Casino Bonus Hunting — Low Risk Cash
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If you are looking for a way to make some quick money, casino bonus hunting can be an excellent option. The key to low risk bonus bagging is to manage your bet size so that it is appropriate to your bankroll. Put simply, bet small when you start out.
If you are not familiar with the concept — casino bonus hunting takes advantage of lucrative free cash offers from casinos. These offers require you to place a certain number of bets before you can cash out the free money. As long as the free cash is greater than the amount you give back to the casino during the wagering requirement then you will make a profit. The casinos actually want you to take their money – these bonuses are designed as loss-leaders and they hope to recoup their losses from future play.
The key is to avoid the mistakes that regular gamblers make.
– Don’t play slots as these have a high house edge. Play a low house edge game like blackjack.
– Stop playing when the bonus is withdrawable. Each extra bet you place is giving money back to the casino. The cash is yours now.
How does this work in practice?
Let’s take the current Gamebookers casino bonus as an example: deposit €100, receive €50 bonus then wager €1000 before cashing it out. The expected profit on blackjack is €45 but that doesn’t tell you anything about the risk.
By using the blackjack bonus simulator (at http://www.casibot.com), we can determine that the probability of making a loss with €1 bets is about 9%.
Gamebookers have tables as low as €0.1. Playing that low could raise suspicion with casino managers but a bet of €0.5 would be reasonable. So, what is the probability of making a loss now? By using the simulator we can see that the probability of making a loss is less than 3%. This is a very low risk offer.
The problem is that if you bet this low, it’s going to take forever to clear the bonus. Even at €1/hand you may be looking at 3 hours to clear the wagering requirement. At other casinos with larger wagering requirements you may be looking at over 30 hours of monotonous clicking to clear the bonus at £1/hand.
The first solution is to up your stakes. Let’s say you get bored grinding away at £1/hand for hours (who wouldn’t?) and want to finish the Gamebookers bonus in the next half an hour so you up your stakes to €5/hand. The bonus simulator now tells us that we have a 28% chance of making a loss and a 5% chance of losing our whole €100 deposit. Risking €100 for a €45 expected profit doesn’t sound like such a great offer.
The second, more popular, solution is to get an autoplayer or blackjack robot to do it for you. A few casinos do have autoplay on their blackjack tables (Intercasino, 32Red, Ladbrokes for example). It is usually not available on the lowest house edge games but it will get the job done. If the casino doesn’t have in built autoplay then you will need to use an external robot. This plays just like a human with the benefit that you don’t have to be at the PC while you are clearing the bonuses. The disadvantage is that it is going to cost you money upfront but in the long run you will recoup this many times over.
The cheapest and most popular blackjack robot is Casibot (http://www.casibot.com) which starts out at £40 for a single PC license blackjack bot with about £500 worth of bonuses supported (at the time of writing this article).
Once you have mastered blackjack bonuses and built up your bankroll then you may want to move onto their Video Poker bot where much greater returns are possible. This comes with a greater risk and is not suitable for beginners.
It is important to remember that bonus hunting is gambling. Even with the odds stacked heavily in your favour, it is still possible to lose money and you should not gamble with money that you can’t afford to lose. However, if you follow the tips here you should be able to greatly reduce your risk of making a loss.
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