Understanding Casino Bonuses
If you're looking to get the most out of bonuses we strongly suggest you read the below information.
It contains detail descriptions of terminology that's commonly used in almost all casinos. As with everything on Jackpot.co.uk you are encouraged to contact us if you have any specific questions.
Taking up a cashable bonus simply means that you can withdraw the bonus money. Picture this: after you complete the wagering requirements on a bonus, you have £400 in your account. £50 of that is bonus money. When you go to make a withdrawal you are allowed to withdraw the entire £400. 90% of the bonuses on Jackpot.co.uk are cashable bonuses.
Using the above example, you have the same £400 in your account. However, this time when you go to make your withdrawal, the £50 bonus is taken off the £400 leaving you with £350. Non-cashable bonuses are simply a way of casinos trying to protect themselves from people who meet the wagering requirements and still have bonus money left in their account. It goes without saying, in both cases, any winnings are always yours.
This means the amount of money that you have to bet on a game before you can withdraw. Wagering requirements can be on the bonus only or the bonus and deposit. For example, if you deposit £20 and get a £20 bonus you will have £40 to play with. If the wagering requirements are 20x the bonus and deposit, you will have to bet £800. But if the wagering requirements are 20x the bonus you will only have to bet £400 of your money. The latter is obviously the better option.
Wagering requirements are not always as they seem. Dig a little deeper into the terms and conditions of any given bonus and you'll find the real details. One of the most important aspects is how much a given casino game eats away at the wagering requirements of a bonus. This is called the 'bonus contribution'.
For example, you see a decent 100% bonus with wagering requirements of 15x (bonus and deposit) which means you will have to wager £3000 before you can withdraw (£100 x2 = £200 x15= £3000). Simple right? Well it's simple if you only play slots, as they almost always contribute 100% of bets to wagering requirements. However, games that have a lower house edge, either naturally or by being played by a skilled player such as blackjack and video poker, will contribute less to wagering requirements.
The bottom line here is simple: the smaller the contribution, the longer it will take for you to fulfil the wagering requirements.
Things do start to become a little more complex when you start to play different games with the same bonus. However, the table below will help you to understand how bonus contributions work. The table is based on a 100% bonus where the player deposits £50 (gets £50 bonus) and where the wagering requirement is 15x bonus and deposit.
|Roulette||15%/(or £0.15 per £1.00 bet)||£20,000|
|Video Poker||10%/(or £0.10 per £1.00 bet)||£30,000|
|Blackjack||5%/(or £0.05 per £1.00 bet)||£60,000|
|The formula for the above is: ([bonus] * (100 / [contribution]) * [wagering requirement] = Wagering Requirement|