How to make money from online casino bonuses

Nowadays, every casino website offers multiple bonuses to choose from, and players love them. However, bonuses differ, and while some of them may genuinely be great, others impose requirements that are difficult to meet. How do you separate one from another and make money off online casino bonuses?

Today, we collaborated with Michael Slot, the founder of Slot.day: an authoritative source for the latest trends in online gambling, to provide you with all the information you need to benefit from your bonuses.

Understand the types of casino bonuses

A novice player will immediately get overwhelmed by the number of possible bonus types. With so many options to discover, it is easy to get lost, and the amount of work required to analyze all of them is daunting, which is why so many players choose to not bother at all and only learn surface-level stuff. This, however, will lead to multiple issues later — misunderstanding the way bonuses work can even result in a casino voiding your winnings.

So, first of all, make sure to do your research. Let’s start with the basics:

• Welcome bonuses are generally a one-time offer for gamblers who sign up for a casino website. These usually include extra money or spins for players after they make their first deposit.
• No deposit bonuses allow players to enjoy several rounds of games without having to deposit any money. However, in order to withdraw your winnings, you will still need to invest a certain minimum sum.
• Free spins are among the most popular types of bonuses and can be provided either with or without a deposit.
• Reload bonuses offer extra funds added when you deposit money — for instance, turning your $10 deposit into $20 of in-game currency.
• Loyalty programs are bonuses targeting regular players, providing them with certain rewards for their long-term commitment to the casino games.

While it does seem simple, each bonus comes with multiple terms attached to it to ensure that the players don’t profit too much from them — or, sometimes, don’t profit at all.

Think of bonuses not as “free stuff”, but rather a certain type of agreement with the casino. This agreement imposes certain limitations on you, and if you make certain mistakes, it will be nullified. Bonuses are advertised as lucrative gifts, but in reality, they bear way more similarity with contracts, so keep that in mind at all times.

Learn the Terms and Conditions

Speaking of that, what do these “contracts” usually include? Michael Slot explains some of the most common bonus terms and conditions that you need to be aware of:

Wagering requirements establish how much money you have to wager in a game before you are allowed to withdraw your winnings. For instance, if you get a 100$ bonus with a 30x wagering requirement, then you will have to wager a total of $3,000 to access your winnings. Needless to say, this is a sufficient sum, so make sure to check the conditions before activating the bonus.

Game restrictions are rather simple to understand — certain bonuses only work fully toward certain types of games, and if you choose to play a different one, your progress will be handicapped or even put to a halt.

For instance, if you need to wager a total of $1,000 in slot machine games, wagering towards live poker might not count at all, or only count somewhere around 20%. Casinos often use bonuses to incentivize clients to play specific games, and these games are usually games of chance with no way to benefit from your skills, ensuring that the establishment will get stable revenue.

Time limits specify how much time you have before the bonus is voided. For instance, if you get a $100 bonus with a 20x wagering requirement, remember that you will have to wager $2,000 before it expires if you expect to access your winnings.

Time limits serve several purposes. First of all, they simplify the casino’s work — now the owners don’t have to track thousands of unique bonuses all at once. Secondly, they incentivize players to play more, and sometimes strict time limits also ensure that gamblers make worse financial decisions because of the pressure.

Maximum cashout is a limit imposed on your potential winnings. For instance, if the bonus specifies that you are allowed to withdraw $500, then even if you score a jackpot, you will only be allowed to withdraw $500 maximum. As you can imagine, although rare, this can be quite devastating, so make sure to read the fine print before you sign up for any bonus deal.

Choose reputable and licensed casinos

When you get familiar with all the nuances of casino bonuses, you can finally consider choosing a casino website you trust to provide you with high-quality services. However, with thousands of options available, how do you even evaluate them?

In general, avoiding scammy or shady platforms in the casino industry is pretty straightforward, but you need to remember to stay alert and not let your guard down. The first and most important thing for you to do is to check the casino’s license. Don’t stop at simply checking the casino website itself — check the public register to see if it is truly legitimate. After that, check the casino reviews on third-party websites — the more, the better. While it isn’t uncommon for casinos to buy reviews, the more you search, the better you will be informed.

Finally, when you are sure that the casino of your choosing is legitimate, read its Terms and Conditions to ensure that you fully understand the way it operates and avoid any potential issues in the future. If you have any additional questions, feel free to contact customer support.

Maximize your chances of winning

Now that you have finally signed up for a casino, it is time to try to benefit from their bonuses. Many times, casinos will incentivize you to play slots, meaning that there isn’t much to strategize in terms of gameplay. However, you are still free to choose your betting strategy and A lot of the time, you are also able to pick a slot game you prefer — you can even try free demo slots UK options to get familiar with them beforehand.

The most efficient way to maximize your potential winnings is to pick games with high RTP and low volatility. The former ensures that you will get a larger sum of money in return for playing the game in general, while the latter provides you with significantly more stable and reliable results.

Remember to only play games that contribute 100% to wagering requirements. If you choose to pick a bonus, you should try to follow its terms fully — otherwise, your winnings are at risk. Track your progress and stop as soon as you find that the gameplay isn’t profitable anymore.

Keep an eye on promotions and VIP offers

If you enjoy your time in the casino and plan to stick with the website for a while, you might start getting loyalty points and VIP offers. These can either be great or completely useless, and every casino is unique in that regard, so make sure to evaluate the offers and decide whether they are worth your time.

However, it is important to remember that these types of bonuses are also available to you, and you shouldn’t pass on good opportunities if you intend to keep playing. Cashback, reloads, and other gifts that the casino provides can be quite helpful in the long run. However, avoid chasing losses with bonuses and stop as soon as it isn’t fun or profitable.

Avoid common mistakes

As Michael Slot explains, a lot of players repeat the same types of mistakes, enabling casinos to void their winnings — sometimes it might even feel that multiple conditions you have to meet are specifically designed to make sure you misstep at a certain point. True or not, you must be very careful when using bonuses if you expect to profit from them.

Ignoring bonus terms, using multiple accounts, or breaking the rules in other ways will guarantee that you won’t get anything. At the same time, you can make other types of mistakes even without violating the rules — playing high-volatility games and chasing losses are going to result in you losing money and having a bad time, so you should stay responsible at all times.

Cash out the profits

Now that you’ve met wagering and other types of requirements, you can verify your identity and request withdrawal. Remember that although lots of casinos operate globally, not all of them will provide transfer options that are convenient for you.

Processing times may differ depending on your preferred way of getting money, and there might be several fees and withdrawal restrictions you will encounter along the way. Some of these issues might be fairly minor, while others will be actively detrimental, so make sure to check it all beforehand.