Yes, Online Blackjack players that take advantage of the first deposit bonus offered by casinos actually have a huge edge over the house. I'll try to explain the math by using an average bonus. Bonuses and wagering requirements vary from casino to casino.
The math Simplified:
Online Casino ABC offers a 100% first deposit bonus to a maximum of $100. To withdraw the bonus, you must wager the deposit amount 15 times (15x). We will deposit the maximum to take full advantage of the bonus.
You deposit: $100
Your bonus: $100
Wagering Requirement: 15x ($100+$100) = $3,000
Average house advantage: 0.5%
Your expected loss: $3000 x 0.5% = $15
Your expected withdrawal: $200 - $15 = $185
Your expected profit: $85
Not bad for an hour of fun. Of course, this would be your expected return in the long run. In the short-run, you are going to win much more at some casinos and you will lose your deposit at others. It is that simple. All you need is the right online blackjack strategy. In the long run, you should win money because the advantage is in your favor.
Casino example 1:
Lucky Nugget Online Casino: they offer a 400% max $200 bonus, with a wagering requirement of 20x
You deposit: $50
Your bonus: $200
Wagering Requirement of 20x: 20x $250 = $5,000
House advantage: 0.33%
Your expected loss: $5000 x 0.33% = $16.50
Your expected withdrawal: $250 - $16.50 = $233.50
Your expected profit: $183.50
Your expected profit is $183 and you only have to risk $50 of your own money.
Casino example 2:
Intercasino: they offer a 100% max $80 bonus, with a wagering requirement of 25x the bonus amount.
You deposit: $80
Your bonus: $80
Wagering Requirement of 25x the bonus amount: 25x $80 = $2,000 (or 12.5x $160)
House advantage: 0.34%
Your expected loss: $2000 x 0.34% = $6.8
Your expected withdrawal: $160 - $6.80 = $153.20
Your expected profit: $73.20
Note: Intercasino offers this bonus every month.
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