Calculating total turnaround of bets for earning bonus

An online casino offers a bonus where they match up to $100 for each $100 that you deposit. However, there's a glitch: you can only withdraw this bonus if you earn 200 points playing in the casino. You earn one point for each $150 that you play.

Is this bonus any good?

I imagine that by a house edge of 0.5%, I'd lose $0.75 for each point. Is that right? That would imply that I'd lose $150 to earn the full $200 amount.

However there are also busts, which count towards points, and things could sway up and down even if approaching the theoretical loss of 0.5%. I wonder whether it is possible to earn the 200 points without losing more than $100, or what the chances are.

Do you actually get to keep the extra on withdrawal or do they subtract that $100?

200 points at 150 each would be 30,000 coin in. If you are playing a fair game at .5 then your theo loss would be $150. I feel the odds of running 30k with only 200 is pretty slim. If you dont hit a royal or good 3of a kind early on then you won't make it.

Without doing math 200 to 30k coin probably has a ror in the 90s.

Quote: justjack

An online casino offers a bonus where they match up to $100 for each $100 that you deposit. However, there's a glitch: you can only withdraw this bonus if you earn 200 points playing in the casino. You earn one point for each $150 that you play.

Is this bonus any good?

I imagine that by a house edge of 0.5%, I'd lose $0.75 for each point. Is that right? That would imply that I'd lose $150 to earn the full $200 amount.

However there are also busts, which count towards points, and things could sway up and down even if approaching the theoretical loss of 0.5%. I wonder whether it is possible to earn the 200 points without losing more than $100, or what the chances are.

I Did it !!!!!

On day one of my BlackJack Lifetime
Bet super aggressively at 10% of rolling bankroll. Many similar promotions have a cap on max bet size to qualify or max winnings to walk away with, so maybe not so lucrative now. Read the small print ten times over.

https://wizardofvegas.com/forum/gambling/big-wins/18436-my-big-win-day-at-online-live-dealer-blackjack/

If you reach the 30,000 points, you can withdraw the money. It's not just for betting more. But they won't release a partial sum after a target is reached. That is, if you reach 15,000, you won't get 50. It's all or nothing.

Quote: justjack

If you reach the 30,000 points, you can withdraw the money. It's not just for betting more. But they won't release a partial sum after a target is reached. That is, if you reach 15,000, you won't get 50. It's all or nothing.

Honestly it's not a very good promotion. As was pointed out attempting to run 30k coin of action on $200 is going to have a Risk of Ruin (RoR) that is very high. You're going to go broke the majority of the time you do this just due to the sheer variance of most games. After that, you're going to spend a lot of time working $30k coin in just to theoretically (by your numbers) earn $50.

I mean, if you're going to play online no matter what (for fun) then this could certainly be something you do to try to help mitigate your negative edge. However, don't look to make a ton of money off this. What you're talking about doing used to be called "Bonus Whoring" and was very lucrative once upon a time. There are some sites with decent promotions, but we haven't even gotten in to the run part about online gambling yet... Which is all this is fine and dandy but then who says you're playing on a fair site, or that they'll pay you after? Hell, there have been AP's that bonus whored and did nothing wrong but the site didn't like that they were chasing the bonuses and just stole their money. You're dealing, quite often, with companies in 3rd world countries that are far from reach of any jurisdiction or action you could take.

Romes wrote:
[q Which is all this is fine and dandy but then who says you're playing on a fair site, or that they'll pay you after? Hell, there have been AP's that bonus whored and did nothing wrong but the site didn't like that they were chasing the bonuses and just stole their money. You're dealing, quite often, with companies in 3rd world countries that are far from reach of any jurisdiction or action you could take.

Honestly, you could consider traveling to said 3rd World country, carrying with you your Gem and Mineral collection (rocks) and an extra pair of hosiery (socks), and go Tribal on them ;-)