We all prefer a no deposit bonus than any other type of casino bonus money available. These can be turned into real cash if you know how and believe us, there’s much more to playing with bonus funds than just claiming the promo and playing the games.
An experienced player knows how to recognise a favourable bonus promotion and has a whole strategy built around which casino games to play in order to maximise their chances in making a withdrawal.
In this article I will try to show you in simple terms how to use your casino bonus effectively and make a withdrawal.
How do Online Casino Bonuses Work?
So, you decided to make a deposit and get your hands on some of the top casino bonuses.
Let’s work through this example. You deposit funds and now have $50 to play. Is it enough to play with this or do you need to claim the casino bonus too?
The promotion is a 100% match deposit bonus with 40 times the bonus amount of the wagering requirements. So if you make a £50 deposit you will get another £50 to play with, but you will have to turnover £2,000 before you can make a withdrawal.
So, do you take the bonus or play with cash only? Here are a few factors you need to consider and do a little research about the current promo.
Expected Return of Casino Bonuses
With £50 you will have enough money to try 1 or 2 games on £0.50 bets. You can hit a bonus round and maybe make a £50 profit pretty fast.
If you’re ambitions are simply to double your deposit and withdraw you should definitely play with cash only. A lot of times it’s better to make small frequent withdrawals than go for a big payout. If you can double your £50 deposit in 10 casinos that’s £500 of pure wins.
Is the Casino Bonus Tied to Your Deposit?
This is something not too many players know or pay attention to. At many online casinos the cash balance is played first. You start playing with your bonus money only once the cash is depleted.
So, if you make a £50 deposit and got a £50 bonus you play with your deposit first. If you win from your £50 deposit you can cancel your bonus and withdraw your cash winnings.
So, you started playing and went up to £200 without touching your £50 in bonus money. You can cancel your bonus and withdraw £150 in total, which is a £100 pure profit.
Wagering Requirements of Your Casino Bonus
At first look, having to wager £2,000 for £50 of bonus money seems high. But in reality this can be easily done if you have some luck and know what you’re doing.
Always go for the bonus promo which has a lower wagering requirement. In the past you could easily find bonus promos with a 20-25 times the bonus amount wager, but today the wagers range from 35 to 50 times the bonus amount.
Advanced Strategies to Wager Casino Bonuses
There are many strategies which players use nowadays when it comes to wagering bonuses. It all depends on how high your starting bankroll is and what are your ambitions.
Some players make big deposits and claim big online casino bonuses, but aim to withdraw about 80% of their initial bankroll. So, for example you made a £200 deposit and claimed £200 in bonus money. Your goal is to withdraw at least £300-£350 so you have a small profit.
There are two possible approaches. Both ways are aimed at low variance slots, if you’re an online slots player.
- You can play low variance slots on very small bets, £0.20-£0.40. This way you will have the biggest chances in wagering your bonus and keeping most of your balance. But this will take a long gaming session and not many players have that patience.
- The other way is to go on high bets on low variance games. So with a £400 balance you play £2 to £4 bets per spin. With these bets the wagering will go much faster and you can even significantly increase your balance. Many players think that there’s no way to hit a big payout on these games with enough balance for only 100+ spins. But in reality this happens more often than you think. Even a low variance slot can hit a payout of 100 times the total bet, so on a £4 bet that’s £400. Hit this payout on a few slots and you can easily meet the wager and make a bigger withdrawal.
The variance does dictate the payout rate of the slot, but the RNG counters it and many times you can hit a big payout early on.
For example we have hit a 1,000 times the total stake payout on Immortal Romance from Microgaming several times in the first 100 spins and probably thousands of smaller 100 to 200 times the total stake payouts. Imagine hitting that payout on a $4 bet.
That’s a £4,000 win from the start. With such a big payout you instantly have enough buffer money to wager the bonus. After a big payout you instantly move on to low variance slots and play medium to high bets. You will lose maybe 20%-30% of your bankroll if the wagering requirement is big, but even so you will still make a big withdrawal.
Repeat this strategy at 10 casinos and all you need is for it to work in one in order to break even. If you’re lucky enough to win at 2 or 3 casinos, you can take the next month off and enjoy spending your winnings.