Posted by admin on February 17th, 2008 in Gambling House
Introduction
With so many online casino guide (sites) available on the internet, and with competition so fierce in the gambling industry, it is only natural that these sites will do all that they can to get new players to try out their games and software. Online casinos cannot hand out comps in the form of free accommodation and meals as traditional casinos can, but they can certainly reward newcomers in the form of free money into their accounts.
The most generous form of bonus available through online casinos is undoubtedly the welcome (or sign up) bonus. These are particularly attractive and, if players know how to use them to their advantage, extremely profitable in the long run. Sign up bonuses are usually given to players who deposit a minimum amount of money into their newly opened accounts (usually starting at $50-$100). These bonuses guarantee to match the amount by a certain percentage, so that - for example - a $100 minimum deposit with a 100% welcome bonus will give you a $200 initial bankroll at the online casino.
All sign up bonuses come with certain restrictions and many of them require that players wager a certain amount of money before they can withdraw the casino bonus. This is called a wager requirement (WR). In most cases, the player will need to wager at least 10 times the amount of the initial deposit plus the bonus. It is important to note that all bets at the online casino - whether you win or lose - count towards the wager requirement.
How to Make the Most of your Sign up Bonuses
1. Payment Options
Choose a good, easy deposit system to transfer your money into your online casino account and to withdraw your winnings. Your choice should be based on what works for you as a gambler and could include anything from credit card, prepaid Visa and electronic banking services. Remember, too, that many of these options offer you extra bonuses as an incentive to use their services. Check your online casino to see whether you qualify for these additional bonuses.
2. Shop Around for Good Bonuses
It is definitely a buyer's market out there, when it comes to choosing online casinos. Look out for casinos that offer great welcome bonuses with excellent terms so that you can benefit to the maximum. Find online casinos whose bonuses offer low wager requirements, offer high percentages and also allow certain games to qualify in the bonus offers.
3. Low House Advantage Games
Many online casinos exclude certain games from their bonus offers simply because these games have low house advantages and the casinos run the risk of losing out in the long run. Games such as roulette, baccarat and craps are usually among the low risk games that are excluded. Players should shop around for sites that offer games such as blackjack (which is also sometimes excluded), which have low risk and can thus increase the value of the bonus.
4. Terms and Conditions
It is very important to read the terms and conditions of all bonuses and special offers before you sign up for them. Some online casinos change their information almost daily and it is imperative that you make sure that the conditions apply on the day that you register. Read the small print and make sure that you understand everything that is written. If in doubt, contact the customer service department of the online casino for clarification. Look out for things such as the wager requirements, maximum bonuses, excluded games, the exact percentage of the bonus being offered and whether the bonuses are cashable or sticky.
5. Learn your Bonuses
Make sure that you know how to differentiate between cashable, sticky type I and sticky type II bonuses. If not, you might find yourself unable to benefit from a particular bonus even though you have completed all the wagering requirements.
6. Beware of Blacklisted Casinos
Make sure that your money is invested safely in online casinos that are trustworthy and reputable. Look out for blacklisted casinos that have a bad name in paying out bonuses - you will want to avoid theses sites at all costs.
7. Ensure that you Meet all Wagering Requirements
While we have stated before that it is imperative that you are aware of the wagering requirements before you begin playing with a bonus, it is just as important to check that you have met all of these requirements before you withdraw your money from your account. Unfortunately, in extreme cases, there are online casinos that will only allow you to withdraw your initial deposit (minus the bonus and any winnings) if you request to remove the money before you have met the wagering requirements. It is important to keep track of your playing to ensure that you are not requesting an early withdrawal. This can be done in a number of ways, including a simple Excel spreadsheet that will show you where you have gambled, how much you have spent and how much you have won. (This is also good for tax purposes).
8. Keep Documentation Handy
When you are ready to cash out your bonus (and you have ensured that you meet the wager requirements), you might be asked to provide proof of identity. It is a good idea to have this information handy by scanning utility bills, driver's licenses, the front and back of your credit card, etc. onto your computer to have ready when and if you are asked to provide it by the online casino.
A Good Gambling Sign-Up Bonus Strategy
Players can easily make around $35-$40 an hour by playing blackjack at online casinos using generous welcome bonuses. This is a good way to start out with a small bankroll (approximately $100) and build it up with a great game. Blackjack is a game with a very low house advantage (0.5%) and players are therefore able to make a nice profit in the long run.
1. Look out for online casinos that offer non-sticky bonuses (ie. when you are allowed you to cash out your bonus, winnings and initial deposit after you have reached the wager requirement).
2. Start off with a $100 bankroll and a good knowledge of the game of blackjack. Print out blackjack strategies and learn how to apply them.
3. Find online casinos that offer $100 in bonus money on your initial deposit of $100. You now have $200 to play blackjack.
4. Assuming that the wagering requirement is eight times the deposit and bonus, you will need to bet $1600 before you are able to cash out.
5. Bet the minimum wager of $1 (and not more) until you reach the sum of $1600.
6. When you look at the overall picture, your chances of coming out with a profit are almost guaranteed and this is your safest route. This strategy allows you go from casino to casino and build up your bankroll safely.
7. Wait a day before requesting to cash out your money because some online casino systems require 24 hours to catch up.
8. Now seek out casinos with $200 deposit requirements with a 100% match bonus.
9. In most cases you will need to wager approximately 20 times the bonus amount (ie. $4000).
10. You should use the same strategy as above and wager the minimum amount until you meet the wagering requirement.
11. Look out for sites that offer fast software to make the most of your time.
12. The bottom line with this strategy is that with an initial deposit of $100, you could be able to bring in $1500-$2500 profit in the long run. The added advantage is that you have, by now, established accounts with several good online casinos and you can always go back and enjoy great monthly bonuses through them.
13. Betting the minimum amount should mean that you make money; although betting more increases the risk but also the chance to make more money.
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