Are Casino Bonuses Worth Taking Advantage Of?
Promotions are one of the chief tools online casinos use to attract new players. Deposit bonuses are especially prevalent, after all, who does not want to earn hundreds of dollars in free money just for playing casino games online? However like many things in life there is the “fine print”, here is the scoop:
Since existing players fizzle out at such a high rate online casinos are forced to attract new players to survive. Large, 100% 500 dollar or more deposit bonuses are offered to new players in order to reel them in. It IS possible to unlock these bonuses; they are definitely not a complete scam. Players unlock bonuses all of the time and they will continue to in the future. Unfortunately these bonuses are not easy to unlock, if a casino went around giving away hundreds of dollars to every new player they would be out of business in a matter of months. You have to meet the play through requirement [also called wagering requirement] in order to unlock almost any online casino deposit bonus.
Let’s say you are qualified for a 500 dollar bonus, the average play through requirement at an online casino is 25 times the bonus plus the deposit you made. This would mean you would have to wager $25,000 [500 bonus + 500 deposit= 1,000 X 25= $25,000] before unlocking the bonus in its entirety. Twenty five thousand dollars is a ton of money for almost anyone, but if you consistently play casino games online, even at low to medium stakes you will hit that number in wagers before you know it. Casinos will profit roughly 500 dollars per every $25,000 in bets [2% margin] which means they will break even offering hundreds of dollars to new players over time! After paying out the large deposit bonus they will have a loyal, dedicated player at no cost!
If this was all that went into deposit bonuses it would be a great deal for everyone, however there is still more fine print added into the equation. Certain player friendly games, such as blackjack with just a 5% house edge, do not count towards your wagering requirements at most casinos. Games such as European Roulette or Pai Gow Poker also might not count towards your wagering requirement or you may have to wager much more playing these games than you would other casino games to unlock your bonus. The rationale here is that casinos want you to play addicting games with high house edges such as slots to maximize their profits. If you are a slot player this should have no effect on you, however those of us who enjoy table games as much as slots and video poker have a legitimate reason to be discouraged.
Thankfully, casinos offer more than just initial deposit bonuses. Retaining the services of an important player is just as important as attracting a big time player. Most casinos have some sort of loyalty program. The average loyalty program will give you 1 loyalty point for every 10 dollars in wagers you make. 100 loyalty points will usually earn you 1 dollar in cash sent directly to your account! 1,000 dollars in wagers are usually required just to get a dollar, but it is better than nothing. If you are deemed a “high roller” you might be able to move up classes via a VIP program. Most casinos that have a loyalty program also offer an invite only VIP program. If you wager enough money or you know the right people you will end up receiving extra benefits!
Casinos do give out bonuses to players, but only when it will end up benefiting them as well. Be wary of every offer you see online but do not pass up a good opportunity!« Best Online Casinos for High Rollers How to Avoid Rogue Casinos »