It seems that every few months something huge is going down in the world of online casinos, especially when it comes to casino bonuses and promotions. It’s such an action-packed industry that it’s often easy to miss some of the awesome promotions and schemes out there.
This page in particular deals with popular bonuses offered by modern online casinos. Nowadays it seems that offering the best bonuses is a fun game online casinos love to play and this creates a win-win situation for both the players and the casinos.
Generally, online casino bonuses fall within two categories: Deposit Bonus and No Deposit Bonus.
Readers should understand that Deposit Bonus and No Deposit bonus are broad categories within which numerous forms are bonuses are offered in different shapes and sizes.
Introduction to Deposit and No Deposit Bonuses
In DEPOSIT BONUS, players need to deposit money in the casino account held by the player in order to claim their bonus. Players need to register and then deposit, after which they can finally claim their bonus.
NO DEPOSIT BONUS does not require players do deposit in an online casino. Players generally claim these bonuses right after they open a new account in an online casino.
Within these categories, there are different types of bonuses to be found, each of which we will briefly introduce in this article.
Types of Deposit Bonuses
This bonus has a straight forward concept where players are awarded a bonus on a percentage basis (normally 100%) of their first deposit amount. As per the name, sign up bonuses can be claimed after the first deposit and applies to only your very first deposit after registration. Sign-Up bonus or Welcome bonuses are the most commonly offered bonus in online casinos. For example, if you deposit $50, the casino will offer you another $50 which is added to your casino bonus account.
Re-loads bonuses intend to encourage existing players into reimbursing their cash account after their first deposit. While reload bonuses follow the same concept as a sign up bonus, the only difference is that reload bonuses are offers on deposits after the first deposit. This is another common type of bonus that players will encounter while making deposits in an online casino.
It’s not necessary that re-load bonuses yield the same percentage as welcome bonuses. For instance, if a casino offers 100% match bonus on the first deposit and 50% bonus on the second deposit, the 100% match is the welcome bonus and the 2nd deposit bonus is a re-load bonus.
Preferred payment bonus
Although most casinos offer a wide-range of banking options to the players, some casinos usually prefer their players to use certain deposit methods. If the player deposits with this particular electronic medium, the casino adds bonus credits in their bonus account. Casinos have various reasons for choosing one deposit method over the other, and they reward the player for using that method through a bonus amount which usually ranges from 5% to 10% of the amount deposited. Casinos clearly state their desired method of payments in either their promotions page or banking page.
Types of No Deposit Bonuses
Free cash bonus
These bonuses are quite the opposite of a sign up bonus; this doesn’t mean that the casino will take away your money, but it does mean that you receive the bonus without risking anything on your own. Free cash bonus or no deposit cash bonuses are offered to players as soon as they register, prior to making their first deposit. The casino states the bonus amount, which players can claim right after they register with the casino.
Free Spins Bonus
Free Spins bonuses are similar to free cash bonuses, the obvious difference being that players receive free spins rather than cash. Players can play those free spins in a pokie game that has been designated for those limited number of free spins. Depending on how the casino has structured it, players can either claim the win amount during the free spins as a bonus or win a certain amount on a pro rata based on the amount won during those free spins.
Refer a friend bonus
After you have registered as a player, some casinos offer a Refer a friend bonus. In this bonus, if you refer the casino to another player and he or she successfully registers in the casino, you get a certain bonus amount. Again, this bonus needs to be transferred from the bonus account to the cash account before withdrawal through the casino’s wagering requirements.
CASINO BONUS ACCOUNTS and WAGERING REQUIREMENTS
Bonus accounts are independent from the cash account you hold with the casino. After claiming any bonus, the bonus amount will be added to the casino bonus account (unless stated otherwise). The bonus amount is non-withdrawal, until players fulfill the wagering requirement, after which the amount is transferred to the player’s cash account where the amount can be treated as regular cash.
Wagering Requirements Explained
It is quite obvious that online casinos place stipulations and restrictions to a player’s bonus. While there are very few or no stipulation for a player to claim their bonus, it’s quite likely that there are a list terms and conditions that players need to fulfill before being eligible to withdraw these bonus amounts. Among the most common restrictions is a stipulations known as “wagering requirements”.
Wagering requirement (also sometimes called the playthrough requirement) is the minimum amount you have to play before you can cash out the bonus.
Without a wagering requirement players could sign up, get the bonus and then immediately withdraw and that would be just stupid. Therefore, online casinos require players who claim these bonuses to turnover their bonus amount certain number of times, by playing casino games, before being eligible to withdraw the amount.
If a casino states that their wagering requirement for the sign-up bonus is 30x, it means the player needs to bet their bonus amount 30 times before being able to withdraw the bonus amount into withdraw able cash. If the player receives a bonus of $50, he’ll have to bet $50X30 = $1500, only after which the player can withdraw the $50 in cash. The terms and conditions of the bonus should clearly state the requirements; generally they state the number of turnovers required, and now you know what that means.