If you are only getting into online gambling sites now, you missed out on some pretty good online casino bonuses. Back in 2006, the online casino community was so flush with cash they decided to give away tons of crazy bonuses without the need of strict requirements to protect themselves. People obviously abused the hell out of it up to a point where there were several websites purely dedicated to bonus hunting. Players would deposit money, quickly clear their deposit bonuses while increasing their bankroll, withdraw their funds and stick it into another casino for the process to be repeated.
Online casinos realized how much money they were losing and clamped down on the bonus hunting crowd. Online casinos were not only losing money to bonus hunters, but they were also losing money to those who sent this type of traffic. Due to this, many chose to take precautionary measures to protect themselves, but also to protect depositing players who play in good faith and not only to get a bonus. They manner to which bonuses are structured today is very different and these are explained to you within this article, many of which are to your advantage.
Legitimate online casinos decided to create requirements towards the number of times players wagered amounts awarded in the form of a bonus. They also included additional terms and conditions before the bonus money would be given to you. The short answer is that to cash out successfully, you are required to wager your deposit and bonus but some games, such as craps, normally do not count towards wagering requirements. If you come across a deposit bonus that looks too good to be true, after examining the terms and conditions carefully, you should take extreme caution as online casinos no longer provide this anymore. Rollover requirements are coupled with deposit bonuses, and you can easily accept the bonus, however, if you are more concerned about cashing out at any given time and do not feel like meeting the wagering requirements, you have the option to refuse the bonus.
Different Types of Deposit Bonuses
Welcome Deposit Bonuses
The most common form of deposit bonuses offered by online casinos are known as welcome bonuses, sign up bonuses, new player bonuses or 1st deposit bonuses. They are commonly presented in the form of a 100% match up to a certain amount. For example, most online casinos offer a 100% welcome match bonus up to $500. This simply means that should you deposit $500; you will receive $500 in bonuses free to give you a total of $1,000 to play with. There are also different levels of welcome bonuses ranging from 50% up to 500% but the most common remains at 100%. Anything above 200% should be carefully looked at as it might contain several restrictions when it comes down to withdrawing the bonus itself.
Monthly Deposit Bonuses
Monthly deposit bonuses are also referred to as reload bonuses or loyalty bonuses. You will receive a bonus on a monthly basis to keep you playing. For example, you will receive 100% match up to $100 on the first day of every month. Furthermore, depending on your previous month’s activity, most casinos will offer you a monthly match bonus based on your deposit value and calculate a match offer that suits your deposit ratios. Monthly bonuses are usually not as high as welcome bonuses, but again this all depends on your activity.
Payment Method Bonuses
Online casinos offer a wide selection of banking methods for deposit and withdraw purposes. Most players tend to use their credit cards to transfer funds into their casino accounts, and this creates a problem as online casinos are often restricted by credit card companies not allowing online casino transactions. Online casinos, therefore, want to encourage their players to use a specific payment method to avoid unnecessary hassles down the road by registering an e-wallet payment method. To make the transition from using a credit card to an e-wallet account more enticing, an online casino will offer you an additional bonus coupled with a welcome match bonus for using the specified payment method. A payment method bonus is not very common and is normally advertised when you are having difficulties making a successful deposit to your casino account.
High Roller Casino Bonuses
Most online casinos want to attract valuable players who deposit more regularly and in turn play more frequently. These types of players are known as VIP’s, whales or high rollers, and they receive larger bonus amounts for their higher deposits. Apart from being offered additional perks and incentives including tickets to sporting events, all inclusive cruise holidays and a weekend away to a holiday resort, a 100% monthly deposit bonus up to $100 will not appeal to a VIP player. Due to their regular high volume deposits, online casinos will need to create a tailor-made offer per their activity. For example, a 40% reload bonus up to $4,000 is far more eye catching to a high roller and more beneficial to an online casino as they will promote the exclusive offer for a limited period. Thus, forcing the VIP player to purchase more in a shorter time frame.
Refer-A-Friend Casino Bonuses
Besides welcome bonuses for newly registered players and exciting weekly promotions for existing players, almost every online casino out there has a unique refer a friend bonus structure. A refer a friend bonus is designed to acquire new players using existing customers. This is beneficial for both you and your friends as you can profit from these special type of casino bonuses. For example, an online casino will advertise that you will receive a $50 bonus when you refer 5 of your friends to the casino. All your friends need to do is deposit a certain amount, and you will receive your $50 bonus.
Deposit Bonus Advantages
One of the greatest online casino advantages is the different types of deposits bonuses you will receive when joining a particular online casino. Although they can vary in type and size, it’s always a treat knowing you will be rewarded with additional bonus funds when making your next deposit. There are no advantages offered at a land based casino, so you will always be spending your own money without any additional perks.
Loyalty points is also an extremely useful benefit at online casinos, rewarding you not for the amount you win, but for your loyalty to that casino. For instance, if you are on a losing streak, you will continue to accumulate loyalty points that you can later use to win prizes or purchase more casino credits. The more you play at an online casino, the more loyalty points you will accumulate to claim more rewards. Land based casinos provide certain comps to players in the form of dinner, drinks or a hotel upgrade. The online casino advantages outweigh the comps in a land based casino completely.
An online casino benefits from using a wide range of payment options whereas a land based casino will only accept a limited amount of payment methods for you to purchase casino chips. This means while playing at an online casino you will be able to choose a secure deposit and withdraw option you are comfortable with.
Another deposit bonus advantage is the value for money you receive instead of playing at land based casino. To visit a land-based casino, you will first need to get to one. This involves additional costs, time and money. Online casinos can be accessed from anywhere in the world, and the extra money you saved can be used to claim a match bonus where you will receive a bonus for the money you would have spent on getting to a land based casino.
Lastly, online casino bonuses have become an expected element and can provide you with extra credits. These bonuses are offered in different forms and offer you an excellent way to sample the selection of entertainment at the casino.
How to Claim
To claim a deposit bonus, you should register a real play account at an online casino and make a deposit. Some casinos, especially those that offer multiple deposit bonuses, may require you to input a bonus code, which is a combination of letters and numerals. This is to let the casino know exactly what deposit bonus you will be claiming.
If you are signing up through an affiliate site, you may get a larger bonus. In this case, you must provide a bonus code provided by the affiliate site to let the casino know exactly which affiliate has referred you. Online casinos also advertise bonus offers on TV channels or casino magazines. If you are claiming these bonus offers, you should provide the bonus code that accompanies them.
Deposit bonuses sound so wonderful that you often ignore the fact that you are associated with wagering terms and conditions. Usually, these terms are provided in the fine print, and you should make an effort to read and understand them.
Deposit bonuses are not free money given away by the online casino. You cannot withdraw them but have to use them to play for real money. Deposit bonuses and real money prizes won while using them can be withdrawn only after playing through the bonus amounts or the bonus plus deposit amounts a certain number of times and within the deadline given by the casino. You should therefore accept a deposit bonus only if you can agree with its wagering terms.
Online casinos owe their popularity to the deposit bonuses they offer. These bonuses serve the double purpose of attracting new customers and retaining existing ones. Deposit bonuses are gifts of cash given away to customers who load their accounts mainly to encourage them to continue making deposits and play for real money.