When things sound too good to be true, they usually are and players are entitled to be sceptical about things they get for free, especially online. The obvious reason why casinos have them in their offer is to lure in new customers.
A welcome bonus is a money given to a player for wagering at the online casino. The first point to keep in mind is that bonuses cannot simply be cashed out. You have to wager the bonus as required in the bonus terms and conditions.
Types of welcome bonuses
This is the most popular and widely used casino bonus that comes in the form of a welcome bonus. This bonus target at all newly registered players who are willing to deposit to get things going.
A casino offers a 100% up to €600 bonus. Wagering requirements 30x
• “100%” – this means that the bonus amount you receive will be double your first deposit. For example, if you deposit €100, the casino will also give you an additional €100 in bonus money.
• “Up to €600” – this means that the bonus amount the casino is willing to offer cannot exceed €600. Therefore, if you deposit €1000, you will still only receive the maximum bonus amount of €600.
• “Wagering requirements 30x” – this means that you need to play the bonus amount 30 times to be able to cash your winnings. Let’s say your bonus is €200. €200 x 30 = €6.000. This means that you will need to bet a total of €6,000 before you can cash in on your bonus.
A casino offers a 50% up to €200 bonus. Wagering Requirements 15x
• “50%” – this means that the bonus amount you receive will be half of your first deposit. For example, if you deposit €200, the casino will also give you an additional €100 in bonus money.
• “Wagering requirements 15x” – this means that you need to play the bonus amount 15 times to be able to cash in. If we work under the assumption that your bonus is €40, you will need to wager €40x 15 which is €600. It is only after you have satisfied these conditions that the bonus amount will be released and available to withdraw.
The casino is often giving free spins upon registration and they also come with wagering requirements. Wagering requirements on free spins are usually lower than on the first deposit bonus. If you get lucky on them and fulfil wagering requirements it is yours to keep and if not at least you tried some new slot and didn't lose any money.
There are plenty of casinos which are giving free spins on a weekly or monthly basis for their regulars. At the end of the day, it is a way for them to promote themselves and a way for You to get extra money.