Learning How to Withdraw Free Bonus Money
There are few things nicer than free money, and casinos often run promotions offering new players just such a welcome bonus without any need for a deposit. It may come as no surprise that there are some strings attached to this gift, so read on to learn more, including what wagering requirements are and how to withdraw that free money.
Types of Free Money
Money's money, right? Well, not quite. If you're getting free money for signing up with a casino then there are a few different types you might receive. Free spins for slot machines, or credits for specific games, are a common type. Another is a straightforward cash sum (typically small). For established players, there's also the possibility of cashback, a percentage of your losses over a given period. But, except in the rarest of circumstances, you can't just log in, enter the relevant code, get the cash and withdraw it. Before that can happen, you need to meet certain wagering requirements.
The wagering requirements vary according to each particular free money offer and casino, so be sure to check the fine print to learn the specific details. The general approach, however, is almost always the same. A certain amount of free money will be offered to the player as either cash or credit for free spins/plays of a game. However, before money can be withdrawn, the player must first perform a certain number of spins or wager a certain amount from any winnings (for example, if you win $10 and the wagering requirement is 20x, you'll need to be $200 to be eligible for withdrawal). It's very unlikely you'll be able to spin once, win $50, and cut and run. On top of that, there may be an overall withdrawal limit. That might sound stringent, and to an extent it is, but it's also worth considering the money is free to start with.
Withdrawal Methods for Free Money
The ease of withdrawing free money might depend on whether or not you've already deposited and withdrawn money with a given casino. There's a range of withdrawal methods available, from credit cards to e-wallets and instant banking. If you already have your details in the system then you're probably ready to go (assuming you've met the wagering requirements outlined above).
However, free money is often part of deals available to new players, who, by definition, don't have any financial transaction details set up. Your preferred withdrawal method might, therefore, depend on whether you intend to just take your winnings and leave, or plan to keep on using the casino on a regular basis. There's a wide variety of financial options available, the primary ones being credit/debit cards, e-wallets, and instant banking (such as an eCheck). Some methods, such as credit cards, are available widely, but be aware that each casino has its own array of options for deposit/withdrawal and you might be better off checking this before you get started, just in case.