If you are looking to join an online casino, you will likely understand that you will receive a new player bonus. However, do you fully understand how you will receive your bonus and what you may need to do in order to realise it fully?
If not, then this is the article for you.
We will outline the most common types of bonus payment systems that are in use by the majority of online casinos in the world today. We'll also explain how the system works and, perhaps most critically, what you are going to need to do to fully realise a bonus of around 100 for each system.
Let's begin with arguably the most attractive and simplest form of bonus payment system, the front-loaded bonus with wagering requirement.
1. Front-Loaded bonus
The attraction of a front loaded bonus for a player is immediately apparent. The customer deposits a certain amount at their casino of choice and in addition to having their deposit cash available, the casino then hands the player an additional bonus sum (usually around 100% of the value of the deposit) to use when they start playing on site.
In effect, this means that instead of playing with 100 in their account, a player who received a 100% deposit bonus, would have 200 to play with initially.
Of course, casino's quickly realised that such an offer was likely to be abused with players depositing cash, receiving their bonus and then withdrawing their cash, using only the casinos money to play with. As a result, strict wagering requirements were put in place to stop dishonest punters abusing the bonus.
How the system works is explained thus: Once a player has received their bonus they effectively have two accounts with the casino. The first is their real cash account, which the players cash is put into and any winnings from real cash play or additional deposits from the player are added to. In the example shown above, this account would have 100 in. The player can make withdrawals back to their bank account from this account, at any time.
The second account they have is their bonus cash account. Again, in the example above, this would mean a player has 100 in their account given a 100% deposit bonus on a deposit of 100. However, the bonus cash cannot be withdrawn and can only be transferred to your real cash account once the wagering requirements are met.
Each casino can have its own wagering requirement, but it is not unusual for a casino to ask a player to wager 20, 30, 40 or even 50 times the bonus they received before they are allowed to withdraw any funds from their bonus cash, to their real cash balance and thus be able to withdraw it.
The upshot of this, is that a player who receives a bonus payment of 100 from a casino with a 40x wagering requirement, has to make bets totaling 40 x 100, or 4,000 before they can transfer cash from their bonus into their real cash account.
It is important to note here that this means the player must make bets of 4,000 in order to quality, not just win 4,000. If a player placed their 100 bonus on a roulette wheel single number bet and turned 100 into 3500 and then placed another 100 on another number and won again, they would have won 7,200. However, they have only placed 200 in bets, so they need to place another 3,800 worth of bets to meet the wagering requirement.
Other important things to note for the player are that the casino will always use your real money cash first before using your bonus cash (for obvious reasons, if they didn't you could still wager all your bonus first, then withdrawn your cash leaving the casino at risk) and that not all casino games and bets will contribute equally to fulfilling your wagering requirement.
Bets and games with a low house edge, such as betting red/black in roulette or games like blackjack, may only contribute a fraction of the stake towards the wagering requirement each time.
Front-loaded bonuses are great for players who want more gaming for their money. They certainly provide this. What they don't provide is a guaranteed way to make money at the casino. They certainly give you more chance to win, but there is no guarantee you'll make enough money or bets with your bonus cash to turn it into a handsome profit.
2. Slow-Release bonus
Another popular form of deposit bonus is a slow-release bonus, where players 'earn' their bonus by playing on the site and a drip fed the cash as they accumulate enough spending on their playing at the site.
For example, lets say once again that a casino offers a 100% no deposit bonus and a player deposits 100 of real cash into their account. With a slow-release bonus, a player does not receive any of the bonus up front. Instead, they must use their real cash balance to play on the site, accruing points, or something similar, to measure how much they spend.
Once a player reaches a certain points milestone, say 50 points, this will trigger the first bonus payment. Usually, bonus payments are made in increments of 10 or 20, depending on the size of the bonus the player has earned.
As the player continues to play on the site, they will reach further milestones, which will trigger the remaining payments of their bonus, until they have been paid all of their bonus, or the amount of time in which they have to realise the bonus (which can be anywhere from a week, to several months) expires.
A slow-release bonus tends to have a smaller wagering requirement than a front-loaded bonus and a player may only have to play through this bonus once, twice, five or ten times in order to realise the cash. The amount of wagering requirement is very much dependent on which casino you choose.
The key factor with a slow release bonus is the time consideration. If you deposit a large amount and receive a large bonus, you need to play frequently on site in order to realise it. This is even more urgent if you only have 1, 2 or 4 weeks in which to realise the full bonus, but less of a concern if you have 3 or 4 months in which to earn the full bonus.
3. Casino-Play generated bonus
The last and most recent form of bonus is those that are generated by the player using casino cash to generate their player bonus.
In this type of offer a player generally receives a stated amount of cash (this is generally unimportant, though casinos may use large amounts to entice you in) and say that a player has one hour to use this money to bet with and make a profit. Any profit you make (up to a stated limit), is yours to keep as your new player bonus.
For example, a casino may offer a player 1,000 and an hour of free play, stating that anything they make between 1,020 and 1,100 (minus the 1,000 from the casino) within that hour can be used as their new player bonus.
One of the benefits of this offer is that if a player starts playing with their cash from the casino and loses money, they can restart the offer again within the hour, as often as they wish, thus giving themselves unlimited opportunities to earn a decent bonus payout.
Once you have qualified for a bonus this way, you need to make a deposit of a certain amount in order to realise the full bonus. Then you can receive your bonus either as a slow-release bonus, or an up-front bonus, under much the same terms as described above.
Essentially the casino-play bonus offers either a slow-release or up-front bonus, it is just a different way for the player to generate their bonus rather than making a deposit and receiving a percentage amount of that.
Next Post: Are wagering requirements unfair at online casinos?
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