If you are thinking of signing up with an online casino, the online match bonus can be a great boost to your bankroll, and an excellent way to start your gambling experience. However, this is not always the case. Every bonus comes with strict wagering requirements that can be difficult to fulfil. In such cases, the ‘reward’ can actually be a hinderance, causing you to bet more than you want, lose money and possibly ruin the entire experience. To make sure this doesn’t happen to you, we’ve weighed up the pros and cons of this type of incentive offer.
It is not hard to imagine why a welcome bonus would be advantageous, after all, you are essentially getting free cash just for signing up. The best online casino match bonus offers up to 200% match on your initial deposit with reasonable restrictions that are easy to complete. Some sites offer up to a 250%, but the majority stick to around 100% with a set cash limit. This means that the casino will equal your first deposit, dollar for dollar up to a set limit, which is usually around $500. For example, if you deposited $300 into your account, the site will equal this amount, giving you a full $600 to play with straight away.
Some online casino match bonuses also come with free spins. This is not always the case, but some sites offer a 100% online match bonus as well as 50 or 100 free spins to use on the latest slots games. In this example, your account funds are doubled, and you can log on and play all your free spins on the selected games for real money without spending your own. You are essentially doubling your chances of grabbing a big win. The free spins do come with wagering restrictions, but they are not as strict as the regular welcome offer. The slots are also usually the most popular and ones you would want to play anyway.
All match bonuses online come with wagering restrictions no matter how big or small the reward. This is the biggest disadvantage of taking a welcome bonus or free spins. Most restrictions apply to your incentive amount and require you to wager a certain amount of your own real money before you can cash out any winnings from your account. These are commonly referred to as playthrough requirements and come in the form of a multiplication number such as 20x or 30x.
What this means is that you have to wager 20x your total rewarded amount to clear your requirements. For example, if you are awarded $200, you must wager 20x $200 or $4000 in real money before you are free to cash out your winnings.
Some online casino match bonuses apply restrictions to both the deposit amount and the reward amount. This makes it even more difficult to complete your requirements. If you didn’t read the terms and conditions, you may find yourself in a situation where you have to wager 20x the deposit amount ($200) and 20x the awarded amount ($200), which amounts to $8 000 in real money bets. You also have a time limit on when this must be done.
The time limit also varies, but it is usually around 1 to 2 weeks. If you have not completed all your requirements, you lose your full reward amount and any winnings you may have incurred using your free funds or free spins. You have just wasted your time, your money and come out the other side feeling frustrated. But now you know how to avoid this, and use any online match bonus rewards you come across to their full potential!