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Johnathan Nightingale - Why don't people want free money?

About Why don't people want free money?

Previous Entry Why don't people want free money? Nov. 29th, 2004 @ 10:08 pm Next Entry
I am continually amazed at how hard it is to convince people to take free money. I mean, I understand that a certain skepticism is healthy, that in fact if you simply knee-jerk reject any good-sounding offer then you are less likely to get conned in life. Fine, but you also miss out on some decidedly nice little opportunities if you don't at least think before rejecting. I've got like, $500 in free money and a free xbox either in my hand or on the way, and the whole thing took about 6 hours spread across a couple otherwise uneventful evenings.

In a paragraph then, the deal is: online casinos are in a state of cutthroat competition for eyeballs, so they offer huge bonuses, like $200 bonus when you deposit $200. The catch is that you are forced to play a certain amount of casino gaming to "unlock" the bonus, and while casino games are normally a no-brainer money-loser, this is not the case when you're playing with $200 of their money. Indeed, if you play optimal blackjack (for which a chart is freely available), you stand to complete the requirements and cash out your original $200, plus somewhere between $120-$250 in bonus, depending on how your cards came down. Even more, I've offered to guarantee people their original $200 when they sign up through me since I get an affiliate kickback -- so there is officially zero risk, and about 3 hours invested, and STILL it's like pulling teeth to convince friends to take free money.

Very very strange, I tells ya. If anyone wants free money, email me or reply and I'll happily send deets, the whole situation is just so odd.
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From:miko_no_da
Date:November 30th, 2004 03:25 am (UTC)
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What's 'optimal blackjack' and why are you guaranteed to win with it?
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From:johnath
Date:November 30th, 2004 03:30 am (UTC)
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Optimal blackjack is just blackjack where, given your two cards and the dealer's exposed card, you make the decision with the highest expected value. You are NOT guaranteed to win with it, indeed you ought to expect to lose money with it -- this is not a "I have a system for beating blackjack" scam. The thing is, if you play optimally, your expectation is a little better than 99.5%, that is, for every $100 you wager, you can reasonably expect over the long term to make $99.50 -- not break-even but pretty close.

The thing is, with a house advantage that small, it's extremely difficult to lose your entire $200 bonus by the time you've met the requirement to unlock it and cashout. Obviously you would lose it if you played forever, the house always wins in the long run - but you are not playing long run, you're playing exactly long enough to release the bonus and then you're gone. That's why I say you should expect somewhere between $120 and $250 in bonus -- most likely you will have lost SOME of it, unless the cards really hit you well, but if you play optimally you will keep most of it and walk away.
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From:miko_no_da
Date:November 30th, 2004 03:37 am (UTC)
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*laughs* Sounds interesting to me. I'm guessing you have to have the $200 free on a credit card somewhere to get started? Well, I'm paying bills tomorrow anyway, so I'll have the room. Send me the details? miko_no_da @ japan.com
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From:johnath
Date:November 30th, 2004 03:41 am (UTC)
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Sure, will do. I'm impressed, that's two people already that want free money. Do you think, amongst all my co-workers, that I could find even two? No way - can't GIVE the stuff away. :)
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From:axiom_1
Date:November 30th, 2004 01:27 pm (UTC)
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I've done 2 of these online casino things as well, and it really is quite safe and easy. While I've had terrible luck with my cards, I've still made an average of over $100 each evening I've spent on this. The "free stuff" part does take a bit of effort, but it's some pretty good free stuff, so it's worth it. :)

One small but important detail: make SMALL wagers, ideally the minimum. The larger the wagers you make, the more likely you are to lose money. While larger wagers won't change your long-run average much, they will change the size of your swings above and below the average, so your odds of finishing with less than your buy-in are increased.

Also, the rules of blackjack are slightly different from site to site. The expected payout ranges from above 99.5% down to just under 98%, depending on these rule variations. Most casinos actually have the expected payout for their games posted somewhere, if you look for it. That way, you can do a calculation yourself to see if you should expect to make money in the long run.

Finally, you can usually only use each casino once from each IP address, mailing address, or name, so chances are only one person in your house can do this. The second person would run the risk of being accused of scamming the site, and having their account "confiscated".

Good luck!
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From:carthain
Date:November 30th, 2004 03:30 am (UTC)
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Go ahead and send me info -- could help me pass an evening or two ^_^

Kevin was talking to me about this last week, and it sounded interesting. Perhaps a bit convoluted to get the extra free stuff, but the money sounded easy to obtain.
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From:johnath
Date:November 30th, 2004 03:34 am (UTC)
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Exactly - the free stuff is more of a chore, though I'm happy to say I just got the xbox order confirmation :) I'll email the deets on the easiest of the free money ones (as described above)
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From:kelayrel
Date:November 30th, 2004 03:17 pm (UTC)
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Ahh, but it doesn't *always* work. Chris did one of those and lost his initial investment, and he told me that Rob did as well. I'm not sure if this was the same blackjack site - it was one that you could autoplay with if that sounds familiar.
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From:johnath
Date:November 30th, 2004 03:46 pm (UTC)
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That was a different site, a rather suspicious site because of those statistically improbable outcomes, but nevertheless, yes, it is possible. On the other hand, I consider it so unlikely that as I mentioned, I'm happy to guarantee people's initial buy-in against such a catastrophe - my money where my mouth is, so to speak. I will say that I don't think I know anyone who hasn't cashed in the plus at reef, the casino in question.
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From:medlir
Date:November 30th, 2004 11:02 pm (UTC)
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I want free money. Sadly, I only have like a few dollars in quarters to my name though. :D
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From:johnath
Date:December 1st, 2004 01:11 am (UTC)
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Ah, tricky - see while I don't mind guaranteeing people's deposit against potential loss, I also cannot fund other people's attempts -- in fact I think doing so would void my affiliate agreement. But if you find a scenario in which a $200US charge against a credit card is possible for say, 2-3 weeks while you deposit, clear the bonus, cash out and wait for the bank draft to arrive, then lemme know and I'll email you the details.
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From:roaringfraser
Date:December 1st, 2004 06:06 am (UTC)
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I like free money.
Deets can be sent to jamfraser@gmail.com.

;^)
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From:jameydee
Date:January 6th, 2005 02:52 pm (UTC)

I'm game

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What the heck! Send details to jameydee-at-gmail.com.

BTW, I stumbled upon your site from boingboing.net's little blurb about sniffing out webcams.
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From:johnath
Date:January 7th, 2005 01:11 am (UTC)

Re: I'm game

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Hey, bad news, a lot of the primo deals are no more. For the remainders though, I suggest checking out ecasinodeals -- it's still quite doable to get yourself some free money and an xbox - but it'll take a little longer than it took me. Good luck, and thanks for letting me know how you found me -- god bless boingboing.
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From:pitbrown
Date:November 15th, 2007 12:18 pm (UTC)

Free money

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I think that you should work for money. There is now free money at all! I like to have some discounts or rewards on purchases with credit card. But it's the only free money that I can get...
From:(Anonymous)
Date:May 14th, 2008 10:09 am (UTC)

Re: Free money

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of course you can win 'easy or free' money with blackjack. just look at this site or blog as you wish http://the-blackjack-guide.com/ - a lot of interesting information how to win it. Go on!
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