The online gambling market is very competitive due to the sheer number of online casinos in existence competing against each other for the same customers. Therefore, you should not be surprised that almost all online casinos offer bonuses to customers in order to entice them to join. There are a number of bonuses that online casinos commonly offer to customers and this article will attempt to explain how these bonuses work so that you may be better equipped at taking advantage of the bonuses on offer to you.
Different Types of Bonuses
Detailed below are some of the most common types of bonuses offered by online casinos:
- Sign-up bonuses: a sign-up bonus if offered only to new customers and the amount and type of bonus can vary greatly. Whilst these bonuses are often advertised as being ‘free’, they do require players to first make a deposit of their own money. Most sites offer a percentage of a new customer’s first deposit, for example 50% of an initial deposit. If a new customer deposits $100, the site provides a $50 bonus. When searching for the best bonuses on offer it is important to read the fine print to understand how a particular site rewards their new customers. To withdraw the bonus you have to meet certain wagering criteria that involve some risk.
- Reload bonuses: reload bonuses are awarded every time a player deposits more money into an existing account. Sometimes these bonuses are available immediately, whilst others are provided in the form of bonus points.
- Referral bonuses: these bonuses are issued by some sites when an existing player refers another player to the site through the use of unique codes. Usually the referred player has to wager a fixed amount of money before the bonus money is released.
The majority of sites do not allow the withdrawal of bonuses until a player rolls over the bonus at the site. The criteria for being able to withdraw casino bonuses are known as ‘wagering requirements’. A site may require that the bonus must be rolled over 10 times before the player can have access to withdrawing the money. For example, if the bonus is $100 and it must be rolled over 10 times, then the player must wager $1000 before being able to withdraw the bonus.
It is important to read the terms and conditions when researching bonuses in order to understand how each casino operates in regards to bonuses.
Certain games are often excluded from bonus offers simply because some games have low house advantages and the casinos run the risk of losing out in the long run. Commonly, games such as roulette, baccarat and craps are excluded.