How a Reddit Member Made a Living for 3 Years Exploiting Online Casino Bonuses
March 12, 2021
This is a story about a Reddit member that goes by the username “ETA_was_here”. This is also a story of ingenuity and diligently finding loopholes in the terms and conditions of online casinos that can be exploited for profit.
Albeit, the user originally posted to Reddit in 2012 (9 years ago at the time of writing), there is still a lot of relevance and lessons that can be learned from his story and experience even today.
As the title of this article has already revealed, the Reddit member milked online casino bonuses to sustain himself comfortably for over 3 years. In fact, it was his full-time and only job during this period.
If you are wondering how exactly ETA_was_here achieved this and what loopholes he exploited, you are at the right place. We are going to spill the beans on how this ‘get rich quick’ scheme works and talk a little bit about how online casinos these days have learned to cope with it.
Why did the Reddit Member reveal his secret source of easy, quick money?
If ETA_was_here was making all that money by exploiting online casino bonuses, would he not want to stay hush-hush about it?
Well, of course. By his own confession, ETA_was_here has admitted to keeping the scheme a fiercely guarded secret during the three-year tenure when he was actually using it as his sole source of bread and butter. The reason the user has now disclosed what he did is that online casinos have since evolved to effectively combat this scheme and people are no longer able to use it without getting their account closed or banned permanently.
If the Reddit member had revealed his scheme while he was using it and it was working for him, it would lead to tons more casino whores (a term used to refer to casino players that exploit bonuses to make money). That would in turn mean less money for him and the risk of the scheme being discovered by online casinos much sooner than it eventually took.
How exactly did the Reddit Member exploit casino bonuses?
There are plenty of nuances and technical details to the scheme, but to give you a high-level understanding of how the exploitation happens, let us consider an example. As any online casino player would be familiar, most online casinos offer a welcome bonus to new players when they sign up and make their first deposit. For example – get a 100% match bonus on your first deposit up to a maximum bonus of £100. Therefore, if you were to sign up and deposit £100, then you would receive an additional £100 as bonus money and have a total of £200 in your casino cashier account.
Obviously, the casino will not let you cash-out right away and walk away scot-free with £200. They will impose a wagering requirement that stipulates that you cannot cash out until and unless you have wagered a certain amount. So, if the wagering requirement is 20 times the bonus, it would mean you need to wager 20 x 100 = £1000 before you can withdraw your deposited and bonus money.
ETA_was_here would go ahead and satisfy the wagering requirement by playing Blackjack at the optimal strategy, which would mean a house advantage of 0.5%. At that rate, you are looking at a loss of £10 on average for every £1000 wagered. Therefore, from the free bonus money of £100, you only lose £10 and you can cash out the remaining which leaves you with a profit of £90. Now, you scale up this scheme and find as many online casinos as you can to really increase your profits.
In the words of the Reddit member himself, “my best month was up in the 40k, while my worst months netted a loss of 10k” and in total, he made about £250,000 from it before taxes.
Is it possible to exploit online casinos today and how to avoid getting banned?
As we already addressed, the same scheme will no longer work because a lot of online casinos have simply disallowed the contribution of Blackjack towards the wagering requirement. However, if you look at what ETA_was_here did as just one possibility, you will realize that there is always potential to exploit online casino bonuses. For those looking to try to do the same most important thing is to have a quality source of bonus offers, NoDepositKings is a site with one of the biggest selections of no deposit casino bonuses on the internet.
These days, there are much bigger bonus offers and some online casinos even offer no deposit bonuses. We cannot feed you with possible exploits on a silver platter, but we can tell you that there is certainly potential to live off bonuses, just like ETA_was_here did almost a decade ago.
Online casinos generally have a zero-tolerance policy towards accounts that try to exploit bonuses. In order to avoid your account being permanently banned and losing the balance you had in that account, it is important to diligently go through the terms and conditions of the specific casino and comprehend how, why and when they can ban you, and avoid falling into those traps.