Casino Bonuses and Promotions
“All that glitters is not gold.” This saying rings particularly true when it comes to the tons of casino bonuses that players get inundated with daily. While obviously presented in the best possible light for marketing purposes, there is plenty fine print in the terms & conditions sections. Therefore it is worth reading this fine print; often certain parameters need to be met before your funds can be withdrawn.
A first deposit bonus is a popular method of attracting new players. The deposit bonuses are normally between 50% – 200% of your first deposit, with a maximum limit amount applied. This maximum amount is usually higher in online Bitcoin Casinos.
It can all be very exciting – deposit a certain amount and double your money right away! Well, as with all things in life that seem too good to be true, there are a few nasty surprises here too.
The conditions before being able to withdraw are normally that you need to wager between 15X-50X your bonus amount. This is referred to as “the clearing amount which makes withdrawal possible.” So essentially, your entire balance can be held by the casino until those requirements are met. Obviously, this takes time, but, what it mainly does is tip the scales in the casino’s favour because if you have a big win initially, you’re forced to play on for an extended period.
A further factor is that some casinos limit which games contribute to the “clearing requirement”. Finally, the last ace up most online casinos sleeve is imposing a ticking clock – if you do not wager the required amount in a certain time period (usually 2-4 months), your deposit bonus will be forfeited.
A reload bonus is very similar to a deposit bonus, the only difference being that it’s used to lure back existing clients. The same stringent requirements are in place and need to be met before withdrawing. A word of warning: If you have an existing balance at a casino and partake in a reload bonus special, it could affect withdrawals of any funds which you already have at the casino (i.e. – your entire balance may become privy to the same terms and conditions).
Free Play Bonus
Some casinos offer a small amount of money deposited in a newly registered account with no deposit necessary. The terms and conditions of this type of bonus are usually even more draconian than that of deposit bonuses, with players, on average, having to turnover their stake 50X before a withdrawal is possible.
Cash Back Rewards
Some casinos offer monthly, or even weekly, cash back program in which up to 10% of all losses are refunded to the player. The convenient aspect of this is that there are generally no strings attached and the money is credited to the player’s account. Reputable online casinos will make that money available for withdrawal instantly.
An online casino V.I.P program entails some form of point-accruing system based on turnover, similar to frequent flyer miles. More points are earned for games in which the house has a higher edge. Cash back rewards, together with other perks including exclusive offers are up for grabs. These programs can sometimes be reserved for the top 5-10% of players who are the high rollers.
Slot and Table Game Leaderboard Tournaments
Many online casinos offer turnover based incentives for players of slots and table games. These leader boards typically run monthly and find players chasing fairly nominal amounts which are awarded at the conclusion of the cycle. With some having live leader boards constantly updated, it does provide a form of excitement for players, but limited reward. Some of the leader board tournaments are restricted to specific slots or table games only.
Slot Specific Perks
On occasion, an online casino can offer an enhanced pay-out of a particular pay-line on a designated slot. (i.e. – 150% of the pay-out on 5 of a kind with a certain symbol). This is done to attract player attention to a particular offering. Players should be aware that normally the offer is limited to one rare pay-line outcome only.
The best approach when choosing an online casino is perhaps not to make a choice based on bonuses or promotions. However, if that is a player’s intention, it’s best to know exactly what the wagering requirements and limitations are before taking part.
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