All casino bonuses come with a list of Terms and Conditions. These Ts & Cs cover all aspects of the bonus and how it can be used, and the main terms to consider are:
- The Amount
- The Limits
- Redeemable vs Non-Redeemable
- Wagering Requirements
Bonus Amount
If the bonus is structured as follows:
Then the “$100” would be the amount. This is clearly the aspect of a bonus that players are drawn to the most, and it’s one of the most important features. However, while bigger is often better, sometimes it doesn’t make any difference.
In the above example, a player who typically deposits $100 can get the maximum payout, while someone who deposits more may go looking for a bigger bonus. But what about players who usually deposit $10 or $20? In such cases, it makes no difference if the cap is $20 or $100, as they get the same amount either way.
Bonus Limits
Some bonuses limit you to playing specific games, some require a minimum deposit and others prevent you from winning above a certain amount.
If we refer back to the example outlined above, the casino may insist that you only spend the money on pokies, that you can’t win more than $200, and that you can’t bet more than $1 per spin. That’s a lot of restrictions, but such restrictions are common and can make a seemingly great bonus look pretty poor.
At Slots Heaven NZ, we pride ourselves on having some of the most accessible bonus terms to ensure there are no nasty surprises or anti-climactic activations.
Redeemable vs Non-Redeemable
Most casino bonuses are redeemable, which means you keep both the bonus cash and the winnings. If you’re given $100, win a further $100, and have $50 left when you clear the wagering requirements, a redeemable bonus means you keep all of the money.
Conversely, if you have a non-redeemable bonus, you will only retain the profits, and because you have less than you were given initially, you may lose the bonus entirely.
Thankfully, redeemable bonuses are much more common. When non-redeemable bonuses are used, it’s often for free spins and Golden Chips, whereby the value of the free games cannot be transferred or cashed.
Wagering Requirements
A wagering requirement is also known as a playthrough rate and it often looks something like this, “Bonus must be wagered 50x”.
This means that you need to wager all of your bonus 50 times before it becomes withdrawable. That sounds like a lot, but it applies only to the amount wagered, and not the losses. For instance, if you take 100 $1 slot spins, you have reduced your wagering requirements by $100, but in that time, you may have lost $50 or won $500!
When checking these terms, it’s important to note whether the wagering requirements apply to the bonus, the deposit, or both.
For example, a wagering requirement of 30x may seem much lower than 50x, but if the former applies only to the bonus and the latter applies to both, it will look something like this:
- $100 Deposit and $100 Bonus: 30x for deposit and bonus = $6,000
- $100 Deposit and $100 Bonus: 50x for bonus only = $5,000
The time limit is also important. It dictates how quickly the requirements need to be met before the money is lost. Typically ranging from 7 days to 30 days, if the money is not cleared in this time, the bonus and any accumulated bonus funds will expire.