Wager requirements on the bonuses in the casino
Casinos are not a charitable organization and act solely in their own interests. Keep that in mind. Most of the time, any encouragement they make is only to benefit themselves. These promotions can be free spins and welcome bonuses, cash backs and other popular forms of gifts. Casinos come up with a wager that have certain conditions to get extra bonuses. A certain amount of effort is required. Wager requirements to get a bonus in a casino turn into real challenges and many of them can have a negative result for the player. Below we will consider all the pitfalls that gamblers can experience and show you what you need to know to find them.
Why such a big wager?
It used to be better, the grass was greener and the wagers were smaller. Back then there was a serious competition between the online casinos and there were a lot of bonus hunters – professional players whose only goal was to get a bonus in a short amount of time to cash out at a profit. Because of these bonus hunters the casinos have applied wager requirements. Every bonus has a positive and profitable effect towards the organization (short term and long term), if there is a damaging effect it is very minor. This protects the casino from any form of exploitation of their bonus offers.
How to calculate the wager?
Wagers are usually described as x40 or x50, this means how many bids the player has to do to be able to withdraw your winnings. The welcome bonus is usually a $100 wager from x40 or x50. This means that you need to place a bet of at least $4000 up to $5000 and only then can you withdraw your profit (if there is one). It goes like this: your deposit $100 and get a $100 bonus on top of it, now you have $200. To be able to withdraw any winnings from this “gift” you must deposit a few thousand dollars.
In order to not go a long way let’s take a look at the conditions of wagering in a modern casino.
The maximum rate to play the bonus - $5 (or the equivalent of it)
One of the most important conditions is the limit of the wager. The casino profits from the duration of the player’s session. So he is given plenty of opportunities to disrupt the requirements but the patience of the gambler is being tested as well. Also, a smaller maximum rate protects the casino from any schemes. For example: big money bets on multiple accounts in roulette.
Payout percentage in different games
It is beneficial to the organization that the players use every bonus. Why? Because slot machines always give the organization a profit and the player can lose everything at once. Often this is higher than in other games such as blackjack, craps or baccarat. The casino limits the “efficiency” of the table and card games including baccarat, blackjack, video poker, roulette, poker, etc. Around 5-10% of the bets in these games are through bonuses. For example, you place a bet of $100 and play as if you only had $5 or $10 out of a thousand. Another thing is the slot. The stakes are generally recorded at 100% but there are exceptions. The most favorable slots for the player are forbidden to give out the bonus, for example: Dark Knight Rises, Scrooge, and Secret of the Stones, Devil’s Delight, Robin Hood, Tomb Raider 2, Blood Suckers, Kings of Chicago, Jackpot 6000, Mega Joker and many others.
Among the features of receiving the payout bonus: the minimum sum of the deposit, when playing the game with a bonus can be deducted from the real money as well as the limited time period of the wager. In short, there are plenty of conditions but specifically to this wager there is an indirect value.
Are bonuses profitable to the casino?
In theory, you can calculate whether the organization gets a profit in the long term from certain bonus offers. For example, let’s take a look to the same distributed bonus: 100% up to $100 on your first deposit. We choose a medium rate – x45. This is seen as the standard wager. We need to place $4500 on the bet. Now we have to find out what the total percentage of the revenue is in a specific casino (the average of all games). Good organizations have the revenue of around 97.5%. Now we have to multiply $4500 by 2.5% and we get the theoretical amount of the profit of the casino which is $112.5. Again, this is only in theory and not the exact amount! As you can see $112.5 is more than $100.
This means that even if you successfully win back the bonus, the organization (the casino) will have a positive result in terms of profit. Some casinos offer an x40 rate of the wager. In this case, they will gain the same amount as they would lose - $100. In most cases this is not favorable to the organization and the wager requirements are often higher (if possible). The new websites use considerable concessions to attract new players that have recently just started. They often use a rate of x30 but they will always lose money. Do the math for yourself. If each player would get a $50 bonus on average, how much will the end result be? $50,000? $100,000? These amounts can be really huge and nobody wants to take this risk.
The rates of free spins, cashback and other bonuses
The wager requirements usually have other bonuses as well. Very rarely, when the casino is really generous (or rich) it provides bonuses without certain wagers. So you don`t get fooled by the advertising of “Register and get $10 free of charge on your account”. No, you will get the money but withdrawing your winnings right away will be impossible. You will have to play it first. So, what kind of requirements is there to get different bonuses?
Returning the lost funds for a certain period of time – usually up to 20% for a week – it`s usually a nice encouragement to play the game. Should the player lose money he will have some comfort knowing that he will get a small amount of it back that is the logic of the cashback. But, no! Usually you have to bet all of your money in order to receive it. The betting rates aren’t that high – x3, x10, x20 somewhere around this number. But you have to admit that winning back the money you lost if absurd to say the least.
Probably the most popular type of the bonus – free spins. Modern day casinos love to give out free spins, 100+ of them on specific machines. Obviously you have to play them and win too. The rates of wagers can vary greatly in this case – from x10 to x60. There are universal values of each organizations have their own conditions. There are online casinos that won`t give out free spins. For example, a popular foreign institute “Guts” already has a policy of “There is no wager”. But this is an exception. Prepare to get some “free sessions” while you will play.
Bonus without deposit
A bonus without having to deposit is always a win-win situation; obviously they will have to win money as well, no surprise here. Rates can be up to x50 and x60 easily. It`s a simple but an effective trap. The player gets free money that can win him something, but he can`t withdraw his funds. In the end, it all comes down to the new deposits. That is the ultimate goal of the gambling establishment.
Bonus on a follow up deposit
It`s a common type of bonus and is often given when you add an extra deposit. The wagers are from x40 to x50. These bonuses are for loyal players.
The most common wager trap
Always read the conditions of any bonus types. Sometimes they will surprise you: some places use an extraordinary type of wager rates compared to most of the casinos. Don`t think like “the previous casino had a wager of x40, which means this one will as well”. Always read the terms and conditions. For example, a common technique used by the casino is: “100% added to a $200 betting rate with an x30 wager”. Cool offer right?
This is at first glance. In these cases you often need to not only win back the bonus amount but also the deposit. Wager requirements are imposed on the amount of the bonus and the deposit. This is a very standard practice. Many organizations that are untrustworthy try to hide these conditions and rules so that you won’t find them easily. Sometimes the bonus is really good but it turns out that the rates of the wager are unknown, because there is no information about it. Always consult the support service in cases like these. Good and trustworthy casinos have all of the information written just below the bonus or on a separate page. It`s the most convenient for the player and a honest move by the organization.
Is it worth to use these bonuses?
Let`s summarize. Our story turned out to be not the most optimistic, but it`s not that bad actually. It`s true that recently the rates of wagers have become higher. But this is a necessary measure, without this the very existence of online casinos would be open to the question. If you play on a regular basis (especially in slot machines) at a low rate, getting these bonuses is necessary. If you`re a high roller – a bonus is often not needed. The extra $100 - $200 wager will not be enough if your deposit exceeds $500 or $1000. It`s still important for the high roller to get some form of adrenaline and it`s often produced by playing the maximum bet. Once again, read the conditions! This is very important. The bonus can either be beneficial or not beneficial but you need to know about it in advance.