Now that I've covered the different types of online casino bonuses, I should expose them for what they really are. Sure, they can earn you plenty of money and are usually worth accepting. But, some have too strict of wagering requirements to be worth your time. Let’s say you love to play slots. The online casino has a great welcome bonus but it’s only eligible on table games. Obviously, if you only plan on playing slot games, it isn’t worth accepting. Keep in mind that you have the right to refuse any bonus.
There are other wagering requirements as well, usually in the form of play through. This means that you must play through to a certain amount before being allowed to withdraw the bonus. A $10,000 free welcome bonus over your first few deposits may look swell, but the truth lies underneath. If you want the maximum bonus from this, you may end up having to wager thousands of more dollars than you want to. If you don’t have a big bankroll, it may not be worth it.
You see, most online casinos employ a 15-30 multiplier (x) on a bonus. For example, if you agreed to a $10 match bonus on a 15x play through, you would have to wager at least $300 before a withdrawal. Here’s the formula: $10 deposit + $10 bonus x 15 = $300.
Other types of bonuses have even higher play through requirements. No-deposit bonuses, which offer free money with no deposit, generally have around a 30x play through. For a $10 no-deposit bonus, you would still have to wager $300 (30 x $10) before withdrawing any money. On top of that, no-deposit bonuses are usually limited to tables games and not allowed on progressive jackpots.
In summation, remember that you can refuse any bonus. It may sound crazy to deny free money but they will get you in the end if you can’t afford it. With that in mind, always gamble within your means. Stick to your bankroll and don’t chase your losses. That’s what leads to problem gambling.
Friday, January 21, 2011
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