Casino bonuses are offered to players at online casinos to either induce them to join the casino or to continue wagering there. Bonuses that are offered to players to induce them to join are referred to as welcome bonuses. There are many different types of casino bonuses and the more common ones are being discussed in this article.
Online Casino Bonus types
Online casinos tend to offer several different bonus types in order to draw in new customers, and to get existing customers alike to deposit money.
Welcome Deposit Bonuses
Welcome deposit bonuses are the casino bonuses offered to new players after they have made their first deposit. Two parameters are usually mentioned while specifying the welcome deposit bonus. The first is the percentage of the deposit that is given as the bonus. The second is the upper limit of the bonus. A typical welcome deposit bonus would be 50% of the deposit subject to a maximum of $100. Under this bonus if the player had deposited $100 he would get a bonus of $50. If the player had deposited $300 he would not get 50% of this because of the upper limit imposed. He would get only $100. Bonuses that offer 100% of the deposit are also referred to as match bonuses because the casino matches the deposit made by the player.
Welcome No Deposit Bonuses
Welcome no deposit bonuses are casino bonuses offered to new players without their having to make any deposit. Some online casinos offer small amounts to the order of $20 as bonus to new players to enable them to try out the games without investing their own funds. If the player does not want to play further he simply forgoes his winnings from the bonus and leaves. However if the player wants to withdraw the winnings from the no deposit bonus then he has to make some financial commitment to continue playing.
The other type of welcome no deposit bonus is the free play bonus. In this bonus players are given a certain sum for wagering on specified casino games. They have to complete the wagering in the allotted time. Usually any amount they win greater than the initial amount given to them is theirs to keep. However, there could be some conditions that the players have to fulfill.
Reload bonuses are deposit bonuses given to existing players at an online casino in order to induce them to continue wagering there. They are specified like the welcome deposit bonuses as a percentage of the deposit subject to an upper limit. Different online casinos have different methods of offering reload bonuses. Some online casinos offer them on every deposit made by the player but limit the overall reload bonus allowed per month. Other online casinos offer reload bonuses on the first deposit of the week or on the first deposit of certain specified days. Usually the reload bonuses are much smaller than the welcome bonuses.
Refer A Friend Bonuses
The most effective promotion for an online casino is the word of mouth promotion. If an online casino is recommended by someone known to a player, then that player is more likely to sign up at the casino. Therefore online casinos offer bonuses to existing players for referring their friends. These bonuses are offered after the friend registers at the casino and it makes a minimum deposit. The bonuses are offered as a fixed amount per friend referred. Some online casinos limit the number of friends a player can refer.
Some online casinos compensate players who have made losses at the casino. They do this by returning a percentage of the losses made. This is referred to as a cashback bonus. Some online casinos restrict the offer of cashback bonuses only to VIP players. Others impose a limit of a minimum loss over a specified period of time for the player to be eligible for the cashback bonus. Like all of the casino bonuses, cashback bonuses also have an upper limit.
Casino bonuses are meant for wagering purposes only. This means that the bonus amount cannot usually be withdrawn and players are entitled to only the winnings from the bonuses. This is why casino bonuses are often referred to as play bonuses. Before the winnings are withdrawn the deposit and the bonus have to be wagered a minimum number of times. This is the wagering requirement or the play through requirement. Online casinos usually specify that the wagering requirements have to be met on games like slots, scratch cards and keno that have comparatively higher house edges.