Many Bitcoin casinos offer a matching bonus promotion to encourage new players to sign up. Upon receiving the bonus, some new players might not know how to turn it into bitcoins in their wallet. Some decide to discard it when they deposit more Bitcoin to a casino since making another deposit cancels the promotional bonus cash. All these are stated in the Bitcoin casino bonus terms.
Bitcoin bonuses given by casinos and sportsbooks like Cloudbet and Café Casino can turn to spendable bitcoins. Players simply need to follow the wagering requirement of a specific promotion and casino.
The principle behind the bonuses
Online casino bonuses are usually in the form of a matching bonus that is equal to a player’s deposit amount. If a player deposits 100 mBTC to take advantage of a 100% welcome bonus, for example, he will get 100 mBTC worth of bonus cash.
There is usually a limit to the amount of bonus cash a player receives through the promotion. If a welcome bonus says ‘100% welcome bonus up to 1,000 mBTC’, a player will only receive a maximum of 1,000 mBTC even if he deposits 2000 mBTC.
There are different Bitcoin casino bonuses and deals today. One of these is the no deposit bonus where players can receive bonus cash without making any deposit. A no deposit bonus usually gives a small amount of bonus cash for a player. There is also a requirement where a player needs to make a deposit first before he can turn it into spendable Bitcoin.
Many players might think that they can take advantage of the system. Bettors do this by depositing some Bitcoin and withdrawing all of their Bitcoin along with the bonus. However, this will not work since the bonus cash is in the form of a promotional currency.
While the bonus is still a promotional currency, the player does not fully own it yet. In order to turn it into a spendable Bitcoin, a player will need to meet the wagering requirement of a bonus.
Wagering requirement and other conditions
A wagering requirement is one of the conditions a player needs to fulfill to turn his promotional currency to actual cash. The wagering requirements are usually in the Bitcoin casino bonus terms and conditions of each promotion. This includes the welcome bonus and no deposit bonus.
Players should know the bonus terms before playing. A wagering requirement is where a player needs to bet his promotional currency a number of times. This is usually 20 to 40 times the amount of a player’s bonus cash, but this depends on the Bitcoin casino. If a player receives 100 mBTC and the wagering requirement is 30 times the amount, for example, he needs to play a number of games until he bet more than 3,000 mBTC.
It is important to take note of the games that meets the wagering requirement of the Bitcoin casino bonus. Betting on certain games may not count toward clearing the requirement. If a player does not know which games are qualified for the wagering requirement, he can always contact a casino’s support team for clarifications.