Hi.
I regularly take advantage of gambling bonuses, mostly bingo, and mostly first deposit offers. The way it works could be something like: deposit and spend £10, play with an extra £30 bonus. The bonus can never be cashed out - it's for wagering purposes only. The bonus amount (and sometimes also the deposit amount) will have to be 'played through', which means that amount will have to be wagered X amount of times. 3X is the standard, with 2X being generous and 4X being unacceptable. So you would bet £10, receive a £30 bonus, then play the bonus until either you lose it all or you spend £90 and cash out whatever might be left. This explains where I am coming from, and hasn't got a lot to do with my actual question, which is this:
If I were to deposit £10 on a bingo site, and they gave me a £10 bonus which I could spend on any games in order to release a £10 bonus with a 1X playthrough (which would be wagered on an even money roulette bet ), what would be the best strategy IF the bingo site forgot to restrict the bonus to wagering only, and instead put it into your withdrawable cash balance? A £10 bet which wins at even odds on roulette should result in £20 cash balance but it's now £30, so you withdraw that amount. But what if you lose? You have bet £10 so have released the bonus, so you have £10 loss and £10 back, which you can now cash out - because it's not a bonus due to some sort of impossible glitch. So you break even. Is there a better way to do this? I'm thinking that instead of one £10 bet, make 10x £1 bets, which, on average, would net just under £5.
So there is a way to more or less guarantee a profit, and to definitely guarantee no losses, but I'm more interested in what's the MOST profitable way to play the £10 deposit and bonus funds? My overall strategy when taking up similar offers is to always choose bingo sites which also have roulette, which means I will roughly break even on my deposits (actually lose a small amount over time due to the zero). So I will, on average, win one, lose one, and (hopefully) make a profit from the bonuses. In the above scenario, might it be better to bet the whole of the initial £10 deposit, and if it loses, again bet the £10 bonus on an even money chance, for a possible cash-out of £20? What if this could be done multiple times? Would that make a difference? The aim is to win, obviously, and it's also obvious that 2x £10 bets each time could lose a lot of money in the short term.
Without doing any maths I'm compelled to think that risky bets should make more money than non-risky bets, so 2x possibly losing £10 bets (versus 10x £1 bets with guaranteed cash out of between £10-£20) should have potentially higher returns in the long term. Which, I suppose, leads to how much risk I would be willing to take. As above, I would, in theory, and do in actuality, make infinite £10 bets with my deposits in order to make a potential profit from the bonuses, so the deposits are effectively risk-free (long-term), as I would win back almost half of them. And again, without doing any maths, I know that losses when zero hits are outweighed by what can be won with bonus funds, though I can't come close to having even a clue as to how much by. Sorry for sounding a bit thick but ageing hasn't helped my maths ability one little bit.
I regularly take advantage of gambling bonuses, mostly bingo, and mostly first deposit offers. The way it works could be something like: deposit and spend £10, play with an extra £30 bonus. The bonus can never be cashed out - it's for wagering purposes only. The bonus amount (and sometimes also the deposit amount) will have to be 'played through', which means that amount will have to be wagered X amount of times. 3X is the standard, with 2X being generous and 4X being unacceptable. So you would bet £10, receive a £30 bonus, then play the bonus until either you lose it all or you spend £90 and cash out whatever might be left. This explains where I am coming from, and hasn't got a lot to do with my actual question, which is this:
If I were to deposit £10 on a bingo site, and they gave me a £10 bonus which I could spend on any games in order to release a £10 bonus with a 1X playthrough (which would be wagered on an even money roulette bet ), what would be the best strategy IF the bingo site forgot to restrict the bonus to wagering only, and instead put it into your withdrawable cash balance? A £10 bet which wins at even odds on roulette should result in £20 cash balance but it's now £30, so you withdraw that amount. But what if you lose? You have bet £10 so have released the bonus, so you have £10 loss and £10 back, which you can now cash out - because it's not a bonus due to some sort of impossible glitch. So you break even. Is there a better way to do this? I'm thinking that instead of one £10 bet, make 10x £1 bets, which, on average, would net just under £5.
So there is a way to more or less guarantee a profit, and to definitely guarantee no losses, but I'm more interested in what's the MOST profitable way to play the £10 deposit and bonus funds? My overall strategy when taking up similar offers is to always choose bingo sites which also have roulette, which means I will roughly break even on my deposits (actually lose a small amount over time due to the zero). So I will, on average, win one, lose one, and (hopefully) make a profit from the bonuses. In the above scenario, might it be better to bet the whole of the initial £10 deposit, and if it loses, again bet the £10 bonus on an even money chance, for a possible cash-out of £20? What if this could be done multiple times? Would that make a difference? The aim is to win, obviously, and it's also obvious that 2x £10 bets each time could lose a lot of money in the short term.
Without doing any maths I'm compelled to think that risky bets should make more money than non-risky bets, so 2x possibly losing £10 bets (versus 10x £1 bets with guaranteed cash out of between £10-£20) should have potentially higher returns in the long term. Which, I suppose, leads to how much risk I would be willing to take. As above, I would, in theory, and do in actuality, make infinite £10 bets with my deposits in order to make a potential profit from the bonuses, so the deposits are effectively risk-free (long-term), as I would win back almost half of them. And again, without doing any maths, I know that losses when zero hits are outweighed by what can be won with bonus funds, though I can't come close to having even a clue as to how much by. Sorry for sounding a bit thick but ageing hasn't helped my maths ability one little bit.
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