Would you like to know how to work out the value of any casino bonus you might find? This can help you to concentrate your efforts on the most profitable bonuses, and avoid those that might look good at first glance, but have little or no value thanks to the small print!
Once you have found your bonus, you need to check the terms and conditions for the offer. What you are looking for is the wagering requirement, usually shown as either a multiple of either the bonus amount, deposit, or both.
Examples of this would be 20x Bonus, 20x deposit, 10x Bonus and deposit.
We don’t really care how it’s expressed, what we want is the dollar value of the action we need to give the casino in order to be able to cash out.
Next we need to know the “House Advantage” of the game you intend to play. Our house advantage article, linked above, lists the stats for some of the more popular games with bonus hunters.
Once we have these figures it’s time for some math!
Multiply the total wagering required by the house advantage. This is how much on average you will lose playing out the bonus. If this is less than the bonus amount, then the bonus has a positive expectation, and should be played. If the average loss is higher than the bonus amount, then walk away and find a new bonus! If you are just looking for entertainment value and are not worried so much about squeezing out profit, then this process can still give you an idea of games to play that will keep you playing longer before busting out. With any luck, playing longer gives you more chances to hit a jackpot or major score.
Here’s a quick example of calculating the bonus value by using the wagering requirement terms and conditions.
Bonus – 100% match up to $200
Wagering Requirement – 20x bonus
Game to Play – Blackjack (0.5% house advantage)
So our wagering requirement is 20 x $200, which is $4000
Our average loss will be 0.5% x $4000 which is $20
Bonus ($200), minus the average loss ($20) … means this bonus has an expected value of $180. We should be putting this one high on our list of casinos to play!
Get started on your own bonus calculating by finding a free chip that tickles your fancy from our no deposit casino bonuses list.