If you are one of the many individuals that have delved into the world of online gambling, you have without a doubt ran into some kind of bonus offer. In fact, if you look under the surface, you will see that each casino offers bonuses that seem more rewarding than the casino before it. These casinos use the bonuses to keep current players engaged as well as attract new players. Is there a point when these offerings are just too good to be true? If so, what are the true costs of using them?
Know The Different Types Of Online Bonuses
Many online gamblers operate under the assumption that one of the greatest advantages of online gambling is the bonuses. These bonuses are not something that would normally apply in the land-based realm. Needless to say, those casinos were soon milking the market with these online bonuses. One casino would offer a bonus that would appeal to certain gamblers, while other casinos would offer bonuses that would appeal to other gamblers.
This eventually led to some pretty creative offerings like welcome bonuses where gamblers would earn money just for signing up with the casino and making a deposit. Another bonus that is commonly offered by a number of online casinos is the no deposit bonus. This bonus simply allows players to join the site without making an initial deposit.
Know The Wagering Requirements
It doesn’t matter if a player is going after a no deposit bonus, a signup bonus, free spins, or match deposit. The main goal of any casino bonus is to eventually turn it into real money. This is when the real cost of these bonuses will become apparent. Each casino out there will offer different wagering requirements before the player can actually withdraw money on that bonus. Simply put, most online casinos will try to use the wagering requirements to get you to spend more of your own cash before you can collect on the rewards of the bonus.
For instance, if you are granted a $20 match bonus, you might have to wager three times that amount before you can withdraw on the initial bonus offering. The more you spend, the less likely you are to walk away a winner. On a much smaller scale, this would be like hitting the biggest jackpot of your life and then betting it all away in the next hand.
Understand The Percentage Of Game Contribution
There is also another caveat that can come into play with online bonuses. And, this is the percentage of game contribution. You just learned above that most casinos require you to wager anywhere from twice to triple the amount of the bonus offer. Well, it doesn’t end there. Only a percentage of each wager goes towards that wagering requirement. For instance, if you are wagering $50 and the casino offers a percentage contribution of 50% it means that only $25 of that bet would contribute towards the wagering requirements. This simply goes back to the old theory of the more you bet, the more likely you are to lose.