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Some online casinos offer bonuses that seem too good
to be true. They usually are. Some online casinos
offer 200% and even 300% welcome bonuses to their
players. The wagering requirements are also low. The
bonus offers seem very attractive until you read
something like this in the Promotion T&C's: "Play
bonus credits are for wagering purposes only. No
withdrawal will be honoured for an amount less than
the play bonus. Upon your first withdrawal, any
amount up to the equivalent value of the play bonus
will be deducted from your play balance or winnings
prior to settlement." What this means is that the
bonus "sticks" to the player until it is lost.
Sticky bonuses (or play bonuses as they are also
called) can be used to play, but
can never be cashed out. You can cash out winnings
generated from sticky bonuses but the bonus amount
will always be deducted when you cash-out. This
means that this kind of bonus is practically
useless. An example will show you why:
You join a casino, deposit $100 and receive a $200
sticky bonus. You now have $300 on your casino
account. The wagering requirements are low, let's
say 6 x (deposit + bonus) = 1800. You fulfil you
wagering requirements by playing on a variety of
games with an average house edge of 2% (98% payout).
If you played optimal you should on average have won
(1800*0.98) = $1764. You will on average have lost
(1800-1764) = $36. This leaves (300-36) = $264 on
your account. The problem is that the $200 bonus
will be deducted upon your first withdrawal so if
you would want to cash out at this point, you can
only cash out (264-200) = $64. So much for a bonus.
You are no better off than if you had not received a
bonus at all and just played with your initial
$100...
Stay away from sticky bonuses and casinos that offer
them. They are a pitfall. Do not get blinded by what
seems to be a fantastic bonus offer. Play at online
casinos that offer real bonus money like the ones on
the
Recommended Casinos
list instead. There are no catches to the bonus
offers at these casinos.
There are wagering requirements, but no catches...
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