Everybody likes freebies, especially when it comes to online casinos. In fact, one of the best ways casinos attempt to attract new players is offering an online casino signup bonus. However, not all bonuses are created equal, nor should they be treated equally.
We’ve put together some tips on what you need to look out for and consider before taking advantage of a signup bonus at an online casino.
Are You Eligible?
As with most things in life there are usually restrictions or exclusions applied, and online casino signup bonuses are no different. The first thing to do before getting too excited about that big headline number being advertised, is to read the terms and conditions (T&Cs).
Highest Rated Online Casinos (See Ones With High Scores)One of the key sections you’ll want to focus on within the T&Cs is around eligibility. While the restrictions will depend on the casino offering the signup bonus, here are a few of the more common ones you can expect.
Age and location – Most countries have age restrictions around gambling, usually 18-21 years old. Depending on whether the online casino operates in your location, this could potentially make you ineligible for the signup offer.
Existing players – Unfortunately, if the bonus is for new players, once you’ve signed up and accepted the bonus, you won’t be eligible for it again. This means if you have, or intend to, sign up additional user accounts or use friends’ accounts to take advantage multiple times, you likely won’t receive it.
Past real money play – Similar to existing players, many casinos won’t allow you to claim the signup bonus if you’ve previously played at the casino with real money. Even if you didn’t make a deposit, simply creating an account with a phone number that was verified by SMS, may be enough to exclude you from these offers.
Other offers – Some signup bonuses may specifically exclude other offers from the same casino. It’s worth noting that you might still be able to receive multiple bonuses for partnering sportsbooks or poker rooms, even if you signed up via the casino. But always remember to check the specific details for each offer.
Am I Going to Spend More Trying to Trigger the Offer?
Depending on the size of the bonus compared to the size of your bankroll, you could actually end up depositing more than you intended to, just so you can trigger the bonus.
Most signup bonuses require you to deposit and then “trigger” or “lock in” the bonus by spending a certain multiple of your initial deposit amount. For example, if you deposit $50 and the trigger is 3x, then you’ll need to place bets to the value of $150.
It’s important not to get carried away trying to hit the trigger as you could end up depositing significantly more than you normally would, just to take advantage of the bonus. The last thing you want to do is deplete your banking balance before you’ve even started playing.
Our advice would be to only consider signup bonusses where either no deposit is required, or the trigger isn’t overly onerous and line up with how much you normally would have deposited in the first place.
What Are the Wagering Requirements?
If you’re lucky enough to accept the online casino signup bonus, the next hurdle you’ll generally need to overcome are the . Simply put, these are the number of times you’ll need to wager (bet) the value of the bonus before you’re able to withdraw any associated winnings.
Wagering requirements can vary significantly between bonuses, and even casinos, although somewhere around 20-50x the bonus amount is fairly standard. The importance of considering the rollover requirement shouldn’t be underestimated, as it has a significant impact on both the time and effort required, as well as the risk involved in trying to clear the bonus.
Let’s take a look at a couple of examples to help highlight the potential differences.
Example – Higher Rollover
You sign up to Ceasars Online Casino and take advantage of their welcome bonus which consists of a 100% match deposit bonus of up to $300. So, if you deposit $300, you’ll end up with an additional $300, giving you a total playing balance of $600.
However, the fine print reveals the rollover requirement is your deposit plus bonus x25, or in this case $9,000 ((300+300)*25). If you were to stop now for some reason and withdraw your current balance of $600, you’d also be required to forfeit $2,400 of associated winnings.
To meet the wagering requirement you’ll need to place bets totaling $9,000. Given the casino’s house edge (the average percentage chance each game is configured to favor the casino over the long term) we estimate it would take you between $8,000 and $10,000 of wagers to clear the bonus.
Mobile Games That Would Make Awesome Slots - PolarisGiven you’ve basically got a 30% chance of losing money rather clearing the bonus, it’s definitely one you want to carefully consider before accepting.
Example – Lower Rollover
Let’s assume you’re signing up at BetMGM Casino and take advantage of their signup bonus of up to $1,025, which has a much lower rollover requirement of 1x.
In this scenario, you decide to take advantage of the full $1,025, meaning you’ll need to spend $1,025 in order to clear the bonus. Given the relatively short period of time you’re likely to be in your first few days or weeks at a casino, a 1x rollover is one of the easier targets to achieve.
While you likely wouldn’t necessarily set out to try and trigger the bonus, if you were doing somewhat typically for a new player, you’d probably stand a reasonable chance of meeting the playthrough target.
There’s no right or wrong answer for the examples above. It very much depends on your experience and comfort level with the time and resources you want to invest into trying to clear the bonus.
No Deposit Bonus Codes Found . - Too Much Is Never EnoughJust be sure to keep them top of mind and make sure you choose a bonus with rollover requirements that align with your playing style and goals.
Do You Need to Play the Bonus or Can You Transfer to Other Games?
Another consideration of online casino signup bonuses is what games you’re allowed to play, and more importantly if you have the flexibility to transfer the bonus to other games you may be more familiar or comfortable with.
Many bonuses, particularly those with larger amounts, will have quite restrictive rules around which games count towards clearing the playthrough requirements, or worse, are excluded altogether.
Slots usually provide the best opportunity to quickly clear a bonus, with many online casinos requiring anywhere from 20% to 50% of the wagering to come from slots. Table games like blackjack on the other hand often don’t contribute anything toward clearing the bonus and can actually have negative expectations such as -20%. This means regardless of how much you wager on blackjack, you’re expected to lose 20% of that amount.
One of the more flexible signup bonuses comes from Betway Casino who offer new players a 100% match deposit bonus of up to $1,000. While there’s a 50x rollover requirement (which we’ve already covered is pretty standard), one of the benefits is the ability to play a wide range of games, including slots, video poker, baccarat and several types of blackjack, which only needs to contribute 5% toward clearing the bonus.
This flexibility means you’ve got a reasonably broad choice of how you want to try and clear the playthrough requirements, and depending on the game you choose, you might even have a positive expectation, unlike blackjack at some casinos.
Reasons Online Poker in America is Better Than EverHow Long Do You Have to Clear the Bonus?
Unless you’re lucky enough to find a bonus with no time limit, another important consideration when looking at a signup offer is how long you have to clear it. Time limits can vary considerably, anywhere from a few days through to several months.
The best piece of advice we can give here is to ensure you’re across the timeframe and well beyond your normal decision making process around alcohol consumption. There’s nothing worse than thinking you only have a week to clear a bonus, when in reality it’s more like thirteen weeks (yes, I’m looking at you BetMGM). Add to that a few too many celebratory beers with work mates, and you could find yourself waking up on a Sunday morning unexpectedly married to your high school sweetheart, along with a bonus balancing act that’s now against the clock.
States That Could Legalize Online Poker Next - PokerlistingsOk, maybe that’s an extreme example, but trust me, you want to give yourself every opportunity to clear the bonus without undue pressure or outside influences. Where possible, aim to select a bonus with a reasonable timeframe, ideally several months, that gives you plenty of time to work it off at your own pace.
Is There a Maximum Amount You Can Clear/Withdraw?
While you might have successfully cleared the playthrough requirements for your bonus, that doesn’t necessarily mean you can withdraw the entire amount. Many online casinos impose a maximum withdrawal amount per transaction which could result in having to make multiple withdrawals.
For example, let’s assume you’ve taken advantage of a $300 signup bonus with a 1x rollover at the Golden Nugget Casino. After several hours of furiously grinding away on your computer, you’ve managed to clear the $300 bonus and have a new site record for how many times you can loser at table football.
Unfortunately, the casino also has a of $10,000 per transaction which means instead of making one convenient large withdrawal to clear your entire balance, you’re now faced with the joyous prospect of making three separate withdrawals to process and postal delays to receive.
On the plus side, you could always look at reinvesting one of the smaller withdrawals back into the table football machine, hopefully next time with better results.
Are You Eligible for Ongoing Promotions?
While the headline grabbing signup bonus might have been what enticed you to sign up to the online casino, it’s quite possibly the ongoing promotions which will keep you coming back for more.
Depending on which state you reside in, the types and frequency of promotions can differ quite considerably. However, there are often a number of common promotions offered by multiple casinos including:
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Reload bonuses – These are essentially smaller versions of the signup bonus you received when you first joined, except this time they’re tied to further deposits. They typically range from $10 to $100 and could be offered weekly or monthly based on the casino and promotion. Unlike signup bonuses, these are usually opt-in promotions where you explicitly choose to participate prior to making a deposit.
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Occasionally a casino may offer a promotion where any losses you incur on a particular day are refunded, up to a maximum amount. For example, if you deposit $50 and unfortunately lose it all, the casino may refund the same amount so you don’t end up out of pocket. These promotions can be great if you’ve got your heart set on trying out a particular game, but ultimately your playing skills aren’t quite up to scratch yet.
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Loyalty rewards – The better you play, the more chances you’ve generally got to score some iRewards points which can subsequently be exchanged for cash. We cover more detail on iRewards later in this article, however in summary it provides users with the ability to be rewarded for doing what they would otherwise already be doing.
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Refer a friend – As the name suggests, these promotions allow you to earn a reward for referring a new friend to sign up using your unique referral link. While the exact terms will vary by casino, typically both the new player and the existing player who made the referral will receive the same bonus.
Free Money – How Bad Can it Be?
Who amongst us hasn’t thought the answer to question 33 was hidden deep within that signup bonus Terms and Conditions document?
Jokes aside, understanding how signup bonuses operate and how they might apply to you, is critical in ensuring you get the most out of them. They certainly aren’t for everyone and if you’re someone who is disciplined and has a strong grasp of bankroll management, they might not be high on your priority list.
On the flip side, if you’re someone who tends to set fire to your bankroll every time you try to light a cigarette (yep, that’s a personal one), a well-chosen bonus could provide a useful tool to help curtail the negatives and perhaps even sprinkle on some positives.
One thing is for certain though, unless you’re being provided with actual “free money”, the operator almost always retains a inherent advantage, known as the house edge or , in virtually every casino game. This means from the casino’s perspective, it’s only a matter of time before you part with more than you originally deposited.
Signup bonuses provide a unique opportunity to turn the tables and introduce a small expectation, or even better a outlook, on certain games, squarely in favor of the player. So, how bad can that be? Pretty damn good if you ask us!
Don’t Forget About iRewards Points
Even if you decide a signup bonus isn’t for you, there’s still a fantastic loyalty program you can take advantage of called iRewards.
iRewards is completely optional and allows you to earn iRewards points while you play your favorite casino games. You can then exchange those points for cash, with one point equalling one cent (USD/CAD).
Unlike signup bonuses, iRewards points come with extremely liberal rules around how they can be redeemed and are the perfect way to introduce an expectation in your favor, since casino games typically contribute 5-10x the amount of iRewards points as contrasted with clearing a bonus.
Best of all, there are no complicated playthrough requirements, time constraints or maximum withdrawal limits. Provided you’ve got a positive balance, you can log into your account at any time and instantly redeem your iRewards points, giving you complete control and flexibility around how and when they are used.
Check if your casino is part of iRewards below and start earning money for playing the games you already love.
The Best Online Casino Signup Bonus is Different for Everyone
When it comes down to it, the ideal signup bonus is different for everyone and will largely depend on your individual style, preferences and goals.
Someone who is more focused on the overall casino experience and enticed by the absolute headline number, may find themselves better suited to a larger bonus with slightly harsher terms and conditions. Alternatively, those who are more concerned around the finer details of the T&Cs, may prefer a slightly smaller bonus with more favorable playthrough requirements and less stringent restrictions.
Ultimately though, all these options and variations are a good thing as they give you greater choice and flexibility around finding the one that best suits your individual circumstances and playing style.
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