What are Online Casino Bonuses?
At CasinoManual.co.uk, you will see the online casinos offer various bonuses to entice you to deposit – in this article, we explain the various casino bonuses on offer including how they work and what they mean for you.
You may ask yourself why online casinos are giving away bonuses. The answer is quite simple – overheads are not as high as at land-based casinos in Las Vegas and there is a lot more competition online. Bonuses are a great way to get you to deposit at the particular casino and you can play your favourite casino games using more than just your bankroll.
Wagering Requirements and Game Restrictions
Online casinos use wagering requirements and restrictions in order to protect the bonuses they give away. Wagering requirements are also referred to as play through requirements (or playthrough). A wagering requirement will be displayed with a number and an ‘x’. This means the number of times you have to stake or bet your deposit amount, bonus amount or deposit plus bonus amount in order for the bonus to be cashable.
For example, the wagering requirement for a welcome bonus can be 40 times the bonus. This means that you need to play the bonus amount 40 times in order to withdraw the bonus amount. Let’s say the bonus offer is a 100% match bonus up to £200 – this means you will have to wager (or bet) £200 x 40 which is £8,000. In terms of game restrictions, the bonus is normally allowed fully on video slots – this means that stakes/bets made on other games such as blackjack or roulette will not contribute fully to the wagering requirements.
Some online casinos allow wagering on blackjack but the contribution is only 10% meaning that if you wager £100 playing blackjack (except Blackjack Surrender, Blackjack Switch and Lucky Blackjack) your contribution to the bonus wagering requirements will only be £10. This is because blackjack games have a low house edge (which means that the margin for the casino on blackjack games is very low.
Online casinos, on average, don’t lose when giving away this free money. Let’s stake a 100% match bonus up to £250 with 30 x deposit plus bonus wagering requirements:
- If you take the maximum bonus, £250, and calculate the total wagering you would come up £15,000 (£250 + £250 = £500 x 30 = £15,000).
- If you multiply £15,000 by 100% minus the overall payout percentage, 2.5% (100% – 97.50%), the amount left is £375.
- This is obviously higher than the £250 bonus offered so technically the online casino is not losing out – this is of course based on averages.
If you want to see all the wagering requirements as well as game restrictions for each recommended online casino, visit their individual review which has all the details you’ll ever need. These details can also be found on the bonus Terms & Conditions section of any bonus – each offer on CasinoManual.co.uk has the Terms & Conditions clearly visible (a requirement from the UK Gambling Commission). If a deposit bonus doesn’t show Terms & Conditions, ask their customer support or run a mile!
Bonus Categories
In terms of bonuses, there are many different ones available. The second part explains that but CasinoManual.co.uk will highlight whether a bonus is cashable, sticky type I or sticky type II. There are fundamental differences which mean different for you as a casino player. We now explain.
Cashable Bonuses
Cashable bonuses are exactly what they say they are – cashable for you. In order to cashout the bonus, you must complete the wagering requirements on the games allowed. Both the requirements and games allowed/restricted vary from casino to casino. It’s important to read the Terms & Conditions to fully understand what you need to do in order to cashout the bonus.
One thing to note – many online casinos will void the bonus if you request a withdrawal. The good news is that your actual bonus/funds won’t be voided – this is your money and always will be! If you are to withdraw, make sure you have completed the wagering requirements before initiating the process. If you unsure as to how much wagering you need to do, contact the customer support team who will/should be happy to help.
Sticky Type I Bonuses
A sticky type I bonus is one that can be used to wager but you are unable to withdraw it. All winnings from the bonus can be cashed out once you make a withdrawal from the casino. If the bonus is £100 and you win £50, you will technically have £150 in your account to play with. With this bonus, only the £50 you won will be available to withdraw. Then the sticky type I bonus is removed from your account permanently. The good thing about sticky I bonuses is that you have the opportunity to use it to wager, thus increasing your chances of completing the wagering requirements successfully.
Sticky Type II Bonuses
A sticky type II bonus is the same as a sticky type I bonus but the difference between them is that the type II bonus won’t be removed if you do withdraw. You can still use for wagering and can continue to use the bonus amount going forward to increase your chances of winning. Therefore, sticky type II bonuses are more appealing than sticky I bonuses.
Summary
In general, bonuses are good to use when trying to complete the wagering requirements. You should always look for cashable bonuses and if you are unsure what the bonus is, please feel free to contact us and ask. All advertised bonuses should have clear Terms & Conditions so you know what you have to do in order to cashout the bonus or any of the winnings. If it’s not clear, ask the customer support team or steer clear.
What now?
Want to find about the various bonuses/incentives that online casinos can offer you? Read our Different Types of Online Casino Bonuses article for more details.