The Pitfalls of the Online Casino Bonus
If you gamble on the Internet, you might probably have heard of online casino bonuses and the like. Almost all online casinos offer some sort of a bonus when you sign up, deposit money or spend a certain amount. Online casino bonuses are as diverse as the number of casinos on the Internet, so you should take your time to analyze an online casino bonus when it is offered to you.
An online casino bonus is the amount of money given to you as a gift or incentive from the online casino when you make a deposit into your account. An online casino usually gives a bonus on your very first deposit, sometimes from 100% up to 400% or even more.
Naturally, an online casino bonus that promises to double or triple your bankroll is very tempting if you only have a vague idea of how online casinos work. First, you should realize that an online casino bonus is not real money given to you for free. You can't withdraw that money unless you have spent a certain amount of money playing in that particular casino, which is often several times bigger than the bonus you get.
That is why it is important to read the terms and conditions of an online casino before you sign up and deposit money. The guidelines and requirements regarding bonuses and withdrawals are stated in the terms and conditions of the online casino. These requirements differ from casino to casino. Some online casinos, especially the less prestigious ones, have conditions that make it difficult for you to withdraw money.
To better understand how an online casino bonus works, suppose that the online casino requires you to wager an amount of money twenty times bigger than the online casino bonus you are getting. So if you get a $200 bonus, you have to wager a total of $4,000.
Of course, you don't have to bet $4,000 in just one sitting. It means that your total wagers or bets must add up to $4,000 or more before you can cash out your bonus.
Depending on your skills and the house edge, you might end up with a profit or you could lose some money despite the "hefty" bonus awarded to you. For example, if you play a game with a house edge of 2%, you will most probably lose $20 for every $1,000 you gamble. So if you wager a total of $4,000 and get a bonus of $200, you will lose $80, which means that you'll end up with a profit of $120. That is, if you consider only the house edge. The requirements, the house edge, the bonus percentage and other factors differ from casino to casino.
Online casino bonuses may be good for you if you understand how it can contribute to your bankroll and give you more chances to play. But don't leave your common sense behind when you see a tempting online casino bonus offer. Read the terms and conditions first so that you can make online casino bonuses work to your advantage.