How bonus bagging works?
If you’re looking for ways to make a profit that’s tax-free and comes with low risks then you’ve probably encountered the option of bonus bagging. This is why we’ve made this casino bonus bagging guide to explain to you what it is and how it works.
Basically casino bonus bagging is similar to the matched betting that you find in sports, only it works on casino and uses an advantage play technique to generate a profit from casino promotions. It’s like a game in which you want to get as much of the bonus amount as possible without breaching the terms and conditions.
Rules of thumb for casino bonus bagging
Years ago online casinos had super generous bonuses to convince players to sign up. The offers were so good and with such low wagering requirements that you didn’t really need any strategies to be able to get some profit out of them. But because many players abused the situation now it’s harder to take advantage of promotions and you will need a strategy.
Those that have been successfully bonus bagging are the ones that use a two-tier staking strategy. This means betting big in the beginning to reach the target then reducing the bet size until you reach the wagering requirements. The point is that the winnings need to outweigh the losses in the long run.
There are things you need to know before you jump in:
- Expected Value
- Terms and conditions
- Wagering requirements
- Bonus value
- Games you can play
- RTPs for the games you can play
- House edge
If you know these things and really have a chance of beating the system, then go right ahead and put the plan in motion. Make a small deposit, claim the bonus, play the game with the highest RTP and tiniest house edge, go through the requirements using the two-tier plan, and withdraw your winnings.
Let’s say you find a casino that has a 50x wagering requirement on a 100% up to £200 welcome bonus. You can only use the bonus to play slots, keno and scratch cards.
This means that on a £200 bonus, a total of £10,000 must be rolled over for you to be able to make a withdrawal. But this counts for the games above, you can also play table games but they have bigger wagering requirements since they only count for 8% instead of 100%. table games have a lower house edge, but instead of rolling over £10.000 you will need to play-through £125.000.
Slots have a high house edge somewhere around let’s say 5%, while table games have a low one of about 0.5%, but when you calculate the house edge against the sum you’d need to roll over you’ll see that playing slots might lead to a £500 expected loss, while playing table games might get you a £625 expected loss. So, from a mathematical point of view playing slots is the better choice. Given that they have a high RTP of course.
Read the terms and conditions
The terms & conditions of a promotion will have important information:
- What casino games you are allowed to play
- How much money you need to wager before you can make a withdrawl
- How much a game counts towards reaching the wagering requirements
- The minimum and maximum stake you can make in a bet
Not only this but other key elements such as how to claim it, what makes you eligible or illegible to claim it, when it expires and more. Before you can try to beat the system you need to know exactly how it works, so skipping the terms and conditions is a must every single time. Otherwise, you have no chances of winning.
Always play safe
Most casinos nowadays reserve the right to kick out any player that they think is abusing bonuses. Bonus bagging isn’t technically an abuse if you don’t take it too far and try something illegal. If you follow the terms and conditions you should be fair, legal, right, a winner and also be able to withdraw your winnings. Remember to play responsibly and you should be just fine.