Who doesn’t like gifts? We know, online casino players surely do. That’s why players generally flock to online casinos that offer enticing bonuses and promotions. Casinos dole out these promotions to attract new players and retain the existing players. It’s normal to lose money when you gamble, however, the bonuses can help reduce your losses to an extent and increase your winning rate.
Bonuses also boost the confidence of the players and help them to explore more casino games. Various types of bets carry very different requirements and limitations. It can be a headache for the new players. Don’t worry, we have tried to make it as simple as possible for you to understand it. So, let’s dive deep into the glittering world of bonuses and promotions.
What Types Of Bonuses Do Online Casinos Offer?
- Deposit Bonus: Deposit bonuses are rewards offered by the online casino when you make a deposit. The bonus meted out will be a certain percentage of the deposit made. Let’s say that you made a $100 deposit to claim a 100% welcome bonus of up to $100, your account will be credited with the $100 you deposited and another $100 provided by the casino, making your total fund $200. There will be an initial deposit limit that you have to meet to claim the offer. In some casinos, you will have to enter the promo code to activate the offer. There are three types of deposit bonuses:
- Welcome Bonus: Welcome bonuses are meted out to new players who join a casino. The welcome bonuses are usually very high to attract newer players to the online casino. In some casinos, the welcome bonus will be split between the first four or five deposits, earning the player bonuses for their first four/five deposits.
- Reload Bonus: Reload bonuses are usually awarded to existing and seasoned players in an online casino. It is a loyalty bonus awarded to the most loyal and consistent players. If you deposit on specific days in a casino, a percentage of your deposit will be credited back to your gambling wallet.
- High Roller Bonus: High rollers are high spends and are the most prized customers of online casinos as they spend more and hence, contribute more to the casino’s profit. Therefore, casinos give back a certain percentage of their deposits. These bonuses might not always be cash, they can be lounge accesses, tickets to world events, vacations, etc.
- No-Deposit Bonus: No-deposit bonuses are the most lucrative and rare bonuses to come across in online casinos. It is not usually awarded to new players. It is a token of appreciation for being consistent in the casino. No-deposit bonuses are really, free real money. It does not require any deposits to redeem them. No-deposit bonuses allow you to try a game without risking your own money. And, if you win the game, you get to keep all the winnings.
- Free Spins: If you are a slots enthusiast, free spins are the best promotion that can excite you. Online casinos are equipped with thousands of online slot games that have high RTP (Returns To Player). Free spins allow you to spin the reel for free and keep the winnings for yourself. Free spins are generally coupled with deposit bonuses or given away as loyalty bonuses.
- Cashback: Cashback bonuses are usually awarded by casinos to high spenders. It’s quite common to experience losses in online casinos. High-spenders can have huge losses when compared to regular players. Online casinos therefore try to give back a certain amount of the losses that occurred to the player. It is a way to encourage the players to keep playing. In some casinos, the cashback percentage depends on your VIP status or loyalty tier.
- Referral Bonuses: Casinos want new players to join their platform regularly. They are ready to pay you for it if you help bring them new customers. The refer-a-friend bonus allows you to send a link to your friends or relatives to join the casino. If they join through your link and make their first deposit, a certain sum of money or bonuses are credited to your account.
Limitations On Casino Bonuses
- Wagering Requirements: Wagering requirements are the minimum number of times you need to wager the bonus amount in games before you can withdraw it. The wagering requirements are different for different games. It is a way for online casinos to make you place more bets on their platform. If you don’t fulfill the wagering requirements, the casino won’t allow you to withdraw the winnings.
- Betting Limits: Every game and promotion in an online casino has minimum and maximum betting limits. This is placed to prevent players from making huge bets that online casinos cannot fulfill. According to the risk appetite of the online casino, the maximum betting limit can increase.
- Maximum Cashout Limits: Each offer carries a maximum cashout limit. A casino might advertise a 100% welcome bonus of up to $75. So, if you deposit $100, you should receive a $100 bonus. But the casino has capped the limit to $75, therefore you can only cash out up to $75. This is to prevent the casinos from having to pay huge payouts.
Conclusion
Winning a bonus in an online casino is as exciting as winning a casino game. Apart from the thrills and excitement, bonuses are always the best thing about online casinos. It allows the players to take more risks and prevent huge losses. It also boosts the confidence of players to venture into new casino games. However, each bonus carries specific requirements that you need to fulfill to cash out.
The wagering requirements, betting limits, and cashout limits should be carefully considered before redeeming the offer. Another thing to remember is that always gamble in licensed and reputable online casinos. Unregulated casinos might be scams and can contain unrealistic wagering requirements that are hard to fulfill, ultimately scamming you off your money.
Read More: Free Comps At Online Casinos: How To Get & Use It?
