In the heart-thumping world of casino games, the online casino bonus can feel like the golden ticket to big wins. But many gamers tend to skip the long and tedious terms that come with bonuses and go straight to accepting them.
As a result, there are two questions that baffle any casino gamer – can you withdraw the free money given to you with your online casino bonus? And is it possible to withdraw your bonus winnings from an online casino? Today, we’ll shed light on both and explain how bonuses work in-depth.
Breaking the Myth
If only it were so easy – you see a no deposit bonus offer stating that if you sign up for free, you will receive $10. Naturally, you’d want to sign up for the no deposit casino and claim some free bonus money, right? Some people are under the cheeky impression they can just withdraw the free credit and not even play in casinos. But what they fail to realise is that most online casino bonuses come with detailed T&Cs that make this impossible.
There is no way to withdraw an online casino bonus because you receive it in the form of bonus funds. Think of it as a unique dummy currency specific to each online casino.
In a similar way, many of you might be wondering if they can withdraw winnings made with deposit bonus spins credited by an online casino. While that’s absolutely possible, every casino gamer needs to comply with specific conditions to do so. These conditions are called wagering requirements.
And if this is the first time you hear of them, you likely didn’t read your welcome bonus Terms and Conditions. We get it. They’re long, annoying, and boring, but whenever you accept a casino bonus, whether that’s a no deposit bonus, free spins, or a deposit bonus, you must read them.
What Are Wagering Requirements and Why Do They Matter?
Online casinos are businesses, not charities. Therefore, they have set up terms each player must meet before they can withdraw a bonus. Typically, players would need to fulfil the wagering requirements (WR), also called “play-through” requirements. This is an amount that the casino determines to ensure you spend money on casino games.
For example, you see a deposit bonus that awards you the same amount of money you add to your account. You choose to deposit $100 to your casino account, so they add $100 to the bonus funds count.
The terms state that the bonus funds come with an x30 WR. To find out how much you need to bet before you can withdraw your wins made with the bonus funds, you need to follow this formula:
Your initial deposit x WR = the money you need to bet
So, in essence, your initial deposit was $100 x 20 = $2000. For some, $2000 might not be that much money. For others, it makes withdrawing wins pretty much impossible. That’s why it’s always important to read the terms of every offer you accept.
Worry not, though – not all casinos will have such steep WR. Additionally, only bonus funds contribute to the wagering requirement, so that’s great news. If you end up making several deposits afterwards and winning from them, the casino won’t multiply that money and count it towards that WR. Whew!
Where To Find Reliable Welcome Bonuses and Casinos
Another question might pop up. How do you find a reliable offers site from the plethora of shady casino bonus sites out there? Well, we recommend the tried and tested Big-Bass-Splash.net. They offer an excellent rotation of incentives with fair Terms and Conditions that won’t have you pay an arm and a leg!
Moreover, they can help you find reputable and licensed online casinos where you can safely enjoy the art of casino gaming. They explain in detail how they make their selection process and sift through the sea of unreliable sites to find only the best.
Some casino bonuses have additional terms. Essentially, your wagering contributions vary depending on the games you play. Once again, read those terms – they might list some games that do not contribute to your WR. This is typically a condition for free spins, and some slot games (usually those with a higher RTP) are omitted from the Terms. So, how can they contribute differently?
Well, let’s say you bet $1 on a table game that only contributes 80% toward your play-through requirements. In essence, only $0.80 will be removed from the WR. Deposit bonuses, on the other hand, tend to be more flexible, but you may see the opposite effect – that bets from slot games don’t affect your wagering contribution much.
Anything Else You Need to Know About Online Casino Bonuses?
Surely, that must be all. But whether you opt for a deposit casino bonus, free spins, no deposit, or another offer, you might run into a max cash out. Essentially, it is a cap on the money you can cash out.
Even if you fulfil the wagering conditions, there may be a max non-withdrawable bonus limit. Let’s say you win $2500 from some deposit bonus codes, but the maximum bonus winnings you can withdraw are $2000. The casino doesn’t want to end up at a massive loss from giving you a freebie, so you’ll need to forfeit your winnings and only withdraw the allowed maximum. This condition is very rare, but we wanted to include it here so you can prepare if it ever comes your way.
Have You Completed All the Above but Still Can’t Get Your Winnings Paid?
If you still can’t cash out any winnings at your preferred online casinos, it might be because you didn’t complete your profile. Every member needs to go through a verification procedure to supply the casino site with additional information and comply with the rules set by the site. You might need to send a scan of your ID and other personal details. This step is essential to prevent money laundering when playing online.
Yes, sometimes it can be tricky to withdraw your money from casinos. But don’t let that spoil your fun! Understanding the terms and conditions is essential to making the best out of your casino experience. And in many ways, it can even help you! Next time you accept free spins or any other type of bonus, ensure you read the small print. Remember to play responsibly, and we hope you have a blast!