As a first-timer, choosing which online casino bonus works well for you can be overwhelming, especially since every deal you come across may seem like the offers just keep on getting better and better. The online gambling industry is a highly competitive one, and these various companies need to constantly re-think their strategies if they wish to attract more players and keep the old ones.
There are already countless guides out there that can help you choose which online casino bonus is the one for you, such as the one found on CasinoGorilla, which is why we’ve decided to bring a different angle to this topic. In this article, we’ll talk about whether online casino bonuses are actually worth your time. Most of the time, punters misunderstand what the true cost of these bonuses is leaving them disappointed and frustrated with online gambling in general.
Because of such misunderstandings, many tend to make general statements saying that online casinos are scams or are trying to manipulate them into giving up all their money. The truth is, there is no malpractice involved in online casinos, especially when it comes to bonuses.
For one thing, you have to keep in mind that whenever casino bonuses are involved—no matter what kind of bonus that may be—your goal as a player is to be able to turn that bonus into actual cash. In order for you to do so and withdraw your money, you must first meet the minimum wagering requirements.
Each casino bonus has its respective requirements that you need to keep in mind. All this fundamental information should be mentioned in the online casino’s terms and conditions, so make sure you read that beforehand.
What Is the Cost of a Casino Bonus?
When you try to think of the cost of the bonus you’re interested in, there are several factors you have to keep in mind in order to fully understand what the cost is. Some of these factors include the following:
- How much the wagering requirement is;
- How much the wagering percentage is; and
- How much the house edge is.
We’ll explain these more in detail below.
The Wagering Requirement & Percentage
As mentioned above, you need to consider both the wagering requirement and the wagering percentage. However, what exactly are they? The former refers to how many times a certain bonus (or deposit + bonus) needs to be wagered before you can actually withdraw that bonus. These requirements typically vary depending on the bonus and the online casino you’re playing at.
As for the wagering percentage, this refers to the portion or percentage that a game contributes to the wagering requirement mentioned above. For instance, table games such as online roulette typically have a lower wagering percentage compared to online slots.
What Is the House Edge?
Now, let’s move on to explaining what the house edge is. This refers to the percentage of the overall number of bets that online casinos expect to keep in a certain amount of time. This also depends on the online casino game you’re playing, as some have a lower house edge such as blackjack, while others have a higher house edge.
Important Points to Consider
As you are probably aware, choosing an online casino bonus isn’t as simple as some might think. Sure, these offers are all attractive and they make you want to claim and use all of them. However, you must also be strategic in choosing which ones to go for.
Deposit Bonuses
This type of bonus works as bait that will lure in new players to sign up and join the casino. Of course, they each have their own terms and conditions.
T&Cs
However, you have to bear in mind that the casino bonuses’ T&Cs vary, as previously mentioned. Even if a particular casino bonus claims to have a 100% match bonus, you must also check the wagering requirements. It’s only natural that you might want to think twice if a casino bonus has a much higher wagering requirement than another one.
How Much You Deposit Also Matter
So, if you’ve made a $100 deposit with a 100% match bonus, you would then have $200 overall. Even if you bet this amount and win, the online casino still won’t allow you to withdraw until you meet the wagering requirements.
Is It Worth Claiming That Bonus?
In summary, given all the information we’ve mentioned above, should you still claim that bonus you have your eye on? To be honest, it completely depends on several factors, which are:
- The online casino games;
- The house edge of that casino game you’re playing; and
- The wagering requirement.
Imagine this: you are offered a 100% casino bonus that has a low wagering requirement of 10x. Not only that, but this casino game doesn’t have any restrictions too. Without a doubt, this is a fantastic offer that you’ll want to snatch right away. So, let’s say that you decided to make a $250 deposit. Due to the 10x wagering requirement set in place, you’ll need to have $2500 first before you can cash out your money.
If you’re playing a game with a low house edge, such as blackjack, for instance, you’ll surely be able to reach this wagering requirement in no time—and make a profit at the same time. If you’re more of a risk-free gambler who prefers to be on the safe side, you could still find value in online casino bonuses.
You just have to remember to not be blinded by the biggest amount. Just because a particular bonus has the highest benefits doesn’t mean it’s the best out of all the offers. Sometimes, you can benefit the most from lower-value offers.
Conclusion
We hope that this article was able to help you make an informed decision about whether the bonus you have your eye on is worth your time. Just remember that you shouldn’t go for every online casino bonus you see, no matter how tempting the offer may be. Consider your options wisely, and most importantly: enjoy!