Explaining How Online Casino Bonuses Work
Who doesn’t enjoy receiving a little extra something-something when partaking in a transaction? With online casinos, that you’ll be getting a bump of some sort when you opt to sign up and open an account with them is a given.
In fact, you can’t seek out an online casino site without encountering a spiel about the betting bonuses on offer to new players. These bonuses can take on a plethora of styles and specifics, but in every case, the purpose they are designed for is to get you to join up at the casino site.
You’ll be hearing about all kinds of bonus offers from any number of online casino sites or casino mobile apps. If you’re new to all of this, it can feel more than a bit overwhelming.
We’re here to help you sort through all of the promises, guarantees and other perks being dangled before you by online casino sites, with our handy explainer of what online casino bonuses are offering and how they will work for you if you decide to take the leap and sign up with a site. So let’s get started deciphering what all this bonus talk actually will amount to in the long run.
Welcome Bonus Offers
Also referred to as signup bonuses, these are the virtual welcome mats that online casinos will roll out before you in a bid to win your favor and most importantly to them, your business.
Online casino bonus offers can take on a number of formats. There’s a straight up matching first deposit option. With this bonus, the online casino promises to match a percentage of your first deposit to your new account with them. Sometimes, that percentage can be as much as 100%. That being the case, the online casino will also be putting a maximum limit on the amount they are willing to match. With that said, many will go quite high with that maximum, occasionally as much as $1,000-$1,500. But this isn’t free money. The bonus takes the form of casino bonus play. You must wager the bonus money on their casino games.
Another frequent signup bonus is an offer to refund your betting losses over a certain period of time. Again, there are going to be parameters put in place with this bonus offer. In most cases, the online casino is willing to refund your losses over your first 24 hours of play with them. The amount they are willing to match will be capped. Again, some sites might go as high as $1,000. Remember though, it isn’t a refund in the true sense of the word. Once more, the returned money takes on the form of casino bonus funds. You’ll be required to wager the money in their casino.
A few online casinos will literally give you something for nothing. Well, almost nothing. Called a no-deposit bonus, this is generally a small stipend - usually between $20-$25 - that they will reward to you simply for completing the task of signing up and opening a new account. Once more, it’s in the form of casino bonus funds.
Finally, some online casinos will also throw in a cache of free spins on selected slot games as part of their welcome offer. There’s no cash value to these free spins, other than the opportunity it presents to you to perhaps spin and win.
Reload Bonuses
A true measure of the caliber of an online casino is how they treat their existing customers. It’s all well and good to entice new players to join up via lucrative welcome offers. Once they’ve got you on board, what are they doing to keep you from jumping overboard and setting sail with a rival online casino?
This is where reload bonuses come into play. Some online casinos will match a percentage of your second and even your third deposit to your account. While these matches also consist of casino bonus funds that you must bet, at least they are giving you something to assure you that your ongoing play with them is truly appreciated.
Refer a Friend Bonus
Got lots of friends? Well, if so, that can also prove to be lucrative for your online casino lifestyle. Most online casinos carry a refer a friend bonus offer. With this bonus, you are provided a code by the online casino.
You share this code with your friends. If they utilize the code to sign up at the online casino, make a deposit and a first bet of a certain predetermined amount, both you and the friend will be receiving a bonus. That amount can be as much as $100.
Read the Terms and Conditions
There’s no such thing as a free lunch. Nor is there a free online casino bonus. You’ll find that every online casino bonus comes with wagering requirements attached.
What’s a wagering requirement, you ask? Well, put simply, it’s kind of a tax on your bonus. The bonus funds you’ve been awarded, that isn’t free money. In fact, online casinos are no longer permitted to describe these offers as free bets, because they aren’t. The money doesn’t come to you free and clear.
You’ll be required to wager the bonus funds a specific number of times. Depending upon the online casino and type of bonus, these rollover requirements can range anywhere from one time to often as much as 25 times.
On top of that, there are other restrictions put in place as part of wagering requirements. Different types of casino games will clear the bonus funds faster than others. You might only be required to wager it 15 times on slots, but 25 times at the blackjack table, for example.
You’ll likely be given a specific time window in which to meet the wagering requirements. It can be anywhere from seven to 30 days. Failure to do so will result in forfeiture of any remaining bonus funds.