Online Gambling (A Newbies Guide)
Here at LatestCasinoBonuses we all have something in common. We were all Newbies at one time or the other, entering into the realm of online casinos for the very first time… And it was Soooo confusing. What follows, I hope is some basic explanations of the in’s and out’s, ups and downs of online gaming.
If you are new here, it is most likely that you were drawn to one of the many No Deposit chips that our members post in abundance, so this is a good place to start.
A no deposit offer is just what it sounds like. Free money to play with that you stand a chance of receiving real money in return. That is the easy part. Where the confusion lies is in just how to achieve that.
A no deposit offering from a casino, A sign up Bonus or an appreciation chip are the typical offering. The casino’s offer these up to give a new player a taste and feel for their casino to aid you in deciding to make a deposit. These “free chip’s” have their own rules or restrictions… Every time. So the first thing you need the to know when you decide to claim an offer is what is expected of you if you want to stand a chance of cashing out.
Read the Terms and Conditions. These are typically found on the casinos website where you will be downloading that casino. They are often found at the bottom of the page as a separate hyperlink. You can also find that a link will be provided on the promotion’s page, a small link that says “Conditions”. If you are unclear as to the terms, contact the casinos live Support and have them explain. It is what they are their for.
While every casino… and every bonus has it’s own unique criteria, there are some Terms and Conditions (T&C) that are nearly universal in the gaming community. I will touch those briefly.
#1) Only 1 account/bonus is allowed for any player. This means per address, computer, IP address and email. Opening more than one will AUTOMATICALLY Void any withdrawal. Even if it was done unintentionally. Unintentional can be your husband or roommate joining the same casino, using your internet connection to do so. You can be locked out and banned from that casino for dong this, forfeiting any monies that may be in your account.
#2) You can only redeem ONE free chip with out a deposit. A deposit MUST be made before a second Free chip can be redeemed Or you forfeit ALL winnings.
#3) Sticky or non Sticky. Except in very rare cases Bonus money itself is non-cashable and will be removed from your account before a withdrawal is processed. The money won from the bonus can be redeemed for cash, but the bonus itself is gone.
#4) Playthrough. Playthrough is the amount of times the bonus must be “spent” before it becomes eligible for a cashout. Once Playthrough is met, (And I mean the very second… Poof… All gone) ALL moneys and Bonus is removed from your bankroll that is in excess of the maximum amount you may cashout.
For an example we will start with a common scenario.
A $100 dollar free chip. The playthrough on the chip is 25x or $2500. The maximum cashout for the chip will be 2x or double the free chip value. Each $
1 bet will lower the playthrough by $1, whether you win or lose on that wager… the $1 is removed. It is only at the time that you place your wager that the playthrough is reduced.
Free spins, because they do not require a wager, do not reduce the playthrough. (They do increase your bankroll so you have more money to wager toward the playthrough though). The better you are doing, the more wins you are getting, the more likely you will be to have enough of a bankroll to make the 2500 $1 bets. (yes you can bet less… or more, the amount of the bet will be subtracted from the playthrough.)
Once you hit that
magic $2500 for this chip everything in your “bank” will be removed… Except the $200 which is the max cashout for the chip in the example. It does not matter if you had $201 or $2001… you are left with the maximum amount you can cashout. (yes there are exceptions, but I am trying to not confuse you… yet)
#5) You have to prove that you are who you say you are to receive your payment. The casino will request a photocopy or scan of your Government issued Picture ID, is. Drivers license, Passport, or ID card. It should have the same information on it that you registered with the casino with, name, address, etc. In the event you will be funding your account with a
credit card, they will request a scan of the front and back side of EACH card you intend (or have used, as this rule applies to all withdrawals) and finally they will ask for a current utility or other bill addressed to you at the address on their records. This information is typically only required to be sent a single time and the casino will keep the verification on file for future withdrawals.
As you cruise about the internet you will see lots of posts about “X Casino is a rip off, I had 3,000 in my account and all of a sudden they took all but 200 of my money…” or similar variations. This is most often because they have not read this handy little guide, nor the terms and conditions for the chip.
In the following posts I will try to add a FAQ section that will deal with some of those most commonly asked or confusing issues that arise from online gaming…
