Online casino bonuses are one certainly one of the biggest perks of playing on the Internet. All top-rated Canadian sites offer promotional deals that can greatly improve your chances of landing a big win.
The Welcome Bonus is usually the most lucrative and the most popular. These rewards are generally offered as a cash match on your first deposit, up to a certain cash limit. You may have seen a banner advertising 100% cash match up to CA$500, but what you don’t see are the wagering requirements that come with every offer. In order to really ensure that you get value for money, you need to know more about the terms and conditions of any incentive.
All bonuses, no matter how big or small come with wagering requirements, also known as rollover or playthrough requirements. As a general rule of thumb, the larger the reward, the higher and stricter these conditions are. A common mistake many players make is to sign up with a site offering a massive 200% match up to CA$800. What they don’t realise is the requirements are so high that they will end up spending far more than they get.
Online casino bonus wagering is a tricky business and should always be analysed before you accept any free spins, cash match or other promotional offer. Wagering requirements are usually displayed as a number with multiplication sign such as 5x, 15x or 20x. This relates directly to the amount of free money awarded, and is the multiple of which you must wager in real money bets before you can cash out any winnings.
For example, if you deposited CA$150 on a 100% cash match, you’ll be awarded an extra CA$150. Your account will reflect CA$300, which may seem great at the time, but first you have to meet the playthrough requirements. If these are set at 20x, then you would have to wager 15x CA$150 - or CA$2,250 - in real money bets before you can cash out. If the amount was up at CA$200, then your betting amount goes up to CA$3,000.
All online casino bonuses are different and should be evaluated on an individual basis. For example, if a site is offering a CA$100% match up to CA$300 with 7x wagering, you might only get CA$300 “free” for your CA$300 deposit, but you only have to put down CA$2100 in bets to meet the terms and conditions. Another site might offer 200% up to CA$400 with 12x wagering. Assuming you go for the maximum amount, you may only have to deposit CA$100, but you’ll have to bet up to CA$4,800 before you can cash out, which is a big difference.
Most of the time, an online casino welcome offer bonus in Canada will only have restrictions on the incentive amount. However, this is not always the case. Some sites apply the restrictions to both the deposit amount and the incentive amount. In such cases, it is best not to take the reward at all or sign up with a different casino.
If the site is advertising a 100% cash match up to CA$250, your reward amount is CA$250 and your deposit amount is CA$250. If the wagering requirements are set at 8x, this means you have to clear both amounts before you can make a withdrawal. This means CA$500x 8 or CA$4,000 in real money bets.
Understanding online casino bonus wagering is key if you want to get the best deal for your money. In order to do this, take the time to read the terms and conditions. In some cases, you can only use your free money on slots, and not on table games where the house edge is quite low and there is chance to use skill and strategy to come out on top. Keep all this in mind before you accept supposedly huge cash amounts offered to you.
Thankfully, there are several top rated sites that offer online casino bonuses that are extremely lucrative, but not every site is the same, so do your homework before you sign up!