I have written a number of blog posts in a series called “What is Games”. The purpose of these positions is to assess what is important for games and what is important for different aspects of games.
After just completing a post about “what is an online casino”, I realized that the concept of casino bonuses is so important for the activity that “what are online casino bonuses” should be my last theme.
The basics of online casino bonuses
The most basic and common form of online casino bonus is the new deposit bonus. This is a bonus amount of chips you are awarded just to register at an online casino and make your first deposit there. This bonus is usually described as a percentage match with an upper limit.
Of course, there is only one example. $25 free chips is a kind of bonus I cover in the next section.
I am more interested in the most common form of bonus bonus at the casino.
The percentage is the multiplier used to determine the size of your bonus. You only need to multiply the percentage by the amount you enter to calculate how much bonus money you receive. For example, with a 250% bonus up to $2,500, you will deposit $1,000 and receive $2,500 in bonus chips. In the first example, they have a two-part bonus that they like to advertise as their $5,500 new player bonus. The second deposit is a 300% bonus of up to $3000. You deposit $1,000 and get another $3,000, which gives you $4,000.
What are wagering requirements and how do they work?
Casinos aren’t about to give money away. It’s business. Their goal is to make money. Therefore, they offer these bonuses – to get you to sign up and deposit money. However, if you only get to pay out the bonus money, most players wouldn’t even bother playing the games at the casino. They would deposit, claim the bonus and then immediately withdraw their money. I don’t think anyone expects a casino to accept that. At the same time, no one would think it’s fair for the casino to expect you to play until you’ve lost all your money.
Most casinos state their wagering requirements as a multiple of the deposit plus the bonus you need to wager before you can withdraw. The 30X is actually a common pass-through requirement. So if you deposit $1000 and get a 250% bonus of $2,500, you have $3,500 in your account. You must place 30 X $3500 in games before you travel. That’s $105,000 in what. At first glance, this seems impossible because you don’t have $105,000 to lose – you only have $3,500.
But you get credit for every bet you make, even if you win. You don’t have to lose $105,000. Just set bets equivalent to $105,000. This can take the form of 105 bets of $1,000 each, or 1,050 bets of $100 each, or 10.00 bets to $10 each, or any other combination totalling $105,000. However, most casinos have a maximum bet of $500, no matter what game you play, so you need to spend some time playing before you can meet these wagering requirements.