Risk or Reward? Which Caesars Online Casino Bonus Will You Choose?

Updated on April 26, 2021
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Caesars Casino & Sportsbook has come up with an offer you can’t refuse. But which online casino bonus will you choose?

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Every time you play online, you have difficult decisions to make, like how much money you are willing to risk. Or, if you are winning, at what point you will decide to lock up your winnings rather than keep playing and try to win more?

If you’re a slot player, do you prefer a low variance game that makes small payouts frequently? Or do you prefer the thrill and excitement of progressive jackpot slots or other high variance games in the hope of a huge payday?

The bonus that Caesars is currently offering takes these differences among players into account in the best way possible. You get to choose which of two possible bonuses you prefer. Either way, you will receive a bonus in return for your deposit.

That much is guaranteed. But are you willing to gamble on a mystery bonus in the hope it will be big although it could be very small? Or would you rather simply take the 100 percent bonus up to $25. It’s your choice. Risk or Reward?

How the Caesars RISK or Reward offer works?

This promotion is open to all Caesars Casino & Sports registered players. It started on Fri., April 23 and continues until 11:59 p.m. today, Mon., April 26. So, you will have to hurry because today is the last day.

As long as you make a deposit of $10 or more during the promotion period, you’re good to go, and Caesars has a bonus waiting with your name on it. But first, you need to pick which of the two bonuses you want.

  • Choose RISK to receive a mystery bonus between $10 and $1000 in bonus play.
  • Choose REWARD to receive a guaranteed 100% bonus match on deposits up to $25.

You can only claim this offer once, and you cannot claim both bonuses. You must pick one or the other, and once you do, your choice is final. Caesars won’t let you change your mind and switch to the other bonus later.

How to get started

If you wish to participate, here are the easy steps to you need to follow:

  • Log into your Caesars Casino & Sportsbook account before 11:59 p.m. on Mon, 4/4/21.
  • Click on “My Account” and then on “My Bonuses & Offers.”
  • Enter the code RISK or REWARD based on which bonus you prefer. Then click on “Get Details.”
  • Locate your Risk or Reward Bonus Match offer under “Available Bonuses.”
  • Click on “Deposit.” Then make your deposit* and claim your bonus.

*Caesars lets you choose from a wide variety of safe and secure deposit methods. However, in this instance, as in all other deposit match bonus offers at this casino, avoid making deposits at the Caesars casino cashier’s cage in Atlantic City or via PayNearMe because then you won’t get a bonus.

If you choose REWARD, you will receive your guaranteed 100 percent match bonus immediately. If you choose RISK, you will have to wait for the results of the random drawing to see what your bonus is.

Of course, you can make an additional deposit and/or play in the meantime while you’re waiting, but neither will have any effect on the size of your bonus. And until you actually receive the bonus, your play won’t count towards clearing it. Therefore, your best bet is to wait until you get the bonus and know what your play requirements are.

How much should you deposit?

That depends on which bonus you choose. If you select the REWARD bonus, you should deposit exactly $25–no more and no less. It’s a 100% deposit match bonus capped at $25, so be sure to grab every penny of it. On the other hand, if you deposit more than $25, it ceases to be a 100% bonus.

If you select the RISK bonus, however, you should deposit only the minimum of $10. That way, even if you only receive a $10 bonus, it is still a 100% bonus. On the other hand, your bonus could be as much as $1,000!

Since your odds of getting a big bonus depend entirely on a random drawing and have nothing to do with the size of your deposit, unless you need extra money in your account to make your usual size bets, limit your deposit to the absolute minimum.

Bonus money prizes up for grabs in the drawing

The following table shows the various amounts of bonus money you can win in the drawing. The Caesars website doesn’t specify exactly when the drawing will take place and how soon thereafter the prizes will be distributed. But you can assume you won’t be kept waiting in suspense long.

As you can see, the prizes range from $10 all the way to $1,000. All of the prizes are in the form of bonus money credited to the player’s account. No player can win more than one prize. The exact odds of winning a particular prize cannot yet be determined since they will depend on the total number of players.

However, this much should be clear. The overwhelming majority of the participants will only get a small bonus, but for a lucky few, the drawing will pay off big time.

Mystery Bonus Prize Matrix:

Drawings Prize
1 winner $1,000 online casino bonus
5 winners $500 online casino bonus per player
25 winners $250 online casino bonus per player
50 winners $100 online casino bonus per player
100 winners $50 online casino bonus per player
500 winners $20 online casino bonus per player

All remaining players who have made a qualifying deposit and have selected the RISK bonus will receive a bonus of only $10.

Bonus money wagering requirements

Regardless of which of the two bonus offers you accept, the wagering requirements to clear the bonus are the same.

You have up to seven days from the time you receive the bonus to clear it. The amount you need to wager will depend on entirely on the type of game you choose, as indicated below.

  • Slots: 5x bonus
  • Video Poker: 10x bonus
  • All other online casino games: 25x bonus

Sports bets don’t count.

Prior to clearing the bonus in full, the bonus, your deposit tied to the bonus, and any additional bonus-related winnings will remain locked into your account. However, as soon as you complete the required wagering, as long as it is within the allotted time frame, all of this money, or whatever is left of it, will become available to you for withdrawal.

Canceling the bonus, or any attempt to withdraw unavailable funds prematurely or failure to complete the required wagering on time will result in forfeiting both the entire bonus and any additional winnings resulting from it.

The bottom line: Why the Caesars Online Casino RISK or REWARD bonus is a great offer

This offer is similar in concept to the Naughty or Nice bonus offer that Caesars has been posting around Christmastime.

Actually, regardless of which of the two bonuses you take, Caesars is being very nice in giving you a bonus, even if it’s only a small one, in return for the very small deposit it is asking from you.

On the other hand, if you follow my advice to deposit the maximum for the guaranteed 100% bonus and the minimum for the mystery bonus, it’s you who is being naughty, or at least sneaky. But trying to get as much bang for your buck is what smart online casino gambling is all about!

This is a fun promotion that every player can afford, so if Caesars Online Casino is one of the NJ gambling websites where you like to play, don’t let this excellent opportunity to get a guaranteed bonus get away from you.

Furthermore, Caesars has dropped its old method of making the wagering requirements for clearing bonuses based on the bonus and deposit combined. Your deposit is no longer factored into the wagering requirements at all. And if you clear the bonus with slots, you only have to wager the bonus 5x, after which you get to keep both the bonus and your winnings.

If you end up with a small bonus of $10 to $25, you’re still getting great value based on the small size of your deposit. Also, most players should find clearing this size bonus in just a day or two a piece of cake. Of course, if you win as huge bonus like $500 or $1,000, the wagering requirements to clear it go up considerably. But you have a whole week to get it done.


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