Protect Yourself by Understanding Casino Bonuses
The majority of casinos attract new business by offering players an alluring casino bonus. It's worthwhile knowing how these bonuses work and how they affect you.
WHY DOES A CASINO OFFER A BONUS?
This is the bit it's easy to understand. By offering bonuses, typically in the kind of free chips or cash, casinos aim to attract and retain players. In effect, the casino uses the bonus as a sort of aggressive promotion to woo your patronage. It is like a retail store offering a free item with a regular purchase.
TYPES OF CASINO BONUSES
Casinos provide two basic sorts of bonuses: first deposit and loyalty bonuses.
As a first deposit bonus, the casino provides you cash to thank you for becoming a member. This sort of casino bonus is usually paid after you have signed up and paid your initial balance into your Real Money account. The casino will often match whatever you deposit up to a maximum amount, which may be $100, for example. Or your bonus may be a percentage of your deposit up to a specified maximum, such as a no cost 50 percent of the first $250 you deposit. These figures may differ considerably at various casinos, and individual casinos may periodically alter their bonus offerings.
Casinos attempt to maintain their existing customers by offering a loyalty bonus, which is a sort of advertising used by the casino to thank you for your continuing patronage. By way of example, the casino may add an extra 20 percent to the initial deposit made in a particular month, or it may add 10 percent or so to however much you deposit in a month.
WHAT'S EXPECTED OF THE PLAYER
In nature, the casino expects you to identify yourself honestly, refrain from cheating, observe the casino rules stipulated in the terms and conditions, and agree to the terms that apply to cashing in when you win.
It ought to be understood that you will continue your trip and play for a while when you have accepted a bonus from a casino. There'll be a"wager through requirement" - a clause requiring that you need to wager a minimum amount of cash before you can qualify to get your bonus. This minimum stake is usually equivalent to some multiple of your initial deposit, or equal to whatever straight bonus you have been granted, or it may be the sum of both those amounts. You will generally find details on this"wager through" in the printed terms and conditions of the casino. Your minimum total bets may have to be anything from 3 to 20 times the amount of your initial deposit. By and large, a larger bonus means a larger wager through requirement, but there are many exceptions.
WHAT'S EXPECTED OF THE CASINO
As a player you may expect the game play at the casino to be fair and your winnings to be paid honestly and promptly. This much must be self-evident. But be aware that the nature of the games and payouts may change over a period and you will be expected to abide by any corresponding changes in the terms and conditions.
The nature of these games may change if the casino upgrades its software to enhance various features of play or finds it necessary to change its payout percentages from time to time to maintain fair charge of the"casino hold", that is the average profit the casino may be qualified to earn from money paid in by players. Payouts are likely to change in Slots and Video Poker.
The terms and conditions of a casino are just like a contract between you and the casino. They reflect the manner in which the casino undertakes to provide service to you, the player - so be aware that the casino may want to adjust and tune its bonus and wager through conditions at various times.
The casino's terms and conditions spell out clearly what is required in the behaviour of the casino and its players. In any dispute, the casino will expect the player to obey the spirit and probably the letter of the agreement. In life, as in law, ignorance isn't a defence.