5 Tips For Making A Profit Using Free Casino Bonuses
Even though no deposit bonuses give you the chance to win real money, in most cases your chances are quite low.
It is vital you therefore take every small advantage you can get.
When compounded, our 5 steps can increase your chances of winning significantly.
Here they are:
#1. Find Free Bonuses With Low Wagering Requirements
A quick way to discriminate between free bonuses is by focusing on the wagering requirements.
All no deposit bonuses come with this rule. Its function is to discourage bonus abuse by making you wager your bonus’ value a number of times before you can win real cash.
Here’s an example that ought to provide you with more clarity:
Example
Say you are given the opportunity to claim one of two bonuses:
- Bonus A is worth $20 and must be played through 20 times.
- Bonus B is worth $50 and has to be played through 60 times.
Whereas many players will look at the bonus value, the real value is in the wagering requirements.
So while Bonus A is only worth $20, you only have to wager ($20 x 20) $400 before you are able to cash out.
Bonus B, on the other hand, is worth $50, but you have to wager ($50 x 60) $3,000 before you are able to cashout.
I don’t think we have to explain why Bonus A is more likely to yield a profit than Bonus B.
In most cases, your chances of making a profit with a free bonus are proportional to the wagering requirements.
From our example, it’s clear that the wagering requirements have a huge effect on your chances.
Bonuses with wagering requirements between 10 and 40 times present a good opportunity.
Click here for no wagering casinos.
#2. Find Bonuses Eligible On A Favorable Slot
You should also think about the game that can be played with your bonus.
You want to be able to use your bonus on a slot machine with high return to player percentage and a low volatility rating.
This is why:
- High Return To Player (RTP) – A slot’s RTP gives an indication of its odds. If a slot has a RTP of 97%, it will return 97% of the total money staked on the slot back to players of the slot. Yet it needs to be remembered that RTP is measured over a countless number of wagers. Thus it is only an accurate measurement when you are playing a slot over the very long-term.
- Low Volatility – Volatility is like another word for “risk.” For example, if you bet on a slot with a high volatility, it’s likely that you’ll lose. Volatility gives you a good idea of how your gambling session will go in the short term. Slots that are highly volatile provide fewer wins, though each win might be worth a lot. Low volatility slots, on the other hand, provide more wins that are worth less money.
When paired together, low volatility and high RTP essentially optimize your game play over the short term and the long term.
In the short term you will maintain a positive bonus balance. In the long term you have the best chances of making a profit.
Expert Advice: DON’T Use Free Bonuses On Table Games!
Unfortunately, casinos know that table games have really good odds.
Most of the time they will say you can’t use your free bonus on table games because of how good the odds are. Yet some casinos seem to be quite happy for you to use your free bonus on table games.
Please beware that NO casino will let you play table games with a no deposit bonus unless they have in some way re-balanced the odds in their favor.
Most casinos do this by changing the game weighting percentages of table games to between 0 and 25%.
So, if your casino changes the game weighting percentage of blackjack to, say, 4%, only 4% of your wager on blackjack will go towards the wagering requirements.
If you were then to wager a sum total of $100 on blackjack, only $4 would actually count.
In the end, it makes it almost impossible to win real money on blackjack with a no deposit bonus.
#3: Figure Out The Expected Value
Another approach you can take to discover whether a bonus might be profitable is by working out its Expected Value (EV).
To work out a no deposit bonus EV you have to assemble the following variables into an equation:
- The amount you win using your free spins or the amount of credits you receive.
- How many times you have to wager your bonus before you can withdraw.
- The house-edge of the eligible game/game you intend to play.
Once you’ve collected these, you them place them into the following equation:
Bonus Value – Wagering Requirements x House Edge = EV
If the EV is negative you are likely to make a loss. If the EV is positive it is likely to make a profit.
We will provide you with an example below:
Example
Say you are going to claim a bonus with these variables:
- Bonus Credits – $10
- Wagering Requirements – 25x
- House Edge – 3%
Our equation would then look like this:
Bonus Value (10) – Wagering Requirements (10 x 25 = 250) x House Edge (0.03) = EV (-7.2)
Since the EV of this bonus is negative, it is unlikely to yield a profit.
#4: Wager Your Bonus Immediately
This is a pretty simple way to improve your chances of winning.
No deposit bonuses have an expiry date. You have to meet the wagering requirements before that expiry date to withdraw your winnings.
No deposit bonuses last for a notoriously short length of time, so you should wager it all consistently if you are to win.
#5: Remember You Can Get Multiple No Deposit Bonuses
The more you try, the more likely you’ll win eventually.
Please remember that you can’t claim the same no deposit bonus more than once.
Nor can you claim two bonuses at one casino.
But you can use our list of no deposit bonuses to find 100’s of casinos currently giving away no deposit bonuses to new players.
Expert Advice: Have You Heard Of Exclusive Bonuses?
Exclusive bonuses are like regular bonuses, except better.
We work closely with online casinos we like to design bonuses exclusive to our visitors.
With these bonuses, you’ll get bonus rules that are especially reasonable and higher bonus values.
For more information, please go to our Exclusive No Deposit Bonuses page.