Online casino bonuses
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Ask any punter, and they’ll tell you that the online casino bonus offer was among the main reasons for choosing a casino operator. Online gambling has grown to unprecedented heights nowadays, and bonuses are a significant component of that success.
Lucrative promotions and bonus offers help boost players’ bankrolls. But, despite their popularity, online casino bonuses call for players’ caution and detailed understanding. Here’s the IRL Casino comprehensive guide into the phenomenon that is the online casino bonus. Let’s begin.
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What Are Casino Bonuses?
An online casino bonus is, essentially, free money players receive from casinos. Although the word “bonus” usually implies cash, there are many different types of bonuses.
For example, free spins are just as common as cash bonuses, and players can use them for slot games. While it may seem illogical for casinos to give away free money to players, a casino thrives by getting players to join and ensuring they continue playing.
Therefore, bonuses help motivate players to sign up in the first place.
The casino’s goal is that players like the platform enough to deposit their own money to continue playing while claiming the biggest casino bonuses.
Types of casino bonuses
Welcome/Sign Up Bonus
New players at most casinos are eligible for the welcome online casino bonus. This offer is a prominent promotion usually only available one-time and typically known as a deposit match bonus. Therefore, the sign-up bonus is also known as a deposit match bonus in some casinos.
This bonus offer involves receiving some free spins to use only on a game (usually slots) that the casino specifies. In other words, the spins are exclusively available for a limited game, and players cannot use them for any other titles. The casino will compensate any winnings you generate as a result of the spins as cash to your account. Alternatively, in some cases, the winnings will remain a bonus, but with standard wagering requirements.
This online casino bonus usually only becomes available after claiming the initial sign-up/welcome package. Different operators incorporate this promotion in their prize offers differently. Typical options include basing the reload bonus around the second, third, or subsequent player deposits. For the most part, this bonus works identically to standard deposits.
No Deposit Bonus
As the name implies, this offer allows players to claim bonus money for free without having to deposit funds previously. However, withdrawing this bonus means you will need to wager through it. Additionally, you may encounter operators that won’t allow you to withdraw the prize (or winnings made using it) at all.
This bonus offer is attached to a promotion from a family member or friend. Claiming this bonus requires a unique link, and signing up using this link will cause the casino to reward the person who referred the new customer.
This promotion’s name is self-explanatory and awards players that have been with a casino for some time. There are numerous options for claiming this online casino bonus, and each operator sets up the promotion differently. Typically, triggering the loyalty bonus occurs after playing with the casino for a specific time (a predetermined number of years, months, weeks, or hours).
High rollers are players who play with enormous wager volumes or exceptionally high stakes. Bonuses for these individuals are usually exclusive and tailored around the games they typically enjoy. However, clearing these bonuses requires high-stakes games, and the clearing rates are much higher than usual.
VIP bonuses are only available to certain casino members. The bonus amounts mainly depend on the amount players wager every week or month or the amount they deposit. Compared to bonuses typically available for standard players, VIP bonus amounts are significantly higher.
No Wagering Bonus
The distinctive aspect of this online casino bonus is that it comes with no wagering requirements attached. As a result, this type of instant casino bonus is scarce. Simultaneously, there’s a chance you might encounter it in the form of free spins at times.
Mobile Casino Bonus
This instant casino bonus usually involves offers that you can clear or claim on your smartphone. In this case, the crucial thing to note is which platforms and games are eligible for clearing and claiming via your mobile device because they differ.
Think of the cashback bonus as a refund. This online casino bonus acts as a free trial for the player, where the casino pays back any losses you suffer due to playing the casino’s games. Most of the time, players receive the refunds in cash, and they also keep any winnings they made.
Live casino bonuses are exclusively available to players enjoying Live Games. Most reputable casinos feature a Live section ideal for seasoned punters looking for the traditional experience. These bonuses vary depending on the game but are equally exciting as virtual game promo offers.
Who Can Claim A Casino Bonus?
Most of the time, any player who registers a casino account becomes eligible for some bonus offer sooner or later. The factors that determine if and when the bonus becomes available to the player are numerous. They include deposit sizes, deposit frequency, wagering amounts, how often players log in and play games, session duration, and more.
However, while offers like VIP and high-roller bonuses almost exclusively cater to higher-stake players, standard players are equally entitled. Most reputable operators provide loyalty compensation in reward points that you can later exchange for cash.
Due to international gambling regulations, some casinos withhold bonus offers to players from certain countries and regions. We recommend that you check a respective casino’s terms and conditions section before registering and depositing funds.
How To Claim A Casino Bonus?
Claiming an online casino bonus is a straightforward process, provided you meet two essential criteria. One condition is that you’re of legal age in your jurisdiction, and the other is that you’re from a country where the casino can offer gambling services legally.
Otherwise, there are several steps you should follow to claim the biggest casino bonus available:
- The first step takes several minutes and consists of opening a casino account. While performing this step, you’ll most likely need to verify your newly opened casino account. The verification process means you will need to provide an address and an ID. The usual means of providing such proof involves providing photos or scans of utility bills, driving licenses, or passports.
- The second step starts with deciding which bonus is suitable for you. Most often, you can only claim one online casino bonus at a time. Before doing so, remember to thoroughly go through the terms and conditions associated with the bonus.
- The third step has to do with triggering the offer. Usually, activating bonus offers has to do with depositing funds for the first, second, or third time, after which the bonus amount should automatically land into your account. Also, remember not to play before you’re sure you’ve triggered the bonus and it’s in your account. Otherwise, there is a chance you won’t be able to use it down the line.
- In the fourth step, you need to go into high gear and meet the terms for clearing the offer. The fifth step is effortless and only involves tracking how much of your bonus you need to clear and how much time you have left.
Can You Make Money Off Online Casino Bonuses?
Yes, you can absolutely make money off of online casino bonuses.
To demonstrate, let’s observe a simple example. Imagine you can claim a 100% deposit match bonus of up to $25. Let’s also imagine that there is an 8x wagering requirement attached to the offer. This WR means that, before getting the bonus cash, you need to play for $200.
In our example, we’ll use the game of blackjack to explain how to make money from this casino bonus. Because blackjack has a house edge of 0.5%, the calculation states $200 x 0.5 = $1. In other words, $1 is what you could expect to lose in the game. Subtracting $1 from the $25 bonus means you’ll have $24 remaining. Furthermore, you can withdraw these $24 as profit at the end of the eight games. However, the total amount you could draw in this scenario is $49 ($25 + $24).
Simple enough, right? Not really. Game variance is the one factor that can complicate similar calculations. Casino games always involve variance, and standard deviation is how we measure variance. For instance, imagine that the previously mentioned blackjack game had a 1.15 standard deviation. In this case, the amount you could withdraw after the eight games would be somewhere between $7.75 and $40.25.
So, how can you find a sure way to know if an online casino bonus is favorable or not? There is – use an online calculator designed specifically for this purpose. Good luck!