What is Bonus Hunting and can it be Profitable?
As you will likely have seen, casino sites use a variety of incentives to persuade new players to choose them over their competitors. Despite this, it is well accepted by operators that most players will use a number of different sites at any one time.
If you are curious about how you can leverage this to your advantage, then you're in the right place.
What is Bonus Hunting?
If you are relatively new to online gambling, then you may not yet be familiar with the bonuses that are available for new customers. Referred to as either sign-up or welcome bonuses, these can typically come in the form of free cash, free spins or matched deposit offers.
With the online gambling space increasingly crowded, these offers are a key aspect of any operator's marketing plans. Whilst this ultimately benefits the casino, savvy players can also game the system to their advantage. The act of taking up multiple welcome offers, in order to generate profit, is called bonus hunting.
How Bonus Hunting Used to Work
Previously, bonus hunting used to be relatively straightforward. This was because bonuses were big, wagering requirements were low and restrictions on games were not commonplace. This allowed players to use bonuses on games of their choice and rely on the expected RTP (return to player) to pay off in the long run.
Bonus Hunting Today
Today casinos have wised up to this practice, making it harder, but not impossible to profit from welcome offers. With increased wagering requirements and restrictions on game types, the key variable now is volatility.
Highly volatile games give the opportunity for players to hit big winnings, making it more likely you can fulfill the higher wagering requirements. This will, however, require you to bet large amounts of your bonus, making it more likely you will lose it all quickly. Once you lose your bonus, it is time to hunt out a new casino with a big welcome offer.
Of course there is a risk with this strategy that you could lose money, given that your original deposit amount will still be locked into your casino account. This is the main consideration to make when hunting big matched deposit bonuses.
No Deposit Offers
The other option for bonus hunters, is to search out free cash promo offers. These are typically much lower in value than matched deposit offers, but the terms are also more favourable.
Whereas wagering requirements for matched deposit offers may be as high as 30-40x the bonus amount, for free cash offers they can be as low as 10x - some even have no wagering requirements at all but are a rare find. Whilst you can still use these bonuses on high volatility games, to try and maximise your winnings, you can also take a more cautious approach. Just be careful of using certain betting strategies or practices that might make the casino avoid paying out any winnings once you meet the terms and conditions.