Millennials highly appreciate online casinos. Unlike the land-based casinos, the online ones offer convenience, variety, fast and delightful gameplay, and, above all, bonuses.
What are casino bonuses? What are the types? How do they matter, if at all? Is the bait worth taking? What are the wagering requirements? Let’s answer all your questions, one at a time.
Casino Bonuses Defined :
Casino bonuses are money-saving perks. As a standard practice, iGaming platforms offer bonuses to attract new bettors and retain the existing ones. Staying competitive is the primary goal for online casinos, and bonuses are a proven way to achieve it. Your bonus options can be a free spin, on-site cash or any other incentive that inspires you to sign-up and bet. Most come with a sell-by date. Once the promotion period is over, you cannot redeem them. Plus, the bonuses are subject to certain wagering requirements, which vary from one online casino to the other. Opt for the bonuses or stay away from them – it’s totally up to you.
Types of bonuses:
Not all casino bonuses are created equal. Some are for starters and others for seasoned bettors. Some offer free stakes while other real cash. Let’s discuss a few common types.
- Deposit Bonus:
Deposit Bonuses are an incentive that you get when depositing cash in your casino account. The deposit bonuses come in all shapes and sizes. But, the percentage match deposit bonuses are the most significant of all. Herein, the casino will match the deposits you make by 100%. Deposit $100 and expect to get $100 as Deposit Bonus. Seems too good to be true? Check the small print to know the wagering requirements before availing the Deposit Bonus.
- No Deposit Bonus:
No Deposit Bonuses do exactly what they mean – allow you to play without any deposit. In this arrangement, the casino will deposit a certain amount in your account. You can use this amount to play and bet. No out of the pocket expenses involved until the bonus amount is exhausted. Isn’t it obvious that No Deposit Bonuses are the most preferred way to bet? After all, free money never hurts. However, there’s a lot more to it than meets the eye. No Deposit Bonuses come with wagering requirements that should be complied with to cash out your winnings.
- Welcome Bonus:
More new bettors mean more profitability for the online casino. Welcome Bonuses are a tailor-made arrangement to drive in new bettors. To realize the bonus, download casinos on your gadget or PC, and create a user account, followed by cash deposits. The Welcome Bonus is typically applicable on the first deposit but may stretch over multiple successive deposits. Availing a Welcome Bonus makes sense, but only if suits your style of play and betting goals.
- Referral Bonus
Do you know someone who shares your passion for betting? Request him/her to register with the online casino you prefer betting at. This will make you eligible for a Referral Bonus. Your Referral Bonus can be anything – a free spin, on-site cash or free stake. Earning this bonus is as easy as it gets. Just forward a referral code or link to one or more potential new users. If they sign-in using your referral code or link, Referral Bonus comes your way.
- Loyalty Bonus:
Retaining the existing bettors is equally important for Instant Play Casinos, and hence, the Loyalty Bonus. True to its name, the Loyalty Bonus rewards your loyalty and incentivizes you to persist with a particular online casino. Different online casinos have different parameters to determine your loyalty and eligibility for the Loyalty Bonus. The prime determinants include the number of games, duration of association and ratings achieved. Depending on the online casino and your gaming preferences, the Loyalty Bonus can be cash, free stake or anything else.
Online casinos are profit-centric. Rolling out free money is, thus, counter-intuitive to their business model. Here, wagering requirements kick-in. These are a casino-specific set of rules that should be complied with to activate bonuses. Here’re a few common wagering requirements.
- Time restriction:
The bonus needs to be redeemed within a specified period, typically between 2 days to 2 months or longer, starting from the date of receiving the bonus.
- Maximum wager:
Thanks to the maximum wager requirement, you are allowed to bet only a certain percentage of the bonus money. That’s the prime reason for many bettors to stay away from bonuses.
- Maximum Win:
Casinos put a maximum win requirement on betters playing with bonus money. Herein, withdrawing winnings is discouraged until a threshold is achieved and T&C are met.
Spotting a good bonus:
A good bonus is the one suits your style of play and come with minimal, lenient wagering requirements. It’s an each-to-his-own proposition, but a great player will take the time out to read reviews by other top players at review sites to know which sites are offering genuine bonuses and which ones are out to cheat. It’s in your best interest to match the wagering requirements with your betting objectives.