Online casino bonuses are a fantastic way to play a new online casino. They are useful to check out the casinos user experience and game selection. Many players make the mistake of thinking casino bonuses will make them a small fortune. They are not. Casinos design bonuses to ensure they do not suffer losses or attract bonus hunters. So how do casinos protect themselves against significant losses, and at the same time offering a great bonus to entice new players?
Wagering requirements are the number of times a player must play through or “wager” the bonus amount to turn it into real withdrawable cash. Wagering requirements are expressed as a number followed by “x”. For example, “30x wagering” means you need to wager/play $350 when depositing $10.
Wagering stakes on Games
The wagering stakes on games is vastly different, meaning that when you are working towards your wagering requirements, various contributions apply to different games or game types. If you have a wagering requirement of 35x and the game wagering stake is 100%, using the above example, you would need to wager $350. However, if the game stake is 10%, you would need to wager ten times more to complete your wagering requirement. That is $3,500.
At Casumo, the wagering stake on slot machines is 100%, Video Poker 30% and Roulette (all kind) 0%. You would need to wager $350 when playing slots, $1,167 when playing just video poker and roulette contributes nothing to your wagering requirement.
To release any funds into an account wallet, players need to complete the wagering requirements first. Once payers have done that, all funds are available for withdrawal.
The best way to get around wagering requirements is to play at “no wagering casinos”.
777 Casino have compiled a list of the best no wager free spins, view them here.
Country of residence
Country of residence determines the kind of bonuses which are available. UK residents hardly ever see no deposit free spins bonuses anymore. Whereas residents of Canada enjoy more no deposit offers. Some countries, like Sweden, are not offered any bonuses whatsoever due to government regulation.
Expiration of bonus
New player bonuses do expire. Wagering requirements need to be completed prior to the expiration date. The most common expiration date is within seven days, but some online casinos will offer 14 days or 30 days to wager the bonus. If you don’t wager within the expiration date, you will lose the bonus and any losses accrued will be debited from your deposited fund.
Spin value directly relates to free spins offers. The free spin will usually have a minimum value of $0.10. This immediately limits any winnings. Where the bonus is a match percentage bonus, a typical clause is
When receiving a bonus the maximum allowed bet is £5 per spin until the wagering requirements have been met. In the event that bets of larger amounts have been made All British Casino reserves the right to forfeit the bonus and any winnings,
All British Casino.
There is also a maximum bonus winnings amount at some casinos. Even after you have fulfilled the wagering requirements spinning through minimum spin value, there are limits to actual wins. For example, All British Casino include a general statement that the maximum withdrawal amount is dependant on the bonus. When using the bonus spins bonus, players can withdraw a maximum amount of £100 and any balance exceeding this amount will be removed from the account.
Bonus abuse clause
The bonus abuse clause is highly subjective. It could be argued this is a get out of jail card for operators as they can claim bonus abuse for just about anybody. Casinos will include a clause which states that the bonus is restricted to one casino account per person, family, address, household, credit card number, email address and shared IP address where shared computers are found. The clause is designed to protect casinos against bonus abusers.
Bonus significant terms
Now you know the main bonus terms, lets take a look at a real example from LeoVegas.
New customers only. Opt in via the “My Offers” page within 14 days of registration. Free spins have a $0.10 value each, winnings paid as cash. 7 day expiry. 35x wagering requirement. Not all games contribute towards wagering. Full T&Cs apply. 18+
If you sign up on 1 January and deposit $100 you will need to wager $3500 by 15 January. Spins will be worth $0.10 value each and you should check the specific wagering stake on games, and if your country is eliglbe for the bonus. Also, as stated you need to be a new player (bonus abuse clause) and aged 18 + to play.