Online Casino Bonus Guide

Almost all online casinos give some kind of bonus to their players. There are many types of bonus: sign up bonus, cash back bonus, loyalty bonus, and many more. Given the great number of bonus variations, each one with their own rules, it's a good idea to know exactly what casinos are giving you to avoid complications. We publish some articles in this section to help you better understand all casino bonus rules and implications.

No Risk Wagers Requirement

Posted by: SharpGambler on Sun, 08 January 2006 03:31:14 (149 Reads)

Did you ever read on casino terms and conditions "no risk wagers allowed"? What do they mean with this? Learn more about this on this article.

It is common to read on casino terms and conditions that no risk wagers are not allowed. What is a no risk wager? What do they mean with this term? A no risk wager is a bet in which the player don't risk any money. It means that the player is expected to, at least, recover the money he bet. If you bet $1 and you're expected to get $1, at least, you are making a no risk wager. Let's think on an example - a coin flip. A coin has two faces. When you flip the coin you have a 50% chance of getting heads and the same of getting tails. In a fair game, you are expected to be paid $2 for heads or for tails when you bet $1 on any one. You bet $1 on tails, you have a 50% chance of getting it, and you will be paid $2 if your feeling is correct. That's a fair game. If you bet $1 on tails and $1 on heads, you are making a "no risk wager". Why? Because you will get $2. If it is tails you win $2, if it is heads you win $2. You bet $2. You stay the same, exactly the same of your bet. You bet $2, and you'll get $2 for sure, because you bet on all outcomes possible. This is a no risk wager. You didn't risk any money. You know that you will stay exactly with the same money you had at the beginning. When an online casino speaks of a no risk bet What they mean with "no risk wagers" is "no low variance bets". Betting on red and black at the same time or on 1 single number on roulette has exactly the same implicit payout. On European Roulette you are expected to lose $2.7 on every $100 played. The implicit payout is 97.3% no matter the bet you make. You can bet on red/black at the same time or on a single number. The expected payout is always 97.3%. What is different is the variance of the game. When you bet on red/black at the same time the variance is near 0. When you bet on 1 single number the variance is high. This means that when you're playing defensively because your goal is only to try to keep the money at the level it is, what would be the case of a player who receives a $200 bonus with his $100 deposit, the best bet would be the red/black at the same time. If the wager requirements are, for example, 10X deposit plus bonus, you have to bet $300 X 10 =$3000. If you play on roulette you're expected to lose $81 with these wager requirements. In a low variance game you will lose almost exactly that value and will be able to make a profit of more than $100 with the bonus. On a high variance game, no one knows what the exact final outcome will be. In other words, and like I said before on another forum: You have a river and a man who wants to cross to the other side. He is 1.80 meters tall and the river is on mean 1.50 meters deep. The man can't swim. What means this? Oh man, you're expected to cross the river without problems. Expected ???!? Well he is expected to cross but this is not certain. Why? Because saying that the river is 1.50 meters deep on mean does not say anything about the exact deep of the river on the place the man is expected to cross it. It may be the case the river is 3.00 meters deeps on that place and still being 1.50 meters deep on mean. If the variance is high , it is very likely. So, the man would be best of with a 1.50 meters deep river with low variance. The expected payout is a mean and the variance is the degree of uncertainty of that mean (or volatility). If playing you are on mean expected to make a profit after fulfilling the wager requirements, then the casino would want to increase the degree of uncertainty of that result. that means prohibiting games with low variance.

Note : Did you ever read on casino terms and conditions "no risk wagers allowed"? What do they mean with this? Learn more about this on this article.

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