The online casino world has been growing at a tremendous rate in the last few years. If you look into a recent report by Grand View Research, you’ll see that the global market was valued at USD 17.13 billion in 2023. The report goes on to explain how the market was expected to grow at a 12.4% rate from 2024 to 2030. But why is this whole growth happening at such a rate? Well, there are countless reasons, starting from technological advancements, relaxed regulations, convenience, etc. But one reason stands out. Casino bonuses! The crème de la crème of the iGaming industry.
Casino bonuses and promotions have been used by casinos not only to increase their brand recognition but also to invite more players and enhance customer loyalty. For instance, when you find verified online casino promotions, you just can’t help but claim them, considering the fact that they will help mitigate your risks via refunds and free games and spins. Well, a 2023 survey by the UKGC showed that 65% of gamblers had received casino bonuses in the last year. In fact, 94% of the respondents claimed that bonuses made their gaming experience more fun.
But now, there comes an issue. Are all bonuses worth it? Are there things that players look at when they look for good casino bonuses? Basically, this article aims to answer this second question.
Bonus size vs the real value
The bonus size is most probably the first thing that you will notice when you come across a casino bonus. For example, you can see a welcome bonus written 200% up to £2000 + 200 free spins. This gives you an idea of how much you can withdraw from the bonus winnings. On one hand, you might say that the bigger the bonus, the better, but you should know that bigger is not always better. There is the real value of the bonus.
But why isn’t bigger necessarily better? You see, there are also a number of things that can make the bonus less inviting or of lower value. For example, if you are given a £650 bonus with a 50x wagering requirement, then you’ll find it less inviting than a £400 bonus with a 20x wagering requirement. Maybe you are wondering what these wagering requirements are, but do not worry. You will get to know as you continue reading on.
Another aspect that can affect the bonus size is the withdrawal limits. You might get a big bonus, but with capped winnings. For instance, a £150 bonus capped at £450 is less valuable or inviting than a £100 bonus with a £1000 cap. Also, there are bonuses that allow you to withdraw the bonus winnings plus the bonus (cashable bonus) or bonuses that you can only withdraw the winnings but the bonus itself cannot be withdrawn (non-cashable bonus).
The wagering requirements and bonus terms
As promised, let’s explain what wagering requirements are. They are basically the number of times you are supposed to wager your bonus so it can become withdrawable. For example, if you have a £100 bonus with a 20x wagering requirement, then you are supposed to bet £2000 before you can withdraw the bonus. Now you see why the higher the wagering requirements, the less inviting a bonus is. By the way, it is very important that you go through the fine print of a casino bonus before you claim it since many people have been heartbroken by wagering requirements.
Other terms you should consider before claiming your bonus include game contribution and expiration dates. You should know that not all games contribute equally to the wagering requirements. For instance, slot games might have a 100% contribution, but table games like roulette and blackjack only have a 10% contribution. Also, there are bonuses that can only be wagered on specific games. If your bonus can only be wagered on “Book of” slot games, then any other title you play will not contribute to the wagering requirements.
Now, what about the expiration date? This is the period by which you should have finished your wagering requirements. If you do not fulfil all your wagering requirements by the expiration date, then whatever winnings you’ve made, plus the bonus, become void. It is, therefore, very important that before you can claim your bonuses, be sure that you have enough time to fulfil your wagering requirements, or else, you will lose everything, including your time.
Casino reputation and credibility
The credibility of a casino remains a big factor when you are choosing your bonuses and promos. You see, not all casinos exhibit the same level of transparency. Some of them might have hidden charges and costs that might end up ruining your experience. Because of that, you need to make sure:
- The casino is regulated by a reputable authority. If the casino is operating in the UK, it must be licenced by the UKGC. This gaming authority ensures that all casinos adhere to safe gaming standards.
- Read through user reviews and ratings: Go through online reviews and players’ feedback to ascertain whether the casino can be trusted or not.
- Go through the bonus terms: A good casino will have hidden clauses with fair terms.
When you are sure about the credibility of an online casino, then you can be sure that even their bonuses will not backfire on you. By doing all these, you put yourself in a position where you can easily enjoy your bonus in peace.
