Aug 29, 2015
Are They Beatable?
One of the newest online casinos to receive the valuable Wizard of Odds APPROVED status is Vegas Crest Casino. Vegas Crest Casino is powered by three different casino software companies, is U.S. Friendly, and has a three-part Promotion for new players.
Please see the WizardofOdds.com review for Vegas Crest Casino here.
It should also be mentioned that Wizard of Odds APPROVED status.
Means that the casino has been APPROVED and meets the rigorous standards of our own Wizard. This will result in a player who signs up through a link on either the Wizardofodds.com or WizardofVegas.com sites receiving additional protections. For example, if the player has any dispute with the casino (though we do ask you try to resolve it yourself first) the Wizard will step in and act as an intermediary between the player and the casino to try to get the dispute resolved.
Another thing to note about Vegas Crest Casino, as Bovada has recently done, is that if you use one of their promotions (such as a Match Bonus) and lose without completing the required playthrough, then the unfulfilled playthrough will be carried over to the next bonus (if any) that a player redeems. It is important to keep this fact in mind when determining whether or not to do another bonus because the additional playthrough might be enough to make the following bonus disadvantageous.
With that out of the way, let's take a look at this three-part Bonus:
1.)$10 No-Deposit Bonus (99x Playthrough, Max Cashout $100)
2.)200% sign up Bonus with a Max Bonus of $1000 ($500 Deposit)
3.)300% sign up Bonus on 2nd Deposit with a Max Bonus of $1500 ($500 Deposit)
The first thing that I would recommend is DO NOT do the No-Deposit Bonus unless you are absolutely planning to never deposit with the casino unless you win. The reason that I suggest that is because players have a low probability of completing the Wagering Requirements for the No Deposit Bonus, so the only thing that you will likely accomplish is effectively increasing your playthrough amount when you do deposit as a result of failing to complete the playthrough requirement of the No Deposit Bonus.
You're also limited to $2 Max Bets with the No-Deposit Bonus, so any notion of taking a free big shot is out.
With that said, if you're planning to never play there again if you lose on the No Deposit Bonus, then sure, go for it.
Another thing to consider is that your, what I will term, 'Effective playthrough amount," is a greater percentage of your Deposit + Bonus amount if you do deposit with unfulfilled playthrough pending. In other words, it won't matter quite as much, percentage-wise, if you are depositing big...but then...you probably don't have any interest in a $10 NDB with a Max Cash of $100, anyway.
As we all know, my favorite thing to do is to have a bonus that I could play straight-up without having to pull any cute moves to have a positive EV. In the case of both of these Bonuses, the playthrough requirement for slots is 30x Bonus + Deposit, that would be $45,000 in slots play on the first deposit Bonus if we deposit the $500 to get the full $1000 Bonus.
It is worth noting that Video Poker and Blackjack both only qualify for 1/10th of the playthrough requirement as compared to slots, therefore, both of those options would require wagering of $450,000, in total.
Our best game of the two is good old fashioned 9/6 Jacks or Better with a House Edge of 0.46% which would result in us losing $2,070 on playing through $450,000 in play. When looking at the playthrough requirements compared to the House Edge, let me save you a little time and tell you every other game is worse.
Fortunately, we are able to play any game we like with this promotion, so let's take a look at a few ways we could do this:
Okay, judging from the pictures on the Vegas Crest Casino page and associated software provider links, we can only get a $100 bet out there on Craps, so that's not what I want. It seems that the Table Max for an Inside bet on Single-Zero Roulette for the Rival Software is $500, so that's what I want to do!
I want to give myself a reasonable chance of winning, so even though my profit would be better to nail a single number with a $500 bet and then grind through the playthrough requirements, I'm going to go ahead and do up to three six line bets for $500 each (win $2500 and return original wager) and then grind through the playthrough requirements on Video Poker, Blackjack (and Texas Hold Em Bonus isn't a bad one for speed and low Variance, despite the higher House Edge...Jacks or Better still offers the best overall return, though)
Okay, so here is how this could happen, you'll notice the new totals after a win are $3500, $3000 and $2500, and that's because we have to remove the original $500, so we are just looking at what we expect to profit off of the Bonus money.
Win on First bet: (6/37) * (3500-2070) = 231.891891892
Win on Second Bet: (31/37 * 6/37) * (3000-2070) = 126.355003652
Win on Third Bet (31/37 * 31/37 * 6/37) * (2500-2070) = 48.9483347482
Lose All: (31/37*31/37*31/37) * (-500) = -294.069452945
In other words, you are expected to win $113.13 on an initial outlay of $500!!! That's not an Expected RETURN, it's an Expected WIN! The result is an advantage of about 22.626% on the play.
Remember, though, that if you lose you have completed almost none of the playthrough. On the 10% games, you would have only played through $1500 of $450000 in required bets leaving $448500 more to playthrough. If you were to redeem the next bonus, you would add $600000 playthrough to that amount and would have over a million dollars to playthrough. If you wanted to try again, you probably could, but your Roulette strategy would have to be significantly more aggressive.
I'll leave it to you, in the event you try the first Bonus and lose, to decide if it is worth it. If you run into this situation and need some advice, feel free to comment on the bottom of this page. I already looked and the six-street and corners bets wouldn't work, so you'd probably either have to bet a single-number or split the bet between two or three numbers.
Personally, I wouldn't play the No Deposit Bonus unless I know I will absolutely not deposit with the casino if I lose. Again, you're just adding to the playthrough for when you do deposit, in most cases. I would play the first bonus with the Roulette method and I would not play the second bonus if I lost on the first due to the increased playthrough. I'm not saying there is no advantage to be had as there most certainly is by adopting a single-number $500 bet (maybe even less) strategy, but I just don't like the low probability of winning.
The probability of losing all three six-line bets is only about 58.81%, so given the 22.6% advantage on something that has a 41.19% chance of going well, I rank this as a very good play.