How to Withdraw Bonus Winnings
Bonus cash is an excellent incentive that casinos will regularly use to bring in new players or entice their existing account holders to make more deposits. Though it is possible to win big - and to cash out big after that win - it is crucial that you understand the terms associated with these offers to avoid frustrating surprises down the road.
What are the Bonus Cash Terms in Casinos?
When you accept any kind of offer from a casino, it is important to pay attention to two things: the wagering requirements associated with that offer and the actual terms and conditions associated with processing the withdrawal. Only when you understand both of these can you set the right expectations for yourself and make the process involved in withdrawing your winnings simpler.
The first set of promo terms to understand will be the wagering requirements associated with that offer. This will vary a great deal, so be sure that you read the terms associated with every single offer you want to take. In general, wagering requirements state that you must wager a specific amount of money in relation to the amount you win with your free cash. For example, if your bonus nets you a win of $200, and if the initial offer had a wagering requirement of 30x, this means you must wager a total of $6,000 before you can process a withdrawal. Note that you do not have to deposit $6,000; you only have to wager it.
Other Terms and Conditions
While it is critical to understand how wagering requirements work, there are other bonus cash terms to keep in mind, as well. For example, you may be asked to verify your identity before you can process a withdrawal, which is commonplace across the country and especially common in government-owned online venues. To do this, you might be asked to fax a copy of your identification to a specific department within the casino, then wait a few days for the team to verify your identity.
Withdrawal Size and Methods
There may also be bonus cash terms associated with the size of your withdrawals. Many casinos limit the size of individual transactions and cap the amount that you can withdraw each day. Depending on the size of that withdrawal, you may be required to utilize specific payment methods, such as your bank account. Typically, large withdrawals must be processed in this way since bank wires and EFTs are considered the most secure way to move funds. Bear in mind that each casino has its own set of bonus cash terms, so be sure that you read them very carefully before you make any sort of deposit or attempt to process your withdrawal.
In summary, bonus cash terms in casinos may dictate numerous things, including the time it will take to process a withdrawal request, what you must do in order to qualify for that withdrawal, the maximum size of the payout per day, and even the payment method availability based on the size of the payment. The more you can learn in advance, the better off you will be. Nobody likes surprises when it comes to getting their money.