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...money to players for things like signing on to their site, continuing to play on their site, or finding new players for their site. However, how does it work? How can these sites afford to give away free money?
How Online Casino Bonuses Work
The sites can afford to give away that money because they know that in most cases they will get it back many times over. Each game at the online casino has a house edge. This edge, represented by a percentage, tells you how much a player can expect to lose over time. For example if a game has a house edge of five percent, a player can expect to lose $5 out of every $100 played. This is a long term average, not an exact accounting, but it holds true. This means that if the casino offers a $50 bonus, they should break even after $1,000 is played in a five percent house edge game.
If you choose to play Video Poker, however, the house often has a very small edge and sometimes no edge at all. But if you want to receive positive expectation on a Video Poker bonus, you must deploy the best strategy.
How Can Online Casinos Ensure They Make Their Money Back?
They can’t always. However, the online casino has a wagering requirement. This means that before the bonus money is released into your account, you must wager a certain amount. The casino can require that you wager, for example, 20 times the amount of your bonus before gaining access to the bonus. In a five percent edge game, this means that they can expect to break even whether or not the player withdraws immediately after clearing the bonus.
What Can The Player Do to Beat the Online Casino Using their Online Bonus?
Try to find games with as low a house edge as possible. If you can find a good bonus with a reasonable wagering requirement and a low house edge, you have a better chance of using your bonus to walk away a winner.
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