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I dont understand how bonuses work

Discussion in 'Casino Complaints - Bonus Issues' started by Realitybitez, Nov 28, 2011.

Tags:
    Nov 28, 2011
  1. Realitybitez

    Realitybitez Experienced Member

    Occupation:
    Cati Interviewer
    Location:
    New Zealand
    :eek2: Anyhoo I played Crazy Vegas Casino free play and got through somehow and apparently I've won $200.

    I was told I would have to deposit $50 to get the $200 free chip. Well apparently its not a free chip as I have to wager it 30x.

    What does that mean exactly? Advice please :)

    And apologies if I have put this in the wrong section, still finding my way around the site :)
     
  2. Nov 28, 2011
  3. Nifty29

    Nifty29 Dormant account

    Occupation:
    PAID CASINO SHILL
    Location:
    Turn right, then right. then right again
    As they say, there's no such thing as a free lunch!

    It's still a good deal though.

    YOu deposit $50 get a $200 bonus, and you have to place bets totalling $6000 (30x$200) to be able to make a withdrawal.

    Remember to check the terms to see which games count and for any excluded games. In almost all cases, all slots count 100% and games like video poker count 10% (i.e. each $1 you wager only take .10c off the $6000 requirement, so if you wanted to play video poker only you would need to wager $60,000 to be able to withdraw)

    Hope that helps!
     
    3 people like this.
  4. Nov 28, 2011
  5. luarod

    luarod Experienced Member

    Occupation:
    just living
    Location:
    Madrid
    Hey Realitybitez!

    I can´t top Nifty´s explanation of how the bonus works. I just want to tell you again that it's really important to check the bonus terms and conditions, it may seem a drag but it's necessary to know where you stand.
     
    1 person likes this.
  6. Nov 28, 2011
  7. Rick Deckard

    Rick Deckard Experienced Member

    Occupation:
    IT
    Location:
    UK
    "$/£/€ 3000 Free Play Bonus

    Free Play bonus, which awards you with a grand total of $/£/€ 3,000 in absolutely free online casino money! That’s right, we’ll give you 3,000 bucks which you can go totally nuts with on our selection of hundreds of the very best online casino games available on the web today for a full sixty minutes. You can select this option as soon as you register, and you don’t even have to submit a deposit. The best part of this package deal is that whatever winnings you make using the Free Play award money is yours to keep."

    What this boldface statement might read if you had X-ray vision;

    The best part of this marketing deal is that whatever (bonus) winnings you make using the Free Play award is still ours (still belongs to the casino) and is yours to keep 'when' you have placed bets totalling $6000 (30x$200) to be able to make a withdrawal.

    Nifty said this is still a good deal and maybe it is. But the offer is worded ambiguously, almost deliberately intending to pull the wool over peoples eyes.
     
  8. Nov 28, 2011
  9. rockycatt

    rockycatt meistercatt CAG MM

    Occupation:
    carpenter
    Location:
    Boston
    has any one ever done the odds investagation it seams to me that it would be much easier to bust out than to make
    a 200$ profit and cash out from a straight up 50.00 deposite = take home $$

    if you will please illastrate [short form ] why im wrong here R C
     
  10. Nov 28, 2011
  11. Realitybitez

    Realitybitez Experienced Member

    Occupation:
    Cati Interviewer
    Location:
    New Zealand
    You have to make $6000.00 before you can cash out? Wow...

    And can you cash out that $6000 if you somehow managed to do that? mmmm Honestly, has anyone managed to do that? Make $6000 from what - $200? What happens if you dont? You loose your $50? Bit of a risk:what:

    :D


    :eek:
     
  12. Nov 28, 2011
  13. Realitybitez

    Realitybitez Experienced Member

    Occupation:
    Cati Interviewer
    Location:
    New Zealand
    lol

    I was thinking that myself.... make $6000 from $200? Is that possible on the slots:D? lol


     
  14. Nov 28, 2011
  15. Flyer187

    Flyer187 Senior Member PABnoaccred

    Location:
    England, UK
    You'd have to be very lucky lol - I would direct you to the wizardofodds website (just put wizardofodds into google)
     
  16. Nov 28, 2011
  17. Nifty29

    Nifty29 Dormant account

    Occupation:
    PAID CASINO SHILL
    Location:
    Turn right, then right. then right again
    You don't have to cash out $6000 minimum or anything. You can cash out as much as you like, or as little.

    Remember you only have to WAGER $6000, not WIN $6000. For instance, if you played 6000 spins @$1 and had a balance of $490, you could cssh that out.

    I'm not sure where the idea of winning $6000 came from...??
     
    2 people like this.
  18. Nov 28, 2011
  19. Mousey

    Mousey Ueber Meister Mouse CAG

    Occupation:
    Pencil Pusher
    Location:
    Up$hitCreek
    Mousey's gambling tip of the day:

    If you do not understand the T&C of a bonus, do not take that bonus.
     
    2 people like this.
  20. Nov 28, 2011
  21. BMWSTACK

    BMWSTACK Ueber Meister

    Occupation:
    Work
    Location:
    US
    I remember when rival had bonuses that had max win and you had to hit the max win to cashout. Those were typicall on a large percentage bonus. I miss the good old days with the complicated bonuses on Rival.
     
  22. Nov 29, 2011
  23. Rick Deckard

    Rick Deckard Experienced Member

    Occupation:
    IT
    Location:
    UK
    Found this RC. It gives BJ A=0.005 (0.5%) so Slots would be A=0.05 (5%) me thinks.

    An example of calculating EV
    As an example - a site has a bonus promotion offering a £30 bonus with a 100xWR and Blackjack can be used to complete the WR. This gives us:
    Wagering Requirement, W=£3000 (30x100)
    House Advantage, A=0.005 (very roughly assuming 0.5% for Blackjack, ie for every £100 you spend on BJ, on average the house takes 50p)

    Expected Value EV = B - W*A = £30 - £3000*0.005 = £15

    So over £3000 of wagering on Blackjack, all things being equal you can expect to lose £3000*0.005 = £15. This is the 'house take' or 'house advantage' - if you were not playing with a bonus you would simply lose £15 over £3000 of wagering. However because you are starting with a £30 bonus, after £3000 of wagering you will be left with £30 - £15 = £15. So the expected value of the bonus is £15.

    You must register/login in order to see the link.
     
    1 person likes this.
  24. Nov 29, 2011
  25. zap987

    zap987 Meister Member PABnononaccred2

    Occupation:
    .
    Location:
    Sweden
    You are comparing two different things though, if you deposit $50 and make a $200 profit you make $200, but in the bonus case here you can win any amount after completing wagering.
     
  26. Nov 29, 2011
  27. rockycatt

    rockycatt meistercatt CAG MM

    Occupation:
    carpenter
    Location:
    Boston
    i am trying to say that achieving a cash out may well be easier without a bonus if a person is looking at x times deposite and qualifying for min payout

    example i deposite 50.00 and run it up to 450.00 in a half hour maby only 3x rollover im cashing out

    what example will be a comparable, with a bonus , how much roll over must you do to cash out 450.00

    from a 20 x dep and bonus of 50.00 +50.00 and thats on the short end of most rtg casino =2000.00 before the ability to cash out

    if im missing something please chime in
     
  28. Nov 30, 2011
  29. kangamick

    kangamick Dormant account

    Location:
    Australia
    Sorry buddy, you missed the boat.

    It,s a bit like those deals when you book a cruise. Pay $2000 and you get $100 on board credit. Your price pays for the deal.

    Deposit $50 and if you get real lucky after $6000 wagering, you can withdraw some money but most likely you will lose the lot.

    You are so much better these days to deposit without a bonus at a reputable casino ie (32red) and hope for the best and if u hit a jackpot withdraw without any WR.

    Todays bonuses are designed for gaming addicts.
     
  30. Nov 30, 2011
  31. Realitybitez

    Realitybitez Experienced Member

    Occupation:
    Cati Interviewer
    Location:
    New Zealand
    oh.... hahahha

    Well heck I keep thinking if I was supposed to win $200 x 30 that would equal to $6000, therefore I would have to win $6000? Well that was my theory. I did mention, I had no 'idea' how bonuses worked :p

    I took the safe road and turned down the bonus. The odds just seemed to high :)

     
  32. Nov 30, 2011
  33. Realitybitez

    Realitybitez Experienced Member

    Occupation:
    Cati Interviewer
    Location:
    New Zealand
    I hear ya...

    Im forever getting offered bonuses but since I havent really cottoned on to how they work, I've always stuck with just straight deposits.

    However was the first time I'd actually won at one of those free play hour thingies so the temptation was great, but irrelevant now since I turned it down :)

     

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