We’ve all seen the tempting bonus offers from casinos – matched deposits of varying amounts, some of which offer £500, or more.
But are they as good as they seem, or too good to be true? Read on to find out how casino bonuses work, and learn how to tell whether an offer is worth taking up, or best left on the table.
Check Out Matched Deposit Conditions
You see an offer that looks great. Let’s say it’s a bonus of up to £300 plus 20 free spins. Now let’s look at the small print. Some casinos bury this information, but many do the right thing, and put a link to the T&Cs, within the ad promoting the offer.
It’s important to maximize the value you can get from the bonus. So the first thing to check out is whether the offer gives the bonus in one go, on your first deposit, or whether it’s spread over stages. You may assume that if you put in £300, you’ll get £300 paid to your account. However, some offers may be structured so that you get a 100% match, up to £100, on your first deposit (you put in £100 to get £100 from the casino). Then there’s a 50% match up to £100 on your second deposit (you have to put in £200 to get £100 from the casino). Then there’s a 25% match on your third deposit, up to £100 (you have to put in £400 to get £100 from the casino).
In the example above, the casino has matched your deposit – but not quite in the way you may have expected. You’ll have deposited £700 to get your £300 from the casino. So rule number one – look at the structure of the bonus to find out how much you really have to deposit. If it’s a 100% match on the full bonus amount immediately – it’s a great deal, take it.
Wagering Requirements Are Universal
If there’s a casino out there without wagering requirements on bonuses, we’ve yet to find it. But the amount of the wagering requirement varies, so let’s take a look at how it works.
If you win while using your casino bonus, you can’t withdraw those funds until you have spent a multiple of the bonus, using your own money. Typically, the wagering requirement is around 40 times your bonus (X40). If you see X30 or X35, that’s great value. If you see X45 or X50, that’s not such good value. But these judgements are subject to another rule. Some casinos charge the wagering requirement on both your deposit and any matched bonus. That effectively doubles the wagering requirement. So it’s worth checking those T&Cs carefully.
Lastly, what about those free spins? Surely they’re straightforward? They are, but nearly all casinos limit the games you can use them on. And some slot games don’t contribute 100% to the wagering requirement.
Casino bonuses are great – but shop around to find the best deal!