One of the great things about gambling online is that there is a lot of competition between casinos to win customers. To entice potential gamblers and set themselves apart from competing sites, an online casino will offer a welcome bonus to get you to sign up. Just by looking at the many bonuses, you will see that they appear to be very attractive incentives. However, there are many different types of bonuses, and some are definitely better than others.
In trying to get the best value for your money, you will want to compare the different bonuses and find the ones that will work best for you. To do this, you will need to have an understanding of what these different bonuses offer and how they work.
What is a welcome bonus?
If you have ever been to a land-based casino, you may have noticed that there is no welcome bonus for new players. You might be able to sign up for bonus program, but they are not going to give you cash just for walking the door. Part of the reason for this is that they do not know how long you are going to stay or the level of action that you will bring to the casino.
So why do online casinos offer these bonuses? The first motive is to attract new customers that might think about going to another site. However, there is more to it than this. A land-based casino has a broader experience that they can offer. They have restaurants, shopping and shows. With these other incentives, they can attract and reward players in ways that an online casino cannot.
Almost all of the top casinos online will offer some form of welcome bonus. The types of bonuses and the value will vary, but most online casinos know that they have to offer rewards for new players. In addition to there being different types of bonuses, the conditions of the bonus will vary. These are all points that you need to understand if you want to find the right bonus for you.
The matching deposit bonus is the most common form of welcome bonus that you will find. With this, the casino agrees to match a percentage of your first deposit. With most of the top casinos, the match rate will be 100%. That said, there are some conditions that will apply.
As an example, the casino might offer a 100% match for up to $500. To qualify, they will usually set a minimum deposit level, and you will have to meet certain playthrough requirements. If you were to deposit $500, they would match that with an additional $500, but you would have to engage in a certain amount of activity for the bonus cash to be yours.
The fixed bonus is much simpler, and they can be the better value for players that have a smaller initial bankroll. With this type of bonus, the casino agrees to a fixed bonus for all players that make a qualifying deposit.
As an example, the casino might have a fixed bonus of $100. To qualify for the bonus, the player will likely have to make a first deposit of a certain size. Usually it would be in the area of $50-75. Obviously, this is a better value if your starting bankroll is a bit small. However, if you have more funds to start with, the better deal is to go with a matching deposit bonus.
No Deposit Bonus
Many casinos will offer a welcome bonus that requires no deposit to claim. These bonuses are pretty small, but they can be good for people that are looking to test a new casino without risking any of their own money.
As an example, the casino might offer new players something like $10 just for signing up. All you have to do is create an account, and maybe enter a promotional code to claim the money. The best part about this type of bonus is that they are usually a part of a multi-stage promotional program that is designed to get new players.
At first, the casino will offer you the no deposit bonus to get you to sign up. After you have used the money or you have played for a few days, they are likely to send you an offer for the first deposit bonus. It’s the best of both worlds. You get to test the casino with some of the house money, but you can still claim a welcome bonus if you decide to stick with it.
When you consider casino bonuses, you need to understand that they are not just giving money away. Every bonus has a set of requirements that must be met in order to keep the money. These requirements are known as the wagering or playthrough requirements. Usually, the requirement will be a multiple of the value of the bonus.
As an example, let’s say that a player receives a $200 bonus for making a first deposit of $200. Now, the money that the player deposited is theirs, but they need to make bets that total up to a certain value to claim the bonus cash.
In this example, we can say that the playthrough requirement is 30x. This means that you need to make bets that are 30x the value of the bonus – in this case, that would be $6,000. Win or lose, the bets will count toward the requirement, but you must make bets that reach this milestone before the bonus money is officially yours.
In addition to these types of bonuses, there are some other rewards that you might find. Some casinos might offer a tiered bonus, where they match a percentage of your first three deposits. Another common bonus is the package bonus. With a package bonus, they might offer the player some free betting cash and free spins or entry into a tournament. You might also find exclusive bonuses that come from referral sites. A popular referral site might be able to offer players an additional bonus feature for signing up through the affiliate link.
If you compare the welcome bonuses and understand the different ways that they might work, it is not hard to find the best value for your money. When you are looking to sign up for a new casino, take the time to learn about the welcome bonus and make sure to read about all of the requirements. All of our reviews will lay out the different bonuses on offer and how they work.