Types of Online Casino Bonuses
There are various types of bonuses available at the different online casinos which often lead to misunderstandings, confusion and unnecessary stress if you do not understand what they are. Here I will try to briefly explain the different types of bonuses to you. All bonuses will have a playthrough requirement before you can cash out any winnings, so make sure you know what this is and which games are allowed and which are not.
Playthrough and wagering requirement of online casinos
Before we get into the different types of bonuses, let me try and explain the playthrough or wagering requirement of online casinos.
Example: You need to play your deposit plus bonus 20x before cashing out. (These numbers will vary from casino to casino)
You deposit $100 and you receive a bonus of $100 – that will give you $200 to play with. Now you must wager this $200 at least 20x before you can think about withdrawing any winnings. That means you will need to make $4000 worth of bets.
Sometimes, a casino will say that you only have to play your bonus through a certain number of times. So, with the example above; You start with $200, but $100 needs to be played through 20x, meaning you will need to make at least $2000 worth of bets to cash out.
Another thing that you need to make sure you know, is which games are allowed and which aren't. Almost all casinos will exclude certain games from this playthrough. This means that even if you have made $10.000 worth of bets on blackjack for example, your overall playthrough still stands at zero and you will not be allowed to withdraw your money. You will also find that some casinos will allow you to play blackjack using a bonus, with a higher playthrough requirement. But that is all maths.
Make sure you read these terms at each casino you join, because most of them will be different from each other.
No deposit casino bonus
No deposit casino bonus is the simplest of all the bonuses. All you need to do is register a real players account at the casino offering this bonus, and you will receive the money. You do not have to make a deposit to receive it. Sometimes it will be automatically credited to your account and sometimes you will need to claim the bonus via email or a submission form on their website. But essentially it is very simple.
There may be limitations on this bonus at the different casinos, but you must make sure you read their terms and conditions and make sure you understand the rules. One of the limitaions may include things like a maximum amount you may withdraw using this bonus. Also, some casinos may not have this cap, but yould require you to make a token deposit before withdrawing from online casinos your winnings.
Match casino deposit bonus
This is a casino deposit bonus you receive when you depositing at a casino. They will match your deposit with a certain percentage of your total deposit. For example; A casino offers you a 100% match bonus up to $200. This means that they will give you 100% in free money on any deposit amount you make up to $200. ie. You deposit $100 and you will receive another $100 in bonus money, making your bankroll $200 or you deposit $150, you will get an extra $150 which will then total up to $300.
This casino deposit bonus is usually used for new players who make their very first deposit at an online casino. The factor that one usually takes note of with these bonuses is the percentage amount to work out the value you get for your money.
Free money bonus
This is a first casino deposit bonus where you know what you are getting irrelevant of the amount you deposit. An example would be if a casino offers you free $80 if you deposit at least $20. That will give you a bankroll of $100 to play with. But if you deposit $50, you still only get $80. Again, this is a mathematics thing. If you compare it to the match bonus of a different casino, you may find that by depositing the $20, you get more for your money. Here it would mean that you get 400%.
So, before you dismiss a casino that offers you a bonus which initially appears to be low, make sure you work out what that would mean if you make the minimum deposit required.
Sticky bonus is a casino deposit bonus that a casino offers you to play with but you cannot withdraw the bonus amount. This basically means that you will receive free money to play with and once you reach the playthrough requirement, you can only withdraw any winnings that are over and above the initial bonus amount. The bonus money will be removed from your account when you make your withdraw winnings.
These casinos are generally very generous with their bonuses because of this reason, so you can end up playing with a really massive bankroll. Some casinos will offer you up to $3000 in bonuses alone. This means that you can play at the games with the maximum coins and bets giving you a far better payout ratio when you hit the big wins.
Exclusive online casino bonus
The name says it all. These are bonuses that you will see at certain websites where the casino has made an exclusive deal with the website owner to offer his members. These bonuses can be any of the above mentioned variants, so always make sure you read the details of the offer and the terms and conditions of the casino.
Loyalty online casino bonus
Loyalty bonuses are given to players who have reached a certain status at an online casino. The amounts and types fo the bonus will vary from casino to casino and some casinos will not require a playthrough on these – but only some. You will generally need to meet a token requirement to cash these out.