Online casino operators offer a huge number of bonuses nowadays for both existing and new players. If you know where to look, casino bonuses can be of tremendous value to players, but it quickly gets confusing with such a variety of different types on offer and at times complex wagering requirements to go along with it. In this article, we’ll discuss the most common types of casino bonuses, their features, and how to go through the terms and conditions with a fine tooth comb so that you can evaluate whether it’s an offer worth doing. Before we go through the different types of bonuses though, there are some terms you need to become familiar with:
Wagering requirements
Wagering requirements refer to the number of times a player needs to turn a casino bonus over to turn it into real cash. For example, if you have a bonus of $5 and the wagering requirements are x10, then this means that you need to turn over $50 to be able to withdraw your winnings from the casino. A balance is often struck here between players reducing the volatility by minimizing their stake per spin, and the time it takes to turn over such bonuses. Obviously, the higher the wagering requirements are, then the lower the likelihood that such a bonus would be of positive value to the player.
Return to player (RTP)
If you’re trying to figure out whether a bonus is a good one, then you need to understand wagering, and you need to understand RTP. The RTP percentage is the average amount of money that a player will get back upon turning over $100. For example, if a slot machine is 96% RTP, then on average they will get $96 back. These are averages of course, and there can be huge variations from player to player.
Bonus Types
Free Spins
Free spins do what they say on the tin. This will depend on the promotion of course but sometimes free spins are limited to a single slot game, whilst others will apply to the majority of online slots within a platform. A common free spin promotion is for operators to offer a player a certain amount of free spins once they have added a depositing mechanism. Sometimes wagering requirements will apply to the winnings of those spins, and other times no wagering requirements will exist meaning that the player is free to withdraw any winnings in cash. Another free spin promotion is the wager x get x spins promotion. For example, a platform may be promoting a particular game and will run a promotion for bet $20 on the game and get 20 free spins. Free spins can be a great way to get value out of playing online casino games.
Deposit Match
Deposit matches are a common way for online casino websites to entice new customers to sign up for their platform. A promotion such as deposit $50, get $50 bonus may exist for example. As always, it pays to read into the terms and conditions for such a promotion. What are the wagering requirements for the bonus? Does your deposit become combined with the bonus and have to be turned over along with the bonus or will both money balances remain succinct until the wagering requirements of the bonus are fulfilled?
Deposit matches can be excellent, but they can also be highly misleading. Read the terms and conditions!
Cashback bonus
Cashback bonuses are often offered for existing players and are one mechanism for the online casino website to reward loyal customers. Sometimes a platform may offer a cashback bonus for a particular day of the week. For example, they may earn up to 5% cashback on net losses up to a set amount for a particular casino game. The importance of knowing the terms and conditions is once again fundamental as sometimes cashback is awarded in real money cash, and other times is still met with stringent wagering requirements.
Jackpot drops
Regular players of online casino games may notice a large number at the top of the screen which ticks upwards saying something like “community jackpot”. These jackpot drops are exactly that, they are rewarded randomly to players and tickets are ‘earned’ by playing certain jackpot games. It goes without saying, such jackpot events are extremely rare and players should never expect to receive one. It’s a nice bonus knowing that it’s a possibility though, and it could change your life!
VIP bonuses
VIP bonuses, otherwise known as ‘high roller offers’ apply to players who turn over an extremely high amount of money at certain online casinos. High-stakes games usually apply to such promotions and these high rollers may have dedicated account managers who look after them and exclusive promotions such as large bonuses or even tickets for sporting events. These bonuses won’t be available to the average player but if you do find yourself subject to them, the same common sense of reading the terms applies.
Wrapping it up
Great bonuses are abundant across online casino websites and you probably will have guessed by now that questioning whether one type of bonus is good or not is like asking how long a piece of string is. Ultimately, players need to familiarize themselves with the terms and conditions and stick to reputable operators where there are less likely to be misleading promotions.
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