Casinos, especially the ones operating through online sites, usually give out a lot of promotional offers to make the players play more and attract them to spend more time on their website. However attractive these promotions may be, they have certain conditions that bind the participants. These are mentioned in fine print, so you should read them carefully, and this article talks about why it is crucial to do so.
Common Promotion Loopholes
The most common promotional loopholes are also in the most common conditions that people tend to ignore because they take them for granted.
It is imperative to know the scope of the promotion to understand what all conditions it does not pertain to. For example, if a promotion says 50% off on the betting price, it may indicate fine print as to which games the promotion is limited to. The reason for checking out the scope is so that you do not go ahead with the wrong expectations like, in this case, if you want to play poker at the discounted price while it is valid only on non-card games.
This is a rather tricky area since several factors come into play. Even if you are playing a game and win it according to the scope, you need to be eligible for the promotion. For example, if a website requires you to be 18+ to be able to get double the prize money, they can ask you to prove the same. Similarly, certain competitions or promotions are valid to a single country only because another company sponsors them from the same country. A company functional in the US will not be interested in extending the promotional offer to Indians who play through the website.
Some promotions have special terms that you need to adhere to. While the basic terms need to be met in accordance with the website, certain specific conditions might restrict some of your actions. If a person eligible for double the prize money and clarifying the scope criteria does not meet a unique term, say paying through a specific payment mode, they will not be crossing the bare minimum to win the prize.
Betting requirements are a way casinos came up to prevent hit and run tactics. Essentially, the betting requirements state how much you have to play before being allowed to make a withdraw. For instance, if a casino is offering a matching deposit bonus, they will give you free money to gamble. Most commonly, matching bonus is 100%. That means they are doubling your deposit. If you deposit $200, you will get another $200 from the casino, for a total deposit of $400. So, why not withdraw that money and repeat the process at another casino? This is where betting requirements come into play. If the betting requirement is 20x, that means you have to wager your deposit 20 times before you can withdraw your winnings. In our example, that would mean you have to make bets in the total amount of $4,000 (the bonus you have received times 20). Only then can you transfer your money to your bank account.
Some unsavory casinos use this to lure inexperienced players, offering matching bonuses in a 200% or 300% range. Many people fall for this because they don’t read terms and conditions and get disappointed when they realize that betting requirements are capped at 50x or even 100x. That leaves them little to no hope of ever seeing a dime of their winnings.
Another way casinos use to keep as much of your money as possible is withdrawal limits. Casinos usually impose limits on two things, the amount and time. There is a minimum and maximum withdrawal amount you can make. Often, is capped by your deposit. There is also often waiting period before you can withdraw your winnings, making it impossible to take it out immediately. Casinos are hoping that by making you wait, you will spend at least some of it. These conditions are always listed in the casino’s T & C, and you can avoid a lot of anguish by reading them.
Casinos impose country restrictions for various reasons, mostly legal ones. Perhaps the offending country has some strict gambling laws they don’t want to follow or a banking system that is not entirely trustworthy. In some countries, gambling is simply prohibited and they don’t want to get caught in that legal struggle. The list of countries that are supported is usually a part of Terms and Conditions. Check whether your country is on the list before making an account and save yourself some time.
Why keep in mind the T&C?
Terms and Conditions hide the crucial condition that you may or may not read. Since there are a lot of technicalities, people tend to overlook this page, which allows companies to benefit from the attraction of the crowd and increase in revenue. However, mere participation does not guarantee anything, which is where they tend to convince you to bet online on sites like eaglebet.com luring you for a big prize while giving you something consolating when the time comes.
Reading the terms and conditions allow you to exercise your right to knowledge over what your relevance in the competition is, who is organizing it, and everything else otherwise sandwiched in small font sizes to avoid too much attention. They increase your chance of winning as well.
Reading and understanding Terms and Conditions can be a crucial part of your casino experience. They will always be written to benefit casinos more than to benefit players, but at least if you are familiar with them, there won’t be any nasty surprises down the line. It is important to understand that once you have made your account, you have agreed to the casino’s Terms and Conditions. Any dispute that may arise will be based on that. You can’t claim ignorance, because you have agreed to them. By reading Terms and Conditions, you at least know what you are getting into.