Believe it or not there are now more than 350 online bingo sites on the net (according to research carried out by the BBC.)
With this increase of sites to play at, competition between these sites is very fierce with each one trying to attract you to their own, this is understandable but it can set you up for a disappointment if you are not careful.
New Player or Welcome Bonuses are by far the biggest pull to any new site and ever increasing amounts are offered when we do sign up. We are wowed by flash homepages and the opportunity to grab ourselves a wonderful welcome of up to 500%! So if we deposit say £100 we will have £600 in our account?
Are These Offers too Good to Be True?
Well, there is an old saying that goes ‘You don’t get something for nothing,’ and this is true in this situation too. None of us should expect something for nothing, after all if all sites offered mega welcomes without some strict rules they would go bust in no time at all. The advice here is to read the small print, just as you would before entering any other financial transaction.
One idea for those unsure is to deposit underneath the amount required to trigger bonuses. If you do this and do not receive any funds you will find you are not tied into clearing those monies before getting your winnings.
Find out what the wagering requirements are prior to opting in to any promotion. On any sites promotional page there will be a drop down menu available to check out all the terms and conditions and it is here you will find the wagering requirements. These wagering requirements are the amount of money that you need to stake before you can withdraw any winnings.
The wagering requirement works by adding your deposit to the bonus funds then the site adds a multiplier which is usually in the region of 3x-6x, this is fair, whereas some sites can add a multiplier of about 20x! This huge amount would mean that you would be required to stake 20 the value of your funds! This type of multiplier is a scam as players will find that any winnings will be eaten up by the requirements of the site. So BEWARE!
Points to Remember
- The highest bonus rates are not always the best
- Check the small print before opting in
- Where wagering requirements are too high-don’t play!
- Will the site let you deposit under the bonus level as a new player?
Of course that extra cash many offer is a great way to play, just make sure that you use a good comparison site that promotes the casinos that are fair and true to their word.