It may seem crazy to turn down free money, but the truth is there are legitimate reasons why you might want to refuse or opt out of a welcome or first deposit bonus at an online casino. As with everything, the devil is in the details. All casino bonuses are subject to wagering requirements. The numbers vary from casino to casino but the requirement is always there. If these terms and conditions extend to money deposited as well as the bonus, I would recommend declining the deal. If you make a deposit of ?100 and make a nice profit straight away, you do not want to be tied down by restrictions when it comes to withdrawing your winnings.
There’s no such thing as a free lunch, as they say. Online casinos use bonuses and free spins to entice new players to their sites. Freebies also serve to keep existing customers playing, trying new games and services and enjoying the product. However, a competitive market is always good for the consumer. The more online casinos compete for players, the more generous the bonuses become – with the race to the top becoming even more $5 deposit online casino competitive as new online casinos crop up on the scene. Bonus funds give players more cash to play with, more chance of making a profit and more risk-free game time. If the wagering requirements are fair, both player and operator can benefit from a bonus deal. It’s win-win. Overly strict requirements will turn players off, whilst very lenient requirements lead to players making too much risk-free profit. The best casinos get the balance right. If you’re interested in receiving a bonus without depositing any money whatsoever, look at my no-deposit bonus page.
Wagering Requirements Explained
Wagering requirements are everything in this game. You will want to check the wagering requirements on any bonus before accepting it. The details can be found in the terms and conditions. Let’s look at an example to demonstrate how a typical wager requirement works. Imagine you earn a bonus of ?100, and after checking the small print you see that it’s subject to a 35-time wagering requirement. This means you must stake a total of ?3,500 in real money to qualify for a cash-out. The requirement would usually apply to the original bonus of ?100, and all winnings acquired from wagering it. It sounds like a lot, but the house edge can be a little as 1% in games that contribute. What’s important here is not to think in terms of cashing out the whole bonus, but about minimizing losses. If you can get through the requirements with a 2-3% loss, that’s a nice profit from a free bonus.
The other thing to remember when looking at wagering requirements is the weight of contribution each game carries. Not all casino games are equal when it comes to wagering requirements. Slots almost always count 100% towards the conditions, but games with a small house edge such as roulette and blackjack will typically contribute a much lower percentage. For some bonuses, even-money bets like black or red on a roulette table, will be excluded completely. These rules are in place to protect the casinos from players exploiting the bonus system. If you’re looking to only play one type of casino game – maybe you are a blackjack specialist – check the weight of your chosen game before you accept a bonus. It e is excluded.
How to Decline a Bonus Offer
If you have decided not to receive any bonus funds and would like to decline an offer there are several ways you can do it. The simplest is to use the opt out button when signing up or making a deposit. Many online casinos now make this a quick and painless transaction. You may also receive a conformation email asking you to confirm a bonus. In this case, simply don’t click the link to decline the bonus offer.