Casinos are constantly creating strategies to tempt new gamblers to their platform as well as retain the loyalty of their existing members. Many players are unaware of the casino bonus costs and end up frustrated with the online platform. Besides, there are no malpractice laws designed in terms of casino bonus offers.
The thing to keep in mind is whatever bonuses the casino offers be it free play, free spin, or welcome deposit the player will convert them into real money. To withdraw the money won using a bonus, the player has to fulfill wagering requirements connected to the bonus. There are stipulations attached to the offered bonus like wagering several times.
Clovr is a BTC review site that displays welcome bonus packages offered on multiple gambling platforms. Understand the bonus costs of different online casinos first to determine if your decision to use the free spins and deposit is worthy or not.
Understand casino bonus costs
Consider several factors while conjuring the bonus cost.
- Betting requirements – The number of times deposit or bonus plus bonus needs wagering before the withdrawal. It differs from one casino to another. The majority of betting requirements are 35X bonus + deposit but there are some with low requirements.
- The betting percentage that a specific game offers after fulfilling the gambling requirements – For example, online blackjack or roulette gives low percentage than slots.
- House edge – It is the percentage of the total bets that the gambling platform retains for a specific period. It means if the house edge is 5% then the casino earns 5% profit from the game for a specific period. Online blackjack games have low house edge than others.
Important points to consider while accepting online casino bonuses
Casino bonuses can either have you walk away with a loss or a profit. It is not how much you wager or whether you need to bet on the black or red in roulette. It is something that is most important but ignored by the majority of players.
- Deposit bonuses – It is a strategy to attract new players to register with specific terms & conditions.
- T&C differs – Even if the offering is the same as 100% Match Bonus on multiple platforms, you will need to check the wagering requirements. High wagering requirements mean reconsidering the option.
- Bonus offers will tie your deposit money – On a 100% Match Bonus, you deposited $100 and got a total of $200 in your gambling account. Even if you wager the entire amount and won, the casino will not allow withdrawing until the wagering requirements associated with the bonus are fulfilled.
Should you gamble with the bonus?
You will need to consider several aspects like the game you chose to play, a house edge of that game, and wagering requirements.
For example, you came across a 100% casino bonus with 10 times wagering needs and no game restrictions. It is an excellent offer because if you deposited $150 then with the 10X wagering requirement, there will be a need to bet on a total of $1500 before making a withdrawal. Choose a low house edge game like blackjack and you can fulfill the wagering requirement with ease and make a profit.
Understand which online casino bonuses add value. Remember big bonus is not equivalent to the best value because the wagering requirements are also high!