Understanding Cash Bonuses and Their Turnover Requirements
Welcome bonuses and loyalty rewards of free money are the likeliest attractions that draw recreational gamblers to online casinos and sign up as new members. While such offers are hard to resist as they instantly suggest bankroll increments, newbie gamblers should know that bonus money in whatever form always comes with turnover requirements.
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Moreover, such bonuses cannot stay in one’s account for as long as online casino customers want, especially if they’re into casino slots as a casual recreation. Seasoned gamblers availing of bonus credits always make it a point to check the length of time by which bonus credits are usable as wagers. Mainly because in order for those bonus credits to yield real money winnings, the turnover requirement must be satisfied within the specific period.
Still, signing up as a new online casino customer does not automatically qualify an account for a Welcome Bonus. If you’re registering in a responsible gaming site, you must first sign-up for the bonus offer to indicate that you have read the terms and conditions, including the mechanics and the duration of the turnover requirement.
What is a Turnover Requirement?
A turnover requirement is the number of times that an online casino bonus-recipient has to wager real money that is equivalent to the initial deposit plus the bonus money. Otherwise, whatever real cash winnings gained from using the free money as wagers, are not withdrawable until after the turnover requirement is met. Since there is a specific period in which cash bonuses are usable, a new customer who signed up for the Welcome Bonus must comply with the turnover wagers within the specificied period of time.
Illustrating Turnover Requirement By Way of Example
Supposing you signed up for a 100% Welcome Bonus on a $20 initial deposit, this means you’ll have a total of $40 as bankroll. During your slot playing engagement, and while using the $40 as wagers, you won $100, which is great. However, you cannot withdraw whatever amount you plan to take out from your account, because you still have to comply with the turnover requirement of the Welcome Bonus.
Let’s say the turnover requirement is 5x the total amount of money in your playing account when you signed up, it means you have to play additionally and place wagers totalling $200, which is the equivalent of 5 x $40. If you rake in more winnings that increase the $100 you initially won, well and good;.because that means there will still be real money left to withdraw as real cash.
This also means that in order to meet the $200 betting requirement, you need to place an additional $60 (initial bankroll: $40 + $100 winnings + $60 additional deposit.= $200).
Now if after your prolonged play with the $200 wagering requirement you already have $80 in winnings, think well before placing another bet in the hope that you can still increase your winnings. The $80 is already withdrawable and at that amount you have already reached the break-even point. You didn’t win but you didn’t lose either. Now if you’ll decide to place another $20 in your playing account, your break even point will increase at $100.
Keep in mind that slots are purely games of chance with which there is no guarantee of winning.
Asian Online Casinos Pioneered the Free Money Promo as Loyalty Rewards
Cash bonuses and their related turnover requirements are said to have originated in Southeast Asian Casinos, but offered as loyalty rewards for high rollers who typically place large amounts of wagers every time they visit a casino. As a token of appreciation, the Asian casino operator will gift a high roller with non-negotiable chips to use as additional bankroll. Similarly, to allow a high roller to cash out all his casino chips, he must have wagered his non-negotiable casino chips and his initial deposit for at least 7x or more. .
In Indonesia, there are casino situs judi online with offers of cash bonus not only for new customers. A cash bonus stated as 1.5 means that you will receive a 100% equivalent as bonus money in your account. The .0.5 difference though is the percentage of guaranteed cash reward you will receive after satisfying the turnover requirement of the cash bonus.
