What are Online Casino Bonuses and How Does It Work?
Are you new to online casinos? Or, are you interested in seriously getting into it? If yes, then the first thing you should understand and check out are bonuses. These are popular methods that online casinos have used to attract new or constant users to keep them committed to their website or application.
And, with the large amounts offered, it’s no wonder why such a method is effective. But, there is more to casino bonuses that you should understand. To help you, we will discuss what they are and how they work.
What are Online Casino Bonuses?
A casino bonus is a “free” offer that entices you to play for a specific online casino. It is usually tied to certain conditions and is almost always set up with a maximum and a percentage.
However, it works in different ways from one casino to another. For instance, there’s an online casino that offers a first deposit bonus at a 300% match up to $3000. So, for every dollar you put in, you can receive another dollar as a bonus.
Also, most bonuses are offered in such a way that you won’t be able to cash out money unless you spend a certain amount on a casino. Some come in the form of slot spins. To help you understand more clearly, here are the different types of bonuses and an explanation of how they work:
1. Play-only Bonus
This is the most common type of bonus. It’s a type of bonus money that will be kept separately from your real money. Meaning, you can only use it to wager, and you can never withdraw it. But don’t worry. Because if you win, your original bet returns to your bonus balance, and your winnings will go to your real money balance.
Now, before you can withdraw anything from your real balance, you should be able to meet the requirements – to which are always the same: you need to wager a specific amount of money before a successful withdrawal.
2. Reload Bonus
A reload bonus is similar to a Play Only bonus. Only, you can redeem it on any deposit and not just on your first deposit. To attract you to keep depositing and playing, a casino will offer you a reload bonus either monthly or weekly as soon as you make an initial deposit.
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3. Free Play Bonus
This is a type of bonus that casinos give you immediately after signing up. It’s “free” money that will be sent to your account even if you haven’t made a deposit.
However, before you can withdraw this money, you need to wager it 50 times or more. Usually, such bonuses can amount between $5 and $25. And if you’re wondering how casinos can afford them, it’s because 99% of players lose it while trying to reach the requirement needed to withdraw.
4. Withdrawable Bonus
Here’s a type of bonus that online casinos rarely give out. It is bonus money that will show up in your account after you make a deposit. So, let’s say the casino offered 100% up to $200 bonus and you deposited $200 to your account, you would immediately have $400. But, the thing is, you can only withdraw the bonus money if you clear it.
Almost all casinos will require you to bet at least 20 to 50 times the total amount of your deposit and bonus before you can withdraw the bonus money.
So, following the example of $200 in deposit money and $200 on bonus, you will have to make between $8,000 to $20,000 in wagers to be qualified for a withdrawal. Even when winning and losing bets are accounted for, it still takes a lot of play to reach such amount, right?
Other Factors to Consider
Other factors affect casino bonuses too, and they are:
- Time requirement: Most bonuses have a time restriction, and once you don’t clear them within a particular timeframe, they will expire. So, be sure to check the time requirements before starting.
- VIP: Most casinos offer their VIPs and loyal players more bonuses and rewards. If you’re a high roller or a frequent player, you might be interested in becoming one.
- Limited games: Some casinos limit the games you can play to achieve the set clearing requirements.