A lot of online casinos offer bonuses and promos meant to attract new players and retain the existing ones. These rewards come in various forms: welcome bonuses, loyalty promos, cashback, no deposit bonuses, etc.
But the stone-cold truth of the matter is that these offers aren’t precisely free cash. In fact, they are marketing strategies. When an online casino offers you a reward, it requires you to open an account, deposit, and spend plenty of time playing its games.
A casino may risk its money through bonuses. But that is not always the case. It has got means to minimize the losses by setting specific gaming rules that every member should satisfy. In this article, we will help you learn math they apply when offering casino bonuses.
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Casino bonuses are a better way to boost players’ bankrolls without having to fork out their own cash. While they are incredibly alluring, they don’t come with a catch. There are strict wagering requirements players should satisfy before withdrawing the accrued winnings.
In fact, wagering requirements are one of the fantastic strategies most casinos create to minimize their losses. Think of this: you are awarded a bonus of $100. You use the offer to play roulette and win a lump sum of $20,000.
For players, this is free cash. And for the casino, it is a massive loss. And now imagine if all players win something from the bonuses offered. Casinos will go broke.
That is why casinos have wagering requirements. However, this depends from one casino to another. A casino may have a wagering requirement of say 5 times to 40 times. For instance, if you claim a bonus worth $100 with 20 times play-through, you need to spend $2000 before withdrawing any profit.
In most cases, it is pretty impossible to win such cash, and you may end up losing it. And the casino may eventually recoup its cash.
However, there are other casinos that offer generous bonuses with minimal wagering requirements. The casinos at https://www.thesportsgeek.com/online-casinos/bonuses/no-deposit/ are excellent examples. Not only do they offer no deposit bonuses, but they also have fair wager terms.
This is another brilliant way casinos minimize losses from their free bonuses and promotions. In fact, every online casino has set its own limit on the amount of funds players can withdraw. Alternatively, they have set cashout limits depending on the type of bonus and the players’ loyalty.
In many cases, no deposit awards tend to attract the least withdrawal limits. You will find them ranging between $100 to $500. On the other hand, deposit bonuses attract higher withdrawal caps, about $1000 to $5000. Or sometimes no limits at all.
For this reason, it is a good idea to go to a casino with a generous withdrawal limit. Perhaps you can be lucky and win a $20,000 grand prize. That is when you wish your operator didn’t have a withdrawal limit.
Validity time frame
It would be cool if bonuses didn’t have an expiry date. Players could log into their accounts, claim the bonus and use it the way they want. Unluckily, nearly all online casinos have a validity period for their promotions.
For no deposit bonuses, most casinos have a validity time frame of 1-7 days. On the other hand, deposit bonuses can remain valid for up to 45 days, depending on the casino.
It is also worth mentioning that there is a validity period for satisfying wagering requirements, usually between 30 to 90 days.
In light of this information, it is advisable to choose a casino with an extended validity time frame to allow you to try your luck. Otherwise, you may fail to satisfy these conditions within the set time and end up losing the bonus.
The amount of bonus offered
The amount of bonus awarded depends from one casino to another. The limits also depend on the type of bonus, how much you deposit, and whether you are a VIP client or not.
That said, no deposit bonuses usually attract a small amount. Say, $10 to $50, but hardly above $100. You may be wondering why it is small. It is because this bonus doesn’t require players to make deposits in order to claim them.
This is a free reward in exchange for creating an account with the casino. It is a promotion you can use to play games and sometimes win real cash without linking your debit card. That is why casinos keep it small to minimize their losses.
On the other hand, deposit bonuses have huge promos. In most cases, you can find them ranging from $50 to $500. And even to $1000, depending on the casino.
Restrictions on the games to play
Even if the bonus comes in a small amount, there are certain games you can play and win a jackpot. Imagine progressive jackpots such as Mega fortune. It is a game that can pay out huge cash, up to $1 million with a simple $20 play.
For this reason, casinos restrict the games gamblers can play with the bonus offered.
Additional bonus restrictions
Because bonuses are free, there are players out there who want to take advantage of them. But casinos have cottoned to that. And to avoid this, they have ensured players claim the bonus only once. Thinking of grabbing the bonus more than once is breaching terms and conditions.
Another additional rule is that players to make payments via a certain banking system to claim the bonuses. These bonuses are mostly linked to payments made via PayPal, Visa, and MasterCard.
As you can see, casinos risk a massive amount of money through giveaways. But you are still shocked why they keep giving out these rewards to both new and loyal clients. To avoid losing a lot of cash, they have set restrictions which we have discussed above.
They have set wagering requirements, maximum withdrawal limit, and the amount of bonus you can claim.
And that is it, folks. You have now understood the essential math behind the casino bonuses.