Let’s face it, casino bonuses can be a major draw for fans of online gambling – promising you extra money, free spins, cashback deals and even more to give you the ultimate gaming experience. Some of them seem to promise you the world and with huge numbers thrown around they can look too good to be true.
But are they? And can you really make money from a casino bonus? Well, the answer is yes – but with conditions attached.
Understanding how they actually work, their T&Cs, and how you can maximise their potential is key to turning big bonuses into real, withdrawable money.
The Types of Casino Bonuses
Before we look at the strategies, you need to know a bit about the different types of casino bonuses you’ll come across:
- Welcome Bonuses – This is for new players and usually comes in the form of a deposit match bonus (e.g. a 100% match up to £200).
- No Deposit Bonuses – Either a small amount of free money or free spins you get without having to make a deposit, although it usually comes with strict wagering requirements.
- Free Spins –Bonuses for slot players that let you spin without using your own money.
- Cashback Bonuses – A percentage of your losses will be refunded – either as bonus money or real cash.
- Reload Bonuses – This works like a welcome bonus but is aimed at existing players to reward them for making extra deposits into their accounts.
The Wagering Requirements
The biggest hurdle you’ll come across when trying to convert your casino bonus into real money will be the wagering requirements. This is essentially the number of times you’ll need to bet the bonus amount before you’ll be able to withdraw any winnings.
So, for example, if you claim a £100 bonus that has a 35x wagering requirement, you’ll need to wager £3,500 (£100 x 35) before you can cash out any wins. Then, there are those casinos that apply the wagering requirements to both the deposit and bonus amount, which would potentially double the amount you’d need to wager. So, if you deposit £100 to claim the £100 bonus and there was a 35x wagering that apple to both, you’d need to wager £7,000 (£100+£100 x 35) before you could withdraw anything.
So, ideally, look for low wagering requirements that apply only to the bonus. Or, if you’re lucky, you’ll find bonuses like free spins no wagering on selected slots, which means there are no wagering requirements at all!
Game Contributions
Also, it’s worth being aware that not all games contribute equally to clearing those wagering requirements. Slots usually contribute 100%, but table games usually only contribute between 10%-20% or sometimes nothing at all. Live dealer games also usually have lower contributions, as does Video Poker.
Making sure you pick the right game can have a massive impact on whether or not you meet the requirements – and withdraw your winnings.
Top Tips for Maximising Your Casino Bonus
So, here are the top tips for maximising your casino bonus…
- Read the Terms and Conditions – Make sure you check the wagering requirements, game restrictions, and time limits before claiming it.
- Look for Low Wagering Requirements – Some come with only 10x-20x playthrough – and sometimes even lower, making it easier to convert into real money.
- Play High RTP Games – Games with a high Return to Player percentage (96%+), give you a better chance of keeping your winnings.
- Manage Your Bankroll – Try not to place large bets too quickly. Set a budget, stick to it and pace yourself.
- Look for No-Wagering Bonuses – If there are bonuses with no wagering requirements, go for them!
When to Avoid a Casino Bonus
These are the things to avoid when picking your bonus…
- Too high wagering requirements – e.g. 50x or more.
- If the games you like playing don’t contribute much to the wagering requirement.
- If the bonus comes with restrictive withdrawal limits.
So, Can You Actually Make Money?
Yes, you can – as long as you plan carefully. The key is to make sure you find a bonus that has fair terms, manage your bankroll carefully and play games that contribute fully to the wagering requirements.
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