Online Casino Deposit Bonuses – Take it or Not?
To take it or not to take it? That is the question now.
Since the first online casino launching, and the first deposit bonus offer, many things have changed. Explosion of online gambling resulted in literally thousands of bonus offers from online casinos. Nowadays, it is quite common to see ads for 500% deposit bonus, $5000 free or even $20,000 free. To good to be true? Well, my answer would be both - yes and no. It’s of crucial importance to know all the rules and terms before taking any of the lucrative offer. So, what types of bonuses are out there?
Cashable bonuses are usually the best deal, as bonus credit is automatically added to your account after the deposit and as soon as you reach WR (wagering requirements) your entire balance (including the bonus) is for you to keep! Good example of cashable bonus is at Intertops Casino – accredited and reputable Real Time Gaming Casino.
Bonus: 100% = $100
Wagering Requirements: 30x(deposit+bonus) = $6,000
In contrast to the example above, phantom bonuses are not cashable. In other words, after your first withdrawal request, the bonus amount will be removed entirely from your account. Phantom bonuses are usually very high and with less WR then cashable bonuses. Most players that take phantom bonuses are betting high, hoping for a big hit so they can still withdraw significant amount after the bonus is removed.
Unlike cashable and phantom, post-wager bonus is added to your account after you met WR. In other words, you cannot use bonus amount to fulfill your wagering requirements. You simple play with your own deposit funds, and after you have met wagering requirements the bonus will be added your account and it’s usually fully cashable.
Mixture of Cashable/Phantom:
Mixture of the cashable/phantom bonus is a common practice in MG (Microgaming) Online Casinos. The idea is simple. The bonus funds are added to your account and initially they are all phantom. As you play and wager, the phantom funds are converted into real-chips reducing the amount of phantom chips. The great thing is that you can actually withdraw your funds anytime even if you haven’t met WR. In that case, remaining phantom chips will be removed from your account.
Let’s get back to our main question. To take it or not to take it? Well, it’s totally up to you. But, if your answer is yes, then be sure to read all the information about the particular bonus and to fully understand what type of bonus are you taking. Also don’t forget to read all the terms & conditions related to bonus, such as wagering requirements, restricted and prohibited games. At the end, it will probably save your time and money!