How do online casinos allow you to use £300 free? For example, http://www.1st-casinos.co.uk/go.php?id=435
Dont they lose a huge amount of money on this kind of promo from people that just sign up, use the free money and then never come back? What is the typical retention rate of an online poker room or roulette game?
2006-10-22 10:02:41 · 9 answers · asked by Anonymous in Games & Recreation ➔ Gambling
Casinos never lose money. Giving you that initial free cash is like a dope dealer giving a free sample to a druggie. They know that customer is coming back and paying the next time.
2006-10-22 10:06:01 · answer #1 · answered by Rich Z 7 · 0⤊ 1⤋
The way these bonuses work is that they offer you a bonus, but they have certain requirements to withdraw the bonus. For instance, they might offer a 100% bonus up to $300 with a 25X WR (wager requirement). This means if you deposit $300, then you will have $600 to play with. But you must wager a total of $15000 before you can withdraw. This seems like a lot, but it really isn't. You wouldn't wager the entire amount at once, but maybe in $10 increments. So, you need to place 1500 bets. Over this time, you will most likely lose money because of the house edge. The idea is that bad players will lose the bonus by the time they have completed the WR. The hope is that good players will enjoy the experience and keep playing.
This is not a fail-proof plan for the casinos. It is an overall good promotion for them because it does bring in a lot of business. However, there are people they call "bonus abusers" or "bonus hunters" who seek out good bonuses, deposit and clear the bonus using perfect strategy BJ for example, and then withdraw the profits.
The online casinos have to do this because of the amount of competition there is online. Land-based casinos have the advantage of geography to limit competition. Land-based casinos can also offer comps like rooms and meals. The only thing an online casino can offer is money.
2006-10-27 12:08:51 · answer #2 · answered by samoan3d 3 · 0⤊ 0⤋
It depends. If you do the best bonuses listed on a site like http://www.theultimatecasinoguide.com you can cost the casino a lot of money. But many casinos have very difficult to clear bonuses, so if you don't follow those reviews you won't really cause the casinos to lose money.
Most people don't follow those guides, so the casinos don't lose much even from the good bonuses. The number of players who deposit, clear a bonus and leave is pretty small.
2006-10-22 17:35:22 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Chances are that if you use the £300 and start gambling, you're going to lose much more than that amount. The odds are always stacked against you. That's why casinos, online or otherwise always earn tons of money. No casino has ever gone bankrupt. What does that tell you ?
2006-10-29 10:22:37 · answer #4 · answered by Toshihiro 3 · 0⤊ 0⤋
The reason they do this isn't because they enjoy playing Santa Claus with their customers - it's simply so that you'll join their site, play their games, and then carry on playing.
It's a competitive marketplace and the casinos will do everything they can to get you onboard and then keep you onboard. You can be assured that they know exactly how much the average player is worth to them.
Here's a cool piece of software you might find interesting...
http://www.playperfectblackjack.com
You can use it play perfect blackjack and clear out those bonuses :-)
2006-10-28 22:54:21 · answer #5 · answered by Anonymous · 0⤊ 0⤋
On average, the casinos will make more money if they give you some money to play with. The theory is that if you try it with their money, you will enjoy it and continue to play with your own. Some people do not, but a majority end of playing for a while and earning the casinos money. It's a basic advertising strategy that works well.
http://www.pineapple-poker.com
M.
2006-10-23 14:08:01 · answer #6 · answered by Madasia 2 · 0⤊ 0⤋
There are many legit sites that offer even 500 free,but you can't cash out.If you win on the free money You must deposit 50.00 and they will add only 200. that is max to your account you then have to play through 30 times deposit and bonus before you can cash out.that is 7500.00 before you can cash even Your 50. they don't lose anything ever.
2006-10-23 00:26:12 · answer #7 · answered by gwhiz1052 7 · 0⤊ 0⤋
The free money they give you is just a lure to get you to use your credit card. and once you start playing, that credit card sure is heading to the collection agency..... Unless you get lucky and win the jackpot....
2006-10-29 19:04:50 · answer #8 · answered by choo_hoo 3 · 0⤊ 0⤋
The site you mention has been banned by several banks, yahoo and google. They are full of viruses that crash your computer.
2006-10-22 18:43:47 · answer #9 · answered by bluezoneyaris 1 · 0⤊ 1⤋