All casinos offer some kind of bonuses. It is a rarity, if not an impossibility, to find an online casino with no bonus offered. But what are they and how do you use them?
Today, let us talk about the most common casino bonuses, how you can use them, and what the common terms and conditions are.
Top 3 Casino Bonus Types
There are many kinds of bonuses that casinos offer to their customers. Among the most popular ones are a no deposit sign-up/registration bonus, a welcome package, a deposit/match-up percentage, a refer-a-friend offer, weekly cashback, loyalty points, and many more. Below, we’ve explained the most common offers.
This is extra money your casino account is credited with, based on what you deposited. It is always expressed as a percentage. If the match-up bonus is 100% and you deposited $100, you will receive an extra $100. Now your betting money is $200. The match-up bonuses are always available to new and regular players, but the percentage usually depends on the deposit amount and/or your VIP status in the casino. There higher it is, the more playing money you’ll get.
Free spins are bonuses that you can use on slot machines. Typically, casinos would give you between 20 to 50 free spins if you register. Free spins may be used on all slot machines in the online casino’s lobby or on selected games only.
Each free spin has a currency value—usually the lowest possible bet, but a bet for all lines. Such a bonus usually comes with some terms attached, like a wagering requirement or/and a max cash out limit. Free spins are great if you love slot machines, as you can win prizes without investing your own cash.
A cashback bonus is free money that players usually receive every Monday (or any other day of the week determined by a casino). The amount of money is based on the net losses of the player’s previous week of gaming activity.
The cashback can be a fixed value or a percentage value. For percentage values, casinos can give as much as 10% of cashback based on how much you lost the previous week.
Casinos have different formulas as far as cashback is concerned. A net loss is the most common basis, which is equal to the amount of money you deposited minus your current balance. Then, 10% will be based on the result of that equation.
What is a Wagering Requirement?
A wagering requirement or playthrough refers to the amount of money you have to bet from your bonus. You have to meet this requirement before you can withdraw the bonus and the winnings.
A wagering requirement is expressed in multipliers. If the playthrough requirement is 35x and your bonus is $100, then you have to bet $3,500 out of the $100 that you received. This condition is in place to ensure that the casino’s promotional offers are not abused. You have to meet this requirement within a specified deadline. Otherwise, your bonus and all your winnings will be invalidated.
There is also another common rule associated with this—the max bet rule. Casinos impose a maximum bet of either 5% of the existing bonus balance or $5 per bet. If you exceed that, the casino will forfeit the bonus money or free spins and the winnings from them.
Bonuses are great because you can play free slots or other online casino games with a bigger playable balance that you deposited. You can even chance upon bonuses that require no deposit. Before you claim a bonus, you have to read the bonus terms because breaking these rules may cause the forfeiture of your winnings.