A guide to Casino Bonuses: The Different Types, and How They Work.
What would you say if you received a no-deposit casino bonus that was withdrawable? You would probably get excited. However, you may be thinking that this isn’t possible. The fact is that it is possible.
This possibility exists because there are online casinos that want you to be their next loyal player. They do this by offering no-deposit bonuses and generous bonuses that accompany the first deposit. Your experience, skill, and familiarity with how online casinos work, as well as the amount of money you are willing to put into your bankroll, are all factors that determine which bonuses are right for you.
The following is a list of the different bonus types to help you decide.
The First-Time Depositor
Most casino bonuses are offered to the first-time depositor – these bonuses are know as the welcome bonus. This is because it is designed to encourage a player new to that website to deposit money. The hope is that he or she will continue playing because that is what generates business for the casino. It’s simple business sense.
The size of the bonus is typically capped, and the amount of the bonus is usually a percentage of the deposit. You may notice an online casino offers different bonus percentages based on the deposit amount.
An example of how a percentage match works is this: A player may make a $1,000 deposit and the casino bonus will be a 200% match. For every dollar deposited, there is another dollar of bonus money.
Some casinos may offer a specific amount of free spins. For instance, everyone who signs up gets 100 spins. This means they get the same number of spins regardless of the deposit amount. Then again, a person may get 100 free spins for every $100 deposited. There are many variations of the first-time depositor bonus.
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Below, you will find a rundown of the different types of casino bonuses.
Play Only Bonus:
You will run into this type of casino bonus often.
You can only play the bonus money and never withdraw it. You can use it to wager and that’s it. If you win using bonus money, the bet will return to your bonus balance and the money you won will go to your real cash balance. You can withdraw these winnings once the minimum requirements for that online casino have been met.
Those casino bonus requirements are typically the same between casinos – you have to wager a certain amount of real money before you can make a withdrawal.
The usual requirements cause you to wager a certain amount of your deposit and bonus dollars before you can withdraw. If you choose to withdraw before you have satisfied the requirements, you forfeit the bonus as well as any winnings that came from bonus wagering.
Free Play Bonus:
This is a very common type of casino bonus and is among the best casino bonuses for trying a casino before you make a commitment.
You get free money right after you sign up regardless of whether you have made a deposit. You typically have to wager the bonus money 50 or more times before you can make a withdrawal. Some casinos won’t allow a withdrawal unless a real cash deposit is made later. Think of this as the “try it out” bonus so that you can make an informed decision about which online casino is right for you.
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Withdrawable Bonus:
This type of casino bonus is much different from the aforementioned bonuses in that you can withdraw your winnings from bonus money. This type is a rare one. You usually have to deposit real money to get the bonus money.
For instance, you may deposit $1,000. If the casino offers a 100% bonus up to $500, then you would get $1,500 to play with. You will have to clear the bonus before you can withdraw any bonus money, but you can always withdraw your deposit if you need to. You just have to clear the bonus requirements to get that money.
While this is considered among the best casino bonuses, you do have to wager a certain amount before the bonus money can be withdrawn.
For example, you may deposit your $1,000 and receive $500 in bonus money, but you would have to, perhaps, make around $10,000 in wagers before you could withdraw the bonus cash depending on the wagering requirements. This does take a lot of play, but both winning and losing wagers apply.
Reload Bonus:
The reload bonus is another type of play-only casino bonus. The difference between this and your typical play-only bonus is that you can redeem the bonus on any other deposit besides your first deposit.
Once you make your initial deposit, you will receive weekly or monthly reload bonus offers because the casino wants you to keep playing.
Refer-a-Friend Bonuses:
This type of casino bonus isn’t as common as it used to be, but it exists.
If you refer a friend, a casino may give bonus dollars or points after that friend deposits a certain amount of money at the casino.
Payment Method Bonus:
Some casinos may encourage players to use a certain payment method to make their deposits with.
This is a rare type of casino bonus. A preferred payment method tends to be e-wallet, and this bonus may be given in addition to other types of casino bonuses.
High Roller Bonus:
Some casinos like to give incentives to those that make sizable deposits. Those that do so and play a lot are called “high rollers.”
They tend to be VIPs, so they are given some of the best casino bonuses because of their high deposit amounts. They may also be offered other perks as a part of their membership.
Considerations about the Different Casino Bonuses
There are several things to consider about casino bonuses, such as time requirements and the fact only certain games may qualify toward clearing the bonus.
Many casinos don’t allow poker games to count toward bonus clearing because of the low house edge. This is why it’s important to read the terms and conditions, requirements, and other rules before deciding which online casino is going to fit your style of play.
All in all, casino bonuses are a great way for online casinos to attract players.
They acquire you as a player, and that means they have satisfied their goal. However, you also get extra money to play with, which is good news for you. You can also use the bonuses as a tool to determine which casinos appeal to you the most before you deposit real money or deposit more than the minimum amount.
Now that you are aware of the different types of casino bonuses that are out there, you can better identify the best casino bonuses for you and your level of play. To learn more about casinos, read our guide about online gambling.