Casinos don’t only provide entertainment and excitement, they also offer players some incentives as well. One of those ways is through bonuses. These types of rewards often come with certain requirements such as wagering a certain amount, depositing money, using specific software, etc. The good thing about these bonuses is that you can generally withdraw them whenever you want.
Deposit Requirements
For bonus cash to be credited to your casino account, the minimum deposit you must make is $20. Depending on which site you are playing at, there may be additional requirements like making an initial deposit first before receiving the bonus funds. Also, you need to use real money (cash) to qualify for most new accounts because otherwise, they would not be able to verify your identity.
Payment Options and Withdrawal Times
Once the payment options have been verified by the casino, then the remaining requirements must be met and cleared. Most online casinos allow transfers from an online bank account or debit card so long as they’re using their banking system. For credit cards, there are usually third-party companies that will process payments but you will need to check this out yourself. In general, the payouts are done within 1-7 days depending on what type of withdrawal method was used.
So, if you deposited $50 last week and made a withdrawal using a check, then you should expect the payout within 7 business days. If you deposited $500 through a prepaid Visa card last month, it might take up to 30 days for all of the money to clear. Finally, when using eWallet services such as Skrill or Neteller, it could take anywhere from 24 hours to 2 weeks depending on the company processing the withdrawals.
Wagering Requirements
In addition to meeting the deposits and any other requirements, you must meet wagering requirements before withdrawing anything off your bonus. Most online casinos require at least 40 times the value of the bonus. This means that if you deposited $100, then you would need to wager $400 ($100 x 40) before you would be allowed to withdraw any of the money.
This sounds simple enough and easy to accomplish, but it isn’t always the case. Some websites have high fees associated with taking advantage of bonuses. You can end up paying more than the actual bonus itself just for processing it. For example, most online casinos charge their customers an exchange fee of around 4%-$5%. After subtracting that from the actual amount of a bonus, you will probably still end up losing money.
Minimum Bet Amount Requirements
The minimum bet you need to place before getting paid back is another common requirement among many sites. To be eligible for a free no deposit bonus, you will usually need to play for a couple of minutes at a time. Of course, some websites don’t even require bets at all! Others will have minimum betting amounts ranging from 0.05¢ to 50¢. Some even go as high as $1 on special occasions! Remember that the lower the bet amount, the higher the house edge; therefore, you will need to keep track of how much you lose each spin to ensure you aren’t wasting your time.
Game Selection Requirements
Many online casinos have specific game selection requirements. They typically want a mix between slots, table games and video poker. Since these types of games are played differently based on skill rather than luck, you can increase your chances of winning by choosing games suitable to your level of expertise. Therefore, before claiming a bonus on a website, make sure that you examine the requirements to determine whether they suit your needs or preferences.
Deposit & Withdrawal Options Requirements
Like wagering requirements, deposit and withdrawal methods vary greatly in different countries because laws and regulations differ from one country to the next. When it comes to depositing funds into your online casino accounts, there are two main ways: credit/debit card (via ATM or debit card), and also wire transfer. When using credit or debit cards, transactions may sometimes take longer than usual since the banks usually verify identities. When making large withdrawals, banks will generally ask for ID proof.
It is highly recommended that players use a secured form of internet banking which ensures that their online casino deposits are safe and secure. The best way to do this is to sign up for a bank account that allows you to access your account information directly through their site. This not only makes everything safer but also saves you money when compared to any third-party payment processors that may charge extra fees. If you are concerned about security issues, read our article on what to look out for when gambling online.
In conclusion, these are the top bonus requirements.