Important Things to Understand about Welcome Bonuses Before Signing Up w/ an Online Casino
Welcome Bonuses have become staple features in online casinos but offered only to players signing up and placing a deposit with the casino for the first time. Since the amount offered as “Welcome Bonus” tend to vary among online casinos, it often serves as a point of comparison for newbie players. If you’re reading this because you want to know more about Welcome Bonuses, our explanations below can enlighten you on how sigh-up bonuses really work.
While an online casino will reward you with bonus money for signing up as a member, it’s also a way of getting you to place more money in your account. At the same time, an online casino will have a leverage on how much you can rake in as winnings when using the extra money. They do this by imposing wagering requirements that you have to meet before you can withdraw any winnings gained from gambling at the site.
Moreover, bear in mind also that not all online slots and casino table games are available as playing options when wagering the bonus money. This is another aspect to consider because there’s a separate accounting for your real money deposit and your bonus money. This is important because when playing through, you might think that all your bets are being deducted from the bonus funds, and that you are making progress toward fulfilling the wagering requirements.
What are Match Bonuses?
Some online casinos offer bigger Welcome Bonus, while some others offer lower amounts but come with Match Bonuses as part of a bigger package. In addition to the Welcome Bonus, Match Bonuses will also be available after you’ve used up your Welcome Bonus money. .
Match Bonuses are given on the second and third, and sometimes up to the fifth deposit you place in your account and after playing through with the Welcome Bonus. These offers could easily convince you to sign up with that online casino, even if the Welcome Bonus is not as large as those being offered by other online gambling sites.
In all cases, what you need to keep an eye on are the wagering requirements because they are conditions that require you to wager a certain amount of real money within a specified period. They are conditions you have to fulfill before you can withdraw whatever winnings you gained from the Welcome Bonus and/or Match Bonus. If on the other hand, you didn’t gain any winnings from the bonus money, the wagering requirements will not apply. You can simply proceed using the money you deposited in your real account.
How Do Wagering Requirements Work?
Let’s say the Welcome Bonus is 100%, and your initial deposit is $20, it means you’ll get an extra $ 20 to place as wagers If the wagering requirements is 5x the amount of bonus money you received, it means you must have wagered at least $100 (5 x $20) before you can withdraw any winnings you have amassed from playing any of the eligible online casino games.
Moreover, you must do so within the specific time frame stated as part of the terms and conditions, usually stated as number of days, e.g. 5 days, 10 days or even 30 days. If you are unable to meet the wagering requirement within the specified period, all bonus winnings gained using the bonus money, will be forfeited.
As a note, in case you chance upon online casino sites that are exclusively for players located in Australia, the Welcome Bonuses and wagering requirements works similarly every Australian Online Casino. The exclusivity is usually for monitoring purposes of the online gambling operators.
While Australia’s Interactive Gambling Act does not prohibit Australians from accessing foreign-based online casinos, offshore gambling operators not locally licensed and regulated by the regulators of an Australian state, are not allowed to operate their Internet-based operations in AU jurisdictions.