Interview with RAIG Chairman Clive Hawkswood
January 15, 2020
Clive Hawkswood is the chairman of Responsible Affiliates in Gambling (RAiG), an independent body that aims to promote safer, responsible gambling.
There is no better way to start your betting action than by boosting your bankroll with Bitcoin bonuses. See the best bonus deals up for grabs here.
Bitcoin casino bonuses are the honeypot in real-money plays. You can enjoy these major perks when you play in Bitcoin online betting sites. Bonuses often come in the form of free credits, which are offered to players as a form of reward.
You can redeem your casino bonuses in various ways. Some bonuses are given to you right after you sign up, others are specifically made for high rollers, and some are rewarded to you each time you reload your account. Either of these ways, one thing remains constant—Bitcoin casino bonuses certainly add a rewarding kick to your betting experience. Jump-start your game by getting your hands on some of these rewards.
The different types of bonuses above can be grouped as cashable and non-cashable. These categories indicate how you can use your bonuses as you play. Here is what set these two bonus groups apart.
Non-cashable bonus, as the name implies, is a play-only reward. Meaning, it is applicable only for wagering purposes. You can keep all the winnings you have acquired from this reward so long as you clear the bonus terms. But on the flip side, you cannot cash out the bonus amount itself.
In most cases, online casinos split your account into two—a player account and a bonus account. The former contains all your deposit money, while the latter keeps all the rewards you received from a betting site, including the non-cashable rewards. If you win, your prize will be credited to your player account.
Say, you deposited US$100 and received a 100% or US$100 non-cashable deposit bonus in your bonus balance. After completing the wagering requirements, you won US$150, leaving your bankroll with US$350. Going by the non-cashable bonus terms, you can cash out only the US$150 you have won.
If your bonus is cashable, you can cash out both the bonus amount and the winnings you have obtained from them. To do so, simply clear the wagering requirements attached on the bonus. For instance, you make an initial deposit of US$100 and get a cashable first deposit bonus of 200% to US$200 in return. If you win a total of US$100 after clearing the bonus requirement, you can withdraw the US$400 in your account.
Most players prefer cashable bonuses as they can enjoy the bonuses in various ways, other than betting. But do note that cashable bonuses are not so common in the betting space. Non-cashable bonuses, on the other hand, are ideal for keeping a steady bankroll and are usually offers higher bonus rates than cashable rewards.
When loads of free cash, bonus spins, and money-back incentives are right before your eyes, grabbing them right away seems like the best move. But to make the most out of your rewards, you must check first the strings attached to them.
Rollover requirements are also known as wagering requirements. These terms indicate the certain amount of money you should bet before you can cash out your bonus. Most betting sites require players to meet 20x to 30x rollover requirements.
For instance, you received a US$100 deposit bonus after funding US$50 to your account for the first time. Say, the betting site requires a 20x rollover requirement for your bonuses. This means you need to bet the at least US$ 2,000 before you can withdraw your bonus. Some betting sites you to bet the sum of your deposit amount and the bonus. In that case, you will have to bet US$3,000.
Before jumping from one game to another to clear your bonus terms, you must note that not all games can contribute to these terms. The most common example is free spins, which is applicable only to slot games. Meanwhile, some casinos place different bonus contribution rates per game type.
For instance, you need to wager US$250 to cash out your deposit bonus. The betting site you are playing on indicates that roulette games count 20% on bonus terms. Meaning, if you stake US$50 on American roulette, US$10 will be reduced from your wagering terms.
Take note that bonus terms may vary from casino to casino. In fact, some betting sites even require you to clear the bonus terms within a certain time frame. Once you clear your bonus requirements, your bonus will be credited to your account within the casino’s processing period, which may take a few days. But, if you are playing on a Bitcoin casino, expect you do not have to worry about long processing days, as Bitcoin transactions are instant.
In a nutshell, wagering requirements are the casino’s way to ensure that players will not just sign up, claim their bonuses, and leave. You can usually spot these terms in a betting site’s terms and conditions sections and in the small prints.
Claiming bonuses is a good way to give extra value to your deposits. The more credits you have to play, the longer you can play and have the chance to win. If a bonus comes with clear-cut and reasonable terms, there is no harm in accepting them.
A good bonus deal comes with realistic bonus terms. Most betting sites set their wagering requirements between 20x and 30x. Bonuses with terms within this range are good deals as these terms can be easy to reach.
Say, you stumble upon a 100% deposit match bonus with 10x rollover requirements. Plus, the bonus applies 100% contribution rates on slots. If you deposit US$100, you need to meet US$2,500 to cash out your bonus. You can easily meet this amount while enjoying as all the slot games can contribute 100% to your bonus terms.
A cash-out limit is one of the important factors that you must look for in a bonus deal. It states how much you can withdraw from your bonus. The ideal maximum cash out should be 5 times your bonus amount, but some betting sites can go as generous as not putting a cash-out limit at all. Bonuses set with a low cash-out limit are usually a no-good and a sign that you must look for better deals.
Every game present in a betting site’s library has a house edge. It is a portion of the total player bet the online casino can get as profit over the long run. For instance, if a Keno game has a 20% house edge, the betting site can make a 20% profit from the wagers placed in the game.
It is best to choose a bonus deals playable on games with low house advantage. Otherwise, you might need to play for a long time before you can get satisfying returns. Remember, your goal is not just to clear out your wagering terms, but to earn a profit from them as well.
Overall, it is important to always read and understand a casino’s terms and conditions as well as the small print of these rewards. Look out for bonuses that will offer the best value for your funds to make the most out of your game. With a bit of luck and freebies on your stash, you will surely have a fun and rewarding betting experience.
Your quest to a myriad of rewards begins in finding the ideal betting site for you. Check out the best bonus deals up for grabs in the top Bitcoin casinos below.