Online casino bonuses look so tasty that you can’t resist taking a bite. On the other hand, their terms seem a bit complicated, which is why some Canadian players doubt if it’s reasonable to claim bonuses. In this article, you will find out if it’s real to make profit using the hefty bonuses that online casinos offer now and then.
Moreover, we will tell you how you can make this profit. This requires much effort from you, so it isn’t time to idle if you want to make money. Casino bonuses can be profitable if you do everything with a right approach. So, let’s get started!
Profitable Online Casino Bonuses
In recent years, the Canadian market of online casinos has grown significantly. On the one hand, there appeared more freebies for players. But on the contrary, they vary so much to date, that one can easily get confused and claim a wrong bonus that won’t bring any profit.
That is why here we selected those online casinos that feature reliable and clear bonus terms. Anyway, remember, with this list we are giving you a kickstart, and the choice of casino and the bonus is only up to you. So, don’t forget reading the specific terms and follow our recommendations given below.
Making Profit With Deposit Bonuses
It’s easier said than done when trying to make a profit using bonus offers because you need to consider many constituents of the bonus. It’s very likely that you will spend some time searching for the right real money bonus. Fortunately, the following pieces of advice will help you find it and use it as your earning money instrument.
Consider the wagering requirement
This step is perhaps the main one when you decide to make a profit with a deposit bonus. All casinos will set certain wagering requirements to the deposit bonuses, but not all of them will be the same.
Some casinos will require you to place bets up to a certain amount to be able to withdraw your winnings. This means that if you claimed a bonus, wagered it once and won a big sum of money, the money would not be withdrawable. Some players get really disappointed when they see their winnings are locked and they have to wager them back on games to unlock the cash-out option.
On the contrary, there are online casino sites with more loyal terms to bonuses. They separate your own cash balance and the bonus balance. Thus, you start playing with your own money and if you win big, you can go cash out, but the bonus will be forfeited as successfully as the wagering requirement. These offers are called forfeitable casino bonuses. Again, some casinos will let you cash out and remain the bonus for further play. They all differ, which is why you need to research each particular case.
Also, pay attention to the size of wagering requirements. It shouldn’t be enormous like 100x. Generally, anything above 50x is already considered a big wagering requirement. It is better if you pick a bonus with 20x or 30x playthrough.
Give Preference to Low & Medium Volatility
Slots are divided into three categories by volatility: low-volatile, medium-volatile, and high-volatile slots. Briefly, the higher the volatility, the bigger your wins but the frequency of the wins is reduced.
Online slots with high volatility will often limit you from easy wins. You can spin the reels 10 or 20 times before hitting a win. Thus, the bonus can already be coming to an end leaving you without funds to wager it several times.
The low and medium volatility games are not that risky. They will allow you to lose money and receive them back more often. This strategy is not very rewarding, but using it you will benefit more from the bonus before it reduces to nothing.
Comply With Casino Terms
This applies to those players who think they can benefit from the bonus by misusing it. If you try to get around a casino and use the deposit bonus exhaustively to win bigger rewards, it won’t be successful. Moreover, the casino will almost certainly block your account or limit you from using the bonuses. As a result, you won’t make money neither with the bonus nor without it.
Game Contribution Matters
All deposit bonuses will be given to particular games only. Mostly, you will encounter the match deposit offers that will only be profitable on slots. Of course, you can use the bonus money on all games, the question is how much it will contribute to the wagering requirement and whether it will at all.
When you understand the wagering requirement concept, you will realize that it’s super important to consider the game type, too. In this sense, slots are the most suitable because they contribute 100% of wagers towards completing the requirements. This means all wagers that you place to playthrough the bonus will count.
Table games, for example, usually contribute 50% which half reduces the size of wager that completes the requirements. Therefore, you will need to wager twice more than you could. It is similar to live games and video poker, which usually contribute only 10% or nothing at all.
The percentage of contribution depends on the general payout of the game. The higher the payout, the lower the wagering requirement contribution of a game.
Check the Max Win Amount
The first thing you see on a bonus ad is the amount of awarded money. Casinos can say ‘grab your 100% deposit bonus up to $1,000’ and you are already in. But the thing is that the thousand of dollars is given under two conditions. First, provided you deposited $1,000 and it is matched with another $1,000. Second, the $1,000 is not cashable. You can only play it on games.
What is cashable then? The max amount you can win. It’s a common case when players win several hundreds, but they can only withdraw $100. All the rest just passes away. However, the terms are different to each casino. Some sites will allow you to cash out the whole amount. Again, we encourage you to look for the max win amount in bonus terms of your casino. Knowing this, you can determine how big progress you can make with the bonus. If it’s only $100, ask yourself if it’s worth it.
Use Casino Bonuses Wisely
Most online casino players don’t know what to do with the bonus, how to use it right and not get into trouble with their casino. However, if you follow our recommendations above, the winnings will be closer than you expect. Some players will just waste the bonus without having a profit which they desire. But don’t take your position among them. Use the casino bonuses right to emerge a winner.
The only difference between these two types is that you don’t need to invest your money. And there will also be some restrictions for qualifying games and bet size. But the wagering requirements will remain for no deposit and for deposit bonuses. In any case, if you want to withdraw your winnings and continue to play at that casino, you need to complete the requirements. On the contrary, if you didn’t like the casino games, you can leave it without meeting the wagering requirements. And in this case, your no deposit bonus plays a better role since you didn’t pay a cent.
It is not recommended to earn money on casino games and consider it as the only source of income. That is because gambling is addictive. Thus, if you cannot stop at the right time, you will lose not only your money, but probably your car, apartment, and even relationships. But if you don’t easily fall into addiction, then you can gamble professionally. And this is also a long path with a lot of mistakes and effort. Besides, being a professional gambler in Canada, you will have to pay tax on your ‘work’ as you make a living only through casino games. Read a full article about gambling taxes in Canada on our site.
In fact, it depends. Often, the wagering requirements determine if the bonus is worth claiming it. For example, if the casino requires you to meet the 100x requirements, anyone will tell you it’s not worth it. And if the requirements total to 25x or 30x, it’s pretty ok to claim them. In other words, not all deposit bonuses are good for players. That is why gamblers should search thoroughly for their best profitable bonus.