Online gambling websites provide incentives to potential sign-ups as a way to get more people to spend money. Several years ago, when online casino was still an emerging concept, gambling establishment offered far more opportunities to new customers than they do today, and some of the more determined players pursued these bonuses and earned a lot of money. With some effort and skill, even you can find ways of making some money on the side, while still enjoying playing your favorite games online.
What is Bonus Hunting?
Bonus hunting describes the activity of exploiting these incentives – which usually require some small financial investment to gain access to high bonuses and discounts. The term “bonus hunting” was coined years ago, at the time when online casinos started to offer discounts and bonuses to attract players. For those who may not be familiar with online gambling, the majority of gambling websites offer sign-up bonuses because of the competitive nature of the casino industry; and they tend to be an important part of each company’s marketing strategy.
The plan is usually to sign up to a website as a new player, take advantage of the bonus, play a few games, and then withdraw the profits and try your luck elsewhere. This used to be much easier a few years back as these websites were much more generous then, and most players easily met the standard requirements to access bonuses. Today, the terms and conditions have become stricter, and there are fewer opportunities for guaranteed bonus winnings. However, this doesn’t mean you won’t find people trying their luck.
Common casino bonuses include:
- A welcome package that may be spread out on several deposits
- Free betting cash, used to play on specific games
- Matching your first deposit by 50-200%, up to a specific limit
- Cash refunds
- Free games and spins in the mega reel
Making Money from Online Casinos:
From the pointy of view of the casino owners, the purpose of bonus hunting is pretty clear: to attract new players to their website so they can spend money. But in order for the bonuses to have any benefit to the website, these players must keep betting real money on their favorite games. Bonus hunters don’t play by the rules; after making the minimum deposit and playing the mandatory wagers, these players convert any discounts or points into cash and withdraw everything.
This is different than when players sign up to have fun and win cash where possible. Casino owners are constantly monitoring activity that suggests an individual is bonus–hunting and will put up all kinds of obstacles to make it difficult to run off with the casino’s money. Most commonly, they will make sure the bonus is not initially cashable, introduce limits on withdrawals, bets, and so on. But no matter how tough these restrictions are, it is always possible to make money this way.
Strategies for Bonus Hunting:
Bonus hunters tend to have their own strategies for winning, but even so, you will find the following methods can be applied by any player when they sign up to popular gambling websites. Here are four strategies for making the most from casino bonuses:
- Play a variety of games and take out your winnings gradually over a period of time. This way, you won’t attract attention from the website supervisors.
- Use some of your own money when you can, and spare some of your bonus privileges, so that the website owners get the idea that you signed up to play for a long time, and not to withdraw a rich bonus.
- Do not use the same gambling strategy every single time. Switch it up every now and then, to make it harder for the administrators (or their software) to profile you.
- Calculate expected value (EV) and stick with casinos with a lower house edge. This will increase winnings and allow you to wager with less.
What Are Wagering Requirements?
Every casino you visit will have a bunch of conditions that players must meet before they can withdraw their bonus-related winnings. Keep in mind that all bonuses come with their own wagering requirements which must be met; and the punter must fulfill the requirements before they can access any cash associated with the bonus. So essentially, a wagering requirement is a multiplier that tells you how many times you must play through the bonus so that you can withdraw the winnings. Any winnings you get while playing the wagering requirements will be stored as pending balance until you clear the waging requirement.
Bonuses can be exploited in different ways, depending on the policies and limitations. Online casinos always have the overall edge, meaning to some degree, casinos are willing to let people play this bonus hunting game because bonuses are great for incentivizing new players. At the end of the day, the odds shift back in their favor. So, if you don’t mind moving around these gambling sites, the bonus will provide better opportunity to get a decent return on your initial bet.