All you need to know about forfeitable casino bonuses
Today on NonGamstopCasinos.co.uk we’re going to explain what forfeitable casino bonuses are, and why so many players (yours truly included) love them.
To start off, we need to go back a few steps and explain the term “casino bonuses”.
What is a casino bonus?
A casino bonus is a promotion run by online gambling sites. There are different bonuses available, but the most common ones are:
- No deposit free spins. You get to spin a certain amount of rounds on a slot machine for free. Your winnings are either cash or bonus money with a wagering requirement attached.
- No deposit cash bonus. Just like it sounds, some casinos hand out 5 quid for you to try their casino games. Often this bonus comes with a £100 max win limit.
- Match bonus. Requires a deposit, and doubles the money you deposit. These always come with wagering requirements. This bonus is also called a “100% bonus”, but they come in different sizes as well. Sometimes you can land 200%-500% bonuses as well.
- Free spins on deposit. For this bonus, you usually get between 10 and 200 free spins on slots. The spins have a set value (which is usually the minimum bet level available on the slot).
So what is a forfeitable bonus?
Forfeitable bonuses are in general match bonuses (deposit bonuses) with wagering requirements attached.
That, however, is not the interesting part.
With a regular match bonus, it looks something like this:
Deposit £100 and get £100 bonus money.
Now you have £200 to play with. So far so good, but keep with me.
The bonus has a wagering requirement of 25x the bonus money and the deposit amount.
This means you need to wager £200 x 50 = £1000 on casino games. This might sound like a lot, but it’s not that hard to do as slot machines have a really high RTP.
Let’s say you start playing and you instantly hit a big win of £5000. With a regular bonus you would have to finish your wagering requirement for the whole bonus before a withdrawal would be possible.
However, with a forfeitable bonus this is not the case.
Instead, when you play with a forfeitable casino bonus you play with your real money first. If you then run out of your own money, you will then use the bonus money available.
This means, that if you hit a big win before your balance goes under £100, you can forfeit your bonus (the £100 you got on deposit) and just withdraw whats left of your initial deposit and the big win of £5000.
Are all bonuses like this?
No, most bonuses are not forfeitable.
This is because they are better for players but not as good for casinos. However, as the competition is quite high in the gambling industry, these promotions are offered to entice players to join new casinos.
If one casino starts, then the competition has to follow if they want to attract new sign-ups.
That’s why these offers exist, and we could not be happier about it!
Are forfeitable casino bonuses common on non gamstop casinos?
To be honest, they are just as common on non gamstop online casinos as on UK licenced operators. Unfortunately, they are quite rare, but it’s worth your while to look out for them.
The day you hit a big win at the beginning of your game session you’re going to thank yourself for claiming a forfeitable bonus instead of a regular one!