Most people believe that if something sounds too good to be true it usually is. That old adage for the most part is true. Very rarely when offered something for nothing do you really get anything worthy of your time. But there are exceptions and online casino bonuses are one of them.
Many times, businesses will offer incentives in order to get an individual to purchase their product or be a member of their club or organization. Many companies offer 2 for 1 deals or gifts with purchases as an incentive.
What is a casino bonus
This is exactly why online casinos offer bonuses and incentives such as free spins to its new members. The incentives offered are things like deposit bonuses whereby if you deposit an amount of money into the casino they will match that amount. For example, if you deposit $100, they will offer you a further $100 to play their games.
This is a pretty standard bonus and most if not all casinos will offer these types of bonuses on your first deposit, and then on a smaller amount on subsequent deposits. An example is 50% bonus on very deposit made after the first deposit. Some casinos use a different formula and strategy for their bonuses, and offer $80 for $20 deposits or some other variations. You really have to do your homework and see which casino is offering what at any given moment of time.
Another popular incentive that many casinos offer is to allow the player a certain number of free spins on a specific slot machine without the player having to deposit anything upfront at all. The spins are 100% free and have virtually no strings attached. You do not have to deposit anything in order to receive these free spins. Some casinos use varying degrees of incentives such as free amount of scratch cards rather than free spins on a particular machine and so on.
A casino is a business and like any other business, it needs to stay profitable in order to operate for years to come. In order to prevent an individual from signing up for the deposit bonus and then simply withdrawing the entire amount immediately, the casino requires that you wager that money a certain number of times before you are allowed to withdraw it. The same holds true for any money won when a client a takes advantage of the free spins offered by an online casino.
The term used for this system is called “turnover” or “play-through” and the amount of wagering and time needed to unlock that essentially free money varies from casino to casino.
Typically, a casino will require the player to wager the bonus money a particular number of times as stated above, for example, if you receive 100% matching bonus of $100 for $100 deposited, you will have to wager that $200 at least 20x before you can withdraw it. This means that you will have to place wagers in excess of $4000 before being allowed to withdraw your winnings.
This amount varies from casino to casino but there will almost always be a requirement of some sort. Another point to remember is that many casinos will not allow you to reach that wagering level at games with a very high rate of payout such as blackjack or roulette, or alternatively they will allow you to wager on those games but the play-through rate will be substantially lower than if you played slot machines.
There are a lot of bonuses that can and do improve your experience when playing at an online casino. Do your research and find the casinos with the best bonus and structures that appeals to you and then let the fun begin.