You know how most online casinos give you a bonus just for making a deposit? This is the online equivalent of the comps that brick and mortar casinos give out, and just like at a brick and mortar casino, these have the potential to add to your enjoyment. However, when you are chasing down bonuses, you are putting yourself in a situation where you could lose more money than you will gain, something that you obviously want to avoid as much as possible.
Today, we are going to take a look at bonuses, and how you should or shouldn’t adjust your slots and video poker play in order to achieve them.
How Bonuses Work?
First, be aware of how a bonus will work. The casino will give you a bonus based upon how much your deposit was. If you deposited $500 into your casino account and you earned a 100 percent bonus, then you will now have $1,000 in your account. The catch is that you can only withdraw your $500 when you want to make a withdrawal because the other $500 is locked until you bet a certain amount of money. This amount will vary from casino to casino, but the industry standard sits at around 30 to 40 times the amount of the bonus. So, in this case, to unlock your $500 bonus, you would need to trade a bare minimum of $15,000 before you can keep all of your $500.
This is a huge discrepancy. Yes, bonuses are a great way to supplement your online casino play income, but they should not ever be chased unless you are extremely close to unlocking one. Some bonuses unlock your entire bonus all at once after the stipulations have been satisfied, and others will do it in stages, unlocking a little bit as you bet more and more. Others will keep your bonus money in your account indefinitely while others will have a set time period before the money disappears. Know the rules of the casino that you are playing at so there are no surprises and you can get the money that’s rightfully yours. The bonus is important, it’s just not the most important part of the process.
It should be obvious now why chasing a bonus indiscriminately is a bad idea. $15,000 worth of risk just to get $500 is not a good trade off. With this in mind, you should only pursue a bonus if you have a good strategy and strong money management skills. It is possible to unlock that free cash, but the vast majority of people make poor decisions with their money somewhere along the way and end up losing their money well before they ever have a realistic chance of getting their bonus money sent to their bank account. We urge you to forget about the bonus until you’ve actually earned it. Yes, it is nice to have that extra money in your account, but it should not be the primary focus of your betting. Work on picking the right games, getting the most out of your money, and having fun. If you do this, the bonus situation will work itself out along the way. Think of it as a perk of being smart with your money and making good choices.
Instead of worrying about a bonus, make your deposit, pick a few games you like, then figure out the best way to play them. Never risk more than you are prepared to lose, and always have a set number that you will quit for the day at after you win. Little things like this will help you to get that bonus if you do them with discipline.