Each individual chooses to gamble for a different set of reasons; some are looking for the excitement that is created through risk, others are after assistance to make that weekend trip reality – while a few are actually after the big jackpots. Most people started their casino experience randomly as they were keeping a friend company one night or as they attended a cool event in their local casino.
However, things have changed a lot in the casino industry during the past decade, as online casinos and websites offering specific game choices and online gambling slots have rapidly risen. Today, players try out casino games for the first time mostly due to their own personal choice, following a movie related to gambling or due to the rumours of someone they know winning a crazy jackpot. Thus, it is essential to provide them all the necessary information that are required in order to initiate their online gaming experience.
Online Casinos vs Offline Casinos
Besides the obvious distinction related to materiality in contrast to digital experience, there are not many differences amongst the two. Initially, people thought that online casinos were a scam and that they were trying to steal their money; nonetheless, some websites are indeed aiming to trick people and this is why it is extremely important to pay attention and spend some time researching before depositing your money.
After the first months of this phenomenon, people started trying out online casinos as it allowed them to play from the comfort of their couch, without drunk people shouting around them. As the years have passed the online market has grown considerably surpassing by far the offline market in such a little time; progressive jackpots that are formed from a number of different websites and casinos have rocketed in terms of price, attracting a number of offline old school casino players as well. However, new players seem to prefer online casinos for a reason other than comfort and convenience – their offers.
New Player Offers
Online casinos have a great number of offers for new players (also for loyal members, but we will discuss it in another article) in order to stay on top of their competitors. In the next paragraphs we will focus on each different offer and we will distinguish them in different types, but first it is essential that we introduce some concepts to help us understand them more clearly:
This refers to the notion that ‘the house always wins’, which most casino players have heard at some point. Expected value refers to the fact that if a player gambled an infinite number of times the casino would win this percentage over the player in average. However, it should not be confused with whether a player wins or loses every time they go into a casino.
Why do we talk about this? Because expected value is a concept that makes the casino feel comfortable that they will make profit in the long run; this doesn’t mean that a player can’t login place £100 bet on black, win and log out. At the end of the day gambling is mostly a game of luck.
Types of Offers
However, offers are the only way that a player can have ‘positive expected value’ over the casino – so even if you lose sometimes, you are going to leave the place as a winner. To find out if an offer has positive EV you just have to read through the site, since the casinos do this work for you. To calculate offers that aren’t listed you just have to use the two following formulas:
Qualifying costs = House Edge x Wagering Requirement
Bonus EV = Bonus amount – (House Edge x Wagering Requirement)
Low Risk Offers
No deposit offers usually involve fake money or some demo version of the game, removing the chance of the player to win real money. However, there is also a dangerous part in these offers; players know they are betting fake money and raise the stakes quite high – which is something that they might get accustomed to and keep betting the same with real money. One can argue that these low risk offers are actually not so low risk.
Other types of low risk offers are those which require from the player to deposit some money in order to be able to claim the offer. A common example is deposit £10 to get 10 free spins, which are usually accompanied by certain wagering requirements. This offer carries a much lower risk than the one described above since it provides the players with the opportunity to experience the actual game alongside its bonus features for such a low price.
High Risk Offers
Moving on to the last type of offers that are advertised by some websites it is important to note that in the previous category the player is losing 0 money or about £10 to qualify. However, there are some bonus offers available to players, which in some cases give players 100% of the amount they have deposited for free. There have been instances whereby casinos offered a bonus of up to £600, which for some online casinos did not play out so well – resulting in their bankruptcy. However, there is also the issue of wagering, whereby players usually have to gamble 40x the bonus and the initial deposit in order to withdraw the prize.
Gambling is an activity that has to always be pursued cautiously without losing control and going overboard. New players should consider all of the above before making their first deposit, while keeping in mind that the offers are there due to the vast competition apparent in the industry and not to trick them. However, it is important to keep in mind the ‘No Deposit’ offers, since some things are just too good to be true. Check out the games available on Wizard Slots. Click here to deposit on our online slots today.