There is no doubt the casino bonuses are very popular with online players. But there are many things you need to know before accepting a casino bonus offer. There are countless websites listing details of bonuses, like this one: 10 euros free bonus.
Different Types of Bonuses
There are a variety of different casino bonuses. Naturally they come with terms and conditions. Generally the safest is a free bonus for registering an account. The way the casino sees it is it’s just an incentive for new players to complete the registration process. From a budget perspective, it’s just an advertising expense of theirs.
Most online casinos don’t offer a registration bonus. This is because it opens up the possibility of the same people opening multiple accounts. Even in cases where identification is verified, it still may be fake ID. And there’s always the possibility a player wins big with the registration bonus. For example, a win on a single number in roulette pays 35 to 1. So if a player gets ten euros for free, the player is paid three hundred and fifty euros.
It might not sound like a lot in the scope of things, but it can be a significant risk if a casino gives free money to thousands of players. Technically it isn’t free money though. Again it’s more like an advertising expense for the casino.
The most common type of bonus it’s a deposit bonus. This is where your account is credited an amount in proportion to what you deposit. But what many players unaware of is that it comes with strings attached. For example, you may deposit $1000. And the casino may give you a 100% bonus. This means your account has a total of $2,000.
Now say in the first few spins you build your bankroll to $10,000. You would be jumping for joy, and eager to quickly withdraw your winnings. But not so fast. The requirement of the deposit bonus may be that you wager twenty times the amount of your deposit. As your deposit was one thousand dollars, the wager requirement is therefore $20,000. It sounds like a lot of money, but it might only be a few hours of play.
The Effect Of Casino Bonuses
The purpose behind the requirement is so the casino is assured of not losing money. To the player, it may seem like free money. But the fact is a deposit bonus only temporarily reduces the house edge for the casino.
To explain how it works, I’ll give some exaggerated examples:
Imagine joining a new casino and depositing $1000, and being given a $100,000 bonus without any wagering requirements. You could wager $50,000 and be practically guaranteed to profit. This is bound to lose the casino money.
Now consider joining a casino and getting a 100% bonus. Also this time the wagering requirement is 100,000x. This means before you can access your deposit, or more specifically we withdraw any funds, you need to have wagered 100,000 x $1000, which is $100,000,000. Are you likely to ever wager this much? Rather unlikely. The chances are you will lose your initial $2,000 bankroll well before ever having wagered $100,000,000.
In a more realistic situation, the wagering requirements are much lower. But they are carefully calculated and weighted by casino mathematicians. And this is to ensure the casino is unlikely to lose money from deposit bonuses.
Are Bonuses a Dirty Trick By Casinos?
Unfortunately most roulette players have only a vague understanding of mathematics. The casinos are required to be open about the payouts for each type of win. But they do not normally explain the actual odds of winning. For example, there are thirty-seven numbers on the European roulette wheel. But the payout is only 35 to 1. So here we have the odds and payout, which are completely different things. Typical inexperienced players tend to look at the payouts, rather than the discrepancy between pouts and odds. This is an oversight on their part, which is not the casinos fault.
Similarly, casinos are not responsible to explain detailed mathematics of registration and deposit bonuses. Unfortunately, uneducated and ignorant players often don’t properly understand the requirements for bonuses. So disputes can arise when a player attempts a withdrawal without meeting the requirements. The casino will argue that withdrawal is not permitted because the wagering requirements were met. And they may be right. But the player will argue that they rightfully won the money, and deserve the payout. Who is right? The casino. But it certainly doesn’t stop the player from complaining.
Don’t get me wrong here. There are some particularly dodgy casinos around. But there are also some fair and honest casinos, who are unjustly attacked by players who didn’t understand the terms of deposit bonuses.
Fair vs Unjustified Casino Complaints
I operate various gambling and roulette forums, and many new members post complaints about casinos that refuse payouts. Payout refusal is unfortunately not uncommon with online casinos. Although it is typically only with rogue casinos, or casinos licensed in poorly regulated jurisdictions.
Payout refusal is the most common complaint. But the vast majority of times, the complaint is not justified because the player has not met the terms and conditions. The complaining player doesn’t particularly care about the fine print. They are only focused on the fact that they have not been paid. So naturally, they want to complain about it on various websites including my forms. This can give an honest casino unjustified complaints. So before you make a judgement on whether or not a complaint is significant, consider the casinos response to the player, and whether or not any terms and conditions have been breached.