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On games without raises or doubles, the expected loss while completing a wagering requirement is wagering requirement * house edge. This makes the expected gain of a cashable bonus equal to bonus - wagering requirement * house edge. House edge is defined in terms of initial bet, so the above equation does not apply to games with raises and doubles where the final bet size may be larger than the initial bet. The equation becomes bonus - wagering requirement * average loss per wager. WizardofOdds.com has proposed calling the latter average loss per wager variable "element of risk".[1] For a more precise estimate, one must also consider the benefit from being able to bet the bonus prior to completing the wagering requirement. This effect becomes noticeable when making large bets, such as betting the full balance (deposit and bonus) in a single bet. After considering this benefit and "element of risk", the formula for return becomes bonus - average wagering * element of risk.[2] If games without raises or doubles are played and the bonus is not given until completing wagering, then the formula can be simplified as bonus - wagering requirement * house edge.

Cashable bonuses

The most common form of casino bonuses is the cashable bonus.[citation needed] Cashable bonuses can be cashed out after completing a wagering requirement. A casino might offer a 100% match bonus up to $100 with a wagering requirement of $2000. After wagering $2000 in the casino, the player is able to cash out the $100 bonus.

Cashable bonuses often restrict play on certain games. Wagers made on roulette, baccarat, craps, and sic bo usually do not count towards the wagering requirement because these bets give the player the opportunity to simultaneously bet on winning and losing outcomes, greatly reducing variance.[citation needed] For example, betting on both red and black in roulette. Wagers on games with a low house edge, like blackjack and video poker, are also often excluded. Some casinos increase the wagering requirement above the default for low-house-edge games.

A fictional signup bonus offer follows as an example:

* The online casino offers new players a deposit matching bonus of 100%, up to $100
* The player must wager 25 times the total amount of the deposit plus the bonus before withdrawing
* Wagers on baccarat, craps, roulette, and sic bo do not count towards meeting wagering requirements

For this particular example, this would mean that a player depositing $100 would start with $200 in his account. The player must make $5000 ($200 × 25) in wagers before being allowed to make a withdrawal.

Some bonuses require no deposit to claim them. Types of no deposit bonuses include.

* A no deposit in pure monetary form, for example $10.
* Free spins no deposit, this is where they allow free spins on particular games, and then allow you to keep the winnings.
* Play for a predetermine period of time with x amount of dollars.

Signup bonuses

Many online casinos offer signup bonuses to new players making their first deposit. These bonuses normally match a percentage of the player's deposit with a dollar maximum, and almost all online casino signup bonuses require a minimum amount of wagering before allowing a cash out. Gameplay at specific casino games might be excluded from the wagering requirement calculation.[

Live-based casinos

Live-based casino gaming allows web players to interact with games played in a real world casino environment. Online players can see, hear, and interact with live dealers at tables in casino studios worldwide.

Download-based online casinos

Download-based online casinos require the download of the software client in order to play and wager on the casino games offered. The online casino software connects to the casino service provider and handles contact without browser support. Download-based online casinos generally run faster than web-based online casinos since the graphics and sound programs are located within the software client, rather than having to be loaded from the Internet. On the other hand, the initial download and installation of a download-based online casino client does take time. As with any download from the Internet, the risk of the program containing malware does exist.