The Finances Behind No Wagering Casino Bonuses in 2023

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In the United Kingdom and Europe, online casinos are jumping at the bit to tempt and entice gamblers in with a variety of brilliant bonuses. Unlike the American market, the UK online gambling market is regulated by the government, which means, by and large, UK citizens are free to gamble to their heart’s content in a safe and free environment. With that being said, the competition is fierce. This EuropeanFinancialReview article will take a helpful look at the finances behind online casinos bonuses in the UK. We will begin by taking a look at the terms and conditions of different casino bonuses before we go into detail about what wagering requirements are. Then, we will look at the pros and cons of bonuses before finally looking at the financial impact of online casinos bonuses on both the casinos themselves and players.

There are now hundreds of online casino sites, all of which are competing with one another in order to bring in new customers. One of the main ways in which an online casino is able to advertise itself to new players is via what’s known as a casino welcome bonus. There are plenty of different types of welcome bonuses offered by online casinos. But the essential facts that you need to know are that some casino bonuses are much more valuable than others. 99% of casinos will offer what are known as matched deposit bonuses. These consist of the casino giving the new player the same amount as the deposit. For example, if a new player deposits £100, then the casino will match this and give the player another £100 to play with. However, it is the small print of such bonuses which players need to be aware of.

The Small Print of Online Casino Bonuses

All online casino bonuses have terms and conditions associated with them. The majority of the aforementioned matched deposit bonuses come combined with strict wagering requirements.

What Are Wagering Requirements?

Wagering requirements require the player to wager their casino bonus a certain number of times before any winnings associated with the bonus can be withdrawn into the players bank account. Wagering requirements come anywhere between 20x and 50x. To give you an example, a £100 matched deposit bonus with 30x wagering requirements will mean that the £100 will have to be wagered 30x times. Therefore, the player will need to make £3,000 in bets with the initial £10 before they can withdraw winnings – (100*30= £3,000).

The casinos rely on the fact that the player will lose the matched deposit bonus long before they are able to achieve the required wagering amount.

Online Casino Bonuses with Zero Wagering Requirements

Although 99% of casino bonuses come with wagering requirements attached, there are still a select few online casinos which do offer new players what are known as wager free casino bonuses. These are essentially casino bonuses which come with zero wagering requirements. As we write in January 2023, there are a select few online casinos which are operated by Gamesys which are offering all new players free spins with zero wagering requirements. Remember, this means that anything won using these free spins can be withdrawn into a bank account immediately.

The Advantages of Wager Free Spins

There are a number of major advantages to the player of utilising wager free spins. We have outlined them for you below:

  • The chance to win without having to risk your own money.
  • Allows you to practise and play new slot games without risking your bank balance.
  • Winnings are paid in real money and not bonus money.
  • Some of the top rated casinos offer these bonuses.

The Disadvantages of Wager Free Spins

For the sake of balance, we think it is best to also highlight the disadvantages of wager free spins. Find them below:

  • Sometimes you have to stake £10 of your own money before the wager free spins are available.
  • Spins can be limited to certain casino games.
  • Only available to online slots players.
  • Not a widely available bonus.

Do Online Casinos Lose Money with Bonuses?

The number one reason why online casinos sites put wagering requirements on their bonuses is so that they do not lose money. Matched deposit bonuses, for example, is a gift of free money given by casinos, so if players could withdraw that easily, then the online casinos would not stay in business for too long. However, such bonuses give the possibility to players that they might win money without having to risk any of their own. So, the answer is no, online casinos do not tend to lose money with bonuses due to the terms and conditions surrounding bonuses.

When it comes to bonuses with no wagering requirements, it certainly seems to be the case that the casinos are likely to lose more money with these than they would if they added requirements to their bonuses. However, such bonuses are likely to attract a greater percentage of new players, and these new players may end up playing and spending their money at the casino for months or maybe even years. Therefore, in terms of net profit, they may find it more profitable to offer such bonuses.

From a Financial Perspective, Who Wins?

The hope is that both the online casino and the players/customers win when it comes to no wagering bonuses. The casino wins because they have attracted a new player, and the player wins because they have a real opportunity to win money without having to make huge wagers.

References

Disclaimer: This article contains sponsored marketing content. It is intended for promotional purposes and should not be considered as an endorsement or recommendation by our website. Readers are encouraged to conduct their own research and exercise their own judgment before making any decisions based on the information provided in this article.

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