It doesn’t take a genius to figure out that the online casino industry is growing at an alarming rate. New online casinos are cropping up everyday, while new development projects are constantly in the pipeline. As the marketplace becomes increasingly complex, online casinos are looking for new ways to attract customers. One way in particular that has seemingly become more popular than any other is the “casino bonus”. These “free money” offers are designed to allow new players to try out the casino without putting their money at risk. But are casino bonuses as simple as they seem? Or is there something more sinister lurking within their terms and conditions?
While on paper these casino bonus offers look almost fool proof, upon closer inspection you’ll see that they’re anything but. This is because they come loaded with countless terms and conditions, some of which definitely don’t favour the player. The most common condition attached to casino bonus is a “wagering requirement”. This relates to how many times you would need to gamble a free bonus amount in order for it to become cashable.
Looking at an example, say an online casino offers you a welcome bonus of up to £100, the “up to” term is something to focus on. Such phrase implies that you may not receive the full £100; with there being a term related to such within the bonus conditions. This term is usually spelled out by “based upon the player’s activity level during the first month of play” or something similar. This means that in order to access the full bonus you need to engage in a tiered wagering requirement system. For example, bet £20 and you’ll get a £20 free bonus, then wager more with 30 days and you’ll get access to more of the £100 bonus amount. Bonus through such means require you to part with more cash, which is something many people may not have bargained for.
Another example of hidden casino bonus conditions comes through the common “100% Matched Deposit Bonus”. The bonuses are usually unknowingly limited, for example you may find that your bonus is matched, but only to a low level such as £50 or £100. These offers are all one-time deals, while they often have very notable wagering requirements attached. This usually means that before you can withdraw any bonus funds or related winnings, you must gamble such amount a set number of times. In most cases this will mean 20x or more, which really means the odds of you getting money out of the casino bonus are slim at best.
While the aforementioned are becoming increasingly well known, a new more sinister condition is being snuck into online casinos bonuses. This new condition works to control player’s accounts to a ridiculous degree. Say you deposit £100 and are given a matched bonus of £100, under these new terms you will not only have to meet the wagering requirement with your £100 bonus, but also your initial £100 deposit as well. In an instance where your wagering requirement is 20x, you would need to bet an equivalent of £4,000 to gain access to your initial deposit and bonus.
Wagering requirements are seldom promoted and often hidden, putting players at a disadvantage right from the outset. If you are looking to snatch up a casino bonus, it pays be diligent. Find the best deal by doing your research and always spare thought for the wagering requirement involved. Because if you don’t you may find that you are not just waving goodbye to any chance of making profit from casino bonus, but also you initial deposit as well.