Players at online casinos are facing an unprecedented variety of bonuses, designed to incentivize them to process a real-money deposit and continue gambling with a particular gaming operator. Bonuses can indeed be quite useful since they enable one to try qualifying games at no cost and build a bankroll without risking their own money only.
However, the adage “There is no such thing as a free lunch” applies in full force to online casino bonuses as well. In other words, you cannot receive something without giving back in turn and most casino bonuses are not an exception. Participating players are facing a whole rigmarole of meeting all the bonus terms and conditionals until they finally have their bonus funds and winnings released from their balance. Continue reading as we shed more light on 5 of the biggest downsides of online casino bonus redemption.
Wagering Requirements are in Place
Online casinos have introduced what is known as wagering requirements and this is their way of warding off any attempts at promotional abuse. If it wasn’t for the wagering requirements, most players would claim a casino bonuses from BonusInsider.com, cash it out immediately, and skip to the next online casino on their list, redeeming yet another bonus.
To fend off such a behavior, the casino would normally require you to wager the bonus amount a predesignated number of times before you can cash out the bonus and the profits generated during free play. Wagering requirements vary between casinos, but normally revolve around 30x to 40x the bonus amount. The bonus terms should be read carefully, and even re-read, if necessary, so that you can get a good enough idea of the conditions you must comply with before your withdraw.
The complexity of the promotional terms’ phrasing does not help much, either. One of the things you should be on the lookout for is whether the requirements cover the bonus plus the deposit amount. A promotion with a 30x playthrough on the deposit plus the bonus amount practically has wagering requirements of 60x.
Some bonuses are impossible to withdraw even after you have cleared their wagering requirements. These are known as sticky bonuses because the free credits the casino grants you are “stuck” into your bonus balance and remain there until you clear your playthrough. Once this happens, the bonus amount is automatically forfeited by the gambling site as you are permitted to cash out only the winnings you have accrued with your sticky bonus. In contrast, cashable bonuses are far more beneficial for gamblers because they are released from the bonus balance along with their associated profits.
Limited Timeframes to Cover the Wagering Requirements
The biggest trouble with the bonuses’ wagering requirements is that they must be met within a designated timeframe. In other words, bonuses remain active over a short period of time only, and if wagering is not met within this period, the bonus is again declared void and forfeited by the casino. Said period fluctuates from one casino to another.
Some gambling websites give their customers an entire month after the bonus’ redemption to meet the wagering conditions. However, some players are granted only a week to comply with their bonus’ wagering. If the requirements are high enough, such players would fail to wager the bonuses the stipulated number of times, causing them to have their bonus funds and winnings removed from their accounts.
Another common issue where promotions are concerned is that you may not be allowed to claim a bonus at all. Some gambling operators are happy to accept the betting action of players from some countries but at the same time exclude them from bonus participation. Before you register an account with any online casino, it would be a good idea to first read the operator’s terms and conditions in detail as cumbersome as this may sound.
This will help you figure out if there are country restrictions on bonuses and if customers from your country are allowed to redeem bonuses in the first place. If perchance, the terms do not include country restrictions, you can get in touch with support to request more information.
Betting and Payout Restrictions
Depending on the type of bonus you claim, you may be subjected to certain payout and betting restrictions. This usually applies to bonuses of the no-deposit kind where you are given free funds or free spins simply for opening a real-money account. With free spins, the amount you can wager per round may be restricted and increasing your stake would lead to bonus forfeiture.
The same can sometimes be said about the winnings you can cash out from one such no-deposit bonus – these, too, may be restricted to a smaller amount, say $50 or $100. Sometimes when you have an active bonus in your account, the casino may choose to prohibit you from making certain types of “low-risk” bets, like the even-money wagers on roulette, for example. The casino also has a right to exclude some game types from wagering contribution, which is to say your active bonus will again be forfeited if you wager on prohibited titles.