Key Facts About Casino Bonus Requirements
The competition in the online casino market is fierce and most of the companies are looking for new ways to promote their platforms. Casino bonuses offer a great value to new and returning players, giving them a chance to test out the casino offer at a lower financial risk. At the same time, casinos have a chance to attract new customers and build a loyal customer base. Most of the bonuses come with casino bonus requirements, which we will explain in detail below.
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Welcome Bonuses and Casino Wagering Requirements
The most common types of bonuses offered by online casinos are casino welcome bonuses. Casinos offer new customers a chance to double (or more) their initial deposit amount if they decide to play on their platform. It is a win-win situation for both players and casinos. Some of the key benefits that players will receive along a Welcome Bonus:
- Freedom to test out the casino offering without any financial risk. They can use awarded bonus money to try out different casino games.
- A better chance to receive a big payout, since players will have more chances to bet, prolonging their gaming experience.
Most of the welcome bonuses come with casino wagering requirements. In short, Casino Wagering Requirements are a set of rules that restrict the withdrawal of funds stemming from the bonuses awarded or winnings generated from those bonuses until a certain bet amount has been reached.
For example, new player deposits $100 and casino rewards him with an additional $100 in bonuses. Most of the casinos will set a certain multiplier on the initial deposit and bonuses, that has to be wagered until awarded bonuses and bonus winnings can be withdrawn by the player. Multipliers vary from 20X to 60X depending on the casino. So, in reality, the player has to wager $6000 in bets for the 30x multiplier with an initial deposit of $100 and $100 Welcome Bonus.
The bonus offering in online casinos varies from platform to platform, so feel free to explore different platforms and find the bonus structure that is the most appealing to you. What might be ideal for high volume players might not be the best solution for recreational players.
Casino Bonus Requirements Protect both Players and Casinos
It is a common mistake to conclude that Casino Bonus Requirements were created in order to restrict the withdrawal of funds by players. Online casinos are highly motivated to build a loyal customer base and want players to be satisfied with the casino offering. Casino Bonus Requirements were introduced to:
- Prevent hit' n 'run bonus hunters who deposit in order to qualify for the bonuses and immediately withdraw their deposits and bonuses.
- Maintain a financial incentive for casinos to offer bonuses to new and loyal players. Limiting the number of hit'n'run players gives a greater incentive to casinos to offer their loyal players more bonuses.
- Encourage players to try out a variety of casino games offered. Some players will never discover new games they might enjoy unless there is an incentive for them to try them.
Maintaining a wealthy offer of bonuses and incentives for players in online casinos is key to building a loyal customer base for online casinos. In order to maintain that, a fair bonus and incentive structures are necessary.
All players enjoy receiving bonuses for casino play and trying out new games, looking for their new favorite game. Casinos offer a variety of real money casino games. Keeping a steady influx of new players is directly related to the offers and bonuses online casinos are willing to offer.
A Need for Transparency
It is of utmost importance for online casinos to provide clear and transparent Casino Wagering Requirements when players apply for certain bonuses. It is in the interest of player satisfaction that players are aware of the requirements before they are allowed to withdraw their winnings. Nobody likes to feel tricked or cheated into accepting a bonus offer, without knowing the requirements that the offer is carrying. Players appreciate honesty and fair treatment from online casinos and are loyal to the platforms that behave that way.
Ethical online casinos always offer:
- Clear and visible instructions regarding the casino wagering requirements for players.
- A possibility to withdraw the original deposit regardless of the amount wagered (this withdrawal does not include awarded bonuses and winnings stemming from the bonuses).
- A fair time limit to fulfill the casino wagering requirements. Unrealistic time limits will put players off and results in fewer deposits in the long run.
- A variety of games offered in order to fulfill the casino wagering requirements. Restricting players to only one or a few of the games that they can play is counterproductive. Let players explore the full casino offer and there is a larger chance they will stick around.
- Interface which makes it easy to track the rate at which Casino Bonus Requirements are being cleared. Make it clear to players that each bet they place contributes to bonus clearance.
Maintaining a professional and ethical relationship with players is key for online casinos. It is not easy to attract new players in the first place, due to the competition in the market. So, keeping players happy and willing to return, must be high on every online casino's agenda. Keep all of these things in mind when choosing the right online casino for you.
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