Seven Things To Know Before Accepting Bonus Money From Online Casinos
Casinos are popping up almost daily on the internet these days, and all of them offer some kind of incentive to recruit new players. Bonuses for new deposit players, daily bonuses, refunds of losses incurred, monthly promotions, and compensation rewards are just a few examples of what is now on offer. However, before opting for this bonus, you should learn more about the terms and limitations that the casino has set. After gathering all this information, you can make a better decision about whether you want to take advantage of the bonuses on offer.
1) First and foremost, you should look carefully at the types of bonuses that your casino offers. Almost all casinos, such as Lucky Live Casino, have some sort of “Initial Deposit Bonus”, which will pay out a percentage of your first deposit, up to the amount you deposited . previously determined. For example, Smart Live Casino offers 150% on initial deposit, up to £300, or Lucky Live Casino offers 100% on initial deposit up to ?? 100. You will also find bonuses that are paid for deposits made by existing players, or monthly promotional bonuses that offer bigger bonuses for a certain period of time. Most casinos also offer “friends” bonuses, such as “Refer Friends” which pay for each player you bring to the casino, or Comp Rewards for players who play the casino regularly.
2) Some of the bonuses may sound pretty good, but you will find that you may be limited in the number of times they can be claimed. A good example of this is the Sign-On Bonus, which is only offered when a player makes their first deposit at the casino. After the first deposit is made, this bonus is no longer available, even if you have to change your mind. At this point, your best bet is to look into a “second deposit bonus” or “Compass Points” rewards program. These bonus offers are usually available for many, or all, subsequent deposits. Referral Friend Bonus is almost unlimited, and will be paid for each player you send. Monthly promotions or drawings are only good for a set amount of time and have a definite end day and time.
3) Betting requirements are almost always attached to the bonus, to prevent players from simply collecting bonus money and then cashing out. In summary, Betting Requirements can be described as the amount of money that needs to be wagered before a player can make a withdrawal from their player account, if they agree to receive the bonus money. Most casinos will require betting for the eligible deposit amount plus the bonus amount, multiplied by a number of times. A good example of this is at Circus Casino, where the wagering requirement for the Initial Deposit Bonus is 25 times. If you make an initial deposit ?? 150 and your bonus money is equal to ?? 150, your bet requirement will be 25 times ?? 150 plus ?? 150, or ?? 7500. You will find that some casinos have higher wagering requirements, while some casinos are lower. Usually there are other limits attached, so don’t just look at the amount to decide which bonus is the best.
4) One of the limitations you may find in the “fine print” is the restriction on games that meet betting requirements. In some casinos, for example, all bets placed on a Slots game are applied against the wagering requirements, but none of the bets on live dealer roulette count, and live blackjack is only partially applied. These restrictions are usually spelled out in the terms and conditions of the bonus in question. You may have to dig a little further to find this, but you should seek this information before making any commitments.
5) Another factor that you need to pay attention to is how the bonus is paid out. While most are paid out as cash deposits into your player account, you will find that some bonuses are paid out in prizes, or entries for prize withdrawals, or even as points that you can convert into cash or prizes.
6) One of the most important, and tedious, fact finding you need to do is check the section explaining the terms and conditions. It’s very precise, and while it doesn’t make for an interesting read, it is very important information to have before you start playing. If you really want to play live dealer games, then you will want to find bonuses that encourage live dealer games and will pay you to play them. It’s useless for you to receive bonuses that will keep you from playing the games you love the most.
7) Last, but certainly not least, you should find out what the penalties are for making a withdrawal before meeting the wagering requirements. Most casinos will not allow you to withdraw the bonus money, or any winnings you have as a result of using this bonus, until the wagering requirements are met. When you make a deposit and accept the offered bonus, there will actually be two separate deposits made to your account, one for your initial deposit and one for your bonus. The bets you make will then be taken from your “bonus pool” until you meet your wagering requirements or the zero balance is exhausted. Once the wagering requirements are made, the money from the “bonus pool” will be transferred to your player account, which is then yours to withdraw at will. If you try to make a withdrawal before that, you will lose your bonus money and all winnings associated with it. For this reason, you must be absolutely sure that you are willing to meet any and all conditions attached to any bonus before you choose to accept it.
As you can see, on the surface most of the bonuses look very tempting and alluring, which is exactly what they are supposed to do. However, you need to understand the terms of each bonus so that there are no surprises or disappointments on the way for you. Most reputable casinos are very open and honest about their bonus programs, and let’s be honest, most of those bonus programs are pretty good. They’re not for everyone, so make sure you have all the information you need to make an educated decision. Whether you enjoy playing live dealer games, or RNG games, playing should be fun for you, and this can only happen if you really understand exactly what you’re getting into. So arm yourself with information and have fun! Good luck to you!