Each of the online casinos in New Jersey has a different way of handling their new customer promotions. I recently published details of the signup bonuses at Betfair, Borgata, and 888.
Today I am looking at Virgin Casino, and their offer of up to $100 Real Cash for new customers.
The Virgin Casino offer is a loss rebate of up to $100 on your first deposit as a new customer. While the rules for the offer are fairly concise, they use several confusing terms, such as “true drop” and “total rewards credited”. I hope to give you an explanation without all the jargon.
To qualify for rebate money under this offer, you must:
- Make a first-time deposit at Virgin Casino of at least $10.
- Play. Once you make your first bet, you start a seven day qualifying period.
- Lose! Yes, this is a loss rebate. Without a loss, there won’t be a rebate. I will explain why this is still valuable in a moment.
There are three possible outcomes:
- If at any time during the seven days, you lose 90% or more of your initial deposit, you qualify for a bonus equal to the deposit, up to $100.
(This is a good reason to not deposit more than $100!)
- If your loss never reaches 90% of the deposit during the seven day period, but you have a smaller loss at the end of the period, your bonus is equal to your loss, up to $100.
- If your loss never reaches 90% of the deposit during the seven day period, and you either break even or have a profit at the end of the seven days, you will not qualify for a bonus.
The rules state that the rebate will be credited within 3 business days after the end of the seven day period. When I played, my rebate was much quicker than 3 days. In fact, it was instant. I got my bonus immediately when my bonus went under 10% of the original deposit. When I checked my email, I had a message telling me that I had gotten the bonus. Read my full experience below.
Why a Loss Rebate Still Has Value
Many players have a tough time seeing the value in loss rebates. After all, if I have to lose to get the bonus, what good is the bonus?!
You should instead view these kinds of offers as a free roll. You can take a shot at winning something, and if it doesn’t work, you get your money back. To maximize the value of the bonus, you should deposit $100, and don’t be timid with your bankroll. Play it up. If you win, great! If you don’t, wait for the rebate.
My Personal Experience With This Bonus
As planned, I registered as a new player at Virgin this week, and I deposited $50. (When I played, this rebate maximum was $50. It has since been raised to $100.) It lasted a while, but my balance slowly dropped lower and lower. As soon as my balance dropped under $5, I got an instant $50 added to my balance. So, there was no waiting involved at all. This all happened within a couple of hours of my initial deposit.
With my newly recharged balance, I called it a night. In the morning, I had another $5 added to my balance from another bonus promotion. When I started play on the second day, my luck was better. I played mostly blackjack, betting from $10 to $40 for a short while. I was planning to either lose it all, or get my balance to $200. Fortunately, I hit $200 pretty quickly.
That’s not bad at all. With the help of the bonus, I turned what would have been a $50 loser into a $150 winner instead. I submitted a withdrawal request, and my transaction was processed within 5 minutes.
It doesn’t always work out that way of course, but this time the loss rebate worked like a charm!