Casino bonuses have been hunted for a long time. The bonus hunting movement emerged when online casino pioneers started offering bonuses. Operators have allowed to hunt successfully for years, but now these times are gone. Low wagering requirements and no restrictions on games cannot be returned, so casino hunters are not so active today.
What is casino bonus hunting?
It is when a player registers on the website with the aim to receive a bonus and then withdraw it and quit if there are no more beneficial offers in the casino.
How efficient is bonus hunting?
Not so much that everyone was using it. At least this is the case now, after casinos started putting spokes in the wheels of bonus hunters. You need a lot of money and patience to make money on this. If you just want to play at the casino, you better not think about it.
However, if you are ready to wait, keep counting, lose numerous deposits and keep believing in a positive outcome, then you are welcome. This is a kind of long-term investment that can generate income.
How do bonus hunters act?
They make a deposit, get a bonus and try to wager it. However, not any bonus suits them. The following formula is used to determine whether the bonus is suitable or not: 100% – (wager x house edge). If the resulting value is positive, then the bonus is potentially profitable. Negative value means that the bonus is not worth taking.
In the formula, 100% means the full bonus amount – for example, $100, $200, etc. By multiplying the wager by the house edge, you get the percentage of money that you theoretically lose by wagering the bonus.
Assume the wager is 30x, and you are playing a slot with 98% RTP. In this case, 100% – (30 x 2%) = 40%. This means that 40% of your bonus will remain after wagering on average.
This will not necessarily apply every time you receive a bonus with these characteristics. However, if you get and wager the same bonus hundreds of times, then you will earn in the long run. For this, the bonus hunter will need to make hundreds of deposits and get hundreds of bonuses.
The wagering requirements were much simpler before, but today it is not so easy for players to cash it out. On average, the wager is 35-40x of the deposit amount. In addition, there are restrictions on games, as well as different contribution for different games.
Contribution is the percentage of the bet amount that counts as wagering. For example, blackjack usually gives no more than 5% contribution. This means that when the bonus hunter bets $5 per game, only $0.25 ($5×5%) counts as wagering. At the same time, slots usually give 100% contribution. This means that the entire $5 bet counts.
Bonus hunting can generate income under certain circumstances, but this activity is not for everyone. The matter is that the return to the casino is theoretical, but your personal return from the game in practice can be much less or more – it all depends on luck. This is why you need to wait for a long time, have a decent capital for this and select bonuses wisely.