Online Casino compliance is also called risk assessment. The job responsibility is similar to many ecommerce website.
Basically its to checking Bonus hunting, bonus whoring, casino whoring, bonus abusing. All of these terms describe the activity of players who try to make money in the long run by using bonuses offered by online casinos. And many of them were and are still successful, although this practice is getting harder and harder to pull off as time goes by.
Are you curious how casino bonus hunting works and whether you can use it to make money in online casinos in today’s environment? You’re in the right place to find that out.
Most Small Online Casino Company doesn’t have this department existed because they don’t really know how to do it. or Many business owners never worry about compliance issue. They thought their team is able to detect or sustain the risk or issue.
Keep study our website and learn:
- Why used bonus hunting to be such an easy way to make money in casinos in the past?
- What changed and make it much harder to use in real life?
- How to overcome the limitations and use bonus hunting successfully even today?
- What’s the best bet size to use when playing with bonus money? With computer simulations.
- And most importantly… Can you do it, too?
Bonus hunting in the past
In the past, bonus hunting was relatively easy, because online casinos’ bonuses were big, had low wagering requirements and no restrictions on allowed games. That meant that players could just use the bonuses and rely on their positive expected values to make a profit in the long run.
EXAMPLE
Let’s say a player got a $200 bonus with WR of 25x. He is trying to meet the WR by playing a slot game with RTP of 98 %. Therefore, the casino has a 2 % edge, which means that the player statistically loses 2 % of every bet he makes. The expected value of a bonus in this case is $200 * (100 % – 25 * 2 %) = $100.
That’s pretty much how it used to work. Unfortunately, bonuses like this are a thing of the past.
Bonus hunting nowadays
Nowadays it’s completely different. Casinos have improved their calculations and generally don’t offer bonuses that can be cleared with profit with such ease. However, that doesn’t mean that players can’t still use casino bonuses to make money. It’s much more complicated though.
If you’re wondering how to make money gambling online, the method I’m about to describe might present a good answer. However, keep in mind that it’s definitely not for everybody.
Bonus hunting nowadays is based on high volatility and requires a big bankroll, willingness to spend a lot of time and strong nerves to overcome losing streaks that are unavoidable with this kind of a strategy.
It works something like this:
- Make a deposit and get a bonus.
- Start playing very aggressively. Choose a slot with high variance and play until you hit a big win or lose everything.
- If you lose everything, you have to move on and get a bonus at a different casino. But if you win, you should have a big enough buffer that should allow you to comfortably meet the WR of your bonus and cash out.
You have to repeat this strategy numerous times in order to be profitable. Of course, you can be lucky the first time, however, you can also be unlucky and still be losing money after 100 tries. For the 96 % RTP slot I used in my simulations, the probability of being in the reds after 100 bonuses is still a bit over 30 %. After 500 bonuses, it drops to 7,5 %. So, even after 500 bonuses, there is still a chance to be in red numbers. Although, that doesn’t change the fact that this strategy is profitable in the long run.
No deposit bonuses and freebies
However, there are still bonuses that can easily be cleared with profit, even in the current state of online gambling market. No deposit bonuses and freebies can be used to make money, albeit very little of it. They don’t cost you anything and you can get a few bucks out of them.
This was a short summary of the entire article about bonus hunting. I wanted you to have a basic overview of the topic before getting started with the detailed information and instructions supported by simulations you can find below. Enjoy!
- Former bonus whoring based on positive expected value
- Freebies and no deposit bonuses
- Bonus hunting nowadays based on high volatility
If you want to know more, please refer part 2
