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In the battle for players, promotions are one of the most powerful tools at the disposal of online casinos. But some can have unfriendly conditions lurking in the detail. Here’s what you should look out for when considering whether to claim or skip on a promo.
An Overview of Casino Promos
While every specific item will be looked at in more detail, it is useful to first take an overview of casino bonuses to get a general picture of how they stand. A first thing to note is that the headline figure (number of free spins, for example) will be usually indicated in large, bright font. However, the flipside of this attractive proposition is contained within the terms and conditions, which should always be checked whether you’re hunting for casino deals, the best concert ticket promos or discounted groceries.
Within the terms, the bonus code may also be found, and (if so) relevant instructions for when and where to enter it. Be aware that some welcome promotions are automatically activated upon account registration, and, while this is less common, some bonuses can only be redeemed by contacting customer service directly.
The value of a promotion is contingent on getting the detail contained within the fine print of the terms and conditions to match with the headline figure. A seemingly huge bonus might be far worse than a more modest one, if the former has a ridiculously high wagering requirement and the latter a much more competitive one.
No Deposit Bonuses
One of the most popular types of bonus is the no deposit promotion. It’s easy to find these at the best online USA casinos, with plenty of no deposit bonuses for USA players offering the most prudent way to play. Why prudent? Because there is the chance of winning real cash, but without having to risk any, hence the no deposit name. Free spins are the most common variety, although free cash (which is more flexible) may also be available. These are also great for taking new sites or games for a spin without having to incur any losses at all.
Wagering Requirements
The single most common game-changer for a bonus, and the main determining factor in whether it’s worth your time or something to skip, is the wagering requirement. Note this is sometimes known as the playthrough requirement. This is the total sum that must be wagered prior to the withdrawal of bonus cash and associated profits. It will be expressed as a multiple of a promotion’s value, with lower being better. This is not only because it involves less time, but also because there’s a better chance of finishing ahead.
So, what’s a good wagering requirement? 30-35x is pretty good, and lower than this is excellent. A little higher does dilute the value of a promotion, but sometimes bonuses have a WR so high that it’s ridiculous (an example of such a sky-high wagering requirement is 200x. This means that free cash worth $20 would only be withdrawable once bets of at least $4,000 have been made).
Occasionally, the wagering requirement won’t be clear in the terms and conditions of the specific promotion. In such an instance, check the general terms and conditions as some sites have a standard approach to promos and indicate the details there, including the wagering requirement. Most of the time this won’t be onerous for players, after all, bonuses are one of the reasons why online gaming is ever more popular, but it’s always wise to check.
Withdrawal Cap
New players will lead to increased gambling revenue, but terms still need to be fair. Unlike the wagering requirement, the withdrawal cap does not need the player to do anything, but you should always know what this is because it represents the upper ceiling on profits from a promotion. One or two hundred dollars is common (this is not a huge amount but from a no deposit deal it’s still effectively free money). Compare this cap to the value of the promotion and to the wagering requirement. If you have a thousand dollar match deposit deal with a 100x wagering requirement and a withdrawal cap of just $10 it’s not hard to see that the flashy headline figure is eclipsed by the stringent conditions. By contrast, a $100 match deposit promo with a 20x WR and a withdrawal cap of $100 is better value even though the main figure is just 10% of the previous example.
Game Limitations
Many promotions have limitations on accessible games, although these can be generous. The strictest bonuses tend to be free spins, which are frequently associated with a single slot (or linked series of slots). Free cash and match deposit special offers can usually be used on most slots and table games within a casino. When this is the case be aware that not all gaming categories contribute equally to the wagering requirement. Normally, slots and scratch cards contribute 100% of wagers, with table games often contributing just 20-50%, and sometimes less.
Pay particular attention to both progressive slots and their associated jackpots. Sometimes these can be exempt from the withdrawal cap, and it’s worth finding that out before you ‘win’ a life-changing sum of cash, only to discover you’re only eligible to claim $100 of it.
Required Banking Methods
Another point worth considering is that sometimes match deposit bonuses and suchlike require certain banking methods to be used. Commonly this is to divert players away from using Visa and Mastercard, which have higher processing fees than many alternative methods such as cryptocurrencies like Bitcoin. Obviously, this is a make or break condition for many players, as few will want to go through the rigmarole of setting up an account/wallet for a banking system they do not already use.
Online casino promotions can be a great way to make a profit but always remember to check the fine print ahead of time so that you have the best chance of ending up in the black.