Downside of Online Gambling: what to know about Online Casino Bonuses and Promotions when choosing which game or casino to play.
Online gambling has been on a crazy run since the inception of the first online casino in the mid-90s’: having multiplied by thousands of times in size, the global online gambling is anticipated to be valued at more than 92.9 billion U.S. dollars in 2023 and is expected to at least triple by the end of the decade.
More and more casinos are sprouting on the web, drawing a record number of visitors due to the ever-emerging tech – live dealer games, VR games, blockchain casinos, you name one – and the unceasing pandemic that forces millions of gamblers to reconsider their preferences in favor of online venues of entertainment.
Gambling becomes more and more tempting as it offers the best of both worlds: not only can you indulge in your favorite games at the comfort of your home, but you can also benefit from the never-ending stream of bonuses, promotions, and perks. Speaking of which, it’s not always as rosy as it seems.
Whether it’s a generous casino online betting game as explained by KasynoHEX or even a social casino, it won’t reveal its true colors until you read to the core of its policy; more often than not, the unpleasing part of the bargain will be fine-printed or hidden away from your eyes.
Knowing the lowdown on bonuses is paramount for newbies, who are usually gullible and willing to grab gambling by the horns just by jumping on it.
Combing Through the Parameters of Your Bonus Offer
Bonuses are the first thing that grabs our attention once we land on a casino website. However, it requires some expertise to separate between the good and the evil – the expertise you’ll get right now. So, the lion’s share of the evaluation lies in the cold-blooded analysis of the parameters of the bonus offer and understanding how those parameters align with each other, as well as if there are obvious weaknesses.
Bonus type.The most popular bonuses are welcome bonuses, deposit bonuses, registration bonuses, no-wagering bonuses, and cashback. Classifying your bonus is not necessary, but it can be of value all the same if you’ve already encountered the same type of bonus in your career.
Bonus size. The bigger the bonus, the better. But then again, size won’t matter if other parameters go awry. Speaking of size, it can be either a flat amount (for example, $100 granted to anyone depositing $50 or more), a percentage of your deposit (for example, 100% of your first deposit of $50 or more), or a mixed reward (for example, $100 granted to anyone depositing $50 or more and $200 granted to anyone depositing $500 or more).
Maximum size. Most casinos limit their bonus offers to a few hundred and sometimes a few thousand dollars, which is quite reasonable, especially if the conditions are loyal to the player.
Wagering requirement. The dark side of most bonuses is a wagering requirement, which is a multiplier of your deposit and/or of your bonus (for example, 20x) showing the amount of money you must wager on the eligible games before you can withdraw your deposit and your winnings. Pay attention to:
o The size of the wagering: for example, 40x is two times harder to complete than 20x.
o What games are eligible and how they contribute: for example, a 50% contribution would count only half the money wagered (that is, to complete the $1,000 wagering, you would have to bet $2,000).
o Does the wagering apply to the deposit as well: you wouldn’t be happy about the need to play through not only your bonus (and possibly bonus winnings), but your deposit as well, would you?
Other limitations. There’s no limit to the imagination of online casinos.
They can come up with unbelievable excuses just to deprive you of your well-deserved winnings. But there’s one trick you should know: all licensed sites are obliged to disclose their bonus policy in detail, which they do on their ‘general terms & conditions’ and ’bonus terms and conditions’ pages. Those pages are a must-read for a conscious gambler.
Examining Your Casino beyond Bonuses
Bonuses are only a drop in the sea of what you have to estimate before choosing this or that casino. Licenses, gaming library, customer support, banking…there are dozens of factors, each of which can be deciding in your particular case.
Is there a chance to research it all on your own? Maybe, but only with immense investments of time and effort. A much easier way would be to use one of the casino aggregators. Composed of professional gamblers, analysts, and writers.
Last but not least, don’t forget that gambling may cause addiction. If you’ve spotted symptoms of gambling addiction in yourself or your loved ones, immediately ask for help at international – GamCare, BeGambleAware, Gamblers Anonymous, etc. – or local problem gambling organizations.