There are hundreds of online casinos on the Internet and it may be extremely difficult to decide which one to join. Gambling platforms compete in design, usability, game library, and of course promotions. Nowadays, players know that it’s not enough to offer a big number of gambling developers or a convenient payment method – they want to spend less and earn more.
That is when bonuses come in hand. They significantly influence the decision of what online casino to choose and in this article, we’ll tell about the most popular bonuses and the terms they are subjected to. With us, you’ll always make the right choice!
Casino Bonus: Definition
Considering how tight the competition in the gambling world is, casinos are doing everything they can to come up with a new and engaging way to attract customers and make them stay. Bonuses, as you understand, are special offers for new and returning players which increase retention and loyalty to the site.
Usually, bonuses are free money in a variety of forms which allows playing more and staying on the platform longer. Below we will tell about the most common types of bonuses on the modern gambling market.
Types of Casino Bonuses
The first bonus players receive is the welcome package. Usually, it comes in the form of a match bonus up to a particular sum. For example, 200% up to $200 will be added to the $100 you’ve deposited. It’s quite understandable that when players go for 100% deposit bonus they want 100% satisfaction and expect more promotions in the future.
That is why the next feature is free spins when players get a specific number of spins on particular slot games. They may be either a part of the welcome package or as a stand-alone bonus. There is also a no-deposit bonus which means that you get free spins or extra cash without funding the account.
Other types of promotions include cashback, referral programs, and loyalty programs. Cashback is a certain percent of the money you’ve lost that returns to your account. Referral programs suggest obtaining cash rewards or other perks for inviting a friend to the casino. Finally, loyalty programs award regular players with multiple perks for making the deposit. They include higher betting and withdrawal limits, bigger cashback percentage, customized gifts, personal manager, etc.
Wagering requirements and House Edge
Wagering requirements are the amount of money you need to play through before being able to cash out the winnings. Usually, it comes in the form of a multiple of the deposit and a sign-up bonus.
For example, you make a $100 deposit and get $200 bonus money. The wagering requirement is x40. Thus, to cash out the winnings, you need to make $300 x 40 = $12,000 in wagers before being able to use the money. Sounds too scary? Don’t worry, some casino operators decide to remove this requirement. For example, BGO, an operator from the UK, doesn’t demand to wager funds before the withdrawal.
Another term to keep in mind is the house edge. It means that the advantage always belongs to the casino. House edge comes in the form of a percentage of every bet which the casino expects to win based on mathematical calculations. For example, blackjack has a 0,5% house edge, slots – 7%, and keno – 35%.
Is There a Point?
While millions of gamblers worldwide chase promotions, there are skeptics, who think that bonuses are no longer necessary. However, surveys and statistics prove the opposite: when players are offered ‘free money’, it’s unlikely that they will search for options elsewhere and will prefer taking their chances with those funds. If they lose, the casino’s profits remain safe and if they win, they will have to spend more time on the platform to meet the requirements. It is a win-win situation.
The Future of Casino Bonuses
In this article, we have introduced you to different bonuses and explained what requirements come along. There are special offers and promotions for everyone: a beginner and a high roller, a new and a loyal player. Even though they are subjected to wagering requirements, gamblers eagerly benefit from extra cash and free spins.
It’s unlikely that any time soon bonuses will disappear. They will continue to evolve offering players new opportunities and ways to benefit. If you want to stay aware of the latest iGaming news and trends, follow our articles.