Can You Cash Out With Ontario Online Casino Bonuses?

Online casino bonuses in Ontario will all come with certain conditions for players to cash out the bonus money. A popular way for the online casinos to make sure players stay playing is to impose playthrough requirements on the bonus. Finding out what kinds of bonuses are available, what is a playthrough requirement, and other details are sometimes confusing. Still, getting the most out of your online casino welcome bonus is possible with the right tools and this guide.

Ontario Online Casino Bonuses And How They Work

Ontario online casinos offer players a number of perks for signing up for their service, and the welcome bonus is the most common. This bonus can come in the form of free cash or credits, or for slot games, free spins. These are the most common types of bonuses:

  • Deposit Bonus: A bonus that matches a percentage of your first deposit of real money. For example, a 100% deposit bonus would mean if you deposit $50 the casino would match it by giving you $50.
  • No-deposit Bonus: A bonus that gives you free credits or spins without you having to deposit any money at all.
  • Free play or Risk-free bonus: A bonus that gives you back any money you lose during a specified period, usually 24 hours after signup. It’s “risk-free” in that you can play without having to worry about your losses.

The last isn’t really relevant here since any losses you sustain will be returned to you in the form of betting credits. That means you can’t withdraw them for cash, but you can use them to play.

Terms and conditions for deposit and no-deposit bonuses are what players should look out for with online casinos. They are made so that players don’t just sign up for a casino and withdraw money without actually playing.

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Activating An Online Casino Bonus

Activating a bonus is usually done via one of two methods. First, you can copy and paste a bonus code and put it into the specified box on the casino’s website or app. Second, use a dedicated link from a trusted site of your choice, such as Toronto Sports Media.

That’s not all you have to do, however.

Another common practice online casinos do is to make the bonus offer “opt-in” only. It’s usually as simple as navigating to the bonus section of your account and clicking the opt-in button for the bonus. Be sure to do this so that your bonus is activated and applied to your account.

Playthrough Or Wagering Requirements

In theory, if everyone were to cash out their bonus it would be as easy as signing up and withdrawing free money. Casinos are looking to keep you as a player, so cashing out isn’t that cut and dry. There are a number of terms and conditions attached to every casino welcome bonus.

The top condition that casinos put in place is the playthrough requirement. Here is what you need to know about it.

The playthrough requirement is the number of times you must wager your bonus before you can withdraw. This usually applies to your full deposit and bonus, not just the bonus funds.

For example, a 5x playthrough requirement means you must wager your deposit and bonus five times before withdrawing. If you deposited $100 and earned a 100% deposit bonus, you’d have $200 in your account. The 5x playthrough requirement would mean you have to bet $1,000 before you can withdraw.

Once you’ve bet the entire amount you have completed your playthrough requirement and anything you win can be withdrawn.

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Other Bonus Cash Out Requirements

It’s understandable that you’ll want to play through your bonus as fast as you can. Before you do, stop to see what games your bonus applies to. Often, the casino will not apply the bonus to certain games. You may find that your chosen online casino has made some games exempt. Figure out which games you’ll be playing to have the best strategy.

Other terms that are common are the “cap” on the match percentage for a deposit bonus. This is the upper limit on what the casino will match for your first deposit. A 100% match deposit sounds great, but if the cap on what the casino will match is $5 it’s not really worth it. Hefty caps like $100 or $200 are what you’ll want to hold out for.

How To Find Information On A Bonus

Looking for the playthrough requirement and other “fine print” on a bonus doesn’t have to be hard. While reading the terms and conditions on a casino’s website may sound dull, it is, however, critical. There are a few other places you can look at as well.

Sometimes a casino has a Frequently Asked Questions section where it breaks down how bonuses work. A good place to check is also the Bonus tab of your account. If you have opted into the bonus, there will usually be details on exactly what games it applies to and the playthrough requirement. 

If you’re not happy with the terms, there’s no need to leave the casino either. You can always choose to opt-out of a bonus as a last resort if you’re no longer interested in using it. That way you can have access to any money you deposit right away and if you win you can cash out at any time you choose.

About the Author

Fana Colette

Fana is a writer with a background in the fast-paced newspaper world of international journalism. Her experience in the legal field means she has a huge interest and passion for gaming legislation. When not keeping up with the latest news, you can find her sailing or swimming at the closest beach.