Casino Bonuses
Casino bonuses have become an integral part of the online gambling industry, serving as incentives for players to join and engage in casino games.
These bonuses come in various forms, each offering unique advantages and conditions.
They can be taken advantage of, but it is also important to know what purpose they serve.
Ultimately, online betting platforms offer bonuses not because they are incredibly generous enterprises set up for the betterment of their customers, but because they know that if you are willing to engage with them, however briefly, then there is a good chance that you will sign-up with them and lose money in the long-term.
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Different Types of Casino Bonuses
There are numerous different types of casino bonus that companies offer, each with their own advantages and their own foibles. It is worth having a sense about how each of the bonus types works in order to know what ones you’ll want to look out for and what you’ll need to do to make the most of them.
Here is a look at the main bonus types that you’re likely to come across when signing up for an online casino:
Free Spins
One of the most popular types of bonus, both in terms of how regularly it is offered and in the sense that the free spins bonus is the one that people tend to enjoy the most. This is targeted at those that like to play online slots, given that that is the thing you’ll be using to make use of them.
Free spins are exactly what they sound like: some spins on a game or games that don’t cost you anything. You will see them as part of an offer such as, “Deposit £50 and get 500 free spins!” Whilst it is a chance for you to win some money without having to pay for the spins yourself, there are usually wagering requirements attached to such bonus offers.
Deposit Match
Another popular bonus offered by casinos is that of the deposit match. You will usually be promised a match to how much money you deposit, so if you deposit £100 then you’ll get 100% of that matched in bonus funds. These bonus funds can only be spent in the casino and will usually have wagering requirements attached, but it’s still good news.
Often, deposit matches are paid ‘up to’ a certain amount. That is to say, you’ll get ‘up to £100’ matched. That doesn’t mean that you can only deposit £100, but that you will only get up to £100 of your total deposit amount matched. Deposit £20, you’ll get £20 in bonus funds, but deposit £200 and you’ll get £100 bonus matched.
No Deposit Bonus
In many ways, the no deposit bonus is the best one that most punters look out for. They are offered to players without requiring them to make any initial deposit, which both explains why they’re so popular and also why they don’t tend to happen all that often. You can still find such offers occasionally, though, so it’s always worth keeping your eye out for them.
These bonuses usually come in the form of bonus funds or free spins and are an excellent way for players to explore a casino and its games without risking their own money. The key factor is that you don’t need to make a deposit, which means that your own money will be kept in your bank and you won’t feel a compunction to spend any of it.
Reload Bonuses
Reload bonuses are designed to reward existing players by offering them additional bonuses on subsequent deposits after the initial deposit. Obviously this sort of bonus isn’t necessarily all that appealing to new customers of online casinos, but if you’re planning on remaining a customer long-term then they can be quite lucrative.
The reload bonus essentially works by saying that you’ll get, for example, 50% of your deposit added as bonus funds. If you were to deposit £100, for example, then you’ll get £50 back as a reload bonus. As you might imagine, most online casinos put a limit in place as to how much you can get as a reload bonus so don’t over-deposit if you don’t need to.
Cashback Bonuses
A cashback bonus provides you with a percentage of your losses back as a bonus, giving you some consolation in the event of an unlucky streak. You might be offered an amount like 20% of your losses back as bonus funds. It is a move that is designed to keep you playing, given the fact that you’ll get some losses back and they will come in a form that needs to be gambled.
That is to say, you’re extremely unlikely to get a cashback bonus paid in actual cash. Instead, it will be bonus funds or free bets, which you’ll need to wager a given number of times in order to be able to withdraw the money to your bank account. That isn’t necessarily a bad thing, just something it’s good to be aware of.
Casino Bonus Terms and Conditions
In order to ensure fair play and prevent abuse, casino bonuses are subject to specific terms and conditions that you should be aware of so you’re not too disappointed in the event that you don’t get your money back.
Here is a look at some of the most common ones:
Wagering Requirements
Wagering requirements specify the number of times a player must wager the bonus amount that they’ve received before being eligible to withdraw any associated winnings to their bank account. For example, if a £50 bonus has a 20x wagering requirement, that means that the player must wager £1,000 before they can withdraw the winnings.
To put it another way, if you’ve taken, say, the matched deposit offer and deposited £50 and received £50 in bonus money, you can play that bonus money as much as you want but until you’ve placed the equivalent of £1,000 worth of bets (with a 20x wagering requirement) it is essentially just toy money and you can’t get it out of your betting account.
One thing to look out for is whether you need to wager just the bonus money or the money that you deposited and the bonus money in order to meet the requirements.
Maximum/Minimum Wagers
It is not uncommon for casinos to impose maximum and minimum wager limits when playing with bonus funds. Maximum wagers prevent players from placing excessively high bets, trying to complete their wagering requirements in one go (one spin on a roulette wheel for example), whilst minimum wagers ensure that players actively participate in the games.
Game Restrictions
Certain casino bonuses may be restricted to specific games or game categories. For example, free spins may only be valid on certain slot machines, or roulette bonus funds might not be playable on the 1:1 payouts such as Red or Black. It is essential to review the terms and conditions to understand which games can be played with the bonus funds that you’ve received.
Time Limits
Bonuses often come with expiration dates, requiring players to meet the wagering requirements within a specified timeframe. Failing to do so may result in the bonus and associated winnings being forfeited. Make sure you know how quickly the bonus funds need to be used because the last thing you want is to be on the verge of being able to withdraw winnings only for the time to have run out.
Game Restrictions and Varying Wagering Requirement Weightings
One of the key things to be aware of is the fact that not all games contribute equally to the wagering requirements of a casino bonus.
Games with a higher House Edge, such as slots, often have a higher contribution towards the requirements. On the other hand, games with lower house edges, such as blackjack or video poker, may have a lower contribution or even be excluded from meeting the wagering requirements altogether.
It is common to see weightings assigned to different games, indicating the percentage of each wager that counts towards the requirements. For example, slots may contribute 100% towards the requirements, whilst blackjack may only contribute 10% or less.
Knowledge of how the weightings work can help you to strategise your gameplay and choose games that will efficiently meet the requirements while maximising your chances of winning.
What is a Good Wagering Requirement for a Casino Bonus?
The reality is that some wagering requirements are better than others. Determining what constitutes a good wagering requirement for a casino bonus depends on various factors, including personal preferences and risk tolerance. Generally, lower wagering requirements are considered more favourable for players, as they require less betting activity to meet the target, which increases the chances of converting the bonus into real, withdrawable winnings.
Wagering requirements can vary significantly among different casinos and bonus offers. It is not uncommon to see wagering requirements ranging from 20x to 50x or even higher. The lower the requirement, the easier it is for players to fulfil it and withdraw their winnings. However, it is essential to consider the entire package of the bonus, including the bonus amount, game restrictions and other terms and conditions, when evaluating the overall value of the offer.
Players should also be aware that different games may have different weightings towards the wagering requirements. If a player prefers a particular game, such as blackjack or video poker, it is beneficial to look for bonuses with favourable weightings for those games. For example, a bonus with a 10x wagering requirement for blackjack would be considered extremely favourable, whilst a bonus with a 100x requirement would be less appealing.