What Should You Know About Casino Bonuses
Online casinos are set to be the future of the gambling industry. Statistics show that by 2025, their annual revenue will likely exceed $100 billion. There are many great features that these platforms have, including thousands of quality games by some of the world’s greatest game providers, numerous accepted payment methods, responsive customer support teams, impeccable security and the main topic of this article – online casino bonuses and promotions.
Thanks to bonuses and promotions, registered players at online casinos are able to potentially boost their winnings and/or play the featured games for real money without having to make a deposit. We are going to dive deep into the details of them and explain everything that you should know on this topic.
There are Two Types of Online Casino Bonuses
Registered players at online casinos will be able to claim two types of bonuses, depending on what the casino itself has to offer – deposit and no deposit bonuses. As the terms themselves suggest, to claim a deposit bonus, you will have to deposit funds to your casino account. A good example of a deposit bonus is a welcome offer, which rewards players after they make their first deposit at the site.
On the flip side, no deposit bonuses do not require you to make a deposit and allow you to win real money rewards. The two most popular no deposit bonuses are free spins and cashbacks. Free spins can only be used on certain slots, while cashbacks are bonuses that redeem some of your lost amounts over a certain period.
Online casinos have different ways of providing players with cashbacks. Some of them provide the funds as non-withdrawable cash that you must use to play the games, while some redeem them in the form of free spins. On some occasions, the casino might even provide you with a withdrawable cashback.
Welcome Offers Are the Most Popular Bonuses
Welcome bonuses are by far the most popular bonuses at online casinos. Why? Because they are the first bonus that players come across after they register. In most cases, welcome offers come with a match deposit bonus that has a maximum limit. Depending on the online casino, they might also receive free spins as well.
Some casino sites provide players with a bonus on their first deposit, but others might reward players on their first three or four deposits. It all comes down to the operator and its policies.
Apart from the welcome bonus, players can claim numerous other offers. We already mentioned free spins and cashbacks, so other notable picks are reload bonuses, tournaments and loyalty programs.
Loyalty programs are created with the purpose of rewarding the most loyal players at the casino. They contain several levels and to climb up the ladder, you need to wager real money on the featured games. The higher your level is, the better the benefits will be. Some of those benefits include higher withdrawal limits, faster withdrawals, exclusive bonuses, birthday gifts, priority customer support, better cashbacks, etc.
Terms and Conditions Are Extremely Important
Many players get caught up in the numbers that are shown in the bonuses and think that they are rewarding. However, it is not about how rewarding the bonus is, it’s all about how easy it is to claim it. That is determined by the terms and conditions.
The T&Cs share the details on how can you claim the bonus. That includes the minimum deposit amount, eligible games on which the bonus can be used, accepted payment methods for the bonus, country restrictions, bonus validity, as well as the single most important T&C – wagering requirements.
Wagering requirements state the amount that you need to roll over before being able to withdraw winnings made with the bonus. Since we mentioned the welcome bonus as the most popular casino bonus, we’ll use it as an example.
Let’s say that you just registered at an online casino whose minimum required deposit to claim the sign-up offer is $10. Once you read the terms and conditions, you see that the wagering requirements are set at x45. That means that you will have to wager a total of $450 before being able to withdraw the winnings made with the bonus.
Why $450? Simple. Wagering requirements are calculated by multiplying the qualifying deposit of the bonus, which in this case is $10, with the wagering requirements, which in this case are x45. Wagering requirements need to be met within the bonus validity period. So, if the welcome bonus is valid for 20 days, that means that you will have to wager $450 within that timeframe.
One tip that we can give you is to never claim bonuses that cannot be used on your favourite games because if you do so, you increase the chances of losing.