Casino Bonuses And Why You Should Avoid Them
Casino Bonuses And Why You Should Avoid Them sounds a little over the top to a lot of gamblers out there who use online Casinos and betting sites, however, all is not as it seems.
Casino Bonuses And Why You Should Avoid Them
Nearly every online casino offers a deposit bonus offer when you join as a new customer as well as reload bonuses for existing customers from time to time. They are sold to you as free cash that can simply increase your chances of winning big, unfortunately, this is not the case and I am hoping that many people will find this post useful as I explain why.
Let’s say for example you join Cashino
Cashino offers you a 100% bonus on your first deposit up to a maximum of £250. So if you join and deposit £250 you will get another £250 of bonus added to your account.
This is all well and good until you read the terms and conditions of accepting and using the bonus that you have been given. You will have to wager the bonus amount plus your cash amount (£500) 40 times before you will be able to cash anything out of your account (deposit included).
Bonus Wagering Requirements
Wagering means you will have to bet the total amount 40 times using the example above.
£500 x 40 = £20,000 of bets
That’s a massive £20,000 worth of bets you will have to wager either on slots, roulette etc (only 20% of all bets on things like roulette and blackjack count towards your wagering so you can basically make that 20k into 100k if you play roulette).
So let’s say you deposited the £250 accepted the bonus and start playing an online slot and you’re lucky enough to land a feature within a few spins and win £400. Now you want to cash out your £240 plus your £400 winnings right? WRONG.
You are going to have to bet that money you won plus the rest of your balance until you reach £20,000 before you will be able to cash out a penny. Whereas if you had declined the bonus and won with the cash you can cash out straight away (after age verification etc).
Below is the contribution to wagering on certain games, as you can see slots and scratch cards contribute 100% whereas roulette is only 20% this means the 20k wagering you need to reach to be able to cash out is multiplied by 5 (100k).
|Game Category||Contribution to Wagering||Multiplication Factor|
|Slots & Scratchcards||100%||x 1.00|
|Other Games||75%||x 1.33|
|Stud poker||50%||x 2.00|
|Roulette, Baccarat & Sic Bo||20%||x 5.00|
|BlackJack & Craps||10%||x 10.00|
Some casinos have lower wagering of 20x for example and some have higher as high as 100x in some cases. I am sure as you can now see that this is nearly impossible unless you have some insane luck along the way and you are going to end up with nothing in your account and no withdrawal.
Casinos also offer 2nd deposit and 3rd deposit bonuses..take into account the above you could lose a lot of money here even if you are lucky enough to win.
You can succeed with wagering
There are many online casino streamers out there that will tell you and prove to you that they have met wagering on deposits and made huge cashouts and yes it is possible to meet wagering but you will need pure luck.
Why risk wagering any winnings 40 times over before you can cash it out when you can decline the bonus and cash out any winnings with your cash straight away?
Where to locate a casinos wagering requirements
You can always find the wagering for any Casino in their bonus terms and conditions, please ensure you locate and read any terms and conditions before accepting them and playing to avoid any disappointments.
It’s YOUR RESPONSIBILITY TO READ THE TERMS BEFORE OU AGREE TO THEM
The Best Way To Meet Wagering Requirements And Cash Out
The best way you can meet your wagering requirements and finally cash out your money is to play slots. As the table above shows you every spin on a slot contributes 100% towards your wagering amount.
As many slot players will tell you slots have an amount that they are supposed to pay out after receiving a certain amount (RTP) for example for every £100 bet most slots will pay out 95% or more of that amount.
so 100 £1 spins, in theory, should pay you out £95 minus any big wins you hit and bonuses. You have maximum chances of meeting wagering by playing slots.
Do not play roulette if you are looking to meet wagering requirements..it won’t happen unless you’re ridiculously lucky.
Hope you have enjoyed reading this post and I hope it saves a lot of you some money. I learned the hard way. Read my Casino Reviews