We’re all prone to being bowled over by mouthwateringly generous new-player bonuses, and the headline incentives are designed to get you signed up as soon as possible, ideally before you’ve read the small print. But if you’ve been around the iGaming scene long enough, you’ll know that if a deal sounds too good to be true, that’s almost certainly the case. Squint at the small print, and the thorny problem of an arguably unfair withdrawal clause will probably become apparent.
That’s not to say all bonuses are hamstrung by withdrawal clauses that aren’t pro-player. Instead, it just means online casino fans have to be vigilant when deciding whether to redeem an offer. Here’s an overview of what to look out for.
The Highs and Lows of Wagering Requirements
The majority of casino bonuses have minimum wagering requirements attached, and these determine how much you’re required to bet with the provider before making a withdrawal. What further complicates the withdrawal clause is when the minimum wagering requirement includes the deposit amount in addition to the bonus, rather than only the latter.
Let’s say you add $100 to your account to redeem a 100% deposit matching bonus, and get an additional $100 courtesy of the casino provider. If there’s a 40x wagering requirement that applies to just the bonus, that’s a $4,000 minimum in total bets you’ll have to reach to unlock withdrawal privileges. If the bonus and your deposit are covered by the clause, the minimum wagering requirement doubles to $8,000.
The answer is to always choose an online casino with a good reputation for offering a wide variety of games, backed by player-friendly bonuses. Wagering requirements of under 40x are worth sniffing out, as are no-deposit bonuses.
The Ins and Outs of Game Eligibility
Another important point to keep in mind is that an online casino’s withdrawal clause may well include minimum wagering requirements that only apply to particular games or categories of gambling. In other words, while you might build up enough bets to meet the rules of a sign-up bonus on slots, playing table games or placing sports book wagers might contribute a much lower proportion to the remaining total.
Basically, casinos do this because slots are much more volatile and generate more revenue than games like blackjack and poker, where the house edge is slimmer, and their profits aren’t as juicy. Again, so long as you read the terms and conditions of a bonus deal and understand how the withdrawal clause applies to your own gambling preferences, you can move forward with the right information to hand.
Investigating Cash-Out Caps
Lastly, there’s the common practice of placing a cap on the amount you can cash out once you’ve met the criteria for making a withdrawal. Usually, this means that big wins that result from play during the initial bonus period are limited. Anything you win above a certain amount cannot be redeemed.
All this means that many regular online casino players are better off not using bonuses or incentives and instead just depositing and playing with their own money, so the withdrawal clause isn’t always hanging over them.