The online casino market is very competitive, with several brands trying to gain the attention of punters from different parts of the world. The race amongst these casinos is to make sure that players spend most of their money with them. To this end, every casino today offers bonuses to attract more players to sign-up on their website.
Depending on the type of casino, the size and type of the bonuses differ. While some might offer free spins, others might offer cash along with free spins and so on. Keeping in mind that online casinos are businesses whose sole purpose is to make a profit, one might want to ask how they manage to roll out so many bonuses and still profit. The answer to that is embedded in the saying that “nothing comes for free; not even in Free Town.”
Just like promotional offers announced on TV, these online casino bonus offers usually come with a set of terms and conditions. These terms sort of protect the casino and ensures they do not lose too much of their profits.
As you read, you will see what you need to have in mind before you claim your next casino bonus.
Types of Online Casino Bonus
Generally speaking, there are five types of bonuses offered by casinos. Depending on preference, each of them appeals to different categories of punters. They include,
- Welcome bonus: Like the name, this is the first offer you get from a casino upon registration. Because of the stiff competition in online gambling, this offer is usually very massive, and it stays in the advert of the casino. Depending on the casino, it comes in different types and sizes.
- Deposit/ Match Bonus: these bonuses are given to match the amount you deposit at the casino. More often than not, it is a type of welcome bonus. Whether it’s your first, second, third, or fourth deposit, the bonus could be 200%, 100%, or 50%.
- Free spins bonus: With these, you get some spins for free on a slot machine selected by the casino. These free spins can come with your welcome bonus, or they can come as a regular promotional offer from the casino. Also, they could require deposits, and sometimes they might not.
- Loyalty Bonus: These are special rewards given to customers of online casinos for continued patronage. Usually, the loyalty points are awarded as part of a scheme, and then players claim their prizes by the end of a specific period. In some casinos, everyone is just given bonuses on a particular day in the week or a month.
- VIP Bonus: this is a particular type of bonus offered to high rollers. Players in this category are those who deposit large sums, usually between $500 and $2,000. Their bonuses are usually exclusive, and they run alongside the usual casino bonuses mentioned above.
Hidden Bonus Clauses
As a gambling enthusiast, you must be informed about the terms and conditions that come with casino bonuses out there. The truth is, when you understand how these things work, you will see that not all bonuses are right for you.
Depending on your country’s laws and regulations, these conditions could be visible or not as visible. Whichever way, here are some essential things to note about casino bonuses.
- Wagering requirements: Almost all online casinos use wagering requirements, even for their free spins. Wagering requirements refer to the minimum amount you must bet with to make withdrawals. As an example, imagine you win $50 from a bonus that has a wagering requirement of 4x. That means to withdraw your 50 dollars; you must bet with a total of 200 dollars at least at the online casino.
- Time limit: Most times, the bonuses offered by these casinos come with time limits. That means the bonuses, especially the free spins, disappear after some time. In some cases, you are given a window period to make deposits after registration, within which you can claim your bonus.
- Winning Limits: If you think you can become a billionaire from an online casino bonus, you should think twice. Some casinos deliberately design their bonus offers to sound like they are offering you unlimited cash. However, in reality, there is always a maximum to how much you can win. These limits are common with no deposit bonuses.
Some players feel like they’ve been ripped after casinos apply clauses to casino bonuses. While you might not like these clauses attached to claiming bonuses, they may be essential because they protect casinos and ensure fairness for all players. For instance, without a clause in place, anyone can make his way to an online casino, register, and have access to ‘free money,’ claim it, and exit the system.
However, with restrictions like wagering requirements, casinos will give bonuses only to deserving players that have made similar deposits. To tie things up, ensure you check the conditions of all bonuses before you raise your hopes. Also, always remember, nothing comes for free!