Online Casino Guide | The Truth about Bonuses
A casino bonus may seem like it is there to gain new players and keep existing gamers happy whilst the casino owners take a minor hit in the name of a marketing strategy. The truth is the concept of casino bonuses is far more intricate and the motivations much more clever than people first think.
History of Bonuses
Bonuses have always been present since the first major casinos were constructed in the desert city of Las Vegas. However the bonuses back then were far simpler, and usually more desired by avid casino visitors as they consisted of free drinks or a private room upstairs for members. But since the evolution of the online casino we are now presented with more complicated bonuses, like the refer-a-friend bonus along with sticky and cashable bonuses.
The motivations for these bonuses are just the same as they were over one hundred years ago; player retention. Online casino bonuses are the most powerful tool in the marketing armoury to attract new players, while bonuses for existing players work to keep people playing and spending money. Plus, casinos actually do make money from bonuses.
Casinos make money from bonuses by utilising their carefully crafted terms and conditions. You know - the web page nobody ever bothers to read? The truth is that there is often a clause in those conditions which states that you must play a certain number of games or deposit a certain amount into the casino to actually take that bonus out as cash. This is known as the wagering requirement
This nearly always results in a profit for the casino because we all know that most games of chance are weighted in the casino’s favour – otherwise there wouldn’t be any casinos in business. This means that by the time the player has played enough games to withdraw the bonus, they will have in fact lost more money than the bonus is worth. It’s nothing sinister on the part of the casino, but the gambling industry claims millions from it each year.
How to Watch Out for Traps
The main trap which people always fall into with casino bonuses is the excluded games clause. The thing is with bonuses is that they are often only available for games of pure chance such as the slot machines and roulette tables. This means that the chances are high that you will lose your bonus long before you have played enough to withdraw it, or if you are lucky you will only use the value of the bonus.
Withdrawal conditions are also a trap because many casinos place a clause in their terms and conditions that you must also deposit a certain amount before you can withdraw. These apply even if you have fulfilled all of the wagering requirements. Wagering requirements easy to fulfill can be found at Jackpot City Casino.
While these tactics may seem dirty and underhand by the casino, the truth is that they are doing everything by the book and everything is well within the law. The problem with most people is that they are lazy and that they are unwilling to read through the terms and conditions prior to playing, depositing, or signing up.
The tactic you can use here is to read the terms and conditions before agreeing to or depositing anything so you won’t be hit by any nasty surprises later on.