New and regular casino players might have noticed how there’s been an increase in the number of online casino websites. All these websites have different services and games, but have one thing in common – they all offer players with different types of bonuses.
You might be wondering, why then do the online casinos offer the bonuses? Don’t they go at a loss when they do so? There are different reasons why the sites might decide to offer players the bonus money, but competition and their urge to attract more and more players to their sites can be attributed to being the main reason why they offer the incentives.
The casino industry online is supposedly valued at over $20billion by the end of 2020, and the result has seen millions of sites coming up in a bid to get a share of this jackpot. With more than 2,000 sites offering casino services, they all want you to sign up at their website and consequently use bonuses and other incentives as the way to beat their competitors.
In this article, we focus on all the available incentives available at the websites and how you can claim them. If you are a newbie, we’ve also stated just a few tips to help you get the most out of the offers.
Types of Online Casino Bonuses
There are different types of online casino bonuses that vary from one website to another. They are broadly categorised into either the deposit or no deposit bonuses.
- Deposit or match bonus – You only receive this after making a deposit as stated in the terms and conditions.
- No deposit bonus – Just as the name suggests, the no deposit offer is awarded to you without making any deposit. There are however other minor terms and conditions that you have to meet before you are fully awarded the amount.
Welcome Bonus (Sign-up)
Just as the name suggests, it’s offered as a way of welcoming you to the site. It’s usually offered as a percentage of the first deposit that you make once you’ve created an account online. For example, at BetatCasino, you are going to receive a welcome offer of €500 + 50 free spins. The €500 money will be deposited into your account fully, while the 50 free spins will be used to play Starburst and Arabian Nights video slot game. This type of reward is a deposit bonus.
No Deposit Offer
As already mentioned, you don’t have to make any deposit to receive this bonus. All you need to do is sign up at the casino’s website, and the bonus money shall immediately be credited to your account. **However, given the nature of the reward – it’s given free of charge, and with very minimum strings attached to it, the amount offered is very little. In most cases, this amount ranges from €10 up to a maximum of €20.
The Reload Offer
This is part of the ongoing casino promotions. Just as the name suggests, the reload offer ensures that you are rewarded any time you make an additional deposit at the site. Just like the welcome offer, the reload offer comes with a percentage of the amount of money that you deposit. For instance, you might be offered a 50% deposit on your subsequent deposit up to a maximum of €100. Since the reload bonus is part of an on-going promotion, it tends to be lower than the welcome offer.
Also referred to as the Loyalty Bonuses, comp points are a way of being rewarded for choosing to play at the site. How do you earn the points? Simple, every time you play a real money game, the casino awards you with points. For example, for every €10 you spend, you earn 1 point. Once you’ve accumulated the required number of points, you can then redeem them for real money.
All these are some of the popular types of rewards that you will be offered across different casinos. One important thing to note is that VIP and regular players have different offers. While you may only receive 1 point for every €10 wagered, they may receive 2 points for the same.
Are the casino bonuses withdrawable?
It depends on the website where you are playing your games from. Some sites allow you to withdraw the bonus, while others don’t. Those sites which offer you the opportunity of redeeming the bonus money are mostly those that have a well-established player base and can afford to pay out the money in cash form.
For those that can’t afford to pay out, they will mostly allow or encourage you to use the money to play the real money games and access other services. In the process, you can win real money which you can them withdraw.
Important Casino Bonus Tips
For new players, it’s important that you understand a few things before you can redeem the bonus money. For those regular players who have never had the time to go through the bonus terms and conditions, these tips will also help you get the most out of the bonuses.
1. Always read the terms and conditions
If you are new to the industry, it’s highly recommended that you read the terms and conditions before you can claim any form of bonus money. Terms and Conditions usually spells out all you need to know about the bonus and therefore enabling you to plan accordingly towards settling the wagering requirements
2. Be aware of the wagering requirements and expiration dates
These are things that people most often ignore, only to regret later. Wagering requirements simply refer to the number of times you have to play through your bonus before redeeming it. It is the total amount of real money that you have to spend on the bonus before you can actually withdraw it or redeem it. For instance, a €10 bonus capped at a 35× wagering requirement can only be redeemed if you’ve spent €350 in real money.
Expiration dates refer to the dates when the bonus is set to expire. It’s normally included in the terms and conditions section.
These two are important as they enable you to evaluate whether or not the bonus amount is viable. For example, if you are awarded €50, and you have to meet a wagering requirement of 40× within 30 days, then this reward is not viable. It won’t make sense to spend €2,000 just to claim €50 in 30 days. It will, however, be viable if the wagering requirement is set at say 25×.