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Those who gamble online, whether at online casinos or virtual bookmakers, frequently use the term “welcome bonus.” It is the most common type of bonus offered by online casinos. Many players will be enticed to open an account and deposit money into it as a result of this. If you gamble on a website that does not adhere to this policy, they may treat you differently. This could, for example, take the form of a cashback bonus.
But what exactly is a welcome bonus? What can it be used for? And should such a bonus be accepted at all? We will gladly go over everything with you! We will also go over some of the welcome bonuses that are available to you.
What Exactly is a Welcome Bonus at an Online Casino?
When you make your first deposit at an online casino, you will be eligible for a welcome bonus. Consider it “free” starting capital. It’s the first bonus you’ll get. One of the requirements is that the online casino in question offers bonuses.
When you visit an online casino, you’ll often see promotional offers like a 100% welcome bonus of up to €200 plus 100 free spins.
The most important takeaway from this is that you are eligible for a bonus of up to €200, which is the maximum amount, the moment you deposit €200. You will also be given an additional 100 free spins. These are free spins that can only be used on a limited number of slot machines chosen by the casino. The amount of money that can be wagered on each spin is small, ranging from one to two euros.
If you are eligible for the bonus but do not need to deposit to claim it, it is referred to as a “no deposit bonus.” In many cases, simply opening an account at an online casino is enough to qualify for such a bonus.
Isn’t it true that there is no such thing as free money?
As previously stated, almost all online casinos provide a welcome bonus to new players. Most players, especially newer players, are unaware of these generous bonuses. They have no idea that they are preparing their own grave.
The unfortunate reality is that many of these bonuses aren’t worth it, and the majority of these bonuses aren’t worth it because they freeze their deposits until they meet the significant wagering requirements. You must decline the majority of the bonuses offered if you read the terms and conditions for such a bonus.
There are numerous hooks and eyes. As a result of the so-called wagering conditions, you will undoubtedly fall into a trap. These terms and conditions require you to wager both the bonus and the deposit amount a certain number of times before you can cash out any of your winnings.
The wagering requirements for welcome bonuses typically range between 35 and 50 times the bonus amount. Assume you were given €200 in ‘free money,’ with the requirement that you wager it forty times for a total wager of €8,000. If you’ve already met the stringent playthrough requirements, the only way to cancel the bonus and avoid using it is to contact customer service.
Welcome Bonus Terms and Conditions
A welcome bonus may be subject to certain terms and conditions. You must carefully read these “bonus terms.” You might be able to get away with whistling for money if you don’t do this. However, how is the weather in your area?
The first step in making a deposit is always to select a payment method. When deciding whether or not to accept a bonus, you must immediately consider this. It is common for the terms and conditions of a bonus to state that certain payment methods, such as Skrill and Neteller, are ineligible for the bonus. Examine it closely and thoroughly!
The number of times you must play the bonus game is the most important condition. This is also referred to as betting. You may have noticed that in most cases, you must wager x number of times the bonus money.
You may be required to wager both your deposit and the bonus money in some cases. Furthermore, some online casinos require players to engage in wagering activities with bonus winnings (like free spins).
After you’ve determined that you’re eligible for a bonus, there are a few more factors to consider. Everywhere we look, we see that you are limited to a maximum bet for each wager or paying. In most cases, the maximum amount that can be wagered on a single bet is five euros, and the maximum amount per pay line is half a euro.
Furthermore, not all games contribute the same amount to the bonus’s wagering requirements. Slot machines, with a few notable exceptions, typically count for 100% of the wager, whereas other games, such as blackjack, only count for 10%. If you only play blackjack, you must increase your bets by a factor of ten to avoid losing the bonus. Because the conditions have a time limit, this can become quite complicated.
It’s common practice to give yourself a certain amount of time to use any bonuses you receive before they expire. It will take you about 14 days to finish. If you do not meet the bonus requirements by the deadline, the bonus and any associated winnings will be forfeited.
Now that you understand what a bonus is and the terms associated with receiving one, let’s look at a real-world example.
A Delightful Change to the Procedures
In the preceding example, €8,000 had to be wagered. You received €200 in “free money” in exchange. Let’s dig a little deeper into this topic.
You can only bet up to €5 per spin, and the bonus requires you to play any video slot game for a minimum of 100% of the bonus amount. We selected a slot machine with low variance and a payout percentage of 96%. As a result, you’re always 4% off the mark.
When applied to an amount of €8,000, 4% yields a total of €320. This is the typical amount you’ll lose. The total amount here, as you can see, exceeds the $200 you were given. Don’t even bother trying!
This does not negate the fact that playing with bonus money is a viable option; it is not an impossibility. There’s always the possibility that you’ll get lucky and land a big hit, giving you a little more ammunition to play with.
You can also increase your stack by engaging in activities such as playing blackjack with the best strategy. You will not waste this money, but there is a good chance that the initial $200 will grow to more than $320 if you capitalize on the opportunities presented to you.
As a result, the wagering terms in this example are unfavorable. The maximum desirable amount is approximately 25 times the amount wagered with the bonus money.
Remember that to cash out some bonuses, you must first wager the money you deposited. This bonus is unappealing even with a multiplier of 25.
The Advantages of Receiving a Welcome Bonus
What are some of the advantages of receiving a welcome bonus? One of the most significant benefits of receiving such a bonus is an increase in the amount of money available to you. Finally, the money you spend will be used to buy yourself some form of entertainment. And the amount of time you can spend playing is proportional to your bankroll.