- Remember, many bonuses come with time restrictions for meeting the wagering requirements. Be sure to know how long you have to meet the wagering requirements before a bonus expires and you lose any winnings you have earned.
Here’s how to make the most out of your welcome bonus at an online casino
- Choose a no wager welcome bonus if available – These are basically welcome offers with no wagering requirements. While rare, it does happen and means you can cash out without having to meet the wagering requirements.
- Welcome offers that are debit card casinos spread over multiple deposits are great options – This will help you stretch your bankroll further. These welcome bonus packages provide deposit bonuses on your first, second, third and even fourth deposits.
- Combination bonuses are tops – Look out for welcome offers that include combination bonuses, for example, deposit bonuses and free spins, match bonuses and loyalty points etc.
- Check to see if your preferred payment method is eligible – Another caveat worth mentioning is that in some cases, a specific payment method is not eligible for the welcome bonus. It is important to make sure the payment method you are using forms part of the bonus criteria.
If you find these opportunities, you should take them as they are quite valuable and extremely limited
Wagering requirements, also known as rollover or playthrough requirement, is a set amount of money that must be wagered before you can cash out any winnings associated with a welcome bonus, or any bonus for that matter. In most cases, you will be required to wager around 30 to 40 times the initial bet and bonus amount combined to qualify for the bonus winnings. That said, this could vary – in best cases, it could be as low as 25 times, in worst cases as high as 50 times. There are no rules to this as is at the discretion of the casino website.
The purpose of this is to prevent the casino from losing too much money. It is also used as a deterrent to players just looking to take advantage of a casino’s welcome bonus without the intention of actually making a deposit and sticking around. Called ‘bonus seekers’, online casinos do not want these types of players at the site and have put these requirements in place to guarantee that all registered players are worth the free money on offer. Ultimately, the welcome bonus should be a win-win situation for both the player and the casino – the player gets a bonus, and the casino gets a depositing player.
Almost every online casino has wagering requirements on their bonuses, although there have been rare cases where welcome bonuses feature no playthrough rates whatsoever. That said, offering no wagering requirements may mean the casino has instituted other strict conditions that are hard to fulfil.
Wagering requirements of a welcome bonus tend to be significantly higher at newer casino sites compared to established ones as they are looking to make a profit or break even in the first few months of operation. Don’t be surprised to see a new casino bonus with a wagering requirement of 60 – 70 times, while older casinos hover at 35 – 40 times.
Check this before joining an online casino as you might have a better chance of claiming a lucrative welcome offer at an older online casino. It is important to remember that just because a casino site is newer, with a better look and design, that it is the best fit for all casino players. Finding the right casino to suit your needs and preferences on all levels is the key to a successful and rewarding igaming experience.
