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DarkForceRising
10-19-2005, 02:47 PM
Signed up for a 100%/$100 bonus at Lucky Emperor. I deposited $200 not realizing that this would increase my wagering reqirement. To make matters worse it turns out that the Blackjack bonus is achived at 30x deposit and bonus- not the 15% I thought it was (read those T&C's, noobs).

Anyway, after about $2000 wagered I am up $66. Should I take the money and run?

DarkForceRising
10-19-2005, 03:31 PM
I'm confused. The CSR told me 30x but the T&C says 60x. Screw it. I'm cashing out.

CLC
10-19-2005, 03:44 PM
I think you still have a lot of wagering to do. 300 x 30 = 9000. If the WR are 60x then you need 18,000. It appears that you are stuck if you have completed 2,000 so far. don't get mad and do anything you will regret later. Hang in there GRIND it out.

Freakin
10-19-2005, 04:05 PM
[ QUOTE ]
I'm confused. The CSR told me 30x but the T&C says 60x. Screw it. I'm cashing out.

[/ QUOTE ]

They won't let you cash out before meeting the WR. It's possible they'll let you remove your bonus+winnings and cash out, but it would be a favor from them if they did.

Why'd you deposit 200?

DarkForceRising
10-19-2005, 05:58 PM
[ QUOTE ]
[ QUOTE ]
I'm confused. The CSR told me 30x but the T&C says 60x. Screw it. I'm cashing out.

[/ QUOTE ]

They won't let you cash out before meeting the WR. It's possible they'll let you remove your bonus+winnings and cash out, but it would be a favor from them if they did.

Why'd you deposit 200?

[/ QUOTE ]

I deposited $200 just as a buffer against variance. Why can't I cash out my winnings+deposit?

DarkForceRising
10-19-2005, 06:14 PM
I just called customer service. No problem cashing out deposit and winnings. Once again to those who happen to read this- avoid noobishness and learn from my mistake. Read those tems and conditions. This is the second time I screwed myself by over-depositing which resulted in having to hit a larger wagering requirement. /images/graemlins/mad.gif

I think the reason I was able to cashout was that I had not bothered to transfer the pending bonus chips into my stack. I guess depositing too much might have saved me.

Pyromaniac
10-19-2005, 08:50 PM
Although busting out sucks, wouldn't you do better to bust than to put extra $$$ as a buffer? Start fresh at another casino with a new bonus?

DarkForceRising
10-19-2005, 10:43 PM
[ QUOTE ]
Although busting out sucks, wouldn't you do better to bust than to put extra $$$ as a buffer? Start fresh at another casino with a new bonus?

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Yeah, I see what your saying. When I initially did this I had no clue it was going to make my betting requirement higher. Still, if I am running bad, but close to clearing the bonus, can I re-deposit without increasing my wagering requirement? I'm talking regular bonus here- not stickies.

tomdemaine
10-20-2005, 01:10 AM
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I just called customer service. No problem cashing out deposit and winnings.

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That's crazy. Why not just deposit bet the full bonus amount once and then cash out win or lose. Sounds lke free money to me, has the money hit your neteller yet?

DarkForceRising
10-20-2005, 02:08 AM
[ QUOTE ]
[ QUOTE ]
I just called customer service. No problem cashing out deposit and winnings.

[/ QUOTE ]

That's crazy. Why not just deposit bet the full bonus amount once and then cash out win or lose. Sounds lke free money to me, has the money hit your neteller yet?

[/ QUOTE ]

Maybe I missed something. If so, let me know. In the meantime, here is a recap.

Lucky Emperor offers a 100%/$100 sign up bonus. OBG said it was a 15x bonus. I deposited $200 as a "psychological" variance buffer (hey- I like being over rolled) not realizing that this would increase my wagering requirement. Not only did it increase the WR but, to add insult to injury, it turns out the WR is 30x deposit+bonus. After 1100 or so hands on auto-play I decide to get off my ass and find out what exactly the terms and conditions are. It turns out that to clear the bonus I must hit $9000 wagered- an expected value of roughly $55. I am already up $66 and I have not transfered the bonus chips into my deposit money that I have been playing with (leaving me free to cashout deposit and winnings).

So, I can cash out a guaranteed $66 or take a chance on clearing the bonus with an overall EV of approximately $55. I am open to correction but I think I made the right play given my initial errors.

bpb
10-20-2005, 02:39 AM
Despite your error of over depositing, clearing the bonus now has a positive expectation of $55. The fact that you've won $66 has no effect.

Put another way, you can cash out now an end the experience at a guaranteed +$66. Or you can clear the bonus and have an expected total finish of $66+$55 = $121.

d10
10-20-2005, 06:38 PM
[ QUOTE ]
Signed up for a 100%/$100 bonus at Lucky Emperor. I deposited $200 not realizing that this would increase my wagering reqirement.

[/ QUOTE ]

Are you sure this is right? I did something similar at Starluck to get the signup and IGMpay bonus on the same deposit, then I realized that putting in extra to max out the IGMpay bonus might have screwed me when it came to the requirements for the signup bonus. But I talked to customer service and they said since only $100 of my $500 bonus counted towards the signup bonus, the wagering requirements would be the same as if I had deposited $100 for it. That seems stupid to penalize players for depositing more.

DarkForceRising
10-20-2005, 08:44 PM
It depends on the casino. With Emperor this was the case.

Thythe
10-20-2005, 09:28 PM
Regardless of if it increases the WR, depositing more is a terrible idea. Assume it doesn't increase your WR. You deposit $100, they give you $100 for a total of $200. You lose it all, net loss is $200. You deposit $300, get $100, then you lose $200. Now you have lost $200 and you still have to keep playing because you haven't cleared the WR. Just for a future note, never deposit more than the required amount. This has nothing to do with variance.