Being a part of one of the fastest-growing industries in the world has its perks, but also risks. The online gambling industry is shattering all projected growth numbers and reaching heights undreamed of just years ago. The global pandemic has got a lot to do with it, but a lot of it is due to the fact that people simply love gambling. Online casinos have been reaping the rewards of that situation, but such a rich cake has attracted a lot of sharks looking for a piece, and threading the waters of online gambling has become perilous. One thing all online casinos are always looking for is new players. They have figured out that the best way to attract them is to throw money at them, in a form of various bonuses. However, there are so many types of casino bonuses that claiming them has become somewhat challenging.
Types of Casino Bonuses
Before we go into detail about casino bonuses, we need to clarify the major difference between the two types. Generally speaking, the major difference between all bonuses is whether they are sticky or non-sticky kind. Sticky bonuses, as the name would suggest, stick with the casino. You can’t transfer them to your bank account and you can only spend them on wagers. Needless to say, they aren’t as popular as non-sticky bonuses. With them, you can do whatever you want. Spend them, save them, it’s up to you. Unfortunately, they are fairly rarer than their sticky cousins. Sticky bonuses, on the other hand, are usually more generous. It isn’t unheard of for a sticky deposit bonus to be 200% or even 400%. Translated to numbers, it means you will get another $400 on your initial $100 deposit. That way, you can at least enjoy them for far longer and have fun playing. After, that is what the majority of players are after.
Some Bonuses Come with Strings Attached
One of the first things new players think about when they get their bonus is how to transfer it to their bank account. As it turns out, casinos have already thought about that. After all, they wouldn’t be in the business for long if they allowed such a blatant loophole to exist. The thing that stops you from collecting a bonus and simply withdrawing it and then doing the same thing to another casino is called wagering requirements. Basically, it stipulates how many times you have to wager a deposit before making a withdrawal. It can be anything, from x5 to x 50 in some cases. If it is x10, for example, that means you have to make wagers in the total amount of $1,000 for a bonus of $100. Only when you have done that, you will be allowed to take your money out. That is why some players opt-out of bonuses, as they prefer to use their money without such limitations.
Free spins are a popular type of bonus with both players and casinos. They don’t cost casinos anything, so they dol them out generously, usually in batches of 50 or even 100. Players like them because they give them a chance to try out slot machines without spending their own money. For instance, if a casino has installed some brand-new skill-based slots and you aren’t sure how they work, free spins will let you test them and figure out the rules. Free spins can be limited to a single slot or slots made by the same developer. If there is a promotion of new games, the casino will give plenty of them prior to the unveiling, making sure enough players can try them. Sometimes, they will give universal free spins that can be used on any machine. This is usually done as a part of a bigger package.
Deposit Bonus and How to Claim It
A deposit bonus, also known as a matching bonus, is the casino’s way of rewarding you for giving them your money. They are often expressed in percentages, ranging from 100% to 400% for some types, but they usually come with an upper limit. Some casinos prefer lump sums, so you will get, for example, $50 for every $100 of deposit. Whatever the sum is, make sure to read the terms and conditions carefully before accepting it. Some limitations can be quite strenuous, making it not worth your while to accept the bonus, even though it looks promising at the first glance.
Welcome bonuses are intended for new players. You qualify for them by virtue of making an account. You don’t even have to make any deposits. Since they are easy to obtain, they are usually more modest than deposit bonuses. Their goal is to get you started in a new casino, so you will get some money, maybe $20 or $30, and the casino will throw in some free spins for good measure. It won’t make you rich, but it will give you an opportunity to get to know the casino and see whether it is a good fit for you. If not, you can always make a new account in a different casino and get a new welcome bonus. If you decide to stay, eventually you will have to commit some of your own money to the game.
Cashback bonuses are an illustration of just how desperate casinos are to retain players. They will even give a percentage of the money you lost playing back to you. It won’t be a whole amount, in fact, it won’t even be close to that, but even 20% or 30% you get back can mean a lot. To qualify for a cash-back bonus, you will have to jump through some hoops, though. Usually, there is a minimal amount of money spent on wagers required, as well as a certain time for which you have to be a registered member. In other words, if you play for [pennies and you have just made an account, you probably aren’t eligible for this bonus. Depending on a casino, the bonus can be calculated on either daily or weekly basis.