A cashable casino bonus is, as the name implies, a bonus that can be cashed in. In other words, if you fulfill the wagering requirements of the bonus, you will be able to withdraw your winnings and the bonus amount. Wagering requirements are the conditions that are placed on the bonus. These dictate when you are able to make a withdrawal. Wagering requirements differ between casinos and between bonuses so it is important to read them carefully before you accept a bonus to make sure that its conditions are acceptable to you.
For example, if you deposit $100 and are awarded a 100% match deposit bonus, or $100 in bonus money, you will have $200 to play with. If the bonus has a 20 x play through requirement that means that you will not be able to withdraw any winnings until you have bet 20 x $100 = $2,000. Some wagering requirements may require you to play 20 x the bonus plus deposit. In this scenario that would be 20 x ($100+$100) = $4,000.
The best strategy when you come across a cashable casino bonus is to save the bonus amount for as long as you can. This means that it is best to play conservatively – bet small stakes with the smallest fluctuations in amount. There is far less chance of you losing money if you keep your bets small and you have an advantage.
Due to the best strategy for playing cashable bonuses, cashable bonuses are the most worthwhile for new online casino players or for players with small bankrolls. These bonuses help you to improve your game play with conservative play. Once you are more confident you can take advantages of some of the other types of bonuses, such as sticky bonuses, that require more aggressive playing.
In order to understand the expected gains of a cashable bonus, let us look at the bonus mathematics. The expected gain for this type of bonus can be expressed as Bonus – (average wagering * house edge (per unit wagered)).
We will discuss this example when using the bonus above ($100 and 20x bonus wagering requirement) in the game of blackjack. We can see that the average gain in this scenario would be $100 – (2000 * 0.45%) = $91.
Looking at it in a different way, the average loss for every dollar played in blackjack, using optimum strategy is $0.005. In the above example, the wagering requirement for our bonus is $2,000. This means that the expected loss can be calculated as
2,000 * $0.005 = $10. If a player has an average amount of luck, with his $100 investment, he should walk away with a profit of $100-$10=$90.
Playing with cashable bonuses can be quite lucrative if you follow a reasonable strategy. Depending on the software you are playing on and your experience you can play 300-1,100 deals per hour in the game of blackjack. If you play $5 on two spots per round that means that you will be betting $10 per played deal. Playing $2,000 on fast software for experienced playing will take around 15 minutes to play. If you divide the expected wins with the times used, which is around 2 hours including registration and game downloads, you are looking at a return of ($90/2) $45 every 15 minutes or $180 per hour. Not bad going.
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