Redeemable Bonuses
A redeemable bonus simply means that you can withdraw the bonus money. Imagine this: after completing the wagering requirements of a bonus, you have $400 in your account. $50 of that is bonus money. When you go to withdraw you are allowed to withdraw the $400.
Non-Redeemable Bonuses
Using the example above, with Ragingbull bonus codes you have the same $400 in your account. However, this time when you go to withdraw them, the $50 bonus is subtracted from the $400, leaving you with $350. Non-redeemable bonuses are simply the casino’s way to protect themselves from people who meet the wagering requirements and still have bonus money in their account. In both cases, the winnings are always yours.
Betting Requirements
This means the amount of money you have to bet on a game before you can withdraw. The wagering requirements may apply to the bonus or the bonus plus deposit only.
For example, if you deposit $20 and get a bonus of $20 you will have $40 to play with. If the wagering requirements are 20 times the bonus and the deposit, you have to wager $800.
But if the wagering requirements are 20 times the bonus you only have to wager $400 of your money.
The latter is the best option.
Bonus Contribution
The wagering requirements are not always what they seem. Dig a little deeper into the terms and conditions of any bonus and you’ll find the real details.
One of the most important aspects is the amount a casino game eats out of a bonus wagering requirement. This is known as a “bonus contribution”.
For example, you see a decent 100% bonus with 15 X wagering requirements (bonus and deposit), which means that you will have to wager $3,000 to withdraw ($100 X 2 = $200 X 15 = $3000). Simple right?
Well, it is very easy if you only play slots, as they almost always contribute 100% of the bet to the wagering requirements. However, games that have a lower house edge, or are played by expert players such as blackjack and video poker, will contribute less to the wagering requirements.
The bottom line here is simple: the lower the contribution, the longer it will take to meet the wagering requirements.
Things start to get a bit more complicated when you start playing different games with the same bonus, as the contribution varies.
Final thoughts
There are many types of casino bonus codes and promos which are continually advertised. Many of them appear extremely appealing – they’re meant to be!
The important thing is to make sure you understand the terms and conditions applied to each bonus offered before grabbing it.
You can then decide which will be most beneficial based on your own budget and wagering habits, as well as your preferred games.
Bonuses allow you to get more for your money, or in some cases use them to try new games or platforms without risking your own money.
