Online casino bonuses are simply efforts by an online casino to either attract a first time deposit from a player or to keep players loyal to their casino. Online Casino Bonuses can be a great way for a player to gain some financial leverage with the amount of money they have.
How does an Online Casino Bonus Work?
The most common bonus you will see as a new player is the deposit bonus. You will usually see this type in the form of the online casino advertising something like "$555 free money!" While this money is freely given to you it is always tied down with terms and conditions you must meet before withdrawing. The bonus terms and conditions are referred to as wagering requirements. Obviously you're not going to be able to deposit $555 into a casino, have them match that with a bonus, and then expect for them to simply let you cash out $1110 before you meet some playing requirements.
Types of Online Casino Bonuses
The most popular forms of Online Casino Bonuses are match bonuses, no-deposit bonuses, cash-back bonuses, and refer a friend bonuses. Sign-up and Loyalty bonuses always fall under the category of "match bonuses".
Match Bonus Example: 100% up to $200. - In this circumstance the online casino is saying that if you deposit $200 or more, they will give you up to $200 of free bonus money to play with. This bonus is a 100% match of whatever you deposit with the maximum deposit being $200. Therefore, if you only deposit $45 then the casino will give you $45 of free money to play with.
Match Bonus Example: 50% up to $400. - the less than 100% bonus is very common among loyalty bonuses that occur frequently. With this particular bonus, the online casino is saying that if you deposit $400, they will match it 50% with free bonus money. With this bonus you will get a maximum of $200 free money.
No-Deposit Bonuses are typically a very low amount of money. Casinos have to measure the risk versus profit margin of offering these bonuses. Therefore the amount of money is related to the effectiveness of the promotion to attract new players as well as add reputation to the casino's good promotions. With a no-deposit bonus you will typically create an account and the casino will give you a small amount of money to play with for free. You will not be risking any money to gamble with this free money but generally terms and conditions of no-deposit bonuses require the player to meet standard wagering requirements before withdrawing. Most of the time casinos also make players make a first deposit before they can withdraw the winnings they earned from the no-deposit bonus. Essentially, a player will have to be extremely lucky to benefit from a no-deposit bonus.
No-deposit bonuses are not limited to offering free money but are also sometimes seen in the form of "free plays" or "free spins". Its all essentially the same thing and all bound by particular terms and conditions attached to the promotion.
Large No-Deposit Bonus
The large no deposit bonus is a relatively new concept where casinos actually offer players a large amount of money for free but put time restrictions on it. For example, at jackpotcity casino at the time of writing this article, new players are marketed with a massive €500 Free no-deposit bonus. With this bonus jackpot city gives the new player €500 in free credits to play with for 30 minutes.
This is a great promotion but when looking into the terms and conditions of the bonus, you realize that you have to be extremely lucky to get anything out of the bonus. The reason is that standard wagering requirements apply to the bonus. What this means is that you will have to wager 30x the amount of €500 within 30 minutes! that means that in 30 minutes you have to wager €15,000 without going broke. Furthermore, if you accomplish that, then you will have to make a first deposit at the casino and meet wagering requirements of a sign-up bonus before withdrawing any winnings. This is a fun bonus type because you can play high levels and hope to get lucky, but you can see how the casino isn't going to be losing money on this promotion because most people will not be able to meet the wagering requirements before opting to withdrawal.
Loyalty bonuses as mentioned above are typically a match bonus meant to reward players for loyal play. Loyalty bonuses generally have alot more elasticity in them then the first deposit bonus in terms of wagering requirements. Most of the top online casinos are able to offer frequent loyalty bonuses which make them a good place to call home.
Refer A Friend Bonuses
refer a friend bonuses simply occur when you refer a friend to play at an online casino. This bonus typically ranges from $50-$100 depending on the casino. The limitations on this bonus are generally that the friend must not already have an account. The friend simply creates an account and makes a deposit at the casino. Sometimes, the friend must meet some reasonable wagering requirements before the bonus is awarded to you.
Best Online Casino Bonuses
At casinoreviews.com we rank the best online casino bonuses in terms of a combination of considerations dealing with quality and diversity of bonus offers.