus spins are one of the most commonly granted online casino offers. To be utilized on either a specific slot game or a slot game of the operator’s choice, bonus spins allow the player to play a slot game for free for a while.
Any winnings from these bonus spins are withdrawable under certain terms and conditions.
- No deposit bonus
Is making a first deposit at online casinos mandatory to begin playing? No, certain online casinos have adopted a no-deposit bonus marketing tactic. This allows the player to begin playing after registration without making any deposit.
The motive of casinos behind such bonuses is to gain new customers. Registration requires basic information about the player, most importantly, an email id. Such customer data is crucial for any gambling platform.
- Match deposit bonus
A match deposit bonus is a commonly used welcome bonus. Provided to the new player, it doubles or even triples the deposit amount. Such an offer reads as ‘get 100% match deposit bonus up to £500’. Some casinos also prefer giving 150% to 200% match deposit bonuses.
Such an offer is available to new players only. Furthermore, it is only available to those making a minimum first deposit. The upper limit of bonuses also helps casinos provide bonuses to the amount that is profitable to them.
Cashbacks return a percentage of a player’s losses to the player.
The trick here is that the players must place at least the minimum amount of bets to be eligible for the offer within a stipulated period – usually a week. A player who may not otherwise place, say, £100 worth of bets will be lured to place to be eligible for the cashback.
- Tournaments (prize pool)
Tournaments come with a collective prize pool distributed amongst the tournament’s top players. These tournaments are conducted by specific software providers.
One of the main qualifying conditions requires the player to place a minimum qualifying bet on participating games. These participating games could be from a software provider like Playson, NetEnt, Pragmatic Play, and so on. It’s a form of marketing tactic used by software providers to attract players to play their slot games only.
Importance of calculating before using online casino offers
It is very important to perform a basic calculation before opting for an online casino offer. Sometimes, opting for an online casino offer may not be as advantageous. Some of the reasons why you should calculate before using online casino offers:
- Take the best advantage of the offer
Calculating or rather understanding an online casino offer is important to take its best advantage. Looking at the terms and conditions is necessary as that’s where most of the unfairness exists.
Terms and conditions will let you know if the efforts required to get that bonus are worth it.
- Play responsibly
Blindly opting in for a casino offer may sometimes force the player to play irresponsibly. Remember not to ditch your budget, even if it is for bonuses. Bonuses are lucrative at first sight, but you should be clever enough to calculate their value per your needs.
Surely, some bonuses are worth it, but there is always a matter of uncertainty.
- Minimize your losses
Sometimes you may lose more in an attempt to get extra bonuses. However, calculating their actual value will help you balance your profits and losses.
How to calculate the actual value of online casino offers?
Various factors will help you calculate the actual value of online casino offers. Let’s dig right into it:
Look at the bonus amount you are getting. This is usually a safe call in case of the match deposit bonus. A 100% or more match deposit bonus is good to go. Any amounts of bonus spins are also good to go.
This is where we need all your attention. Aim at finding an offer with no wagering requirement. If not, look for an offer with the least wagering requirement.
Can online casinos allow you to cash out all your winnings from the bonuses directly? Well no! They will end up being bankrupt sooner than later if they do so. This is one of the reasons why the wagering requirement exists. Online casinos want you to contribute equivalent money before you can cash out the free money.
For instance, let’s say you get a £100 bonus and a further £100 from bonus winnings, and the wagering requirement is 40x. In such a case, you must spend £100 x 40 = £4000 before withdrawing the winnings. Some casinos even include both deposit + bonus for completing the wagering requirement.
This way, you end up contributing more than necessary. Have a look at the wagering requirement and make use of its nowhere near 60x or above.
DO NOT forget to check the gaming contribution. While you may be focusing on completing the wagering requirement, you suddenly realize the games you placed bets on didn’t even contribute to the wagering requirement.
Only a few of the games contribute 100% to the wagering requirement. Depending on the casino, games like Roulette, Sic Bo, and virtual games contribute 0% or 10% to the wagering requirement.
Make sure the games that contribute 100% to the wagering requirement are the games of your choice before opting for an online casino offer.
Maximum win limit
Another way to calculate the profitability of an online casino offer is by finding out the maximum win limit. Some offers read as:
- Get up to a £100 welcome bonus
- Get a 100% match deposit bonus of up to £100
- Get up to £3600 in welcome bonus spread across four deposits.
These are some of the common scenarios.
- In the first case, the player gets a fixed bonus irrespective of the deposit amount.
- In the second case, the player has a maximum limit of £100. This means they should not deposit more than ££100. Any deposit made over £100 will limit their bonus to £100 too.
- In the third case, the maximum bonus limit is £3600, however, this is divided among the first 4 deposits or so (as the case may be).
The winnings from the bonuses are also capped. For instance, if the casino offers 50 bonus spins, it definitely has a maximum win limit (say £250). Any winnings from bonus free spins cannot exceed £250. The operator will forfeit any extra winnings.
How to decide which online casino offer to use?
Here are some tips and tricks to follow while choosing an online casino offer:
Take the help of gambling deals that compare the most awesome online casino offers under a single roof.
Jot down the popular online casinos in your region and look at their welcome bonuses. Make a priority list of your offers. Would you prefer a match deposit bonus over bonus spins? Or a no-deposit bonus over a match deposit bonus? Do you give more weightage to free bets on sports books than cashback? Keep your preference in your mind. A wagering-free bonus should be top on the priority list.
Once you have created a preference list of offers, read the terms and conditions. A no-deposit bonus with a 65x wagering requirement is a poor offer compared to a 150% match deposit bonus with a 40x wagering requirement. Choose wisely.
Sound like quite a task? You can take the help of gamblingdeals.com and get the latest comparison of online casino offers to make it quick and easy.
Online casino offers are there for a reason. They are a perfect balance of spice and sweetness. Some can be too spicy (full of terms and conditions), and others too sweet (no wagering).
To sieve the sweetness, calculating the actual value of online casino offers is essential. It does not involve the use of any mathematical formula. It just requires giving extra attention to the wagering requirement, maximum win and bonus limit, game contribution, and the validity of the bonus.