Wagering Level Based Casino BonusesBy: Rick Balding, Saturday May 22nd 2010
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Bonuses are usually offered by online casinos along with a commitment to wager a certain amount. This mostly takes the form of the deposit bonus. The player makes a deposit, gets a corresponding bonus and has to wager the deposit and bonus a specified number of times before cashing out the winnings from the bonus. Some online casinos employ another method of ensuring that players wager specified amounts before bonuses are given.
This method is usually formulated as a promotion and is offered with subtle variations from time to time. Players have to wager a specified amount on specified games within a specified time period and if they do so then they are guaranteed to receive the stated bonus amount. This is more favorable for the player than the wagering competition kind of promotions. In such competitions there is no upper limit to the wagering and no matter how much the players wager they are not guaranteed a prize.
Yet these promotions need to be entered into with a great deal of caution. Suppose a player has fixed his normal wagering level for a week at $1,000. If the promotion offers a bonus of $100 for wagering $2,000 in a week, responsible players should look at it as paying $1,000 to get $100. This is an absurd proposal. Players should look for a promotion that stipulates a level of wagering that fits in with their planned bankroll. The player who plans to wager $1,000 a week should look for a promotion that requires him to wager around $1,000 a week and be satisfied with the bonus offered.
Another aspect that the player needs to be careful about is the choice of games offered. Usually such promotions specify that the wagering be done on a given selection of online slot games. Slot games offer an average return to the player of around 95%. If the player prefers to wager on games like blackjack and video poker, which offer a return of 99% on best play, they will lose a bit on wagering on slots and will have to factor that in as well. However if the players are wagering on slots in the normal course it should not bother them too much to wager on the selection offered by the casino instead of their favorite games.
Most online casinos realize that though players may wager slightly more than their planned levels they will definitely wager much larger amounts just to get the bonuses. Therefore they formulate the promotion in such a way as to offer something to every player. There are several tiers of wagering levels. The levels with lower wagering offer smaller bonuses and the levels with larger wagering offer larger bonuses. Therefore players can choose the level appropriate for them.
Virgin Casino regularly offers promotions of this type. The Reel Frenzy promotion is one that is repeated often. In a recent offer the wagering levels and bonuses were specified as follows. If players wagered £175 in a given day they would receive a bonus of £5 in the lowest tier. In the highest tier if players wagered £3,500 in a given day they would receive a bonus of £100.
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