Types Of Bonuses And How To Evaluate Them
Welcome to our comprehensive guide on evaluating online casino bonuses! If you're looking to get the most out of your casino experience, you've come to the right place. We'll walk you through the ins and outs of different bonus types, terms and conditions, and tips for maximizing your winnings. Let's get started!
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✖How We Rank Casino Bonuses using BonusRank
Not just any online casino makes the grade. We have a strict process for testing online casinos to determine whether we even list them.
Once we approve a casino, our team of experts starts the real work. And it's thorough. Our unique BonusRank algorithm considers all the important aspects of a bonus and calculates a score that allows meaningful and direct comparison between bonuses. You don't have to guess, our rating scale will clearly show you if a bonus is great, good enough, or should be avoided.
Read more about our BonusRank system and how we make bonus comparisons.
✖Understanding Different Types Of Bonus
Casinos offer a range of different bonuses. Some are free, some require a deposit.
Let’s introduce you to the main ones:
Evaluating Bonus Terms & Conditions
To evaluate casino bonuses, it's important to understand the terms and conditions.
Here are some of the major terms and their definitions:
- Wagering requirement: The number of times a player must bet the bonus amount before they can withdraw any winnings.
- Game restrictions: Certain games that do not count towards the wagering requirement or are excluded from the bonus altogether.
- Max bet: The maximum amount that a player is allowed to bet per spin or per hand while using bonus funds.
- Max cashout: The maximum amount that a player can withdraw from winnings obtained through a bonus.
- Expiration date: The deadline by which the bonus must be used, after which it will expire.
Understanding these terms and conditions can help players make informed decisions about which bonuses to claim and how to use them to their advantage. We will go over precisely how to do this below.
Bonus terms and conditions are really important. We recommend to all our visitors that they understand them before claiming a bonus. After all, you don’t want to end up disappointed!
Comparing Bonus Offers
Looking to make the most of your casino bonus?
If you read and understand the information below, you’ll be able to easily find the best bonus available:
Wagering Requirements
Generally speaking, lower wagering requirements are better, as they allow the player to more easily convert the bonus into real cash.
To illustrate the impact of wagering requirements on the chances of winning real cash, let's consider two hypothetical bonuses:
Bonus A:
- $100 bonus with a 30x wagering requirement
- Total amount that must be wagered: $3,000
Bonus B:
- $100 bonus with a 50x wagering requirement
- Total amount that must be wagered: $5,000
As you can see from the table below, the higher wagering requirement of Bonus B means that the player must wager a larger amount of money to convert the bonus into real cash. This reduces their chances of winning and makes it more difficult to cash out any winnings.
| Bonus Type | Bonus Amount | Wagering Requirement | Total Amount that must be wagered |
|---|---|---|---|
| Bonus A | $100 | 30x | $3,000 |
| Bonus B | $100 | 50x | $5,000 |
When comparing bonuses, it's important to look for offers with low wagering requirements. A lower wagering requirement means that the player can more easily convert the bonus into real cash and increase their chances of winning.
We get it! Wagering requirements not only seem complicated, but also difficult to satisfy. This is why we have created a page that makes them less significant!
On our No Wagering Casino page you will be able to find casino bonuses without wagering requirements, and casino bonuses with low wagering requirements! Enjoy
Max Cashout
In the case of max cashouts, the higher they are, the better. High max cashouts allow the player to potentially win more real money from their bonus.
To illustrate the difference between a high and low max cashout, let’s use an example:
Bonus A:
- $100 bonus with a $200 maximum cashout
- Player wins $300 from bonus
- Maximum amount they can withdraw: $200
Bonus B:
- $100 bonus with a $500 maximum cashout
- Player wins $300 from bonus
- Maximum amount they can withdraw: $300
As you can see from the table below, the higher maximum cashout of Bonus B allows the player to potentially win more real money, even if they are equally successful in using their casino bonus.
| Bonus Type | Bonus Amount | Maximum Cashout | Bonus Winnings | Maximum Amount That Can Be Withdrawn |
|---|---|---|---|---|
| Bonus A | $100 | $200 | $300 | $200 |
| Bonus B | $100 | $500 | $300 | $300 |
When comparing bonuses, it's important to look for offers with high maximum cashouts. A higher maximum cashout means that the player can potentially win more real money from their bonus.
Expiration Date
The expiration date is important to think about when considered alongside the wagering requirements.
If two bonuses have the same value and the same wagering requirements, but different expiration dates, the bonus with the longer expiration date gives you more time to complete the wagering requirements.
This means that you will have to wager less per day, increasing your chances of fulfilling the wagering requirements and cashing out your winnings.
For example, imagine you have two bonuses, Bonus A and Bonus B, both with a value of $100 and wagering requirements of 30x. The amount you would have to wager on average per day will depend on the length of the expiry date.
With some casino bonuses, these differences can be profound - as the table below illustrates:
| Bonus | Bonus Value | Wagering Requirements | Expiration Date | Daily Wagering Requirement |
|---|---|---|---|---|
| Bonus A | $100 | 30x | 7 days | $428.57 |
| Bonus B | $100 | 30x | 14 days | $214.29 |
In our example, Bonus A and Bonus B are almost identical. The only real difference is the length of time you get to satisfy the wagering requirements. This small difference leads to a huge difference in the daily wagering requirement.
Game Restrictions
Some bonuses may apply different contribution rates to different types of games. This is called game contribution. Game contribution refers to how much each type of game contributes toward the wagering requirements of a bonus.
For example, if a $100 bonus has a 30x wagering requirement and a slot game contributes 100%, you would need to wager $3,000 on that slot game to meet the requirement.
However, if a table game only contributes 4%, you would need to wager $75,000 on that table game to meet the same requirement.
In general, slots tend to have a higher game contribution rate than table games or video poker. This is because slots have a higher house edge and are therefore more likely to result in a loss for the player.
To illustrate this point, please consider the following table:
| Game Type | Game Contribution | Wagering Requirement |
|---|---|---|
| Slots | 100% | $3,000 |
| Blackjack | 10% | $30,000 |
| Roulette | 20% | $15,000 |
| Video Poker | 5% | $60,000 |
As you can see, the contribution rate dramatically affects how difficult it can be to satisfy the wagering requirements. Our advice is simple: only play games that contribute 100% to the wagering requirements.
Maximizing Your Bonus Potential
If you’re looking to get the most out of your casino bonus, there are some key strategies you can use to maximize your bonus’s potential.
Consider your budget
When it comes to match deposit bonuses, it’s not always the biggest bonus that will be the best for you. Instead, it’s essential to look at the percentage match of the bonus and consider how much you're willing to deposit.
For example, let's say there are two match deposit bonuses available at an online casino: Bonus A offers a 100% match up to $500, and Bonus B offers a 200% match up to $200.
At first glance, it may seem like Bonus A is the better option since it has a higher value ceiling. However, if you're only willing to deposit $100, Bonus B would be a better choice since it promises a higher percentage match.
To illustrate this further, let's arrange this information into a table that compares Bonus A and Bonus B based on different deposit amounts:
| Deposit Amount | Bonus A (100% up to $500) | Bonus B (200% up to $200) |
|---|---|---|
| $50 | $50 | $100 |
| $100 | $100 | $200 |
| $200 | $200 | $400 |
| $500 | $500 | $200 |
As you can see from the table, Bonus B offers more bonus credits for deposit amounts up to $200. So, if you're only willing to deposit $100, Bonus B would be the better choice.
Carry out research on the eligible slots
Want to get the most out of your casino bonus? Don't forget to do your homework on the eligible slot games! Slots are great for meeting wagering requirements, as they usually contribute 100% towards them.
But not all slots are created equal - some are better for playing with bonus funds than others. Look for slots with a high Return to Player (RTP) and low volatility. This means you'll have a better chance of winning in the long run, and a lower risk of losing your funds in the short term.
Take the time to research the eligible slot games and check the terms and conditions to ensure you're getting the most out of your bonus. By doing so, you'll increase your chances of walking away with some extra cash in your pocket!
As a general guideline, we’ve created a table that illustrates your chances of meeting the wagering requirements of a bonus depending on the slot:
| Slot RTP | Slot Volatility | Likelihood of Meeting Wagering Requirements |
|---|---|---|
| High | Low | More likely |
| High | Medium | Somewhat likely |
| High | High | Possible |
| Low | Low | Possible |
| Low | Medium | Unlikely |
| Low | High | Very unlikely |
Please note that this table is a general guideline and that there are other factors to consider when selecting a slot game to meet the wagering requirements of a casino bonus.
Look for our exclusive tag
Okay, that’s enough of the math and theoretical stuff.
If you want to bypass the need to analyze every bonus you find, you can just claim one of our exclusive bonuses. These are bonuses negotiated for you, by us. We prioritize improved T&Cs, higher bonus values and eligibility on the best games.
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Conclusion
If you take away anything from our article, it should be that finding the best casino bonus requires a holistic approach. Not only do you have to consider and compare the terms and conditions, but also how they interact with one another.
By taking these factors into account, you can find the bonus that best suits your needs and maximize your chances of winning. Thanks for reading! We hope it helps.
