Types of Online Casino Bonuses
Online casinos have overrun the gambling market everywhere in the world, for better or worse. That’s not by surprise or chance. As a matter of fact, the writing was on the wall from the moment they first appeared. People always dreamed of playing anonymously from their homes, but online casinos added some extra stuff. Among them were casino bonuses the land-based industry simply can’t match.
While you can get free chips and other comps in Vegas, you can’t get bankroll boosts like in online casinos. While casino bonuses are not the free money many think they are, they’re an efficient marketing tool and a great way to attract new players. Nothing wrong with that – casinos are just using the online tools at their disposal. And, while using casino bonuses is easy, we must say that not all of them are great.
You can claim different types of bonus offers, and you must know the difference between them. In this guide, we’ll cover all the ground on casino bonuses and help you learn how to get the most out of them.
What Are Casino Bonuses?
In the simplest choice of words, casino bonuses are rewards for new and seasoned players. Their ultimate goal is to get new players in and keep existing players happy. Online casinos use bonuses sparingly, and they come in many shapes and sizes. The most common type of bonus is the deposit bonus, but free spins are a big favorite of many players too.
Regardless of the offer you’re facing, you should be clear on one thing – they’re not free money. Heard the saying ‘Nothing is ever free in a casino?” Well, that’s true for bonuses as well. They all have a set of rules you must follow which many players skip reading. It’s true that we all hate reading the fine print, but when it comes to bonus T&Cs, it’s the most important thing.
How Does a Casino Bonus Work?
A casino bonus works in a simple way. Depending on its type, it can boost your initial deposit, or it may be a batch of free spins that you can use on specific slots or all. The technicalities behind it are not your concern. What you should do is read the terms and conditions as they mostly explain how the bonus works.
We already said it’s not free money, and the terms will clarify it. A casino bonus is a great thing and yes, you can win real money with it, but don’t expect to withdraw it so quick. The casino will ensure to get the most out of your bets, and that means the money you get in the form of a bonus too.
Different Types of Online Casino Bonuses
As mentioned earlier, there’s no single type of casino bonuses. Nowadays you can claim a whole lotta bonus offers that are more impressive than ever. From deposit offers to no deposit bonuses and loyalty rewards, below you’ll see all the different bonus types in casinos.
Welcome Offers
The welcome bonus is the first type of casino bonus you’ll come across. It’s a bonus you get for joining a casino as the name suggests. In most cases, this is a combination of a first deposit bonus with a batch of free spins. Most casinos will cover 100% of your first deposit, giving your bankroll a nice boost right from the get go.
Of course, it’s up to the gaming site to decide what it offers. Some will go with a no deposit bonus such as 50 free spins on sign up. Some will just stick to free spins. But, a deposit boost is the most common bonus, and may or may not be spread across several deposits. For example, instead of a 100% deposit bonus, you may get a 150% on your first, 100% on your second, and 75% on your third deposit after signing up.
Welcome bonuses usually need no bonus code. If the bonus requires a promo code, it will clearly be stated on the banner. Like any casino bonus, the welcome bonus is subject to numerous terms and conditions you’ll have to agree to claim what you win with it.
Deposit Bonus
A deposit bonus is self-explanatory. You make a deposit to play games in a casino, you get a boost on it. It is typically used as the base for welcome offers. These deals are often sweetened with free spins, but the first part of the bonus is usually a 100% first deposit bonus.
These bonuses come with strict terms and conditions, so you can’t just keep what you win with them easily. You’ll have to roll the bonus over a number of times before you can claim your winnings and withdraw them.
It’s rare to see a deposit bonus that goes over 100%. Some will cover only 50% or so for regular players. It’s the most common bonus in online casinos these days, and the one players love the mot. If you find one with reasonable wagering requirements, you’re golden.
No Deposit Bonus
As the name obviously suggests, the no deposit bonus doesn’t require a deposit. But, this isn’t free money as many think. You will still need to follow some rules to get your money out, and these bonuses are typically smaller than deposit or welcome bonuses. For example, you might get $10 on sign up to try a few games, or, more commonly, a batch of 10 or 20 free spins.
These limited bonuses are highly restricted, but they’re a great way to start your journey. Even if you’re getting a small amount of cash, it’s still more than enough to give a casino a try. Call it an excellent incentive to join a casino. You’re more likely to give that casino a try instead of one that doesn’t have a welcome offer.
Free Spins
Free spins are a pretty popular bonus that both players and casinos love. This isn’t money we’re talking about. That’s why casinos hand them out freely, often in batches of 50, 100, or any number above or below. Free spins can also be attached to other bonuses, including welcome offers. While they have no monetary value, you can win real money with them on specific slots or all the slot games available in a casino.
They have terms and conditions the same way other bonuses do. This means that you’ll most likely need to wager the money won 10 or more times before you can withdraw your free spins winnings. Plus, they often expire in 24 hours and are limited in terms of bet size and possible winnings.
Keep in mind that you probably won’t be able to play your free spins on all games. They are usually issued on specific games, for example a major slot hit or a new game.
Other Bonus Types
- Cashbacks and Reloads: playing in online casinos means that you’re going to win some money and lose some. You’ll lose more often than you win, and parts of those losses will be covered by casino sites. For example, you might get a 10% cashback on net losses of $200 or more or a similar amount on bigger net losses. When it comes to reloads, think of them as further incentive to play in the casino. This bonus is usually weekly or monthly, giving your deposits a boost regularly.
- High Roller Bonuses: high rollers are not like the casino gen-pop. They play through way more money than everyone else, so a 100% deposit boost up to $100 isn’t going to cut it for them. These people spend a lot of money and would like to be properly rewarded for it. High roller bonuses are rare, but when available, they boost your bankroll like no other offer. If you can handle it, of course, since this bonus is the big boys league.
- VIP (loyalty rewards): most casinos in 2022 have some kind of VIP or loyalty program that you can enroll in. Some are point based – you collect points and go through the VIP levels. Others are invitation only, so you can only hope that you get in. The rewards in VIP clubs are more exclusive than the regular bonuses, so you can expect bigger and better boosts to your deposits, free money, and probably some shiny things too.
Casino Bonus Terms and Conditions
So, about those T&Cs…every bonus has them, ensuring that you won’t just spend it, win some money, and go away with it. Casino bonus terms and conditions are essentially the fine print no one wants to read, but they’re essential to using and converting the bonus to real money.
When you read the T&C, there will be many unfamiliar terms. The wagering requirements are chief among them, but we’ll explain more about the others too below.
Wagering Requirements
This is the most commonly searched term in relation to casino bonus term online. Everyone knows they’re important, but how much? Well, we can safely say they’re the most important part of the terms – fail to complete them, and you lose the bonus and the winnings. But, what do they represent? It’s simple – the number displayed as wagering requirements indicates how many times you need to play the bonus through to get your winnings out.
- Let’s put things into perspective: if you get a $100 bonus and you need to wager it 35 times, it means you need to spend $3,500 before you ask for a withdrawal ($100 x 35). Unless you complete the wagering, you will lose your winnings and the bonus.
Use your bonus wisely and check the eligible games. If you miss completing the wagering, you’ll lose it all, which isn’t something anyone wants.
Bet and Win Caps
Some players think they’ll get a bonus and spend it all in one try. The wagering requirements prevent you from doing that in addition to the bet and win caps. Welcome bonuses are usually capped at $5 per bet. The size of the bet can go higher or lower.
Some bonuses also introduce a cap on wins, so you won’t be able to hit millions with them. Casinos are willing to give you a bit of extra cash, but they’re not stupid to let you win progressive jackpots with bonuses.
Time of Completion
The wagering requirements need to be completed in a specific period – usually 30 days. It’s the casino’s choice – some may ask you to complete the terms in 10 or 20 days, or even less than a week or two. If you don’t wager the bonus amount in that period, you will fail completing the terms and your bonus will be void.
Game Eligibility
Unless otherwise stated, bets on slots contribute 100% to the bonus wagering requirements. Other casino games rarely contribute, or they might only contribute 20% to the wagering. Playing your bonus money on slots is the cleanest choice. Don’t even go for table games when you claim a bonus.
It’s easier, faster, and better to just stick to slots.
Pros and Cons of Casino Bonuses
Casino bonuses have more pros than cons, and we’re glad for that. However, you also need to be aware there are a few disadvantages tied to the way you use the bonus funds.
Pros
- Who can say no to extra cash?
- Give you a chance to try a casino you like
- Different bonuses for all kinds of players
- Easy to claim, even with a bonus code
Cons
- Everyone hates wagering requirements
- Limits on time, bets, and limits
Conclusion
Whether you’re a new player or a veteran in an online casino, there’s no question that online casino bonuses are worth it. They’re a great way to check a casino out and see what it has to offer. If you don’t like what you see, you don’t need to continue playing there – just find another gaming site.
Sure, the terms can be a bit pesky, but the fact remains that bonuses are an integral part of the whole casino experience.
