A lot of money goes into the online casino industry. Billions of dollars are wagered in online casinos around the world every year. And where there is a lot of money involved, there is a real chance of fraud or theft. In land-based casinos, there is a chance of robbery, but in digital casinos, there are completely different types of fraud and theft. A well-known problem within the online casino industry is bonus abuse. A seasoned player has probably been guilty of it or at least fantasized about the possibilities. Not infrequently we hear from players that they are all too eager to hurt the casino, physical or online. Assisted by the prevailing thought that the casinos themselves steal money from players.
But what do we mean by bonus abuse and is it useful to do so? In this article, we explain everything you need to know about bonus abuse. Want to know more about online casinos? We recommend the Veritop site, where you can find reviews and useful information to both avoid making mistakes and tips on online gambling.
What do we mean by bonus abuse in an online casino?
Online casinos try in their own way to attract customers to them, and on the other hand they try to retain their existing customers. For this purpose, the online casino industry has come up with something. Existing and/or new customers can be rewarded in various ways the moment money is deposited. And in some cases without even doing anything for it. Back to depositing customers for a moment. The moment certain requirements are met an online casino may offer an extra reward. Usually in the form of money or free spins on a video slot. For example we regularly see online casinos that give a 100% bonus up to a maximum of €100. This means that you can get up to €100 extra by depositing €100.
Sounds like a good deal right?
But nothing goes for free. Online casinos also have to make money and never just give away free money. Such a reward almost always has to be wagered. Often this number of times is somewhere in the range of 25-50 times the bonus money obtained. So if you “got” $100, then depending on the online casino, you must have wagered between $2500 and $5000 in order to cash out the bonus.
Register at online casino vs ‘pay n play casino’
You can divide online casinos into two categories: online casino that require registration and online casino that do not, commonly known as “pay n play casinos”. Because of the strong regulation of most online casinos, it is necessary for a player to identify himself – in most cases – when making a withdrawal. This identification check ensures that players are restricted to playing with one account. Of course, it is still possible to open multiple accounts, but the same address cannot be used for that purpose in combination with the identity of that person. There are therefore cases of players using false documents to open multiple accounts.
With a “pay n play casino” there is “no such control,” making these casinos much more susceptible to bonus abuse. Especially when it comes to this type of casino that only uses cryptocurrencies. We know that you can pay virtually anonymously. Online casino can therefore not check if the same person is playing with multiple accounts and therefore may be guilty of bonus abuse.
Bonus Requirements at Online Casino
As described above, most casino bonuses must be played through. The majority of players do not manage to cash out. The first reason is that these bonuses are often difficult to play through or they have exceeded one of the bonus conditions. However, there are smart players who only accept bonuses which they know can be cashed out. They calculate exactly how much money needs to be wagered and what the expected value is, and thus the possible wins or losses. Moreover, a handful of smart players will ensure that a bonus is played in conjunction with other promotions to ensure that they can get even more out of their money. This is the kind of player casinos are waiting for, while they are not actually doing anything wrong. It’s different for players who cooperate.
Collaboration on Online Casino
Collaboration between players can take place in a number of ways, but one of the most common ways is chip dumping, also known as chip dumping. This takes place in poker games, where one player purposely loses his or her chips to another. And then, when both players are playing with a welcome bonus, they can easily round up money without it hurting them. At the end of the poker game, they share the spoils.
Saving Bonuses on Online Casino
But there is more, because players are getting smarter. If you ever watch live streams, you will see that certain casino streamers sometimes accumulate bonuses. Not welcome bonuses, but in this case free spins when playing video slots. This is because with most games if you close them before the ‘free spins’ start, they can be picked up at a later stage. So you can hit a bonus and have it play a few days later. Coming back to a welcome bonus, which gives you extra free ammunition to collect bonuses (read: freespins), you can make a new deposit as soon as you have run out of money. And at the moment you have deposited money again, you start the ‘freespins’ you managed to get in the previous session, with bonus money. Sounds like a good plan, but online casinos know this trick too.
While pay n’ play casinos benefit from the ease with which players can enjoy the game, there is of course the chance that they will attract malicious players. Online casino, of course, have systems in place to detect certain players. However, there are tricks to circumvent this, for example by using a VPN.
Although it may seem like we are preaching about cheating, it is only to point out what is possible. We have this knowledge, but this also means that online casinos are aware of it. We would like to advise you not to engage in these practices. Sooner or later you will be found out. And that could mean having your accounts closed. And that’s something you don’t want.