Tips to Turn Casino Bonus to Real Money

Written by:
Mike Fatouros
Fact checked by:
Alex Windsor
Updated:
December 13, 2023

Tips To Convert Casino Bonus Into Real Cash

Casino bonuses are almost always non-withdrawable. You must clear wagering requirements and other T&Cs before you can cash out any winnings acquired via casino bonus deals. The more extravagant the offer (the higher the bonus amount), the longer it is going to take you to clear those playthrough rates. Despite this, there is still a way to turn casino promotions and welcome bonuses into cold-hard cash – and withdrawable cash, no less.

We’re going to guide you through the process of claiming trusted and fair casino bonuses and using them in a way that will make it easier for you to bag a withdrawable win. What we’re talking about certainly isn’t impossible. Join us as we explain everything you need to know in our step-by-step guide to turning casino bonuses into real cash below.

Step 1: Start by Reading the Bonus Terms and Conditions

Firstly, the different bonuses you can claim can significantly influence the trials and tribulations you may face when withdrawing your winnings. It isn’t necessarily the value of the casino bonus that’s the issue – it is the terms and conditions attached to it which can prove crucial. You should always read a casino’s bonus T&Cs before you claim any offer.

Wagering Requirements

Five key things to look out for include:

  • Low wagering requirements of 30x or less: The lower these happen to be, the quicker you’ll clear playthrough rates and get to withdraw any winnings. You need to wager your bonus money a number of times before you can withdraw real money. This is known as the wagering requirement.
  • Decent win and withdrawal caps: Given that you’re going to have to keep wagering to clear the requirements, you’ll want to be able to win significant sums and be able to cash out most, if not all, of those winnings.
  • Good Game Eligibility: You’ll want to use your casino bonus or free spins bonus on casino games which work for you, not sub-par options supported by the online casino. Furthermore, you’ll want to check that your stakes count as close to 100% towards those rollover rates. Slots should always count 100%.
  • Decent Expiration Dates: Some bonuses have very short shelf lives. If you claim a sizable offer, you’ll want time to clear the wagering requirements before the casino bonus expires and you lose any winnings you’ve acquired with it.
  • Wager-Free Bonuses: We always recommend these if you can get your hands on them. Wager-free bonuses are casino bonus offers which come without wagering requirements. Naturally, they are rare, and because you can cash out anything you win immediately, they tend to be limited in terms of the number of spins or the amount of casino bonus cash they can offer you. They may also be tied to certain games, limiting how you can use them. Still, free withdrawable bonus money right from the start is not to be sniffed at.

Watch Out for These Terms with Casino Bonuses

There are also a couple of things you should avoid when claiming online casino bonuses. Negative terms include anything referred to as Sticky Bonuses (they can be deposit bonuses). While these ensure that you play with the house’s cash, your casino bonus is always trapped in the online casino and cannot be withdrawn.

Make sure to avoid high playthrough rates and never claim an online casino bonus with a wagering requirement of 50x or higher. Avoid claiming bonuses with a low maximum bet, win or withdrawal limits that expire quickly or free spins, which are played on slots with just ten lines or less.

Step 2: Pick the Right Casino Bonus for You

After reading the terms and conditions, it’s worth making sure that you are eligible to claim a bonus offer. There’s nothing worse than claiming an offer and realizing later that you aren’t eligible to receive it (or anything you’ve won).

Therefore, be sure that you’re playing casino games at a legal and certainly licensed online casino and that any promo code you are required to use has been entered correctly. If everything matches up, then go ahead and sign up for the online casino in question using the e-form found in its lobby.

Deposit Bonus Rules

Consider These Offers

If you want to save yourself trouble, then we’ve got a host of top and reputable online casinos you can join right here. Our team has put together a reliable selection of trusted, licensed, certified, and safe casinos with fair bonuses and promotions that have just the sort of terms and conditions you’ll want to turn bonuses into real cash prizes.

Some of our top-rated online casinos with great bonuses include the following sites:

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Visit BetMGM.com for Terms and Conditions. 21+ years of age or older to wager. MI, NJ, PA or WV only. Excludes Michigan Disassociated Persons. All promotions are subject to qualification and eligibility requirements. Rewards issued as non-withdrawable site credit, unless otherwise provided in the applicable Terms. Please Gamble Responsibly. Gambling Problem? 1-800-270-7117 for confidential help (MI), 1-800-GAMBLER (NJ, PA & WV).
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Visit BetMGM.com for Terms and Conditions. 21+ years of age or older to wager. MI, NJ, PA or WV only. Excludes Michigan Disassociated Persons. All promotions are subject to qualification and eligibility requirements. Rewards issued as non-withdrawable site credit, unless otherwise provided in the applicable Terms. Please Gamble Responsibly. Gambling Problem? 1-800-270-7117 for confidential help (MI), 1-800-GAMBLER (NJ, PA & WV).
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Step 3: Compare Your Available Gaming Options

Now, let’s get back to the bonus itself. Now that you have your online casino bonus, what will you use it for? Most internet casino bonuses can be used to play slots, but that doesn’t say much. If you want to use a bonus on live casino games, you may need to claim a casino bonus designed explicitly for those games.

After finding the types of games you can use your bonus on, it is time to do some calculations. You’ll want to weigh up the playthrough rates of the offer and its limit and compare those with the volatility, RTP, house edges, and paytables found in each game. There is no exact formula to follow. You’re just looking for a game that is fun to play and offers you value for money compared to your bonus terms.

Additional Information

The following are key things to consider when wagering on games:

  • Only play slots with RTP rates of 95% or more.
  • Avoid games with buy-a-bonus features; these don’t count to the playthrough.
  • Don’t wager on side bets.
  • Play games for free first, using demo versions on sites to understand better how they work before you bet your online casino bonus on them.
  • Consider slots that aren’t “recommended” by the casino. Casinos usually recommend games that benefit them. Read reviews to discover unique games not recommended by the casino, as they may be more beneficial to win real money.

Pro Tip: The games usually restricted on one casino are the best to play at sites that don’t place the same restrictions.

Top Games for Bonus Wagering and Clearing a Wagering Requirement

When clearing casino bonus wagering requirements, it’s worth noting that not all eligible games count equally.

Slot games always count 100% towards those requirements. If you bet $1 on a slot, it will count as $1 cleared off the total playthrough sum. However, some table games may only count 50% ($0.50 for every $1 wagered) or less.

There are also games that don’t count at all. Check your casino bonus terms and conditions to discover what game-weighting terms are in place. Obviously, the higher each stake counts towards clearing the rollover rates, the better.

Step 4: Wager with Caution & Consistency

Now, how can you turn that bonus into a balance? It all hinges on your bonus bankroll, or rather, how you spend it. It is essential to stay focused, no matter what size online gambling bonus you claim. Just because you’ve claimed $1,000 in bonus money doesn’t mean you should splash $100 a spin on a so-so slot.

Try measuring your wagers against the type of game that you’re playing. High-volatility slot games pay less frequently but offer more significant wins, while low-variance slots pay regularly but with smaller prizes. Make your bonus balance last.

Ideally, you’ll want to play as many spins/hands as you can, as every bet you make gets you that much closer to clearing your wagering requirements. You’re more likely to stay in the game longer if you wager smaller sums rather than trying to clear the wagering requirement by splashing the cash.

Appropriate Wager Per Gaming Category

What amount of money is suitable to bet on each game? That’s ultimately down to you. However, for beginners, there is a reasonable pattern to follow. If you’re playing slots, start with minimum bets. We’re not talking about $0.01 per spin here, but a minimum stake with all lines active.

For instance, if your slot has 25 lines, a reasonable bet would be $0.25 a spin ($0.01 per line). If it features fixed stakes and paylines aren’t adjustable, choose a stake which gives you value for money. Some Megaways slots, for instance, while highly volatile, can offer you hundreds of thousands of ways to win for just $0.20 a pop.

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If you prefer to play table games and other titles, we recommend that you stake at most $1 a hand/game. Video poker games can be played for anything from $0.25 to $1 a pop. The more assured you are of landing a win (if there is a low house edge, for instance), the higher we’d bet. When choosing suitable stakes for wagering, try to make your balance last as long as possible rather than throwing it all on black for an outsider’s chance of success.

Step 5: Meet Withdrawal Requirements

There is one last thing to consider before you can take home your winnings. Have you read the withdrawal terms and conditions? Yes, each online casino also carries these. Assuming you’ve cleared any outstanding wagering requirements on any bonuses claimed, then for the most part, they should consist of these three terms:

  • Min/Max Withdrawal Limits: You’ll need to make sure that your withdrawal falls somewhere within this limit. Ideally, you’ll want to see LOW minimum withdrawal limits and HIGH maximum withdrawal caps.
  • Verification Process: Also known as the KYC (Know Your Customer) step, this process involves providing identity documentation to your casino. It’s mandatory at all safe and trusted sites. Failing to do so can see your withdrawals held until the process is complete.
  • Withdrawal Fees: This is something you’ll want to avoid, as it can seriously eat into your profit. As online casinos may require you to use the same method for both deposits and withdrawals, consider which payment method you use before you deposit for the first time. That should be one with low (ideally no) withdrawal fees.

Cashing Out Your Bonus Winnings

As touched on, you’ll want to ensure that you try to use the same payment method for both deposits and withdrawals. Typical withdrawal options can include credit/debit cards, cryptocurrencies, e-wallets, and bank/wire transfers. Cheques may also be offered, but there are better options. Prepaid vouchers may be used to deposit but seldom appear as withdrawal options.

Payment Providers

You’ll also note that each payment option has its own transaction times, and these can vary from a few hours to 1-2 days for e-wallets and cryptos and up to 3-10 business days for card and transfer options.

A couple of things to remember:

  • No deposit bonuses usually require a verification deposit so that you nominate your withdrawal method and verify it before cashing out.
  • Some bonuses come with max winning caps – consider these based on your original deposit size. For instance, claiming a $10,000 welcome bonus when the maximum withdrawal limit from bonuses is $15,000 is not recommended.

What’s Next?

Using the casino’s free money to transform a welcome bonus into a real, withdrawable cash prize is undoubtedly possible. As mentioned, it all hinges on the bonus you claim, the T&Cs attached to it, and how you spend it. If you’re eager to give it a go, the next thing you need to do is find somewhere to play.

Head over to our trusted online casinos to get a leg up in that department. Each of our casinos has been thoroughly reviewed by our experts and carries just the types of deposit bonuses and promos you need to convert “free bonuses” into “free money”.

Make sure to cash out cleared winnings regularly and go for the next casino bonus – there is no better way to tip the house edge in your favor.

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Visit BetMGM.com for Terms and Conditions. 21+ years of age or older to wager. MI, NJ, PA or WV only. Excludes Michigan Disassociated Persons. All promotions are subject to qualification and eligibility requirements. Rewards issued as non-withdrawable site credit, unless otherwise provided in the applicable Terms. Please Gamble Responsibly. Gambling Problem? 1-800-270-7117 for confidential help (MI), 1-800-GAMBLER (NJ, PA & WV).
Promo Code: GAMBLEUSA
Visit BetMGM.com for Terms and Conditions. 21+ years of age or older to wager. MI, NJ, PA or WV only. Excludes Michigan Disassociated Persons. All promotions are subject to qualification and eligibility requirements. Rewards issued as non-withdrawable site credit, unless otherwise provided in the applicable Terms. Please Gamble Responsibly. Gambling Problem? 1-800-270-7117 for confidential help (MI), 1-800-GAMBLER (NJ, PA & WV).
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Mike has been reviewing, testing, and playing at sweepstakes casinos since they first appeared in the US. He is the person to follow and consult on everything sweepstakes casinos, from how to play, legal issues, and games analysis to making the most of each platform’s bonuses. If a new sweepstakes casino or sweeps coins bonus appears in the market, Mike will be the first to tell you about it.

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