For the most part, there are no real downsides to the welcome bonus, but they do come with caveats to be met. These are usually pretty straightforward and reasonable at the best and most trusted online casinos, but sometimes the casino can make these requirements very much in the house’s favour. Sometimes you may only be able to use the welcome bonus on specific games such as specific online slot games, and if you aren’t a particular fan of the game on offer, then the bonus won’t be of any use to you.
You should always read the terms and conditions of a welcome bonus before you sign up. In particular, you should look at the wagering requirements; we will now say exactly a wagering requirement works. They are in place to stop players from simply depositing money, claiming a bonus, and withdrawing immediately. This would not benefit the casino if they allowed players to do this, including a wagering requirement to ensure they are providing a bonus to genuine players. Essentially, the wagering requirement will tell you how much you need to play before you can make a withdrawal. More than likely, you will have to wager the bonus you have claimed a fixed number of times. For example, if the wagering requirement is 10x and you claim £100, you would need to wager £1000 before making a withdrawal from the casino.
Check out the handy video below that explains how wagering requirements work, bare in mind this is a Canadian video, just in case, the currency is confusing.