Today there are between 350 and 400 online bingo site and the competition is intense. One method used by online bingo operators to attract new players is offering generous bonuses to new players. Welcome bonuses of 500% are now common at bingo sites. While bonuses may appear to be a great deal some sites are trying to deceive players. Out of all the marketing techniques and strategies used by bingo operators bonuses are the most advertised. While large bonuses may entice some players they are not without risk.
The old saying “if it’s too good to be true it probably is” can be applied to some bingo bonuses. Bingo operators are counting on the fact that most players are too busy to read all of the terms and conditions associated with large bonuses. Ignorance of the terms and conditions and the wagering requirements can lead to unpleasant misunderstandings between players and operators. There are many ways players can be taken advantage of. To avoid bonus problems some experts say that players should deposit less than the amount required to trigger bonuses.
When visiting a bingo site players should check out the promotions and welcome bonus. Usually there will be a terms and conditions section of the page and it is usually here that the wagering requirements can be found. The wagering requirement is the amount of money that must be bet before any withdrawals can be made. The amount is usually calculated by adding the deposit amount to the bonus and attaching a multiplier. The fairest multipliers are usually around 3X to 4X and the worst can be as much as 20. A multiplier of 20X would require the player to wager 20 times the amount of the deposit and bonus funds. A high multiplier can render the most generous bonus worthless. Most players will not be able to clear wagering requirements of that size. It is usually better to deposit a smaller amount so that winnings may be withdrawn immediately.
Another deceitful method used by operators is the practice of valuing wagering contribution differently between games. For example Players may receive 100% for bingo games but only 50% for side games such as slots and other casino games. Slot game players must meet a target that is twice as high. Players should remember the following facts;
High bonuses will bog players down.
Always read the terms and conditions.
Try to deposit under the bonus requirement levels.
Avoid sites with unreasonable wagering requirements.