Is it Possible to Win Real Money Using Casino Bonuses?
Most online casinos will offer welcome bonuses to new players signing up, and other promotions and bonuses to all players. The bonuses might seem very lucrative at first glance, but depending on the terms and conditions attached, they might not actually be such a good deal.
Here we will look at if it is possible to win real money using casino bonuses, and explain which bonuses are the most favourable.
What are Online Casino Bonuses?
Let’s first look at what online casino bonuses actually are. Put simply, they are incentives given by a casino to reward a player signing up, making a deposit or another action that will benefit the casino. Bonuses come in many forms and sizes, with the most common ones being bonus money and free spins.
While casino bonuses technically are gifts of free money or free spins to use at the casino, it is important to note that there will always be terms and conditions attached. Most commonly this includes a minimum deposit requirement to get the bonus, in addition to a wagering requirement you need to fulfil before you can withdraw any money from the bonus.
Common Casino Bonus Terms (that make it more difficult to win real money)
When you play with free spins or bonus money given by a casino, you have just as big of a chance to win something as when you play with your own money. Any licensed casino has to offer randomised wins and fair gaming, so as long as you play at a licensed casino, you can rest assured that there will be no funny business.
But even though your chances of winning are just the same, terms and conditions can make it harder to win – or cash out – real money from bonuses.
Unless you get a no deposit bonus, you will always have to deposit real money in order to get a casino bonus. Normally you will have to deposit minimum €/£/$ 10 or €/£/$ 20 to get your bonus. This means that even though the bonus gives free money or spins, you first have to use your own money to get it.
Another important term many players don’t know about is the maximum bet and/or winning allowed using a casino bonus. This means that your winning chances are capped at a certain amount, often excluding progressive jackpots and larger wins. You will be able to win real money from your bonus, but maybe not as much as you would first expect.
Finally, if you do happen to win anything using a bonus, you shouldn’t assume that those winnings are yours to cash out right away. Almost every online casino bonus will come with a wagering requirement. This is a number that shows how many times you need to play through your initial deposit, bonus sum and/or winning amount before you can request a withdrawal.
Bonuses that come without any wagering requirements are often called wager-free. In addition to some casinos offering wager-free bonuses, that are also some online casinos that are completely wager-free. This means that none of their bonuses come with wagering requirements.
Wager-free bonuses are the most lucrative as they literally allow you to cash out your winnings as soon as you have won anything. This means that if you, for example, win £1000 from a free spin, you won’t have to wager that money X amount of times (potentially losing it). You can head straight to the cashier and claim what is rightfully yours.
To conclude, it is definitely possible to win real money from casino bonuses. The bonuses give you extra tries to win on slot machines or other games. The play rounds using casino bonuses are just as real (and random) as when you play with your real money. This means that you can be lucky and hit a big win on a game round that was technically paid for by the casino itself.
But don’t forget that terms and conditions can make it harder to cash out any winnings you get from online casino bonuses. Therefore, the most favourable bonus is a wager-free one.