Casino Welcome Bonus
New online casinos must establish a customer base just like any other new business. One way in which they do this is through the use of welcome bonuses. What are welcome bonuses, how do they work, and what are some common ones out there? Knowing what to expect is the best way to make the most of these bonuses, which is why we are offering the following information.
Best Casino Bonuses
What is a Welcome Bonus?
A welcome bonus is a promotional offer that gaming sites use in order to attract new players. Think of them as akin to an in-store promotion at a brick-and-mortar location. The only difference is that instead of offering discounts or sales prices, platforms are giving you free spins or money to play with.
Nearly every new site will offer a welcome bonus during its start-up phase. There are hundreds if not thousands of new gaming sites being launched every year, which means that each one has to be competitive if they are to attract new players. By offering bigger and better welcome bonuses, sites hope to divert players to their platforms and possibly lure them away from older, more established ones.
First Deposit Bonuses
You’ll find a plethora of rewards available; however, one of the most common is a called a first-deposit bonus. With a first-deposit bonus, a site will match your initial deposit up to a certain amount. The amount of the match will vary based upon the casino.
As an example, suppose a casino offers a 100% match on a deposit of up to $100. In that case, you would deposit $100 of your own money and receive an additional $100 from the gaming site.
Some platforms will match the amount of your second or third deposit as well, although normally in lesser amounts. For example, a site may offer a 100% match on a first bonus of up to $200. They would then give you up to half your second deposit of $200 or less. Your third deposit of up to $200 would be matched by 25%. So you would earn $200 for your first deposit, $100 for your second, and $50 for your third deposit, for a total of $350 in matching bonuses.
No Deposit Bonus
A no-deposit bonus is another common type. With a no-deposit bonus, you are not required to add any of your own money to an account. There are typically more strings attached to this type of incentive since the site is essentially giving you free money to play with. No deposit bonuses are often much smaller than first, second, or third deposit rewards as well.
Some sites offer free spins on their online slot games. These free spins are normally good only on certain games, and typically have a set value that is the lowest wager possible. Depending on the casino, you may be able to cash out your winnings without making a deposit of your own. However, some will also require a small cash deposit or limit the amount you can withdraw to only a pre-determined amount.
Gaming sites may offer several variations or combinations of the above incentives. For example, some may reward you by matching your deposit as well as providing free spins. Do some shopping around and you will likely find there is virtually no end to the number and type of welcome bonuses that are available.
Rewards and Loyalty Programs
These are not a new player bonus per se, yet do give people an incentive to try new sites. With a reward and/or loyalty program, you can earn points based on your deposits or earn special bonuses on your winnings. Some will even allow you to join a VIP club where you will have access to private tournaments with even higher stakes that what are available to most other players.
New player bonuses typically come with certain wagering requirements that must be met before you are able to cash out. The way it works is this: You receive $100 in new player bonuses at a site which has a 25x wagering requirement. You would then need to bet at least $2,500 of your own money before you would be eligible for any winnings. The wagering requirements vary from one casino to the next; however, a common pattern is that the greater the bonus, the higher the wagering amount is likely to be.
How do Welcome Bonuses Work?
To receive your bonus, you will first need to register for an account. To keep people from taking the money and running, some casinos will require you to make a small deposit first. Others may require a token deposit before you are able to cash out any of your winnings. Always know what the deposit requirements are before accepting any incentive.
Each provider has its own rules as to which games a bonus may be used on. Some will even restrict how much of your bonus you can use to bet on certain games. You must adhere to the rules very carefully; otherwise, you risk forfeiting any winnings.
Once you have played through and met any wagering or other requirements, you can cash your winnings out. This will require you to establish an e-wallet account or register a credit or debit card.
The importance of knowing what the terms and conditions are cannot be stressed enough. Do not fall into the trap of thinking that you will use free money to play with and then cash out big winnings. Gaming sites have put plenty of safeguards in place to ensure this doesn’t happen. These platforms would lose big money if they allowed everyone to do that. As is stands, most only break even on new player bonuses, and are banking on the fact that you will stick around and play with your own funds.
Some rewards may almost sound too good to be true. If you come across a bonus that seemingly has no strings attached, proceed with caution. A lot of unreputable sites do offer such bonuses, but may nonetheless go dark whenever it is time for you to cash out your winnings. Ensure that any casino you choose has a solid reputation and is properly licensed in the area you are playing in.