Whether betting online or at a traditional land-based casino, many casinos offer special bonuses to lure new bettors and keep them coming back.
The most popular bonuses are free plays, no-deposit bonuses and deposit multipliers. The illusion is that each bonus looks great and offers a free chance to win real money. The reality, though, is many come with extensive restrictions that make it virtually impossible to cash out your winnings from casino bonuses.
So that you don’t get scammed by a casino bonus offer, here’s some tips on how you can protect yourself by ensuring there are no hidden restrictions that make it nearly impossible to win real money from bonus plays.
Online gambling around the globe is growing at better than 10 percent each year, and should top the $500 billion mark this year. If the United States joins the ranks of nations with legal online gambling, that rate of growth should increase sharply.
Even under current growth rates, which gambling industry experts say will continue into the next decade, the competition for new gamblers is high among online casinos. That means lots of bonus offers that vary from being very worthwhile to virtually worthless and little more than free practice.
The most common way casinos scam bettors with bonuses is to require the gambler to wager the value of the bonus many times over before withdrawing any of the potential winnings. That requirement could be more than 25 times the initial bonus amount. Yet, it takes only one loss to wipe out your entire bankroll from your bonus winnings.
Whenever offered a bonus from an online or land-based casino, you should read the fine print and ensure there are not hidden restrictions that might make it virtually impossible to win real money.
The best casino bonuses will let you withdraw at least some of the winnings right away from your bonus plays. The rest you likely will need to wager several times over before you can withdraw it, but you still get some free cash up front.
Whenever possible, it’s best to find casino bonuses that let you withdraw some of your winnings right away, and then wager no more than five times more the remaining bonus value before you can withdraw your winnings.
If the casino does not let you withdraw some of the money right away, ensure it will not require you to wager more than five times before you can take money from your account. That protects your bankroll and ensures you do not waste time on casino bonus scams.