Yeah it's 50% more for every mob kill, because the mobs normally always return a set amount of xp. As opposed to loot, which they are not necessarily guaranteed to drop, so in that case it's only a 50% modifier to what they'd normally drop. I was farming bone chips during bonus loot, and the skels would drop anywhere from 1 to 4 chips, because normally they drop 2 max and each of those 2 has a 50% chance to drop another.
The 100% christmas bonus they did is what people refer to as "double loot" because in that case it literally is double. If a mob drops a guaranteed item they will always drop 2. If a mob normally drops 3 items they will drop 6 etc.. Although I think some mobs are coded to be exempt from loot bonuses?
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