Online casinos offer deposit bonuses to lure new players in. This effectively gives a casino customer some free money from the casino to play with. The catch is, you cannot withdraw any profits (or sometimes even any of your own money) until you wager what can seem like a heck of a lot of money.
For example, an online casino might offer a 100% first deposit match to $100 with a minimum wagering requirement of 15 times the deposit plus bonus. So that’s $200 x 15 = $3000 in total bets made before you can cash out. This can take a while to do, especially while making a minimum bet of only $1. An impatient player will certainly bet more in his pursuit of that tempting bonus money.
The problem with that is, the higher you bet the more you are subject to the natural swings of variance (or short-term luck) which reduces the whole endeavor to much more of a gamble. No doubt, this is exactly what the casino offering the bonus is counting on. If a customer plays a low house-edge game, such as blackjack, and can keep making the minimum bet until he or she cashes the bonuses, they are almost certain of being able to cash out most of the bonus as a profit. (This is because the house edge in online blackjack is only a measly 1/2 of 1%, often less.)
Enter the blackjack bot. This is an auto-play program that resides on your computer which plays perfect basic strategy for you. Set it to make the minimum bet, set the maximum number of hands to play in order to correspond with the minimum wagering requirements, and go to bed. The bot does the playing for you and makes bonus-cashing an effortless chore.
“The online casinos have to offer deposit bonuses as part of their marketing, because this is the industry standard and it’s expected of them” replied a casino bot user when questioned about the growing use of online bots. “It works for them because most players will become impatient and make larger bets, throwing themselves at the mercy of variance and the house edge.”
“The reason the casinos make so much money is because players will bet big and stop playing after they have undergone a losing streak” he added. “Bot products smooth out the winning and losing streaks so that you nearly always cash-out the expected value of your deposit bonus.” These expected values differ by casino but are typically around 80% of the actual bonus offered, after the house edge multiplied by the wagering requirement takes it toll.
Many of these casinos offer regular monthly “reload bonuses” as well. This means that a player can make another deposit next month and get some more bonus money, as the casino would like another shot at them.
Is it really that easy? Are the online casinos content to sit by and let bot users relieve them of their promotional bonus money?
The answer to that question has yet to be determined. Most online businesses that become infiltrated by bots take counter-measures, such as Myspace (the hugely popular social networking site). But it is still unclear as to just how threatened the online casinos actually are over a few bot users exploiting the flaw in their bonus policies. And it is even foggier as to whether they want to spend the money and resources to do anything about it, as the bot programmers always seem to be one step ahead on the internet.