How to Calculate the True Value of Your Casino Bonus
The true value of a casino bonus shows you if an offer is truly profitable. In our expert guide, we explain how to simply calculate and spot the bonuses that truly help you win.
- Understanding the true value of an online casino bonus
- Factors that Affect the True Value of Bonus
- Calculating the true value of an online casino bonus
- Tools and Resources for Bonus Calculation
Understanding the true value of an online casino bonus
An online casino promotion provides a specific amount of casino money or free rounds you can use within the online casino to achieve winnings.
The true value of an online casino promotion is determined by its terms and conditions, which depend on the type of offer you select.
The main online casino promotion types are:
- No deposit bonus money: provide funds for you to play without you having to make a payment.
- No deposit free spins: offer free rounds after you register with the casino site.
- Match deposit offers give you a specific amount of funds, according to the deposit you make.
- Welcome packages can provide promotional funds or deposit spins on your first payment at the casino or for the first two to six deposits.
- Cashbacks return a part of your losses or wagers over a specific period of time in which you played at the casino.
By calculating the true value of an online casino offer with the help of its terms, you can avoid less profitable offers used solely to attract players to join a gambling site.
Bonus terms and conditions
The terms and conditions that most often affect the true bonus value include:
- Time limits
- Game restrictions
- Wagering requirements
- Maximum cashout
For example, you may think that a 200% match deposit offer is profitable. After all, if you deposit $30 to claim it, you receive $60 in funds and can play with $90.
But if the wagering requirements for this offer are 70x bonus amount, you will have to wager $60x 70, which is $4200.
And if the offer is restricted to a slot game with a 94% RTP, your chances of getting a good payout and not losing it while fulfilling the high wagering requirements become considerably lower.
The bonus amount represents the total funds you receive after claiming the promotion. This is not the same as the true bonus value, but it has a huge impact on it.
For example, let’s say you have a 100% match deposit offer and your deposit is $5. So, your bonus amount is $5x 100% = $500.
When you calculate the bonus value if you know the amount and the promotional terms and conditions, you should:
- Determine the bonus amount
- Check the wagering requirements
- Be aware of game restrictions
- Check the maximum cash out
If the bonus value is more than the estimated losses of your using the offer on the eligible games and completing the wagering requirements, then you found a profitable offer.
Factors that Affect the True Value of Bonus
Let’s see how other factors like playthrough, game contributions and RTP, and the promotion’s validity can determine the true value of a promotion:
Wagering requirements and game contribution
Wagering requirements are conditions that online casinos impose on the sum you must bet when playing with your bonus. Game contribution conditions tell you how much of the wagering requirements are fulfilled each time you bet on a specific game using your offer.
A 100% bonus up to $100 with a 20x wagering requirement means a player must wager $2000 before they can withdraw any winnings.
Let’s say that, for this offer, slots contribute 100%, while live dealer games contribute only 10%:
- If you choose to play your bonus on live casino games, you will have to wager 10 times more ($20000) than you would if you chose to play slots.
- This lowers your chances of cashing out winnings, so the true bonus value drops.
Game contribution can sometimes be different for each title, but it usually varies among game types. In general:
- Most slots contribute 100% to bonus wagering;
- Many live casino games contribute 10%;
- Table games, keno, or bingo can contribute anywhere between 0% and 5%.
Be aware: always check the game contribution in the promotional terms of the bonus or on the online casino website.
Game selection and RTP
With casino bonuses that can be applied to multiple games on a website, the bonus value will be largely determined by the available titles and their RTPs (return to player rates).
Because the RTP determines your winning chances, it affects the true bonus value of the offer you are playing with.
Let’s say you choose to play a bonus of $100 and 20x wagering on a slot game with a 95% RTP.
This means that, in the long run, the amount you are likely to get from this bonus is the result of how much you wager multiplied by the payout rate of the game you play ($100x 20x 0.95 = $1900).
Some high RTPs games that can improve your bonus value are:
- Goblin’s Cave: a 99.3% RTP helps deal with high wagering requirements that decrease your bonus value. Play with small bets, so you prolong your session and increase your odds.
- Ugga Buuga: a 99.1% RTP, which helps increase the bonus value, as you can find it on most online casinos. Combine it with other high payout games.
- Mega Joker Jackpot: an RTP of 99% that applies to a lot bonuses because it is a highly popular NetEnt title.
- Blackjack: typically has an RTP of 99%. Use it to increase the value of a bonus when you have high wagering requirements.
Bonus expiry and time limits
The expiry date and time limits of a promotion restrict the time you have to meet the wagering requirements and use the bonus funds.
Here’s how this can lead to losses and drop the true value of a bonus:
- The shorter the expiry date, the less likely you are to use the funds or complete the rollover on time. When this happens, you lose your promotion and winnings. A promotion with such a short expiry date has a low value because you won’t be able to take full advantage of it.
- When the time limits imposed in the terms and conditions are very short and rollover is high, the bonus value decreases. This is because you are pressured to use the funds and meet the requirements quickly, which affects your ability to maximize the value of the bonus.
Our experts put together a few tips on how to use a promotion before it expires:
- Once you understand the time limits, plan ahead and set a target for how much you need to wager each day to meet the requirements before the deadline.
- Choose high RTP games that contribute 100% towards meeting the wagering requirements.
- If you have a reward with a short expiry date, prioritize using the promotional funds over playing other games. This will help you meet the requirements quickly.
- Regularly check your progress towards meeting the wagering requirements to ensure you’re on track to use the promotion before it expires. This will help you adjust your gameplay if necessary.
Casino loyalty programs
You can earn VIP points by playing casino games with real money wagers. The more you wager, the more points you earn.
You can use loyalty points to claim specific reload and loyalty promotions with high bonus value:
- After you accumulate a certain number of loyalty points, you have access to exclusive free spins, cashback offers, exclusive rewards, and more.
- By continuing to earn points, you will reach higher loyalty tiers where bonuses have higher values.
Be aware that loyalty points come with terms and conditions like expiry dates, minimum point requirements, and restrictions on which games can be played with these rewards. All these terms may affect the value of your promotions.
Calculating the true value of an online casino bonus
A simple calculation of the true value of an online casino bonus is:
- Identify the bonus amount
- Multiply this amount by the wagering requirements to identify the total sum you must wager
- Identify the RTP of the game on which you will play your promotion
- Identify your estimated winnings by multiplying the RTP by the total sum you must wager
- Identify your probable losses. You can do so by subtracting from the total sum you must wager, you estimated winnings.
- Use the following formula: bonus amount – probable losses.
Here’s how to calculate the bonus value for a no deposit bonus.
Let’s take the $10 no deposit bonus on Mechanical Clover at Izzi Casino, with a wagering requirement of 30 times the bonus amount:
- The bonus amount is $10
- The total sum you must wager is 30x $10 =$300
- The RTP of Mechanical Clover is 95.42%
- Estimated winnings are: 95.42% x $300 = $286.26
- Your probable losses are: $300 – $286.26 = $13.74
- The bonus value is $10 – $13.74, which means that this bonus is unlikely to yield positive results over long wagering.
Here’s how to calculate the bonus value for a free spins offer.
Let’s take the 20 free spins no deposit at Wheelz Casino, with a spin value of $0.10 each and a wagering of 35x winnings wagering requirement for any game. Let’s say we pick the Ugga Bugga slot, which has an RTP of 99.07%.
- The bonus amount is: spins value x number of spins = $0.10x 20 = $2
- The total sum you must wager is 30x winnings =$30 x (bonus amount x RTP) = $30 x $2 x 99.07% = $59.44
- Estimated winnings are: 99.07% x $59.44 = $58.89
- Your probable losses are: $59.44 – $58.89 = $0.55
- The bonus value is $2 – $0.55 = $1.45, which means that this bonus will likely bring you profit.
Tools and Resources for Bonus Calculation
Our team recommends a couple of tools and resources to help you calculate the true value of a reward:
If our formula is too complicated, you can check reputable gambling forums or other platforms such as Reddit and Quora to find another one.
Or, you can describe the offer on one of these platforms and ask for the assistance of fellow gamblers.
Casino reviews by reputable affiliate websites can help you easily determine the value of a promotion by providing the following resources:
- A break down of the offer and/or casino T&Cs in simple terms;
- A review of the security and reputation of the casino offering the bonus;
- Detailed comparisons that include the true bonus value.
To sum up, you are now able to:
- Understand what determines the true value of an offer, besides the flashy maximum amount written in the promotional title;
- Be aware of the terms and other factors that influence the value of your offer;
- Calculate any bonus value based on its terms;
- Tackle any issues may appear with the help of our resources.
Most importantly, you can now pick the promotion with the highest value, that fits your standards and needs!