In essence, casino bonuses are free money, free spins, complimentary chips or any other extra that a player can receive from a casino with his deposits. Usually, they are not give out for free (with rare exceptions) and in order to receive a casino bonus, players have to either make a deposit or complete a task in the casino such as wagering a specific amount on all or just on one particular game.
There are many different types of casino bonuses such as deposit bonuses, free spins or cashback bonuses that it presents sometimes a challenge to understand it all. In this article, we take a closer look at the most common types of bonuses.
Just as varied are the terms for bonuses which often weaken the real value of a bonus, hence, €100 might not be worth the full one hundred in the end but it will be some extra money for the player that will be somewhere between zero and the full amount. Wagering requirements are often steep and players don’t always get through it but keep in mind that especially if you are planning to play more, you would still be spinning on slot, so why not wager a bonus at the same time.
With higher stakes wagering, the player’s profit usually increases as getting through the rounds can deliver big wins. Will cover wagering in more detail in a future article of our Book of GMBLRS.
You might have asked yourself why a casino is offering bonuses when players can benefit from them? The answer is simple, competition. The number of online casinos has literally mushroomed over the last years leading to fierce competition to attract players. It can prove rather difficult to get players not only to sign up but also return to a casino unless they have already a stellar reputation and an attractive package.
At the end of the day, bonuses are a marketing tool to lure a player to the casino, very much like a petrol company can sell gas at a discount or a grocery store puts low-cost bulk candies in a magazine ad; the crowds will come and usually buy more. In the case of a casino, players might return and spend their own money without a bonus.
The very reason why new players get a bonus that is usually better than the average promotion is to get them to sign up and make their first deposit. A common misconception about casino bonuses is that the terms are drafted in such a way that a player cannot win. We dedicated an entire article about this myth simply because bonuses can most definitely benefit a player, starting from an extended gaming experience to more chances of winning and even being able to make a profit. Very often, casinos regularly offer bonuses to their old customers. These are on average slightly less valuable, but especially VIP players who play a lot usually receive bigger bonuses with better terms.
Worth noting is that a bonus is not really worth the entire bonus amount because of the terms and coniditions attached to it. On the other hand, it is not something the casino can benefit and will be in the long run something between zero and the actual bonus amount. In some cases, bonuses are not profitable for the player, e.g. a 10% bonus with a wagering requirement of 20x deposit + bonus or a bonus with a maximum conversion limit of €500 can make it difficult to turn out a profit.
At some casinos, the terms and conditions are very comprehensive, yet it is imperative that you always read them for each bonus offer. The terms are mainly to protect the from bonus abuse as otherwise players would simply deposit, take the bonus and withdraw it altogether instantly. It would be a sure way for a casino to go bust in a short period of time. To find out about casino promotions and their potential pitfalls, read this article to help you avoid breaking rules and play your bonuses in the best possible way. Some casinos have too restrictive terms, something we will cover in a future article.
In closing, casino bonuses stand for straight deposit bonuses, free spins, cashback and other additional benefits that a player receive from a casino, usually after a deposit. They might be seen sometimes in a negative light but in reality they offer longer playtime, bigger bankrolls and often extra wins and profits.
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