How To Wager Through An Online Casino Bonus 2020
When it comes to online marketing, casinos are at the top of the hill when it comes down to the development of loyalty strategies. Due to the fact that they don't have to pay for a whole building on a busy street, manage a huge payroll, and pay for some players' drinks, all of that money goes to basically three things: Keeping their software updated, Raising the games' RTPs to attract more players, and offering bonuses and special promotions.
The US online casino market is snowballing, and it's expected to hit the USD 70 Billion mark near the year 2023. In captaingambling, we are well aware that this means more offers for our member. We have planned on explaining every step from knowing how to open an account in online casinos to become familiar with how to withdraw money from an online casino account. We're glad to share this exciting moment!
- Think about whether a casino bonus makes sense for you
- The turnover requirements of a bonus can be very difficult to fulfill in some cases
- Choose your first deposit so that the revenue requirements remain feasible
The concept of bonuses and wagering terms
Let's go over the idea before we start talking about how to wager through an online casino bonus. And let's do it by using our logic, it's essential for us that we develop some logical thinking here about the industry.
When we talked about the casino's advantage in Why are online casinos useful, we addressed the fact that casinos are businesses and that they never give away money for free. But that doesn't mean they're not willing to sacrifice some of their earnings for a greater good: they work under statistical algorithms that will help them offer better conditions to well-informed players – such as yourself– and they are eager to get more customers playing. Some will win, and some will not. These will become our beloved bonuses.
This is when bonuses and wagering terms come to life. I'm a reputable casino, you opened up an account and deposited $1,000, and now you have $2,000 in your bank! How's that even possible? Well, it's all because of the wagering requirements, which mean that you'll have to risk that money a certain number of times to be able to cash it. Don't think for a minute that you can walk out right there with double your money at the blink of an eye!
That being said, let's begin with our Step by Step guide on how to wager through an online casino bonus.
Step 1: Collecting the bonus
Whenever you're invited to a casino, there'll be a bonus waiting for you. As a rule of thumb, you should rule out casinos that don't have bonuses and promotions, as that would be very suspicious and an indication of their lack of a reliable platform. If the casino asks for a deposit and you consent, make sure you've read our article on How to deposit money into an online casino account, and then follow these instructions:
- Click on the invitation link within the casino's website or a respectable third party
- Make sure you write down the bonus code, they might ask for it later
- Log in or Register an account
- Insert your bonus code whenever the box for it appears.
- Go to your cashier and check both your real money and bonus money balances.
Step 2: Finding out what games are ok to play with these credits
This is something fundamental that is not highlighted by some casinos, even the top ones. Bonus credits are limited to some machines and games, depending on the type of bonus. It varies as much as there are bonuses around, but usually, they would tie certain kind of rewards to one or two slot machines.
Step 3: The most common types of online casino Bonuses
Always verify the kind of bonus you're accepting. Although we'll get to them in our article 13 powerful casino tips that actually work, we must mention they tend to come in three primary forms so you'll know how to proceed and wager them:
- Welcome Bonuses: These are very attractive. They will multiply your investment from 50% to 900%.
- No-Deposit Bonuses: The most preferred by newcomers. These bonuses actually provide a chance to make money without spending, but there's a catch we'll discuss later on this article.
- Refer a Friend Casino Bonuses: This is the bonus that probably makes the casino happier. Some of them will also include part of their deposits as bonuses too, apart from their registering bonus.
Step 4: Contribution to wagering requirements of each game
Now, this might get a little tricky for some people, but we'll do our best to get it right for you. As you might know by now, thanks to our Online Gambling Odds explained piece available at captaingambling; casinos are willing to share their profits with users, under certain conditions that favor them statistically. Just as there are slots machines with a beautiful 98% RTP, they pay a lot of money but remain profitable.
The thing is, when it comes to Blackjack, the casino's advantage when someone's using an effective strategy is lowered. That's why casinos assign different wagering requirements for each game. Although every casino has its own table according to their studies and own games, we'd like you to consider the following benchmarks of the casino industry when it comes to games contribution to wagering:
- Slots: All online casinos set their contribution to 100%. It doesn't include Video Poker.
- Blackjack: 0% to 20%, depending on the variety. The standard American blackjack usually contributes with 10%
- Roulette: Same as blackjack, depending on the version (French Roulette is very good to players). It also depends on each spin of the wheel, as you will generally get cero contribution if you bet on more than 24 numbers.
- Baccarat: usually set at 10% for all of its variations.
Let's use an example. If you joined a particular casino and received a $10 bonus with 40x wagering requirements, it will become available for cashing out once you have risked it 40 times. That is, you would have placed $400 in bets, it doesn't matter if you win or lose. The sum you're risking is the one that's going to be accounted for.
If you spin a slot machine having bet $5, you will have risked $5, because the contribution is 100%. But if you bet $5 on American Blackjack that would mean you had only endangered $1, since the game's contribution is 10% of the risked sum.
Step 5: Cashing out the bonus earnings.
Once you have reached the wagering goal, congratulations! You are among the many happy customers that have made money out of nothing! Now, head back to the cashier and see how much there's available. Make sure you have followed every advice on this next before drawing out money.
- Do not exceed the maximum amount of earnings: All bonuses have a maximum they can produce. Exceeding this limit might make you lose every dollar of the bonus.
- Watch out for the calendar: Some bonuses are meant to last a few days or even a month. When you forget about this, you risk collecting your bonus' earnings.
- Respect the bet limits with bonus money: Read about it in the Terms & Conditions
Good luck cashing out your bonuses!
There's always an additional sense of satisfaction when you make money out of a bonus instead of your own money. You get to feel like you have beaten the big man! Taking their own money and showing them how it's done.
To cash out bonuses is somewhat tricky, considering the wagering requirements. Finding a casino with fair conditions and a clear set of Terms and conditions becomes essential. Join us into seeking for the one that suits you best, and pick up some extra advice along the way by registering in our forum. Check out the following casino comparison to find the best bonus for you!
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