It’s common for online casinos to advertise their bonus offers and other freebies which would often involve “free money” for new and existing players alike. However, like almost everything in the world, there’s no such thing as truly free. The bonuses that most virtual gambling websites offer aren’t truly free. Most of the time, there are conditions that a player has to fulfill in order to use the bonus or withdraw any earning.
If you’re wondering why online casinos tend to offer “free money” via bonuses, it is part and parcel of their marketing strategy— a way for them to differentiate their site from what other online casinos offer. While there are thousands and thousands of virtual casinos that you’ll find online— in reality, they are just but “fronts” of their respective software providers.
So, while the licensing, graphics, owners, and other site details may differ, there might not be that much difference between all casinos that are powered by Microgaming or all those that are partnered with Playtech.
The next thing you need to consider is the specific bonus offer that a casino may be offering. If you think that you can just find a website with the highest bonus offer, take the money, withdraw it and then look for another online casino again, think again. Virtual casinos are very much aware of this particular mindset among players and have put in place certain restrictions on the way their bonuses can be claimed and used to prevent players from just taking advantage of them.
To claim a bonus, most virtual casinos require a player to make a deposit first, except for those instances when it is not required. However, the requirements don’t end there… Japanese online casino researchers at Casino Rank helped us in compiling a list of things you might need to fulfill before you can fully take advantage of any casino freebie.
It’s common for bonuses to have playthrough or wagering requirements. This has something to do with the amount that you need to play before any winning on your account will be eligible for withdrawal. Wagering requirements can range from 15 to 40 times. You do need to take note of the amount you’re required to put as a wager as this can amount to some very hefty figures.
In most cases, it will be the bonus amount plus the wagering requirement. So, for a $100 bonus with a wagering requirement of 15, you’ll need to wager at least $1500 before you will be allowed to withdraw any winnings on your account.
Certain online casinos may restrict the games that you’ll be allowed to use the bonus amount for. If there are specific online casinos that you are familiar and interested with, it matters that you first find out whether they are part of the games that you’ll be allowed to bet on using the bonus offer. Otherwise, there would be o point for you to accept a freebie if you cannot use it for playing the games that you would love to play in the first place.
Also, take note of how much of the amount you win will be considered as part of the playthrough requirement. While some games may count 100% of your earnings towards the playthrough requisites some may only count a specific percentage only. So, do find out what the real score is ahead of time.
Another requirement that online casinos may ask of their players when taking advantage of a bonus offer is a minimum deposit. While most of the time, the figures involved will be a small amount, there are also instances when you will be asked to deposit an amount equivalent to the amount of bonus that you are getting.
While there is a reason to be happy about getting offered a bonus when signing up with an online casino, it is also important to temper that excitement over the fact that what you’re getting isn’t truly free understanding the requirements and determining whether you can meet these requirements is crucial before considering whether to accept the offer or not.