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Crypto Casino Bonus Offers – The Good, the Bad, and the Ugly
Like traditional online gambling sites, most cryptocurrency casinos use bonuses and other promotional offers to attract new players and keep existing ones loyal. But, while many bonuses do provide the opportunity to effectively stretch your bankroll, not all crypto bonus offers are what they seem on the surface. So, in this original CoinBets.com guide, we’ll show you how to spot the difference between genuinely good crypto casino bonuses and those you should avoid.
We’ll take a close look at the types of crypto casino offers available, including welcome bonuses, free spins, no-deposit bonuses, and loyalty programs. Then, we’ll analyze some of the potential drawbacks of bonus offers, like wagering requirements and various limits, and give you some red flags to look out for. So, if you want to get the most from crypto casino bonuses, without falling victim to common traps, keep on reading.
Importance of Understanding Crypto Casino Bonuses
Everyone loves free stuff - and this fact has long been used by businesses of all types to attract customers. From supermarkets and pizza chains with BOGO (Buy One Get One) offers to car dealerships offering to give you thousands for any car you trade in, regardless of condition, promo offers are at the heart of our commercial society. We’ve all grown up with them, and like to think we know a good deal when we see one. And, by and large, this is true.
However, online gambling presents some very specific challenges in discerning good offers from bad ones. For starters, the moment we jump into the crypto world, we’ve entered a space of high price volatility and many variables - this can make assessing the true value of a bonus more difficult. Secondly, online casino offers of any kind tend to be complicated, often dividing into multiple parts, each with its own set of terms and conditions. Again, this makes it difficult to get a clear picture. And finally, many casinos, whether online or offline, deliberately play on human emotions to get people to make rash decisions.
Given this, to get real value from a crypto casino bonus, it’s critical to have a thorough understanding of how they work. Whether you’re a newbie or a seasoned online gambler, being able to accurately gauge offers and understand the implications of terms and conditions, will help you maximize your winnings and avoid frustrations (or even downright rage).
The Good: Beneficial Bonus Offers
So, let’s take a look at the main types of bonus offers you’ll find at popular crypto casinos today.
Welcome Bonuses
Most crypto casinos offer welcome bonuses to persuade new players to sign up and make a deposit. Usually, these welcome bonuses consist of one or more deposit matches - where the casino will match your deposit/s by a given percentage up to a specified amount. Commonly, deposit matches are 100%, but at crypto casinos can sometimes reach as high as 200% or even 300%, with limits reaching into multiple BTC.
For example, a typical crypto casino welcome bonus might offer a 100% match on your first deposit, up to a maximum of 1 BTC. So, if you deposited 1 BTC, you’ll get an extra 1 BTC worth of bonus funds, giving you 2 BTC to play with. This incentivizes players to deposit as much as they can afford to get a bigger bonus, giving them a larger bankroll, and hence more chances to play and win, without risking as much of their own money. Additionally, the fact that crypto is highly volatile and can appreciate in value rapidly, makes these large welcome bonuses even more attractive during bull markets.
Real World Example:
BitStarz, one of the world’s most established crypto casinos, offers new players up to 5 BTC of bonus funds spread across their first four deposits. Plus, 180 free spins are also thrown in to make the offer even more appealing. BitStarz does offer a fiat welcome bonus too, but that is worth just €500. Considering 1 BTC was worth over €50,000 at the time of writing, it shows just how much value the crypto welcome bonus provides.
No Deposit Bonuses
It is possible to play and win real money without committing any of your own funds, by using a cryptocurrency casino no deposit bonus. Usually, all you need to do to qualify is open your first account with the casino. However, as you’ve probably guessed, they are usually of very low value - maybe a few mBTC or a handful of free spins. Still, they allow you to check out the platform, and even win, without spending a single satoshi.
Indeed, using a cryptocurrency casino no deposit bonus can be a great way to ‘test the waters’ before really committing. You can test the casino’s user interface, browse the full game selection, and get a feel for the overall experience. But, you should be aware that winnings from playing with a no deposit bonus will usually come with wagering requirements and low maximum withdrawal limits.
Real World Example:
FortuneJack, a popular crypto casino, has been known to offer new players 25 free spins just for signing up. The spins are of the lowest value and restricted to selected slots, but they do allow players to win real crypto. Of course, withdrawable winnings are also limited for the offer, but it’s a good way to try the casino at zero financial risk.
Free Spins
If you love slot games, free spin bonuses are worth looking out for. In essence, they are very simple - you’ll get a certain amount of free spins for a selected game or games. This gives you a genuine chance of winning real money or crypto without gambling your own funds. Free Spins are often included with welcome packages but are also frequently offered to existing players as ongoing promotions.
Compared to traditional online casinos, free spin bonuses at crypto casinos are often more generous, with hundreds sometimes available to new players. However, because these bonuses are usually restricted to specific games, it’s important to check the small print first - 100 free spins on a game you enjoy can be great, but not so much if it's for a game you hate. Also, remember anything you win on your free spins will likely be subject to wagering requirements and limits.
Loyalty Programs & VIP Clubs
Whereas welcome bonuses are designed to attract new players, loyalty programs are intended to reward long-term players. Most loyalty schemes are based on tiered systems, with players earning points based on their wagering activity. Once enough points are accumulated, players can exchange them for bonus funds, free spins, cashback offers, and other perks - with the rewards getting better as the player rises through the tiers.
Some crypto casinos also offer separate VIP clubs, which are very similar to loyalty programs but have higher qualification requirements. Accordingly, rewards are of higher value, and members often enjoy privileges like higher wagering and withdrawal limits. At the upper tiers of these programs, players often get personal account managers and invitations to exclusive real-world events.
Real World Example:
Hugely popular crypto casino Stake offers a loyalty/VIP program allowing players to earn daily, weekly, and monthly bonuses based on their VIP status. As players wage more, they climb the VIP ladder (Bronze, Silver, Gold, Platinum I, Platinum II, and Platinum III), unlocking bigger rewards and better perks. However, to reach even Bronze, you need to have wagered $10K worth, and to reach the highest Platinum III level, you’ll need to have wagered $1M worth of crypto.
The Bad: Drawbacks of Some Bonus Offers
Even the best crypto casino offers will come with various terms and conditions attached. Here are the main ones you need to be aware of.
Wagering Requirements
If there’s one thing you need to understand about any online gambling offers, whether it's at a traditional or crypto casino, it's wagering requirements (also called ‘playthrough’ requirements). Understanding them can be the difference between getting a huge boost to your bankroll or getting a huge headache.
Righty, so, wagering requirements are simple in principle. They specify how many times a player must bet their bonus amount, using their own money or crypto, before they can withdraw any winnings. For example, if you get a 0.5 BTC bonus and it has a 30x wagering requirement, you’ll need to wager a total of 15 BTC before you can cash out. Or, if you get a 1 ETH bonus subject to a 35x wagering requirement, you’ll need to wager a total of 35 ETH before you can cash out.
However, things get more complicated. For one, there are always time limits for meeting wagering requirements, and different types of games will contribute differently to them. As a rule, most slots will contribute 100%, but table games like blackjack or roulette often only contribute 10%, and live dealers games rarely contribute anything. So, if you’ve got to wager 0.5 BTC, and you spend 0.5 BTC on slots, you’ll be done, but you’d need to wager 5 BTC on table games to meet the same requirement.
As you can see, while a 100% bonus of 0.5 BTC may seem like a brilliant offer at first glance, in reality, most players won’t be able to meet the wagering requirements within the time limit. And, guess what happens if you fail to meet wagering requirements within the time limit - yep, you’ve got it, you forfeit your bonus.
Real World Example:
At 1xBit, a large crypto casino, players get just 10 days to complete 40x wagering on their welcome bonus. Unfortunately, many players don’t calculate how much they will need to spend first and only realize they won’t be able to complete wagering when they’ve already spent a significant amount.
Time Limits
In addition to the already discussed time limits regarding wagering requirements, other time limits apply to bonus offers. For example, once awarded, free spins often need to be used within a few days otherwise they are canceled. And, welcome bonuses often need to be claimed/opted into either immediately on registration or within just a few days of opening an account. Plus, like all promotional offers, even the best crypto casino offers are usually only available for a limited time.
In general, time limits in all circumstances are intended to make players make rushed decisions. This often leads players to adopt more aggressive betting strategies (for example, placing bigger bets to try and meet wagering requirements in time), or to opt into bonuses without taking the time to read the terms or go through the maths first.
Game Restrictions
Another drawback common to most crypto casino bonuses is game restrictions. While the bonus will often be advertised to give the impression you’re getting ‘free money’ or spins to use as you please, they can usually only be used on a limited selection of games.
As previously mentioned, in the case of free spins, they will normally be limited to just one, or maybe a handful, of specific slots. But, even bonus funds awarded as part of a welcome bonus, may not be playable on certain games - typically table games, poker, and live casino games. And, even though bonus funds are usually valid for most slots, there will probably be a list of specifically excluded titles - typically the games with the highest RTP (return to player) rates.
The Ugly: Potentially Deceptive Practices
The terms and conditions we’ve just discussed are one thing. If you don’t check them first you might lose out, but as long as you understand the restrictions and act accordingly, you can still enjoy real value. However, some crypto casinos deliberately employ deceptive practices to try and trick players.
Complex Terms and Conditions
Overly complex terms and conditions are an age-old trick when it comes to special offers, both offline and online. They rely on the fact that people don’t want to spend an hour scrolling through endless walls of text, and are often full of technical jargon to make them as hard to understand as possible.
In the case of crypto casinos, a bright and attractive banner will make the offer sound straightforward. But there will be endless small print full of all kinds of stipulations and clauses. And, important terms like wagering requirements, withdrawal limits, and game restrictions will often be deliberately hidden deep in the small print.
Some online casinos will even go as far as making it next to impossible to locate the full terms and conditions. For example, while a few major terms may be linked directly to the advert, finding all the information you need might involve a time-consuming search of the site and bouncing around between several different pages.
Real World Example:
BetChain has been criticized by players for its convoluted terms and conditions, particularly regarding its bonus offers. No terms at all are provided on the main promo pages, instead, there’s just a clickable ‘Get bonus’ tab which takes you straight to the account sign-up page. Unsurprisingly, players have reported confusion over the wagering requirements and unclear withdrawal restrictions.
Low Withdrawal Limits
Another common source of frustration among players is low withdrawal limits. These mean that, even if you’ve met any wagering requirements, you can still only withdraw a specified percentage of your bonus winnings as real cash/crypto. The remainder is typically locked away subject to yet more conditions. In reality, low withdrawal limits make bonuses far less valuable than they initially appeared. Limits will usually be particularly low for a cryptocurrency casino no deposit bonus.
Real World Example:
CryptoSlots offers non-cashable bonuses that may mislead players into thinking they have more money available for withdrawal than they actually do. For example, at the time of writing, the first deposit bonus was 111% up to $500, but the maximum withdrawal was limited to $5,000. While the bonus funds can be used for wagering, they cannot be withdrawn, reducing the overall value of the offer.
Non-Cashable Bonuses
Often referred to as ‘sticky’ bonuses, this is one of the most deceptive practices in the online fiat and crypto casino spaces. These are non-cashable bonuses that can’t be withdrawn, even after wagering requirements have been met. Instead, they are deducted from your total balance when you request a withdrawal.
Sticky bonuses can be a strange concept to wrap your head around, so let’s look at an illustrative example. Say you received a 1 BTC bonus, completed the wagering requirements, and won 3 BTC in total. But, when you go to withdraw, the original 1 BTC bonus will be deducted from your balance, leaving you with just 2 BTC that is withdrawable. In effect, the bonus ‘sticks’ to the casino and can’t be shifted.
Again, just like bonuses subject to low withdrawal limits, non-cashable bonuses are less valuable than they may initially appear - with most players understandably assuming they’ll be able to withdraw the full amount in their account.
Real World Example:
Betwhale, the crypto casino and sportsbook, includes a clause in its bonus terms and conditions stating: “All Deposit Bonuses available at Betwhale are for wagering purposes only, and so the body of a bonus cannot be cashed out. The initial bonus amount will be deducted upon the payout request.”
Unrealistic Wagering Requirements
As we’ve already discussed, even the best crypto casino offers are usually subject to wagering requirements, so it’s pretty much a fact of life in the space. But, while most casinos set wagering at between 30x and 40x, some have been known to set wagering requirements much, much higher - even over 100x - making them impossible to complete unless you’re already very wealthy.
Something else to look out for is that while most casinos base wagering on the value of the bonus, some base it on the value of the deposit + the bonus. This can dramatically alter the nature of the bonus. For example, if you had a 100% bonus of 0.5 BTC subject to 30x wagering, you’d need to wager 15 BTC, but if it was the deposit + bonus, you’d need to wager 30 BTC. Always check the full wagering requirements, including the wagering formula, before deciding to use any bonus.
Real World Example:
Crypto casino and sportsbook Betplay.io has very high wagering requirements of 80x. Furthermore, the wording of the terms makes it unclear whether the wagering is based on only your deposit, or your deposit plus your deposit bonus.
Evaluating Crypto Casino Bonuses
As we’ve seen, while many crypto casino bonuses offer players genuine value, it’s critical to thoroughly evaluate what’s on offer before jumping in. Here are some practical things you can do to avoid getting caught out.
Research Tips
Research, research, and then research a bit more. If you were going to make a big ticket purchase, like a new TV, laptop, or sofa, you’d probably do a fair bit of online sleuthing first - it’s normal these days. So, do the same before you commit a large sum of crypto to a casino bonus offer.
- Check several different casino review sites (go beyond the first page of Google for better balance)
- Read comments on player forums and discussion sites (Reddit and Discord are great)
- Carefully read the casino’s General Terms & Conditions, and standard Bonus Terms & Conditions (there are usually links in the footer)
- Read all the info provided specifically about the bonus offer you’re considering (the specific T&Cs linked from the promo banner and page)
If the crypto casino in question is new, check out the reputation of sister sites run by the same operator - most companies run several brands. You should find the operator information in the website footer.
Red Flags
Here are some common red flags that may indicate a casino bonus offer isn’t as great as it first looks:
- The bonus seems too good to be true or unusually big
- The promotional banner or page doesn’t have a link to specific terms and conditions
- Terms and conditions are vague, confusing, or incomplete
- Wagering requirements are higher than the average
- Wagering is based on the deposit + bonus amount
- You have a short time to complete wagering
- There are many game restrictions
- There are low withdrawal limits
- Bonuses are non-cashable or ‘sticky’
- The site has no licensing information
Consult Community Feedback
One of the best ways to get a truthful picture of any online casino and its bonuses is to get feedback from the player community. There are numerous player forums on casino review sites, and social media like X (Twitter) can also be a good resource. Look for feedback from players who have successfully withdrawn winnings from a bonus offer.
However, you should also keep in mind that many of those posting on forums and social media may have ulterior motives. Some will be casino affiliates trying to promote a particular casino site for their own financial gain, others will be casino operators trying to smear their competitors, and others will just be sore losers trying to get revenge on a casino.
Conclusion
In the world of online gambling, and crypto casinos in particular, bonus offers can be both a blessing and a cure. If you find a legitimate offer with a non-sticky bonus, transparent terms, reasonable wagering requirements, and realistic time limits, it can make your bankroll go much further. But, if you fall for a deceptive offer, you’re going to end up out of pocket and angry.
The key to staying safe and finding real value is paying attention to the details, staying aware, and doing your research. Connect with other players, use the informational resources available to you, and always, always read the small print. But, the two most important things to remember about crypto casino bonuses are; if it looks too good to be true it probably is, and never feel pressured into making rushed decisions. Check the small print, do the maths, and consider things carefully.
Finally, if you’ve got any crypto casino bonus offer experiences you’d like to share with us here at CoinBets.com, we’d love to hear from you.