What is ‘Casino Whoring’?
A cheesy yet not so inappropriate term, Casino Whoring, is used to refer to a ‘casinobasic‘ of usurping free bonus offered by online casinos. The theory is that using a ‘scientific’ – some arithmetic and probability calculations, it is possible to identify a casino bonus that will provide an assured profit of a certain approximate amount.
Using this theory, the practitioners will play an online casino offering a promising bonus, get a profit of an amount approximate to the calculated value, and then move on to another casino offering the same kind of promise without incurring any loss in the process. They will play one casino till they are satisfied that possible profit had been squeeze out, then hop onto another casino repeating the process there and then another one and so on. Hence the term.
The Casino Bonuses:
Although there are many kinds of casino bonuses, the target for Casino Whoring activity is mainly the Deposit Bonuses – First Deposit, second deposit etc. for new players. This type of bonus is given to first time members for joining the sites. It usually comes in the form of a certain percentage of the amount of the deposits up to a certain limit. Eg. 200% of first deposit up to $200.
Deposit Bonuses comes with a requirement called Wagering Requirements (WR). This requirement restricts withdrawal of the winnings from the bonus till a certain times of the bonus amount is wagered or played through. For example: WR of 20xB means that a gross total bet of at least 20 times the bonus amount must be wagered. In this example if the bonus given is $200, then the WR will be $4,000.
The technique of Casino Whoring:
The most important factor in assessing the winning probability of a casino game is the ‘payout percentages’. These are the odds that the machines(gambling software in case of online casinos) give out in a complete play cycle. Say the payout percentage for slots is 96.5%, that means that for that particular game, a total of 96.5% of all bets will be re-won, while the casino will keep 3.5% in a cycle. Payout percentages differ according to the online casino, the gaming software used, and also the particular kind of game.
The odds of winning in online casinos are greatly affected by the choice of games. Generally, payout percentage of table games like blackjack, roulette, poker etc. are better than slots. Therefore the first thing that a Casino Whoring pundit will look for is whether the better odds games are permitted by the terms for the bonus. Although many small and medium size online casinos do not permit bonus play on games other than slots, some of the bigger ones do.
The magic scientific formula:
The Casino offers a 200% bonus of first deposit upto a maximum of %200. WR is 20xB. Blackjack play is permitted which has a payout percentage(PP) of 97%. Make a deposit of $100 for maximum bonus.
Amount spent: $100
Amount received in account available for play: $100 + $200 = $300.
Total bet required (WR)= 200 x 20 = $4000
House Edge: 100% – 97%PP = 3%.
Expected Loss: 3% of $4000 = $120.
Cash Balance after fulfilling WR: 300 – 120 = $180.
Net Profit: 180 – 100 = $80.
Is Casino Whoring foolproof?
The calculations are based on accurate Payout Percentage and complete payout cycle. This in practice will not always be the case. In case of payout percentage, looking at data from independent online gaming regulations such as eCogra etc. it not only differs on different casinos and games, but also varies over a period of time. For a payout cycle to complete, it depends on the number of players playing the particular game over the same period. In short there are a number of factors that can influence the odds one way or another. Therefore the technique cannot be considered foolproof.