With an increase in online casinos, online casino bonuses are also overflowing on the internet.The competition in this industry has reached to the next level where surviving for the casinos has become tougher. Further, the size and shape of these casinos bonuses are different offering a chance to the players to wager according to their pocket.
Understanding Online Casino Bonuses
While browsing through the online casinos, you will come across different bonuses and offers. A majority of the casinos offer free cash reward to the players that sign up for the first time. It is known as welcome bonus and a player can fetch this after making the first deposit at the casino website. You must know that you can enjoy $200 to play if you have claimed 100% deposit bonus and have funded your account with $100. Here, the tip is that you should meet the wagering requirements before accessing the second $100. Make sure that you consider the house edge and contribution rate of the game before starting with it.
Online Casino Bonuses Wagering and Game Contribution Rates
When it comes to the bonus wagering requirement, it is an indicative of the amount you need to bet much before the final bonus is released by the casino. The rule of thumb here is to bet only between 20 and 40 times the amount of the bonus and deposit. For instance, you can bet up to $2000 if you have made a deposit of $50 and have received a bonus of $50 with the wagering requirement of 20x.
In addition to this, players must also know that every game favors the casino. The casino does earn a good amount on every game it offers. The fact is that online casinos make more money than they actually pay to the players as cash rewards. For instance, American roulette has a house edge of 5.26% and video poker has an edge of 0.46% or less.
Handling the Online Casino Bonuses Trap
Players must be aware of the situation at all times. Especially when the house edge, game contribution rate, and wagering requirement are stacked against them. You must find another casino if you have suffered losses much greater than the total bonus amount. The point is that you have to avoid the bonus trap and save your pocket. In an adverse bank situation, you must think twice before placing any further bets. However, you can always try out using formulas to see if the bonus is worth it. You can calculate the expected loss by multiplying the house edge with the amount wagered while amount to wager can be calculated by multiplying the wagering requirement with a total amount of bonus & deposit and the game contribution percentage.
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The Bottom Line About Online Casino Bonuses
Therefore, players have to be smart and active while availing the casino bonuses. They should prefer calculating the expected bonus and losses before actually moving ahead with more bets. It is always better to go through the casino site. In this way, you check the feedback of previous customers. You’ll then get an idea if the casino is rewarding or not.