Casino Bonuses Explained
Whether you’re a seasoned veteran, novice or completely new to the online gaming casino world, Casinowhizz know the work it takes to find a new casino that is right for you. And while most of us don’t have the time to shop around for the right “fit” in a casino when it comes to bonuses and online promotions, this is where we come in to deliver a list of the best online casinos that will fit your needs. No more guesswork involved.
We here have done our due diligence to separate the contenders from the pretenders in the online gaming world, because let’s face it, do you really want and/or care to read the fine print, bonus terms and conditions, game selection, which bonus is the best compared to others and most importantly… what is their trustworthiness?
Here is our rundown of what to look for and understand when it comes to casino bonuses:
- Welcome Bonus: Or also known as a sign-up bonus. Very common for casinos to offer this to new players which usually entails a matching or percentage of your deposit for free as a way to give you extra cash to play your favorite new game or maybe try your hand on a new one.
- No Deposit Bonus: Very popular for casinos to entice new players to simply sign up with no money out of pocket and on top of it receive free credits to play at the casino.
- Free Spins: Who doesn’t like free spins? Common on slot plays, you will have an opportunity to earn free spins which can lead to prizes and in some cases money. Some casinos may offer Free Spins as part of a Welcome package or in-game promotion on a new game.
- Free Bonus Play: Similar to the No Deposit Bonus, this promotion will give you free money to test the waters so to speak inside the casino with the many different games. With no deposit needed, the casino will actually give you credit for a limited amount of time to play. Ex: $1000 to spend in a 12 hour time limit.
- High Roller Bonus: Designed for those players who like to bet big. These high roller bonuses will have lower matching percentage but the reward is bigger on the actual amount you can claim.
- Reload Bonus: Or Re-up deposit bonus. This is a way for casinos to keep you as a customer by giving back a percentage of each deposit you make. The percentage on these tend to be lower than you will get with a Welcome Bonus.
With the countless number of casinos online serving the U.S Market, they all want your business and along with it… your hard-earned dollars. To entice new players, many casinos will throw the kitchen sink at you in bonuses, promotions and whatever other clever idea they can think of. And what may sound appealing at first may not be in the long run.
Take note of the most common terms and conditions you should understand;
- Wagering Requirements “The Rollover”: In a nutshell, in order for you to collect on a bonus such as any winnings, you will have to put some work in the casinos in the form of a playthrough for example in order to collect. This often requires a player to bet the bonus amount 30x before a payout if given.
SCENARIO 1– You are given a 50% bonus on a 30x wagering requirement. You deposit $100 into the casino and receive back $50 back to give you a new total of $150. A 30x the bonus means 30 x $50 = $1,500. Not bad but now you must wager $1,500 before you can collect on any winnings.
SCENARIO 2– Here is another one, 50% bonus with a 10x wagering requirement on BOTH the bonus and deposit. You deposit $100 and get $50 as a bonus to total $150 to play with in the casino. 10x the bonus plus deposit is 10x ($50 + $100) = $1,500. This is an instance where at first seems reasonable but ends up being the same as the previous scenario.
- Game Contributions: Laid out by the casino, they have set forth different contributions on their games to wagering requirements. Whereas some games may have 100% contribution towards the wagering requirements such as Slots and Keno, others like Video Poker and Table Games will have a lower contribution towards your wager requirements.
For instance, a Table Game such as Roulette may have a game contribution of 20%. You wager $100 on Roulette games with a game contribution of 20%; 20% of $100 is $20. Your contribution towards the bonus wagering requirements is $20 only, whereas Slots may have 100% contribution towards your wagering requirements.
- Time Limitation: Set forth by the casino, they will allow you are certain amount of time to spend your bonus and wagering requirement or risk losing losing both your bonus and winnings.
- Withdrawal Limits: Yes, it’s your money and your winnings but many casinos will cap a certain amount to be withdrawn each month as well with your bonus possibly? A cap on winning limits for No Deposit bonus is often associated so it is advised to check with the casino so there is no surprises.
The casino gives you a $10 bonus to use in the casino. You turn that $10 into $700 but unfortunately, the casino only allows $200 to be won on a bonus. In short, you are out $500 in winnings.