Wagering Requirements & Terms and Conditions Explained
- Variety – Bonuses are not reserved for new customers, with bonuses being available for existing players from time to time, based on their activity. Such bonuses enable players to extend their gameplay and work towards additional payouts.
- Testing – Bonuses also provide the perfect platform to test casino games on, no matter whether you prefer slots, table or live games.
- Wagering Requirements – While bonuses often appear to be hugely generous, the fact is that the majority come with wagering requirements which make withdrawals more difficult. Whether it be the amount of times in which winnings must be wagered or the timeframe in which players have to do so, such conditions differ from casino to casino.
- Payout Limits – Some bonuses also come with payout limits surrounding them, meaning that 100% of your winnings may not be available to withdraw.
- Time – Some bonuses will have an expiry date, meaning that players have a set period of time in order to meet the terms and conditions.
New Player Welcome Bonuses
Offered by casinos in an attempt to attract players into registering, such bonuses generally consist of new customers having to sign-up and deposit funds for the first time, before receiving something in return, whether it be cash or free spins.
Free Spins
Despite not being a cash bonus, free spins still offer customers the chance to play games without investing any of their own money. While free spins are only available to use on certain slot games, winnings are still able to be withdrawn, once any wagering requirements have been met.
No Deposit Bonus
Perhaps the most generous form of bonus is a no deposit bonus, which is offered by a small number of casinos at times. All that is required is for players to register an account, with no deposit needed, as the name suggests. Promo codes may be required however.
VIP or Loyalty Bonus
Some online casinos will have VIP or loyalty schemes in place, perfect for those who consistently stake their own cash on games. Points are accumulated, which are then able to be turned into cash to use on casino sites.
High Roller Bonus
For those who are looking to stake large sums of money on casino games, high roller bonuses are well worth utilizing. Deposits are matched up to as much as $2,000 in some cases, meaning that customers can take advantage of a significant opening account balance.
How do Online Casino Bonuses Work?
When it comes to explaining just how online casino bonuses work, it is important to take into consideration a number of factors, including the following:
Wagering Requirements
This is the amount of cash that must be made from a particular bonus before withdrawals can be made using it. Depending on the casino, the bonus amount and winnings must be wagered anything between 10-50 times.
Game Percentages
When it comes to fulfilling the wagering requirements surrounding a bonus, different casino games will contribute to different degrees. For example, should a game contribute to 50%, players must wager twice the amount.
House Edge
This is basically the percentage of bets in which the casino will keep in the long term. For example, should a game have a house edge of 5%, this means that the casino will expect to make an overall profit of the same amount. House edges can range from anything between 1-50% generally speaking.
Along with the wagering requirements already discussed, the following are among the other terms and conditions in which players must consider before taking advantage of online casino bonuses.