Some of the best online casinos offer some of the best bonuses. I have seen bonuses from as small as $5 all the way up to ones worth tens of thousands. Unlike most things in life, the biggest bonus is not always the best bonus. You need to consider the type of bonus, the bonus restrictions and the play through requirements. To learn more about how to tell if a bonus is the best one for you, continue reading below.
Play Through Requirements
Every bonus you receive from an online or mobile casino will have certain requirements you must meet. These are usually described as play through requirements. When you see these they will be listed like 30 times play through or 30x or 30X play through. This means that you are required to wager the total amount of your deposit and bonus 30 times, or whatever the particular casino requires. Here is an example. You make a deposit of $200 and receive a 200% bonus, for another $400. Your total deposit and bonus are $600. The casino has a 30 times play through so you will have to bet a total of at least $18,000 to clear the bonus. Of course you don’t do this all at once. You play your normal games and the total amount wagered accumulates. If you are playing slots at $5 a spin you will need to play 3,600 spins.
There are restrictions on almost every bonus you will ever receive. You may only be able to play slots or your play on blackjack might only count for 10 or 20 percent of your play on slots. You can even lose your bonus if you play restricted games. So you have to read the terms and conditions whenever you are going to take a bonus. That is the only way you will know what the restrictions are. You will also learn the requirements to clear the bonus and if it is cashable or non-cashable. Many players just take whatever bonus is offered without even considering the implications. Do not get in a hurry and skip the terms. If you do you may be in for a big surprise.
Types of Bonuses
There are four main types of bonuses available. While there may be a few other bonus types, these four will account for almost 100% of the ones you will find. They each have their own regulations and conditions as you learned above.
No Deposit Bonuses
No deposit bonuses are also called free chip bonuses. You receive real money to try out an online casino without having to make a deposit. I have seen these as small as $5 and as large as $77. The most common amounts range from $5 to $25. You will often have to make a real money deposit before you can cash out any winnings from no deposit bonuses and usually there is a limit to the amount you can cash out. Common limits are six times or ten times the free chip amount. No deposit bonuses will have the same type of play through requirements as other bonuses.
Cashable bonuses are the best bonuses available in the online casino market. They are exactly what they sound like. After you meet all of the wagering requirements you can cash out any of the bonus you have left. So if you receive a $500 bonus on a $500 deposit that has a 25 times play through you will have to play $25,000 in real money games. Let’s say you are a blackjack player and play $25 a hand. After you play 1,000 hands if you have $700 left you can cash out the entire amount. This may seem like something normal if you aren’t familiar with online casino bonus schemes, but it is not. Most bonuses are non-cashable, which you will learn about next.
Non Cashable Bonuses
Non cashable bonuses are usually presented the same way as cashable ones. They will list a percentage, like 100% or 200%, and a maximum amount. The difference is that when you are finished playing and ready to cash out the non-cashable bonus will be taken back out of your account. These are also called “play only” bonuses.
If you were to use the exact same example as we looked at in the cashable section above, you would only be able to cash out $200, because the $500 bonus would be deducted from your balance before the payout.
Free Spins Bonuses
Free spin bonuses are a lot like free chip bonuses. But they can also be attached to regular cashable or non-cashable deposit bonuses as well. A free spin bonus gives you a set number of free spins on slot machines. These free spins are often restricted to a certain machine where you have to take all of the spins.