Are Casino Bonuses worth it?
Here at iBet Network, we have dedicated a lot of time and space to casino bonuses. As a site dedicated to promoting online casinos and sports betting sites, it is natural that we cover the bonuses that these sites offer. There are many different kinds of casino bonuses out there. However, are casino bonuses always worth it? In this article, I’ll go through the pros and cons of casino bonuses and give my final thoughts.
If you want to learn more about casino bonuses, here are a number of resources we have created:
- The Bonus Breakdown Videos (YouTube)
- Casino Bonuses Videos (YouTube)
- Finding the Best Casino Bonus
- The Best Casino Bonuses in Canada
- The Best Free Spins Bonuses in Canada
The purpose of a casino bonus
You have to understand the purpose of a casino bonus before you can honestly answer the question of whether it is worth it or not.
The first thing to keep in mind is that casino bonuses are essentially marketing tools. The online casino and sports betting industry is highly competitive. There are thousands of online casinos out there that are all competing for your time, attention, and money. The best way to get attention is by throwing large numbers in your face, like a $1500 bonus, 500 free spins, etc. While these numbers are eye-catching, they only tell part of the story.
The second thing to remember is that an online casino or sports betting site is a business. The ultimate goal of any business is to turn a profit. This means that any bonus an online gambling site gives you is not free. All bonus money is just that, bonus money. It is not real cash. If you read through the terms of any bonus you will realize that it takes time to convert bonus money into real money. We created the Bonus Breakdown series with this in mind. Check out the links above.
Should I take a casino bonus?
Once you understand the purpose of a casino bonus and understand that it is not free money, then you can think about whether you want one or not. Ultimately, the choice depends on what you want from online gambling and how much you are willing to deposit. If you want to withdraw any winnings without hassle then you should skip taking the casino bonus. However, there are a few things to keep in mind. There is no guarantee of success. Only a very few people manage to hit it big from a lucky wager. It will also depend on what kind of game you play. The return on online slot games is usually very low. The return on table games is higher if you play with a proper strategy. When it comes to betting everything comes down to the odds, but there are always upsets. Without using bonus money you do not need to worry about wagering requirements.
If your goal is to extend your playing time and you do not need any winnings immediately, then you are more amenable to taking a casino bonus. A bonus increases your bankroll and allows you to play for a longer period of time. However, it also comes with requirements and restrictions on what you can use the bonus on. There are also terms on how to convert it to real money. You start with a larger bank balance, plus most slot games give you additional free spins, meaning you will play longer. This does not mean that you will convert these wins to real cash though.
The most common form of casino bonuses is online slot bonuses. Sports Betting bonuses are also sometimes connected to just certain markets. It is rarer to find casino bonuses for live dealer games, but they are out there. You can check out our live casino bonuses section. Also, different types of casino bonuses work in different ways. For example, a cashback bonus is very different from a match deposit bonus. Check out the resources I provided above to understand the different types of casino bonuses and how they work.
The final thing to keep in mind is that once you take a casino bonus, the bonus amount and your real money merge together. This means you will not be able to withdraw your real money until you complete your bonus wagering requirements. If you opt to withdraw your real money before finishing the wagering requirements you will forfeit the bonus and any potential winnings from the bonus.
Casino Bonus Pros and Cons
After taking all of the above into consideration here is a list of pros and cons when it comes to casino bonuses.
Extend your gameplay time
Increase your bankroll
Allows you to try out games
Different bonuses work in different ways
Have a lot of terms and conditions attached to them
Are not always easy to convert to real money
Locks your real money balance until wagering is complete unless you forfeit the bonus
As with anything else in life, this will come down to personal preference. It is important to understand the purpose of an online casino bonus first before making the decision. It is also important to understand the value of a casino bonus. For example, if you want to just play slot games then the best bonus for you is probably a free spins bonus. If you want to increase your bankroll, then you would be more interested in a deposit match bonus.
Personally, the only casino bonuses I look for are cashback bonuses since I know I will get a certain percentage of my losses back, which I can then use to extend my gameplay time. Most of the time I opt out of casino bonuses since I am too lazy to fulfill most of the bonus requirements. I am not saying that bonuses are bad, but I am just not the type of player that goes looking for them. Depending on what you are looking for and what type of player you are, you can now decide whether you want to take up a casino bonus or not. Good luck and always play responsibly!
Here are some of the most commonly asked questions about whether casino bonuses are worth using or not.