They are sold to gamblers as free money and if you’ve ever opened an online casino account you would have encountered them. But casino bonuses are seldom as simple as they seem once you take a look behind the curtain. The legitimacy of these bonuses is regularly called into question, with the phrase “if it’s too good to be true, it probably is” counting for a lot. The following looks in-depth at casino bonuses and asks the age-old question of what catches lie behind casino bonuses?
Online gambling is big business in today’s Internet driven world, so you can expect online casinos to fight tooth and nail to get a hold of your business. The easiest way for them to do this is to give you something for free. Casino bonuses are what are generally offered, but many wonder how these online casinos are able to give out “free money”. The answer to this simple, as in most cases the casino gets this bonus back from the gambler ten times over in real money. Online casino games always favour the house, that is common knowledge, but what many don’t know is that such bonuses also have requirements that further the casinos ability to recoup bonus funds.
Let’s take a look at a standard casino bonus offer and dissect what the “free money” offer really entails. The most common bonus you’re likely to come across is a first deposit bonus; they mean that the casino will match your first deposit with the same amount or more in bonus playable funds. The trick within first deposit bonuses is found within the cash amount itself. You may find that most online casinos invoke maximum bonus limits. For example, one site may only offer you a 20% matched figure that could have a bonus limit of £200, while one offering a 200% matched bonus could only have a maximum bonus limit of £100. The lesson here is simple; don’t get fooled by big numbers, as they don’t always represent the best deal.
If you spend anytime online you are likely to see banner ads for online casinos with the term “No Deposit Required!”. On paper what is there not to love about a casino bonus that doesn’t require you to part with any money, but in reality those ads aren’t telling you the whole story. They will actually provide you with the funds to gamble with, but cashing out the money you win through such isn’t easy. The issue being that you must make a certain amount in order to have access you funds for withdrawal. For example, if you received a £10 no deposit bonus, you may have to make £50 or more in winnings in order to make a withdrawal.
The above has looked at two independent elements (or catches) of casino bonuses, but the most noteworthy issue happens to cover both. Wagering and playthrough requirements are what is going to hamper you most when it comes to online casino bonuses. The reason being that is you don’t sign up to one that is favourable in such area (20x or less), you may find yourself have to gamble with your bonus so many times that it is made almost unattainable.
Casino bonuses can be great, but to say that they are “free money” is a rather large overstatement. You are never going to be allowed to win big from them and simply cash out. Looking at casino bonuses in detail show that the online casinos put plenty of restrictions in place to make sure that they are introductory tool and just that.