What is a Casino Bonus?
The online casino industry is very competitive and this is the reason why almost all online casinos offer new players a first deposit bonus for trying out their casino. A typical casino bonus is around 100% up to $500, but this maximum amount varies drastically from around $200 right up to $2500. The casino bonus is meant to bring players to the site by offering them free money. The money is in fact free and at most casino’s the bonus amount is immediately added to the player’s real money account, but the bonus amount can never be withdrawn. It is just for wagering and the player must wager it a certain amount of times before being able to withdraw the winnings.
Clearing an Online Casino Bonus
A typical online casino bonus must be cleared before it can be used for betting at the casino or sometimes before the player can make any withdrawals. Online casino’s use clearing conditions so that players can’t just make a deposit and then leave the site with the extra money without even risking a cent. At most casino’s the bonus is added to the players account, but the bonus amount can never be withdrawn and is only for betting purposes. The catch here is that when the player bets they are betting with their deposit until the deposit amount is gone. Then the player still has the bonus amount to try to win their money back, but only winnings from this bonus can be cashed out and usually the bonus amount must also be wagered a certain number of times before the casino allows the player to cash out. These conditions ensure that the casino has a good chance to make money because the player must play with their own money first and only is allowed to use the bonus amount if they lose all of their original deposit.
How do you clear an online casino bonus?
Typically in order to clear a casino bonus you will have to wager the deposit and bonus amount a certain number of times before you are allowed to cash out. For example, at Cherry Red Casino, you must wager the total amount 15 times before you are able to cash out. Furthermore, the wagers must be at specific games that have a huge house advantage such as the online slot machines. This prevents players from clearing the bonus at games with a low house edge such as blackjack or roulette. The house edge is so bad at the slot machines that a player will typically lose his entire deposit and some of the bonus while trying to meet the wager requirements. Basically the moral of the story is that casino bonuses aren’t going to make you money, but if you are just playing the casino to have a good time anyways, then the bonuses will keep you in the game longer and they will actually give you a better chance to turn a profit.
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