You may be excited about receiving online casino bonuses such as a deposit match or free spins. They can stretch your bankroll and allow you to play for longer, which gives you more opportunities to win. In your excitement, you can’t afford not to pay attention to the terms and conditions that apply to bonuses.
Casinos offer bonuses to attract and retain players, but they would go bankrupt if you could withdraw bonus money without playing. Bonuses have various restrictions that can cause frustrations when you try to withdraw your winnings.
Wagering requirements
When using an online casino app to play gambling games, one of the major benefits is the bonuses and promotions on offer. However, you should be aware of the wagering requirements that come with bonuses.
If you have a wagering requirement of 40x on a bonus of $100, you must wager $4,000 before you can withdraw your winnings. The higher the wagering multiplier, the less mathematical value your bonus will have.
If you exceed your maximum bet limit while you complete the wager, it can void all your bonus winnings. The commitment to wager a certain amount depletes your original deposit.
A winning ceiling
Some bonuses have a maximum withdrawal limit, even if you meet all the wagering requirements. No matter how much you win, you can only cash out a predetermined amount. This puts a ceiling on your potential profit, which can be a challenge if you’re trying to earn money online. A casino might limit bonus withdrawals to five to 10 times the bonus amount. You will automatically forfeit any winnings beyond the ceiling when you request a withdrawal. It’s only if you’re a VIP player that you may receive no caps or higher caps as a loyalty perk.
Time limits
It can be disappointing to find out you have a time limit within which to complete all the wagering requirements. This can pressure you to play more often and at higher stakes. When you accept the bonus, the countdown starts, and it becomes more difficult when you not only have a time limit but also high wagering requirements. You may take more risks, which can result in losses and put paid to any of your quick cash ideas.
Different wagering requirements
Slot games have the highest advantage to the house and can return up to 97%. A 30x or lower playthrough can flip these games in your favor. Lower wagering requirements usually apply to no-deposit offers and higher ones to deposit matches.
If you play a table game like Caribbean Stud Poker to clear the bonus, only 20% of the wager may go towards the wagering requirement. Blackjack games may only count 10% towards the wagering requirement. Baccarat, roulette, and crap games usually don’t contribute to clearing a bonus.
Careful research matters
Every bonus has unique terms that can affect its real value. What seems to be a very generous deposit bonus match may be less valuable in reality than a smaller bonus with more favorable conditions.
If you compare bonuses and their terms and conditions across various platforms, it can be revealing. Some casinos are transparent about the terms and conditions attached to bonuses, and others can hide them deep within the fine print.
Tips when claiming bonuses
Never deposit more than you can afford to clear. You should always calculate what value you can expect from a bonus based on its terms rather than just focusing on the advertised amount.
Divide the wagering requirement for a game by your average bet. This will tell you how many spins or hands you must play to satisfy the wagering requirement.
Make sure you know what the time limit is for a bonus and when it expires. You will lose money if the bonus expires and you haven’t met the playthrough requirement within the specified time frame.
