New players at online casinos will find some welcome bonuses incredibly enticing because of their sheer size. Getting a bonus of $1,000, $5,000, or even $10,000 is not unheard of, and it can be easy to get caught up in the excitement. Before joining the casino with the biggest bonus, it’s important to understand why bigger bonuses aren’t always worth it.
Allure of big bonuses
For one, seeing a bonus valued in the thousands makes it seem extremely generous on the casino’s part. It feels like you’re getting plentiful free money to play with. Large bonuses also allow you to minimize your deposits. If you get a $5,000 bonus, for example, you only need to deposit a couple hundred dollars yourself to play with a sizable bankroll.
A big bonus seems to offer more playtime and more chances to win. With thousands in bonus money available, you won’t have to worry about busting your bankroll quickly. You spread your gameplay over many gaming sessions, try out different games, bet bigger, and have a better shot at lining your pockets with winnings. The idea behind a supersized bonus is at least that.
So what’s the catch? Well, as seasoned casino players know, the most lucrative bonuses come with heftier restrictions. You can’t cash out bonus winnings at online casinos because their terms are designed to make it difficult.
Higher wagering requirements
The biggest catch is that bigger bonuses come with higher wagering requirements. It means you must bet the bonus amount many times before withdrawing any winnings. It can take up to 25 times to wager a $1,000 bonus, while it might take up to 40 times to wager a $5,000 bonus. You’d have to wager $200,000 before you’d be eligible to cash out that $5,000 bonus!
Longer time limits
Large bonuses also come with longer expiry periods. While a $500 bonus might expire after only a week, a $5,000 bonus could have a 60 or 90-day time limit. It gives the casino time to recoup bonus funds through your play. If you don’t complete the wagering in time, your casino bonus and any winnings are forfeited.
Restricted games
High-stakes bonuses often exclude table games like blackjack and roulette from contributing to the wagering requirements. It is because the house edge is lower in these games. You have to fulfill the requirements by playing slots only, which have a higher house advantage.
Max bet restrictions
Large bonuses often include a maximum bet rule, like $5 per spin. It prevents using the bonus funds on a few risky, high-stake bets. So even with a big bonus, you still have to grind out small bets.