The Value of Casino Bonuses
January 25, 2020
If you’ve ever visited an online casino, you will have noticed the large bonuses which many of them offer. Where bookmakers tend to offer new customers free bets of around £10-£20 on average, casino bonuses can be as big as £2,000. But are these bonuses worth claiming?
For many casual and non-savvy casino players, the sight of a £2,000 bonus is a good enough reason to sign up to a casino and make a deposit. However, there are terms attached to these bonuses and it is these terms which determine whether or not a casino bonus has value.
The main term to look out for is the wagering requirements. All casino bonuses come with wagering requirements otherwise players could simply make a deposit to receive the bonus and then withdraw their deposit and bonus right away. Obviously, online casinos don’t allow this and so they require players to wager either the bonus amount or the bonus + deposit amount a specific number of times. It’s common to see wagering requirements in the region of x35 – x40 and so it’s important to understand what this means.
For example, if you received a £100 bonus for making a £100 deposit and the wagering requirements were 35x the bonus + the deposit, this means that you have to wager the bonus + the deposit 35 times. So, in this case, you would have to wager £7,000 before the bonus becomes withdrawable. (£100+£100) x 35 = £7,000.
This may seem like a lot to wager with just £200 and it is. There is a good chance that you’ll bust out before completing the wagering and you really need a big win in order to be able to complete it.
However, despite the high wagering requirements, this doesn’t mean that casino bonuses don’t have value. In fact, the vast majority of them do have value and quite a bit at that.
There are other terms which you should look out for such as winnings caps. This is when the casino puts a limit on how much you can win from using your bonus. The disadvantage of these bonuses is that if you hit a big win, it’s likely you will not receive all of it and will just be able to collect up to the win cap amount.
Before accepting a casino bonus, you should always read the terms and conditions thoroughly. Always stick to reputable and trustworthy casinos which are licenced by the UK Gambling Commission so that you know your money is safe and that the games which you play are fair and regulated. There are hundreds of casinos, some which have very good bonuses for new and existing players, even the best casino online may not offer the best bonuses and so you may have to look around for them. You can also sign up to MatchedBets.com where we list a number of casino offers which have good value.