Online casinos are all about bonuses. There are bonuses on offer in every step and this is one of the reasons why so many players prefer playing casino games online. But are all the bonuses as good as they look? Look carefully and you will come across some pretty tough terms and conditions at times.
The first bonus that you get in an online casino is a joining bonus. All the casinos offer joining bonuses on the players’ first deposit. Some casinos match the first deposit and some casinos even offer 400% of the first deposit as joining bonus. But how can casinos offer so much money when the player may just walk out with the joining bonus? Here lies the catch – you cannot cash out your joining bonus. You need to make wagers as per the requirements of different casinos and only then can you use the money. Many of the low risk games don’t let you use the joining bonus. Go through the terms and conditions before you join an online casino and see how they treat their joining bonus.
Cashable and non-cashable bonus
Cashable bonuses are those that you can cash out but these bonuses are very limited in number. What you mostly get from online casinos are non-cashable bonuses. These bonuses are also called phantom or sticky bonuses. So, you will see $100 in your account but you will not be able to cash it out. In the case of a phantom bonus the bonus amount disappears when you cash out. Sticky bonuses stay in your account till they expire.
Comp bonuses are available both on land based and online casinos. These bonuses can be cashed out or they can be used for complimentary offers and other prizes. However, earning comp points could be tough because of the small amount offered. For example, an online casino may offer 1 comp point for every $10 wagered and the value of 100 comp points may equal $1. So, in order to get $1 as comp you actually spend $1,000. The ratio – a measly 0.10%.
But then bonuses are bonuses and you can use them for increasing your chances of winning. When you use bonuses for playing games you don’t use your own money and any win is an add-on to your existing money. This is why, even though bonuses may not be as liquid as you expect they are still liquid.