The online casinos fight each other in a hard competition to get you to sign up and play in their casino. The sign up bonus is the panacea to attract new players. All players love a good bonus but it is not always wise to accept a (sign up) bonus! Why do online casinos give out thousands of dollars in free cash?
The majority of online casinos offer a bonus for first time depositors. Bonuses usually come with complicated T&C’s attached and these often give the player very little chance of cashing out. A wagering requirement is a multiplier that states the amount you must bet before your bonus can be released as cash. With many online casino bonuses, you are unable to withdraw the bonus itself. This means that you will only be able to withdraw it once you have met the wagering requirement (shortly WR). The requirements are always the same: you have to wager a certain amount of money before withdrawing. Typical requirements force you to wager between 15-50x the sum of your deposit PLUS bonus amount before withdrawing. Of course, the lower the WR of casinos, the better it is for the player. Some fantastic casino bonuses come with no wagering requirement! On the other hand: there are casinos that, due to the WR, make it almost impossible to cash out a (sign up) bonus. We know players who, for that reason, never accept a bonus! What to do? Check the casino website Promotions pages for the T&C’s before you start playing.
It is also of crucial importance to look for casino bonuses that don’t come with a maximum cash out. A maximum cashout means that the casino limits the amount you can withdraw from your bonus winnings, i.e. max cash out $100.
Another common type of bonus is the free play bonus. This bonus is where casinos give you free money in your account immediately at sign up, even if you don't make a deposit. The trick here is that you have to wager the money 50 or more times before you can withdraw, and some casinos won't let you withdraw at all unless you deposit later. These bonuses are usually between $5 and $25; casinos can afford to offer them generous because 99% of players lose their money while trying to reach the WR!
There are casinos that credit the bonus automatically on your first deposit, even if you don’t want to play with the bonus! Playtech casinos, Cryptologic casinos and some Microgaming casinos do this. You can not refuse the sign up bonus because by depositing you accept the casino’s rules! What to do? Check to see if it is credited automatically on your first deposit! If it is, send immediately an email the casino support team! Tell them you don’t want the Bonus! Important: wait for a response! If you don’t succeed by this way, then choose another casino.