Finding the value of a casino bonus is a necessary step when comparing offers from different casinos. Some promos will look great on the surface, but their actual value is much lower than advertised. Luckily, finding the value of casino bonuses is easy to do and I can teach you!
Keep reading to learn how to determine the value of any promotion from the best casinos on the web. I will tell you which variables to look for and the equation to use to find the true value of the bonus.
How to Calculate the Size Of Your Casino Bonus?
Finding the size of any casino bonus is easy as long as you know three factors. The variables you need to know are the following:
- How much money do you plan to deposit?
- What is the match percentage of the bonus?
- What is the maximum monetary value of the bonus?
The amount of money you plan to deposit will determine your overhead costs. The more you deposit, the bigger your bonus will be. However, it also increases your overhead and will make it more challenging to meet rollover requirements (more on that later).
You also need to know the bonus’s match percentage. This will help you determine how much bonus funds you are getting back from the offer. You multiply this figure by the amount you plan to deposit to determine your bonus amount.
Last but not least, you should consider the maximum value of the bonus. The maximum value tells you how much you can deposit, and any funds over the maximum will not qualify for the bonus promotion.
For example, you plan on depositing $1,000 (your deposit) to get a 300% (match percentage) deposit bonus of up to $2,500 (max value). Your deposit is big enough to get the highest possible amount of $2,500, so that’s how big your bonus will be.
Finding the size of a casino bonus is a surface-level calculation. To evaluate a promotional offer more accurately, you need to find the expected value of the casino bonus instead.
How To Calculate The Expected Value Of Casino Bonuses?
The expected value of a bonus gives a more accurate picture of its true value. To start, you need to define these variables:
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Total money that’s subject to wagering: In some cases, this is essentially the size of the bonus, as explained in the previous section. In others, it’s the size of the bonus + your deposits. The terms and conditions of the offer clarify whether you need to wager the bonus only or the bonus and your deposit, so make sure to check that before you start the calculations.
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Rollover requirements: the number of times you must wager your bonus funds before they become real money you can withdraw.
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House edge: the average house edge of games you intend to play when clearing the rollover requirements bonus.
I already taught you how to calculate the total bonus money, and finding the rollover requirements is also easy to do. This information is usually found in the terms and conditions of the bonus. You can use the rollover requirements to find the total amount you need to bet for the bonus.
- The total amount you need to wager = Rollover requirements multiplied by the bonus funds + your deposit (in most cases, could be bonus only).
Example: 15x rollover requirements for a $100 bonus = $1,500 total betting amount
Last but not least, you need to determine the average house edge for the casino games you want to play with your bonus funds. If the game does not say its house edge, you can find it by subtracting the game’s return to player from 100.
The RTP of a game tells you the average amount you can expect to win back when playing the game. For instance, a slot with a 96% RTP has a house edge of 4%. So, you will win back 96% of the money you wager and lose 4% of the funds you bet, on average.
Once you have defined all of these variables, you can find the expected value by using this equation.
- Total bonus funds – (total amount bet * average house edge)
In the example above: $100 – ($1,500 *4%) = $40
In this example, a promo offering $100 in bonus funds with a 15x rollover would have an EV of $40 if you played games with a 4% house edge. As a general rule of thumb, any bonus with a positive EV is a good offer.
However, most bonuses you can find online will come with a negative EV, meaning you are expected to lose money. It’s still better to play with a bonus, though, because your potential losses would be much greater without one.
Other Factors That Affect The Value Of Your Casino Bonus
Now that you know how to find the EV of a casino bonus, you can start using your new skill to find the best bonuses online.
Before you start crunching the numbers, though, there are other factors you should consider. Here are four more aspects of a bonus that can affect its true value.
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Most casinos will put an expiration date on your bonus funds. If you do not meet the rollover requirements for the bonus by that date, then you will lose them.
This is not usually an issue with bonuses that have low rollover requirements. However, short expiration dates could make it nearly impossible to meet high rollover requirements, especially if you deposited a lot of money, so make sure to check the terms and see if there’s an expiration date.
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You should also consider any game restrictions attached to the bonus funds. For example, some bonuses only allow you to use your funds on specific types of games, like real money slots. If the bonus is not eligible for the games you want to play, it may be better to choose a different offer.
Remember that the house edge of the games you play is a huge part of the equation. The lower it is, the better the value of your bonus.
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Many bonuses also have betting limits. These limitations tell you how much you can bet with your bonus funds every wager. You can use this information to determine how long it will take you to reach the bonus’s rollover requirements.
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Last but not least, you also need to make sure the payment methods you want to use are eligible for the bonus. Some bonuses have different minimum deposits for different payment methods, too. A bonus is likely not a good fit for you if you can’t use your preferred method to claim it.
Where to Find The Most Valuable Casino Bonuses Online?
Calculating the value of casino bonuses can help you find the right offers for your needs. Now that you know how to do it, I encourage you to visit our page with the best casino bonuses online. Explore them, calculate their true value, and go for it!
Once you learn this method, you can start shopping for the best bonuses to fit your needs. If you don’t have a bankroll for deposits, you should check out our list of the top no-deposit online casino bonuses first!
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