Bingo Bonuses
The way most online gambling and bingo sites entice new customers to sign up is by offering bonuses. This is usually advertised as being ‘free’ money, either as a fixed lump sum for each and every customer who opens an account, regardless of whether you make a deposit or not, or as a percentage of your first deposit which the site matches. For example, if you sign up to gambling site Wink Bingo then you’ll automatically get £15 ‘free’ just for signing up. If you deposit money with them you’ll get a 200% bonus for deposits of between £5 and £100, meaning if you put in £100 then Wink will add another £200 on top of that to your account. This sounds splendid and the way that the advertisements are written imply that this is literally free money, the same as the site giving you £200 in cash. However, this is far from the truth and works as an example of why reading the terms and conditions of a bingo site is essential before you make any kind of commitment or deposit.
‘Free’ Money
When you opt into the deposit bonus schemes operated by most bingo sites you are also opting into terms and conditions relating to your gambling habits. For example, if you deposit £50 and then are eligible for a 200% bonus on that money you will probably be entered into a 2x wagering agreement. That means that before you make any kind of withdrawal you’ll have to have wagered at least £300 on the site because of the £150 total of your initial deposit plus the deposit bonus. Sound confusing? It can be, certainly when you’re new to the world of online gambling and are perhaps unaware of the kinds of contracts you’ll be getting into.
Withdrawing Bonuses
The short answer to the question ‘can I withdraw my bonus money?’ is no. Most sites consider the bonus money to only have value when used on their site. For bingo sites this means that you can only spend your bonus money on more bingo tickets to enter more bingo games. So the ultimate aim of the bonus is to keep you coming back to the same bingo site and playing games and at the get go it means you’ll have more cash to spend when you create an account without having to commit too much of your own cash.
Swings and Roundabouts
So, what is the overall verdict on the deposit bonus culture that exists on bingo sites? Well if you are a seasoned online bingo player and know how the whole thing works and believe that you can commit to a bingo site in order to meet the minimum wagering requirements then it’s no problem. The only problem would come if you were a novice who wasn’t aware of the clauses and got blinded by the promise of ‘free’ money which is in actual fact a bit of a white lie. The best advice for beginners is to start off small, depositing a few pounds or taking advantage of commitment free sign up bonuses that require no deposit. This will allow you to find a site that you like and you can start making deposits as and when you see fit.
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