Need help with casino bonus whoring...

[MikeyObviously]

I have decided that I am going to start casino whoring. I think I want to start with Casino on Net, the 888 one. They offer 100% $200 dollar MAX with a 10x Wagering Req.

So I must wager 2000 dollars in Black Jack with 400 dollars. Can someone help me with the math as far as risk of ruin goes. Does anyone have the formula so I can figure out my risk of ruin with a 5, 10, 20, or 25 dollar bet. Their advantage is .41 percent I believe...

Anyone have any general tips for a newb or links to useful threads as I have only really found one.

[Reef]

http://www.wizardofodds.com/blackjack/bjapx12.html

[Homer]

[ QUOTE ]
I have decided that I am going to start casino whoring. I think I want to start with Casino on Net, the 888 one. They offer 100% $200 dollar MAX with a 10x Wagering Req.

So I must wager 2000 dollars in Black Jack with 400 dollars. Can someone help me with the math as far as risk of ruin goes. Does anyone have the formula so I can figure out my risk of ruin with a 5, 10, 20, or 25 dollar bet. Their advantage is .41 percent I believe...

Anyone have any general tips for a newb or links to useful threads as I have only really found one.

[/ QUOTE ]

Short-term risk of ruin formula...

r = N((B+EV)/SD) + e^((2*EV*B)/VAR)*N((B-EV)/SD)

For the CON bonus...

B = $400
EV = -$8
SD = $115 for $5 bets [SD = 1.15*sqrt(n)*b (n = number of hands played, b = bet size)]

This gives an ROR of 0.06%. For other bet sizes...

$10 -> ROR = 1.57%
$20 -> ROR = 8.71%

As for tips, do CON, Reef Club, Starluck and Planetluck first if you are short on cash. If you have money, sticky bonuses reign supreme.

-- Homer

[1C5]

[ QUOTE ]
[ QUOTE ]
I have decided that I am going to start casino whoring. I think I want to start with Casino on Net, the 888 one. They offer 100% $200 dollar MAX with a 10x Wagering Req.

So I must wager 2000 dollars in Black Jack with 400 dollars. Can someone help me with the math as far as risk of ruin goes. Does anyone have the formula so I can figure out my risk of ruin with a 5, 10, 20, or 25 dollar bet. Their advantage is .41 percent I believe...

Anyone have any general tips for a newb or links to useful threads as I have only really found one.

[/ QUOTE ]

Short-term risk of ruin formula...

r = N((B+EV)/SD) + e^((2*EV*B)/VAR)*N((B-EV)/SD)

For the CON bonus...

B = $400
EV = -$8
SD = $115 for $5 bets [SD = 1.15*sqrt(n)*b (n = number of hands played, b = bet size)]

This gives an ROR of 0.06%. For other bet sizes...

$10 -> ROR = 1.57%
$20 -> ROR = 8.71%

As for tips, do CON, Reef Club, Starluck and Planetluck first if you are short on cash. If you have money, sticky bonuses reign supreme.

-- Homer

[/ QUOTE ]

Hey Homer, what bank account do you suggest having before starting the sticky bonuses?

[Homer]

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
I have decided that I am going to start casino whoring. I think I want to start with Casino on Net, the 888 one. They offer 100% $200 dollar MAX with a 10x Wagering Req.

So I must wager 2000 dollars in Black Jack with 400 dollars. Can someone help me with the math as far as risk of ruin goes. Does anyone have the formula so I can figure out my risk of ruin with a 5, 10, 20, or 25 dollar bet. Their advantage is .41 percent I believe...

Anyone have any general tips for a newb or links to useful threads as I have only really found one.

[/ QUOTE ]

Short-term risk of ruin formula...

r = N((B+EV)/SD) + e^((2*EV*B)/VAR)*N((B-EV)/SD)

For the CON bonus...

B = $400
EV = -$8
SD = $115 for $5 bets [SD = 1.15*sqrt(n)*b (n = number of hands played, b = bet size)]

This gives an ROR of 0.06%. For other bet sizes...

$10 -> ROR = 1.57%
$20 -> ROR = 8.71%

As for tips, do CON, Reef Club, Starluck and Planetluck first if you are short on cash. If you have money, sticky bonuses reign supreme.

-- Homer

[/ QUOTE ]

Hey Homer, what bank account do you suggest having before starting the sticky bonuses?

[/ QUOTE ]

I'm a little fuzzy on the bare minimum bankroll required for playing the sticky bonuses. What I do know is that you can basically set your own risk of ruin based on where you set your target cashout amount. Izverg at BonusWhores made an excellent post showing how to find the optimal target, depending on bonus specifics and bankroll size. Do a search over there for 'Sticky whoring: How to calculate the target'.

-- Homer

[1C5]

Thanks, I will check it out!

[MikeyObviously]

Wow, I didn't expect someone would pull out the actual mathematical formula, but that is exactly what I wanted, thanks!!

I need clarification on a couple of things in the formula. is the capitol N for number of hands? (N would be 400 if bet size is 5, 200 if bet size is 10?) and what is VAR?

But your great post Homer has me asking, "what is a sticky bonus". My poker bankroll is around 3k right now...but don't want to risk too much on gambling (haha).

[Homer]

[ QUOTE ]
Wow, I didn't expect someone would pull out the actual mathematical formula, but that is exactly what I wanted, thanks!!

But your great post Homer has me asking, "what is a sticky bonus". My poker bankroll is around 3k right now...but don't want to risk too much on gambling (haha).

[/ QUOTE ]

Sticky bonuses are different from regular bonuses in that the bonus amount is removed when you withdrawal. For example, if a casino offers a $100/$200 (that is, deposit $100, get a $200 bonus), you meet the WR and end up with $500, when you cashout you will only receive $300. The bonus is either returned to your account for further play (commonly referred to as a type-2 or sticky-2) or removed completely (type-1). The strategy to be used depends on the type of sticky...

Type-2 (Bonus returned to account)

- Grind through wagering requirements
- Cashout, wait for it to hit Neteller
- Gambool with the bonus, cashout when your balance is above the bonus amount, rinse, repeat

Type-1 (Bonus goes poof)

- Gambool from the get-go

There are very few type-2's these days (Mapau, Casino Fortune), most are type-1, including all of the Playtech $100/$200/$1200 bonuses (Golden Palace group, etc). Your bankroll is fine for sticky bonuses, but be ready for bigger swings than you're used to. The upside is that they take almost no time to complete, and are highly profitable. In the past few weeks I hit up Carnival, Grand Riviera and Club Dice and ran red-hot (+800, +400, +900).

For more information about optimal strategy (setting a target, bet size, etc), check out the threads at BW, especially the one mentioned earlier in this thread.

-- Homer

p.s. - For a $100/$200/$1200, your target cashout point is around $600 ($587 to be exact) -- that is to say, a profit of $300 ($600 - $200 bonus - $100 deposit).

[rusty JEDI]

Many stickies recently changed. Double check that Blackjack is not on the restricted list.

I love stickies and would take them over a regular bonus.

rJ