Are bonus offers gifts or not?
More About Casino Bonus Terms and Conditions
As we all know, you rarely get anything for free in life. Online casinos take a different approach because they like to give new, interested users a few hundred dollars to play slots – and sometimes also classics.
This is one of the points where you can tell the difference between good and bad casinos. Reputable casinos often offer high bonuses but at absolutely fair conditions. You don’t get the money for free.
This means you have to do something to be entitled to winnings payments after a few hours, days, or weeks depending on the length of play.
The Bonus – Usually Not a Gift
A casino bonus is almost like a loan – with the difference that there are a few casinos where the amount does not have to be paid back. Or, to put it more concretely: If you receive a bonus and gamble away all the money, no one will ask you to pay it back to the “lender,” the casino.
However, if you fulfill the bonus conditions, you receive the winnings that exceed the bonus, while the “gift” is usually deducted from this sum again. So you don’t get anything as a gift, whereas a bank wouldn’t care whether you profit or not.
If the loan is due, it has to be paid back in the classic banking business.
Multiple Conversion Necessary
Because even good online casinos have nothing to give away, said bonus conditions are. They can look different depending on the provider. In the case of reputable companies, they are designed to have a realistic chance of fulfilling all requirements within the given time.
Let’s assume, for example, that you deposit 100 dollars and receive a 100% bonus. Now the casino could stipulate that a total of 200 dollars must be wagered 20 times. If, in the end, you have wagered 4,000 dollars in any game and are in the black, nothing stands in the way of a payout.
In most cases, the casino keeps the bonus. However, there are exceptions.
Make Clever Use of Bonus Offers
Under “Pay tax on winnings?” we clarify the question of what happens to the winnings received after they have arrived in your current account. There are specific taxation guidelines in Australia that regular players should be aware of.
Although some winnings payments fall under the heading of “taxable,” you don’t have to worry about that for the time being. It is much more essential to develop a plan for the easiest way to fulfill the casino bonus conditions.
Our tip: Pokies are still best suited for implementation.