There are many different types of online casino bonuses available. The simplest would be the No Deposit Bonus. This would involve the player registering a real account on the online casino offering the bonus. Although there may be limitations on this bonus, like the maximum amount that can be withdrawn, it is often very simple to obtain the winnings. Another kind are $1 minimum deposit bonuses, which are a bit more generous than the no deposit bonuses. As noted in the above discussion, online casinos give away free money in order to keep players wanting more and get them to deposit money on other available online games. Online casino games also use the notion of wagering requirements and limitations. Another term used to explain wagering is betting. This, as mentioned previously would be when a player needs to play through certain requirements, such as making $2,000 worth of bets before cashing out. Wagering requirements are necessary for online casino games to have as without them players would just leave with the free money. Leaving without giving something in return (like making a number of bets before cashing out) is seen as a risk by online casinos. Wagering requirements assist with this notion of risk, and all players have a weak spot for free bonuses and spins. However, a big bonus may not be all that it is cut out to be when the player does not understand the terms and conditions of wagering requirements. If it sounds too good to be true…it probably is. The more generous the bonus, the higher risk of having wagering requirements attached to it. An example of this would be the online casino game mentioning when the bonus will expire, and if the player does not play the wagering requirement within a period of time then the bonus will disappear.
Online Casino Wagering requirements
It can be noted that online casinos offer bonus to players joining in an attempt to encourage players to gamble and see everything that is on offer. However, online casino wagering or play-through requirements also come with these free spins and bonuses before money can be withdrawn by the player. Casinos must have play-through requirements in order to counterbalance the risk and costs imposed in offering free spins in Canada and bonuses to players.
In order to explain how to get past play-through or wagering requirements more accurately, it is important to understand how they work. Most casinos use the bonus amount when calculating the requirements, although some use the deposit amount or deposit amount + the bonus amount. For simplicity we will explain the most common form where the wagering requirement is based on only the bonus amount.
The wagering requirement is the amount of bets that a player would need to play through in order to be able to cash out. The number (normally symbolized by an X) represents the amount of times the player needs to play through the bonus amount. The bigger the bonus is, the larger the wagering requirement will generally be. So, for example, the online casino may offer a player 100% match bonus up to $200 with a 10X wagering bonus requirement. This would mean that the player who deposits the maximum $200 then would be awarded with the $200 bonus, leaving the player with a total of $400 to play with. This money cannot be withdrawn until the player places $2000 worth of bets (10X the Bonus Amount of $200) on the online casino games.
Play-through requirements can vary in difficulty. The online casino may even offer a bonus with no play-through requirements. This no wager bonus money is usually given to players in order to tempt them into engaging in additional games or to join and test their casino experience. On the other hand a player may need to meet the minimum wagering requirements of up to 50X or more before they can obtain any of the bonus money in their accounts. Generally, the higher the bonus the higher the play-through requirement will be.
Online casino games, such as slots or blackjack, differ in the percentage they contribute to the wagering requirements. Some games contribute 100% of the bets wagered towards the requirement while others have little to no impact. It is important to note each casinos requirements and we go through those requirements in each of our casino reviews. Here is an example of the different percentages:
- 100% on all slots, scratch card games and keno
- 10% on select Blackjack games and Video Poker
- 2% on All Aces Video Poker and Classic Blackjack
Using this table and the example above of having a $2000 wagering requirement, a player would need to wager only $2000 if they solely played slots and keno but would need to bet $20,000 if they were to only play blackjack games and video poker. Certain variations of these games or select slots can have a different percentage as well, as can be seen from the 2% requirements for classic blackjack. Of course, the math gets more complicated if you play a mix of games at different percentage levels. Do not let that stop you from having a full experience at the casinos but it is something you should be aware of while assessing which casino to join and how you can get to the cash out sooner. In order to get to withdraw winnings earlier, it is important to focus on games with higher contribution percentages and stick to your betting strategy to increase your odds of being able to cash in.
Low wagering bonuses
With play-through explained above it is crucial to also understand low wagering bonuses as well as the advantage that they can have for the players. As with high wagering bonuses, where players need to make a certain number of bets before they can withdraw their winnings, low wagering bonuses present players with the added advantage of being able to draw out their winnings quicker without having to spend hours placing bets. This allows the players to cash out quicker and free up some of their money. Players that engage in high wagering bonuses stand a greater risk of losing their money. Looking for a casino with low wagering requirement is often a balancing act. Usually the lower the wagering requirement the lower the bonus you receive. The best casino bonuses are usually for large amounts of money where they match 100% of the deposit but often come with 40X or 50X play-through requirements. You can find 30X or lower requirements but it usually means the amount offered is lower or the match percentage is smaller, like 25 to 50%, giving you less bonus money for your deposit. Casino Canuck takes the bonus and play-through requirements into prime consideration as we rate our top online casinos.
No wagering bonuses
Some casinos offer welcome bonuses or promotion, such as free spins, without any need to wager the winnings. As you would expect these bonuses are usually much smaller in nature and have many more restrictions placed on being able to cash them out. It is common for the online casinos to place a cap on the amount of winning you can withdraw. The key point here however is that, even though the winnings may be capped, you can withdraw them right away. This is actually a responsible and trust building practice for the casino. They can demonstrate, to you the player, that they will pay out winnings and to ensure the withdrawal process is set up correctly. It is a common complaint that documents required for withdrawals are not done properly and thus to get confirmation that the whole withdrawal process is working properly, is a good business practice. Do not be discouraged by the maximum winnings cap. Online casinos would not be in business without them, on deals such as these, so they can avoid bonus abuse and frauds.
As seen in the above discussion on high and low wagering, the best online casino will give you great bonuses that also has low wagering. However, as enticing as this may sound it is always advisable to select casino games that offer accurate representations of wagering and a realistic play-through. High wagering games mean players cannot withdraw their cash immediately and would need to keep playing until the wager is met but in return they are often given much more lucrative bonuses. No wagering casinos are an excellent way to test out new casinos and get to experience all they have to offer.
Although wagering is a necessary evil for casinos it is vital to remember that knowledge is power and that wagering requirements can be beaten if played correctly. Low wagering online slots are better as they give players a higher chance of cashing out their winnings and also give players the opportunity to cash out faster. As seen with slots and other online games, choosing the correct online games to play is just as important as reading the fine text and choosing the right wagering procedure. Check out all our our Canadian online casino reviews before coming to a decision on your favourite casino.