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Your about to join a new online casino, the sign up form is complete and your ready to go… but wait, what’s this – A ‘200% Bonus on your First Deposit’ promotion appears. It’s all too tempting to simply process accept, who wouldn’t want free money? Hold your Horses!
Here’s RedBlackWin’s overview of the pros and cons of casino bonuses – Accept or Reject?
The decision your about to make will be the single most important one in terms of determining whether you walk away from your first casino session with a profit or a loss. Forget red or black, stick or hit or whether do have another spin, this choice is the most important but often a selection players dedicate very little time too.
Let’s start with some key points regarding Casino Bonuses
1.) A Deposit Bonus is used as a Recruitment Tool to encourage New Players Join. But could a casino really afford to give away so much free money to all new players? The simple answer is no, but they can with the addition of some very biased terms and conditions (from their perspective)
2.) The Terms and Conditions of these Offers vary Significantly – two bonuses could be completely different even if they both state something similar like ‘100% deposit bonus’. This is because of a concept known as the rollover requirement, which we’ll discuss in more detail later.
3.) Most of these Bonus offers tie in your Real Money Deposit, so if you deposited £100 with a 100% bonus for example, your balance would be £200 in total. If you wagered this full amount and won, the casino would not let you withdraw any of your winnings in most cases (until the rollover requirement for the bonus is met)
The offers shown above are typical offering for a new casino player, they sound appealing as they essentially let players double or even triple their money before they start. But just as with making a deal with the devil, the benefits come at a big price.
Exploring the Bonus Offer Terms & Conditions
There will be clear link to the T&C’s next to each bonus offer, always open this page and have a quick read through the content. It can look a bit overwhelming at first glance, but just focus on looking for the following information.
– The Bonus Rollover Requirement
– Which Games count towards the aforementioned Requirement
– Will Real Money Deposits be Coupled with the Bonus or Not. Can the Bonus be forfeited in order to withdraw real money? or must the full rollover requirement be met before any withdrawals can be processed.
Let’s look at a real example with the popular William Hill Casino
As the most popular betting company in the UK, it is unsurprisingly that a large number of players have accepted this bonus offering when they first joined.
What are William Hill Offering? 100% First Deposit Bonus Limited to a maximum of £150
How do players Claim this Bonus? Simply Register and Click Claim Bonus after Opening the Account
RedBlackWin’s Analysis of this Bonus
The Good – Large Bonus Amount, All Popular Games count towards Wagering Requirement, Bonuses can be removed when processing a withdrawal, so real money isn’t tied down with the bonus in that sense. But in this case, all winnings would be lost too when the player cashes out.
The Bad – Not all Games count 100% towards the rollover requirement which is calculated as 20 x bonus + deposit amount, for example Roulette players suffer from a measly 20% contribution to the rollover requirement with each spin.
Overall Conclusion regarding the William Hill Bonus
Avoid it, the chances of a player successfully meeting the 20 x stake and deposit rollover requirement as exceptionally small. Coupled with the fact that casino games with a low house edge have only a partial contribution to this requirement, it’s best to simply reject this offer and play with your real funds.
Is there a Casino Bonus which is worth Accepting?
For players within Europe, we where unable to find a Casino bonus worth accepting. They are designed to attract players to join and then reduce their chances of walking away with a profit. Your bet choice is to find a site offering low house edge games such as Mr Green (stick with European Roulette and Blackjack rather than Slots)
The $5000 Bonus at BetOnline is also worth considering
Are Casino Bonuses worth using when Playing Roulette? RedBlackWin takes an independent view of the value of casino bonuses and free bets from the perspective of a roulette player. Should they be used or avoided?
Is Online Roulette Fair? Many believe these games are unfair, rigged or somehow setup to ensure players lose and casinos always win. Discover the truth about Roulette in trustworthy casinos