Online gamblers must know the algorithm working in online casinos to offer bonuses in 2022
Many online casinos have bonuses and giveaways designed to attract new customers or to reward loyalty. The promotions come in many types: free spins, no deposit bonuses, cash-backs, and loyalty programs.
Now, these giveaways aren’t exactly free money. They are marketing tools. When an operator gives you a bonus, it expects you to create an account, make a deposit or spend more time playing its games.
That said, casinos lose money through bonuses sometimes. However, they minimize these losses by setting certain rules that everyone who claims their bonuses must follow. Learn math they use to set the rules below.
The Bonus Amount
Every casino has a limit on its bonus amounts. This limit depends on the bonus type, the amount of money you deposit, and whether you’re a VIP customer or not.
With no deposit bonuses, the bonus amount is usually small. It could be $10 or $20 but it’s hardly ever beyond $50. Why is it so small? It is a bonus that does not require you to deposit money.
It’s an offer to play casino games and maybe win money without even linking a credit card. Casinos have to keep this bonus low to limit their losses.
Deposit-based bonuses attract bigger bonuses. Depending on the casino, you could qualify for a bonus worth $20 to $5000. Normally, the casino matches your deposit amount 100% or 200%.
Wager requirements are one of the most brilliant business rules casinos ever created to minimize losses on their bonuses. Picture this. You earn a $100 bonus. You use the money to play the Bonanza Megaways slot and win $20,000.
For you, that is the equivalent of free money. For the casino, it’s an enormous loss. Now, imagine if everyone else won something from their bonuses and cashed it out. Casinos would go bankrupt.
Wager requirements cushion casinos from bonus losses by ensuring every player plays through their bonus amount 0x to 40x. If you earn a $100 bonus with 40x play-through, you have to spend $4000 at the casino before you withdraw any bonus winnings.
In many cases, you’ll usually lose some of your $4000 to the casino. With everyone else also fulfilling wager requirements, casinos end up recouping their bonus giveaways from play-through requirements.
With that in mind, some casinos are generous enough to give you bonuses with no wager requirements. The casinos at https://fruityslots.com/casino/bonus/no-wager/ are a great example. If you win money from these bonuses, you can withdraw it instantly.
Games to Play and Betting Limits
Even with a small bonus, there are casino games you could play and win a lot of money. Think of progressive jackpots like Mega Moolah and Mega Fortune. These games pay out upwards of $1M to lucky winners.
To avoid taking huge losses through bonuses, casinos dictate the games you must play and the bets you have to play. Don’t worry, though. The best casinos provide a selection of quality games, mainly video slots like:
- Book of Dead
- Immortal Romance
- Thunderstruck II
You can also play table games using casino bonuses. But you might not be allowed to play high-stakes games. Betting large amounts magnifies your potential profits. So, casinos work around this issue by setting low limits for bonuses.
Another way casinos limit their losses from giveaways is by setting a limit on the amount of money they can withdraw. Once again, the cashout limit for bonuses depends on the bonus type, the casino, and whether you’re a VIP.
No deposit bonuses have the lowest withdrawal limits. It ranges from $100 to $300. First deposit bonuses have better withdrawal caps, $500 to $5000, or no limits at all.
In light of that information, it’s essential to choose a casino with a decent bonus limit. You could get lucky and win $10,000 as a bonus. In that case, you will wish your casino has no limit for bonus winnings.
Wouldn’t it be amazing if bonuses had no expiry dates? You could grab a huge bonus and use it for as long as you want. Unfortunately, every casino places a validity time frame on its promotions.
First, there’s a validity period for using a bonus. Many no deposit bonuses have a validity time of one to seven days. Deposit-based bonuses remain valid for 30-45 days.
On the other hand, there’s a time frame for fulfilling wager requirements. It varies from 30-90 days. Of course, pick casinos with a long play-through fulfillment period. Otherwise, you might fail to fulfill these terms in due time. And you could lose your bonus.
Game weighting and wager requirements go hand in hand. Game weighting determines how much money goes toward fulfilling play through when you play different casino games.
More often than not, video slots contribute 100%. By comparison, table games contribute 5% to 20%. As we mentioned earlier, these rules are designed to help the casino’s bottom line.
If table games were to contribute 100%, casinos would make losses from bonuses. Poker is a game of skill, meaning some people can mathematically fulfill their wager and also make profits.
With slots, it’s all about luck. Sometimes you win. Sometimes you lose. This helps casinos make money when you lose while fulfilling your play-through.
Additional Bonus Rules
In almost every online casino, you can’t claim more than one bonus at a time. If you opt to grab a live casino bonus, you can’t accept a reload bonus. Doing so disqualifies you from any amount of money you might win from these bonuses.
Another rule is that you can only use certain payment methods to claim bonuses. At many casinos, you can’t use Skrill and Neteller. But you can use PayPal, EcoPayz, Visa, and MasterCard.
Casinos risk losing a lot of money by giving out bonuses. Yet, they continue to give out these freebies to both new and existing customers. To ensure they don’t lose so much money, however, they set the rules we’ve mentioned above.
They have limits for the maximum bonus you can claim, the maximum you can withdraw and the maximum you can bet. Then you have to fulfill the play-through and follow game weighting requirements.
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