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The point is, most bonuses exist for the benefit of the casino site, rather than for the benefit of the player. One has to be extremely careful and attentive before claiming any bonus offers. Of course the best option is to play for real money at no wagering casino in Canada, but these are still rare. Therefore, every online casino punter has to be aware of the nature of bonuses, and how to choose the most profitable ones.
This post discusses casino bonuses to give you a broader picture; if you want a detailed guide, please check out CasinosHunter online casino reviewing platform.
How Do Bonuses Work?
Bonuses are usually free cash or Free Spins for slot games - sometimes casinos also give free chips for Table Games, but this is a rare type of promo - offered to casino customers.
Bonuses increase the player's balance, and seem to give the player more opportunities to wager and win real money. However, the rules and terms applied to bonuses by most casinos destroy such opportunities.
Firstly, when the player gets a bonus, let's say a cash bonus matching their deposit, when they start wagering the money, they first wager their deposited money, and then the bonus money. However, as soon as the bonus money reaches some minimum balance, the bonus is removed from the account. This is done due to the wagering requirements.
The wagering requirements are created by casinos to prevent players from claiming a bonus, wager it a bit, win some cash, and withdraw it immediately. This would be too easy, and too unprofitable for casino sites. So, according to the rules, every bonus should be wagered a certain amount of times, before the player is even allowed to request a withdrawal - if there is still anything on the balance to withdraw.
At the time of writing, adequate wagering requirements are x30-x35. If the player takes a $10 bonus and has to wager it x35 times, the general sum must be $350. If they fail to win big in the indicated slot immediately, they are unlikely to be able to win anything at all in the end.
Moreover, bonuses, be it cash or Free Spins, are only allowed for wagering in certain games, and it is the casino site that indicates what game or games are allowed. As a rule, these are games with low Return To Player rate, minimizing the customer's opportunity to hit a big win.
Also, customers with an active bonus are usually not allowed to make bets higher than $5 per bet. This rule was also created to minimize people's chances of hitting a huge win right away.
And eventually, maximum possible winnings from wagering bonuses are always capped at a certain limit. As a rule, maximum winnings possible from wagering Free Spins vary from $20 to $100. Maximum winnings possible from deposit-based bonuses cannot exceed $10,000, depending on the type and sum of the bonus. All extra money is removed from the account the moment the player requests withdrawal.
Most Widespread Bonuses
As it becomes obvious, bonuses are not created for the customers' profits. Moreover, bonuses are not created equal in terms of types.
There are a couple of general types to classify the casino promos. The first type is cashable or non-cashable; no bonus can be cashed out as it is. only winnings from it can be cashed out, and this is called a cashable bonus. However, some casinos do not allow withdrawal of the winnings associated with bonus, either, and this is called a non-cashable bonus.
The second type is no deposit casino bonuses. No Dep promos are usually granted as a reward for action or activity - registering an account, taking part in a tournament, etc. Deposit-based promos are given only upon depositing an eligible sum.
The most widespread bonuses one can find at casino sites are:
- Sign Up (no deposit) bonus
- deposit-based Welcome Bonus (cash, Free Spins, or both)
- No Deposit for loyal customers (usually Free Spins)
- reload (usually cash) for loyal customers
- cashback
- free chips
- comp points
Most Profitable Bonuses
The most profitable bonuses can look as the most humble ones, to inexperienced gamblers. In fact, the level of profitability depends on the wagering requirements: the lower the wagering requirements, the more profitable is the bonus.
The most advantageous types of bonuses are cashback and wagerless bonus. Cashbacks depend on the player's deposits and losses, are easy to predict, and are subject to low wagering requirements. No wager bonuses allow to withdraw the winnings without spinning them dozens of times in games.
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