High Risk Offers Warning
Reading Time: 5 minutes
Regularly you will come across offers such as the following:
- Deposit £100 get £100 bonus
- Get 50% bonus on your next deposit up to £50
On the face of it, these offers might seem appealing.
Who wouldn’t want free money after all?
But, there's a very crucial catch.
These offers will almost always come with very large wagering requirements. Plus, they usually use cash before bonus funds.
This means your entire deposit would be at risk when you attempt the wagering.
The casino knows that punters might not under the T&Cs, and they'll probably go on to lose all their deposit.
We call these high risk offers, because… as the name suggests, they are high risk.
For the vast majority of people, it is very important that you avoid high risk offers.
Big Wagering Requirements
Most casino offers on Team Casino have no wagering requirements at all.
We do post some bonus wagering offers.
But, there is an important distinction.
The offers we post will allow you to attempt the wagering without risking your own money. This is usually because the casino uses bonus funds before cash.
High risk offers come with similar wagering requirements, but the casino will force you to use your own cash to attempt it.
Consider an offer of ‘100% matched up to £50 with 40x wagering on the bonus.
If you deposit £50, the casino will match this with a £50 bonus.
You can only withdraw the bonus and any winnings once you wager £2000 (the bonus multiplied by 40). This casino will make you use your cash first, so you would be risking your £50 deposit when you attempt this wagering.
Very High Variance!
It is very unlikely that we will complete the large wagering requirements that the offer has.
So the bust out rate is very high.
Often you will lose your deposit and bonus 85%-90% of the time with these offers!
Very Big Bankroll Requirement!
You should have at least 100 buy-ins before attempting a high risk offer. This is because the potential to go on big downswings is massive.
If you were doing £50 deposit offers then you would need at least £5000 available in bankroll. From £50 buy in offers, it would not be unheard of to have an over £1000 downswing!
Not only is a big bankroll important, it’s also crucial to have the right mindset.
You might have a suitable bankroll for high risk offers, but do you have the mentality.
Could you remain disciplined and calm in the face of a £1000+ downswing?
Many people will never have a suitable mentality to complete high risk offers.
Advanced Knowledge Required
Alongside this, high risk offers need a significant level of casino knowledge.
You have to analyse offers, understand slot choices, stake sizing etc.
Get this wrong and the EV and variance can be significantly affected.
Cash Before Bonus
With the exception of a very small number of casinos (Electraworks Group – Party Poker/Casino etc) these offers will always use cash funds before bonus funds.
This means that, when attempting the wagering requirements on a bonus, your deposited money will be used first before the bonus is touched.
As a general rule, we recommend avoiding all high risk offers.
If you find an offer, and are in any doubt about whether it is high risk, or if you have any questions whatsoever, then please ask us!