The Best Casino Bonuses to Pick
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If you look at the fine print for even the best casino bonuses out there today, then it’s really easy to get lost. What we want to do for you here is break down each of the important points that you’ll need to know when skimming over the rules for a particular offer. Once you know these points, you’ll be able to quickly and efficiently evaluate the value that a bonus gives you without getting bogged down a huge wall of tiny text.
Also known as play-through requirements, this condition originated by the need to make sure that people who were claiming a bonus were actually intending on playing the game. These requirements are typically expressed as a multiple of the bonus, the deposit or both, and you have to clear them before you’re allowed to cash out.
For example, suppose we have a $200 bonus on a $100 deposit with a 20x play-through requirement. If the requirement is just on the bonus, then it’s 20 * $200 for a total of $4,000. However, if it’s only on the deposit, then it’s half of that for a total of $2,000. You could also have to play through both the deposit and the bonus a total of 20 times, which would come to $6,000. It just depends on which style of wagering requirements the bonus has.
Generally speaking, the lower the play-through requirements, the better the value for a casino bonus. However, as you’ll see below, this isn’t the only thing you have to consider when it comes to deciding if a bonus is a good deal.
The cashability of a bonus determines whether or not you can cash out the bonus amount like you would real money once you’re finished with the wagering requirements. This type of condition was originally put in place to dissuade bonus abusers, but it’s become pretty commonplace for a lot of sites.
If a bonus cannot be cashed out – ‘sticky bonus’ -, then it can only be used for wagering purposes, and your winnings on top of the original bonus can be cashed out. The bonus itself is typically removed from your account on your next withdrawal as well.
To show how this works, suppose you have a $200 bonus on a $100 deposit that is not cashable. If you run up winnings to a total of $700, then after you clear the wagering requirements, your bonus of $200 will be subtracted from your account when you request your withdrawal, and you’ll have a net balance of $500 that is yours.
Obviously, bonus offers that are completely cashable are preferable to those that are not.
One of the issues with the original online casino bonuses that popped up is that they were very easily abused with some games and not others, primarily dependent upon the house advantage of the game in question. If you have a player who enjoys slots, for example, then a house advantage of 2-3 percent is normal. However, a skilled blackjack or video poker player can get the house advantage down to less than 0.25 percent in many cases, or lower than 0.5 percent in almost all cases, and this poses a problem because the wagering requirements for bonuses were designed around games with a higher house edge.
To remedy this, most casino bonus offers and other types of promotions have game restrictions. The basic idea is that they can tell you that only certain games are allowed for play, or they can tell you that the effective wagering requirements for some games are larger than others.
For example, you might have a bonus where all play on slots, scratch cards and keno is fine with a 30x play-through requirement. Along with that, play on video poker and blackjack games might have a wagering requirement of 300x instead, and a few games like Baccarat, roulette and craps might be completely barred from play.
If you play the games that aren’t allowed for a bonus, then they can pull your bonus and your winnings, so you should be careful about that. Along these lines, make sure that you’ll be able to play the games you want for a bonus before you sign up.
The best casino bonuses out there will allow you to make a small cash profit, and that will almost always require that the bonus itself is completely cashable. To figure out which of the available offers can turn a profit, there’s a simple process you can follow with a little bit of math involved.
The first thing to do is to figure out your exact wagering requirement for the bonus in a monetary amount. For example, we’ll say we have a 150 percent match bonus on a deposit of $100, so we get a bonus of $150, and it has a 30x wagering requirement on both the bonus and the deposit. This means our total cash play-through requirement is 30 * $250, which comes to $7,500.
Next, we need to find out how much we’ll lose on average from playing through this requirement. We take the total figure of $7,500 and multiply it by the average house advantage for the game we want to play. Suppose we want to play a slot that we know has a house advantage of 1.5 percent. We take 1.5 percent of $7,500 to get $112.50, which is the amount we’ll stand to lose from clearing the entire play-through requirement.
That’s all the information we need. We know that we get a bonus of $150, that is completely cashable, in exchange for an average of $112.50 in losses. This leads to an average profit of $37.50, which isn’t breaking the bank, but it’s a 37.5 percent return on our investment of our original $100 deposit.
You can use this exact process to determine which deals out there are the best casino bonuses you can find, and then you’ll know exactly what to play to maximize your value.
It’s clear that there are a ton of online casinos out there. There are easily hundreds of different brands trying to get a piece of the market and to create interest in players, and that creates a huge level of competition. In order to offer up incentives to players to join them, casino sites started offering bonus opportunities back in the 1990s. The history of how these promotions were abused is how we get to the current levels of terms and conditions today, and if you are familiar with how the rules for these bonus offers came to be, then you’ll be in a much better position to adhere to them in ways that will help you to maximize your chances of coming out on top.
One of the problems with offering up free money for signing up to an online casino is that it will attract a lot of people who are only looking to abuse the promotion instead of actually playing the games. This is exactly what happened in the late 1990s and early 2000s when a lot of smart people figured out ways to completely and totally exploit the terms and conditions of the casino bonuses available at the time. Because the promotional abuse was to such a large scale, a number of different types of terms, conditions and rules were created to protect the casino from being taken advantage of by people who had no intention on actually playing.
And this brings us to the crux of the matter: If the casino sites did not put these measures into place, the same measures that players show a lot of frustration over, then the bonuses would not exist in the first place because they would not be able to afford running them.
In this context, you have to understand that all of the typical terms and conditions exist so that you’re able to actually have the promotions available to you. They come hand-in-hand, and you can’t have one without the other because of the economic realities of casino bonus abuse.