Almost all online casinos offer bonuses to their players. As online casino gambling has become more popular, more and more online casinos are being launched. There is a lot of competition among online casinos, which is why they use bonuses as a means of attracting new customers and keeping current ones. Many of these bonuses may seem tempting, but always keep in mind that there are conditions attached to them. You have to do your math before accepting any bonus offers from online casinos that suit you.
The wagering requirements are the limits and conditions that are placed on online casino bonuses. These wagering requirements will set the amount of each game in order to meet the bonus conditions. They will determine how much you need to wager before you can withdraw your winnings and will determine the type of bonus you are accepting as regards the amount of the bonus that can be withdrawn or not. Until you are able to meet the bonus wagering requirements, you will not be able to withdraw. The wagering requirements differ between casinos and bonuses so you should read carefully and make your own calculations before accepting the bonus.
Casino Bonus Types
There are many types of casino bonuses. Some online casinos may offer a large variety of bonus types, while others may offer a limited selection. Some of the bonuses that can be encountered are no deposit bonuses, welcome bonuses, reload bonuses, friend entry bonuses, alternative payment method bonuses, VIP bonuses, and professional bettor bonuses. It will be necessary to do well the accounts on the bonuses to understand if they are, in reality, advantageous for the player.
Welcome bonuses are the most common form of bonuses. They are awarded to players when they make their first deposit at the casino. These bonuses are typically a percentage of the deposit amount up to a certain amount. For example, it is common to receive a 100% deposit bonus of up to $ 100. For a bonus like this, the wagering requirements can set a 30x game condition. This means that you will have to wager $ 30 x $ 100 = $ 3,000 before you can withdraw your winnings.
When to Accept a Casino Bonus
Whether or not to accept a casino bonus is subjective. It depends on how much you want to play at the casino and how you are going to play. If you are only planning to play for a short amount of time at the casino, it is unlikely that you will be wagering the amount required to be able to withdraw your winnings. The same is true if you have a reduced funds. Also, casinos generally limit the games that can be played in order to meet the wagering requirements.
Roulette is often not accepted so if this is your favorite game, the casino bonus won’t come in handy. On the other hand, if you intend to play at the casino for a long period of time, then the casino bonus can be very useful to you. Casino bonuses, when used optimally can be seen as free money that you can use to play at the casino and really increase your resources.
Let’s take a look at the slot game with an average payout of 95%.
If you play with the $ 100 bonus, you will find that you are only able to make $ 2,000 worth of bets before you run out of the bonus – $ 100 / (1-0.95) = $ 2,000.
Looking at it from another point of view, if you make the $ 3,000 worth of required wagers, you will actually find that you are behind $ 150 – $ 3,000 * (1-0.95) = $ 150. In other words, not only will you have lost the entire bonus amount, but you will have lost another $ 50 from your pocket.
In this case, it would not be profitable to accept the bonus. These equations should be made for every bonus that is offered to you by an online casino so that you can be sure that you are making a reasoned decision on whether or not to accept the bonus.
Types of Casino Bonuses
There are different types of casino bonusesand these determine the amount of the bonus that can be withdrawn. One type of casino bonus that is growing in popularity is the removable bonus. An unusual variant of the bonus is the money back bonus. Here we will briefly look at each type of bonus.
Removable Bonus Removable
bonuses are also known as ghost bonuses. The bonus amount cannot be withdrawn – it remains “stuck” in the account until it is lost, or is canceled with the first withdrawal disappearing like a ghost. If you play these tricky bonuses, you will have a chance to get out early.
A brief look at the removable bonus math tells us that you have a 50% chance of winning. It is recommended that you set the amount you want to win. For example, if you deposit $ 100 and receive a bonus of 100 and want to increase your game account up to $ 200, the probability of success is ($ 100 + $ 100) / $ 400 = 50%. The real casino bonus value for you would be (100 +100) / 400 * (400-100) -100 = $ 50. These calculations are for casino games with no mathematical hope of winning. In real casino games, the results would be less favorable.
Bonus with money back
A money back bonus is a refund of losses and is commonly a partial refund for a specified period of time, say 20% in a week. In other words, the money back bonus is a loss payback that is paid out by the online casino. This means that if you lose $ 50, with a partial refund of 20%, you will get back $ 10 or actually lose only $ 40. This then increases the mathematical hope by up to 0.4%.