Most Important Terms For Ontario Online Casino Players — Make Sure You Can Cash Out

Online casinos have their own set of terms and definitions. Even experienced bettors can use a reminder of what common casino terms mean. Knowing how to bet and how to manage your casino play is crucial. With the right tips and guidance, it’s possible to fine-tune your online casino approach and establish techniques to make the most of your time and money.

With the upcoming launch of Ontario online casinos, it’s especially important to know how to get your winnings out. This guide will help you do just that. 

Online Casino Money Terms

Bonus

The sign-up bonus, welcome bonus, deposit bonus, and no-deposit bonus are all the most popular types of bonuses online. Casinos will often try to attract and keep new players. A bonus is available as a credit to play games of your choice. Sometimes it’s in the form of specific credits, such as “free spins” that apply exclusively on slots.

To get the bonus in the first place, there’s usually one of two ways to go about it. Either you get a bonus for depositing real cash a deposit bonus or you get a bonus by entering a code or visiting through a link. Sometimes online casinos will give you a bonus just for being a loyal customer or logging on. But for first-time players, the sign-up bonus is the one to look out for.

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Deposit

A deposit is when real money is deposited into a player’s online casino account in order to play games. Most Ontario online casinos will allow you to deposit using your bank account, credit card, or by adding money to a special online casino prepaid card. A deposit bonus applies if you make a real money deposit. 

Cash Out / Withdraw

Cashing out or withdrawing is the act of withdrawing real money from an online casino. If you signed up with a welcome bonus and have used that to play, there are usually requirements that come into play before you can withdraw real money. However, if you don’t have bonus funds in your account, cashing out is usually straightforward.

If the online casino is legit, cashing out can be done using several methods. The most popular is bank transfer, which can take up to two to four business days. Some online casinos have partnerships with land-based casinos so it is also possible to withdraw cash in person at a casino cage. In all cases, cashing out requires the name and identity of the withdrawal method to match the name and information the casino has registered for the player’s account. 

Wagering Requirements

Also known as playthrough requirements, they are a common feature of welcome bonuses. Online casinos offer welcome bonuses because they want active users. If they allowed anyone to sign up and then withdraw the bonus funds right away, they would quickly go out of business. 

Playthrough or wagering requirements mean in order for your bonus winnings to be available, you must place the required amount of bets. Often they are in terms of 1x, 5x, 10x, and so on. A 1x playthrough is the most favorable, meaning a player only has to bet an equal 1:1 amount of the bonus.

On the other hand, if the playthrough requirement is 10x,  you must bet the amount of your bonus 10x over. So if the welcome bonus was $20, you must bet $200 before you can withdraw any real money. Read the terms and conditions of your bonus offer to see which online casino offers the best deal.

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Online Casino Slot Terms

Payline

A payline is the combination of symbols on a game that signal a win. So for example, in the popular slot game Buffalo, if you get a pattern or line where Buffalo symbols line up, that could be a winning payline.

Jackpot

A jackpot is the biggest prize that a casino offers. There are also progressive jackpots, which increase over time. Often these are a good chance to really supercharge your wins at a slot.

Reel

The horizontal columns of video slots where all the symbols are located are referred to as reels. The reels begin spinning once you press the spin button.

Free Spins

Free spins are often a part of an online casino welcome bonus. These spins are a certain number of free spins on a particular game or any slot game of your choice. Unlike casino credits, for example, which can be used on any game, the free spins are for slot games only.

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Online Casino General Terms

Bet Max / Bet Min

When players press the Bet Max button, the maximum number of credits deposit on the bet for all active paylines. In contrast, the Bet Min button sets the bet to the smallest amount possible.

Loyalty / Reward Scheme

Good online casinos will have a kind of loyalty program where members can earn free credits, real in-person rewards at their land-based partner, and even real merchandise and gift cards in their “bonus store”. The more you play, the more rewards you get. At BetRivers, for example, iRush Rewards is the loyalty scheme and collecting points will move players further up the membership tiers.

Tournament

In tournaments, you are playing against other players for the top spots on a leaderboard. 

House Edge

The house edge is the term used for the advantage that the casino has over the players in any given game. 

RTP (Return To Player)

The RTP calculates how much a game will pay back to a player over a large number of games. A good RTP is around 96% or higher. This translates as the particular game will pay back $96 for every $100 put into it by players. This payout percentage is calculated over a huge number of spins, so for the average player, much is still up to chance.

Lobby

The lobby is the name given to the place on a given online casino website or app where all the games are located. This is usually what displays when you visit a site. From there you can search for your favorite game or see what games are popular with other players. 

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.