Guide to Making the Most out of Online Casino BonusesDate 22 Mar 2017 | Category Casino Guides | Author Bruce Raynor
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22 Mar 2017
There are different types of casino bonuses and each online casino operator decides whether or not to offer bonuses to its players, what type of bonuses should be offered and under which conditions. To put it simply, bonuses are free money given by the casino to its players. It should be noted that bonuses aren’t entirely free, i.e. there are always certain conditions that should be met for the bonus to be awarded, cashed out or for the winnings derived from it to be withdrawn.
Why Do Casinos Offer Bonuses?
It makes sense to ask why casinos would simply give away money to players, isn’t their goal after all to make a profit? But the answer is actually in the question, casinos offer bonuses exactly because they know that more players almost always translates into increased profits and offering bonuses has proven to be one of the most effective ways to attract new players.
Furthermore, even though the most lucrative and the most effective bonuses are usually aimed at new players, casinos also offer bonuses for existing players which improve the player’s level of satisfaction with the casino and increase the likelihood that the player will wager more money at the casino in the future.
Different Types of Casino Bonuses
The amounts that are offered as bonus may vary significantly and the specific terms and conditions of different bonuses are almost never the same. However, we can still classify casino bonuses into several categories.
New Player Casino Bonus Types
- No Deposit Bonuses are offered to new players, right after they register an online casino account, before they even make their first deposit. This bonus is very handy because it allows players to start wagering without risking any of their own money. However, this bonus is usually offered under certain conditions. Namely, players are required to wager an amount, multiple times the bonus amount before they can withdraw any of the bonus winnings.
- The Welcome Bonus often called Sign up Bonus or 1st Deposit Bonus, is a bonus offered to the players after they make a qualifying deposit. A bonus amount may be offered on the first, but also on several subsequent deposits. The casino usually matches the amount that has been deposited by the player, either in full, or partially. Some casinos even award more money than the player has deposited. Since the bonus amount matches the deposit amount, this bonus is often referred to as Match Bonus. For the best welcome bonuses it's best to look out for new online casinos as these usually provide the most competitive acquisition offers.
It should be noted that both No Deposit and Match bonuses can also be offered to existing players and most of the bonuses that are offered by casinos in general, fall under the ‘Match Bonus’ category.
Free Spins & Loyalty Bonuses
- A Free Spins bonus is a commonly offered bonus. It is usually expressed in a number of spins that the player can use on a certain game or games. It can be included as part of the Welcome Bonus Package, before or after the player makes the first deposit. It can be offered both to new and existing players. The bonus is also offered under terms and conditions, including wagering requirements.
- Refer-a-Friend Bonus, as the name suggest is a bonus awarded to players who invite their friends to join the casino. The amount is awarded after the friend registers using a traceable link and makes a qualifying deposit.
- Last but not least is the Loyalty Bonus. Most online casinos have loyalty programs and players are awarded loyalty or comp points based on the amount that they have wagered. Then once a player has collected a specific amount of points, the points can be exchanged for cash. These bonuses can often be cashed out immediately and the player isn’t supposed to complete wagering requirements, due to the fact that the bonuses are awarded after a player has wagered through a large amount of money.
A quick word of Free Spins vs Bonus Spins - you might see references to both that under different circumstances at different casinos but unfortunately there is not much consistency. At TheCasinoDB we refer to Free Spins in the context of no deposit bonuses or a bonus that is not allocated directly as part of your deposit. Bonus Spins however are instantly allocated when you make a deposit at the casino.
Keeping Track of Casino Bonuses
Players who have accounts at multiple casinos often can’t keep track of all the bonuses that they have claimed in the past and that can be tricky, since most bonuses include a timeframe in which the players are requested to complete bonus terms and conditions and use the bonus funds. That is why we have developed a special tracking tool that automatically adds all the bonuses that you have claimed. To get started you just need to register an account at theCasinoDB and head over the casino bonuses section to start comparing.
Once you've selected a bonus you like the look of you just need to make sure you are logged in and hit the CLAIM BONUS button as shown below:
Any bonuses you've already claimed will show up in My Bonuses and if you try to claim a bonus you already have in your tracker you'll be notified automatically:
Calculating Wagering Requirements
We already mentioned wagering requirements and it has to be said that wagering requirement is perhaps the most important condition that should be taken into consideration when you’re choosing whether to claim an online casino bonus or not. The wagering requirement amount for a particular bonus, i.e. in your particular situation, depending on how much you’ve received and whether you have to wager through just the bonus amount or the bonus plus the deposit amount, isn’t always easy to calculate.
And if add the fact that not all games have an equal contribution towards the wagering requirement, it is easy to draw a conclusion that one should be a skilled mathematician in order to calculate the wagering requirement. Fortunately for you, we have developed wagering requirement bonus calculator which is very helpful and easy to use.
All you need to do is type in the deposit amount (if any), then the bonus percentage, and whether the wagering requirement is paid on just the bonus or the bonus plus the deposit. After that you can type in the game contribution percentage and the calculator will give you the bonus amount that you’re going to receive, the full amount that you will get to wager including your deposit and the amount that you’re supposed to wager through in order to complete the requirement.
Good and Bad Things to Look Out for
Many would think that the bonus amount is the only, or perhaps the most important thing that a player should take into consideration. And there is no doubt that the maximum amount is important, it is surely better to receive £200 than just £20, but the maximum amount isn’t the only thing that matters.
The wagering requirement is extremely important. Even if you receive a very large bonus amount, it wouldn’t be of much use if you’re not able to complete the wagering requirement. Imagine if the wagering requirement is 100 times the bonus amount for example. Furthermore, the game contribution is also important. If a game contributes only 10% towards the requirement than you should avoid that game.
At some casinos only game with a low RTP percentage contribute towards the wagering requirement fully (100%), whereas all the other games contribute a lot less, often as little as 10%, or even 5%.
Deadlines are another factor. Beware of bonuses that last only for a limited period of time and before you claim them make sure that you will be able to use the bonus in the given amount of time. More importantly, always check how much time you have to complete the wagering requirement. If the time is short and the required amount that needs to be wagered is rather high, then you might not be able to complete the requirement and thus lose all your money. The devil is always in the ‘small print’.
Furthermore, for some bonuses the casinos limit the amount that you can win with your casino bonus. If you manage to win an amount larger than the maximum bonus amount, you will only be paid the maximum bonus amount and the rest of your winnings will be void.
In short, it is best to look for bonuses with straightforward conditions, longer deadlines and smaller wagering requirement. Sometimes a bonus worth £50 can be actually more favourable than a £100 bonus, if the latter has stricter terms and conditions.
How to Find the Right Bonus
You can, of course, register at multiple casinos, but that doesn’t meant that you should claim all the bonuses that you’re eligible to, especially since failing to comply with the conditions or not managing to complete the wagering requirement results in losing the full bonus amount and all of the bonus winnings.
It is best to compare bonuses from rivalling casinos and see which operator offers more favourable turns and conditions and which one suits you more. For example, if you playing Blackjack more than you play Roulette, then you’d definitely benefit from a Blackjack bonus and vice-versa.
On our website, you’ll be able to search through a lot of bonuses and compare them so that it’ll be easier for you to decide. You can even set your own parameters and look only for bonuses that meet your criteria.
Keywords New Casinos, Bonuses