Saturday, June 24, 2006

Best Strategy for Free $500 Bonuses

I've been getting lots of questions about the best strategy for the free $500/1 hour bonuses listed a few posts back. There are two viable ways to play there, and a few things to keep in mind.

You can only transfer a maximum of $200 in winnings from the free money into your real account, so keep that in mind. Play any game during the free hour and remember that your goal is to run your balance up to $700, as at that point you've hit the maximum you can transfer over to your real account, which is $200.

Because of the high wagering requirement for the bonus, if you just grind out the WR at blackjack on autoplay, you're likely to lose your bonus, plus your deposit (which is either $20 or $50, depending on which casino you play).

If your goal is to grind out as much of a profit as you can, with a minimum of risk, your best shot is to play French Roulette, and make even money bets. Bet the minimum and grind it out on autoplay. The HA of French Roulette at Microgaming casinos is 1.35%, and wagering at that games counts 50% towards the WR.

So if you transferred over $200 in winnings from the free hour, your WR would be $12,000 at French Roulette, and your EV would look like this:

EV = $200 (.0135*12,000)
EV = $38

The other way to play these is to be more aggressive and to try to build your bankroll up first by making large wagers at BJ, either running up your bankroll or busting out. Since you only deposit $20 or $50 of your own money, and start with either $220 or $250, you don't have a lot of capital at risk, and have a chance for a fairly big payoff, if you're willing to bust out.

In this scenario, you'd set a target to shoot for, betting something like $50/hand at blackjack. Say it's $450, and that you hit a nice run and run your bankroll up to 4400. Then you revert back to grindy mode, and grind out the rest of the WR at French Roulette, as outlined above. The difference, obviously, is that you're effectively starting with a bonus of $400 in this scenario, so your EV is $200 more, or $238.

The downside is that you'll bust a lot betting aggressively, and will be out your deposit of $20 or $50. Which sucks, but that's gambling. You can also be more aggressive with yur target, shooting for a bigger score, but that also increases your likelihood of busting out. Again, that whole gambling thing.

In the end, these are nice bonuses, especially when offered at three different casinos. It's not quite as easy, dead money as you'll find with some of the cashable signup bonuses, but there's a lot of upside with these, with a very small initial outlay of money to take a shot at them.

7 comments:

mookie99 said...

Is there an easy way to see how close you are to clearing the amount gambled to get the bonus ?

King Of Clubs said...

Care to share some of the big bonus codes?

ScurvyDog said...

Mookie,

It's usually easiest to use the live chat function and just ask support, as far as how close you are to clearing the bonus. A little annoying but it's usually the best way to get a quick response.

ScurvyDog said...

King of Clubs,

The only casinos I know of that use bonus codes are the RTG ones, which are a little dodgy to begin with for the most part. So sadly, nay, I'm not really sitting on a stash of big bonus codes. Most of the good bonuses are listed in various places on my blog, and don't require a bonus code to get, as you just have to signup and deposit for almost all of the bonuses.

lumpy said...

Scurvy,

Hooking me up again. I signed up for Casino Classic through your link. I got my $500 to $780 playing video poker and doubling. I then ran my $220 into $420 playing blackjack. Now I'm trying to autoplay French Roullette and I'm completely friggin lost. What do I select when I hit the call bet button? A small window pops up with all these options, some of them in french. Feeling pretty dumb here. Thanks for the help.

ScurvyDog said...

Lumpy,

You can basically autoplay it on any of the even money bets available (the ones that pay out 1-1). The easiest to find (in French or English) are the red or black bets.

If you bet on say, black, and set up the autoplay, it should just start autoplaying when you hit okay, without messing with the Call Bet button.

lumpy said...

Thanks. Wow I feel like an idiot. French Roulette is kicking my ass right now.