Understanding Online Casino Bonuses: Types and Terms
Online casinos have become a favorite for gamblers worldwide, with the accessibility and bonuses they offer. These bonuses have become quite competitive, with casinos aiming to attract and retain customers through them. Today, the best online casinos are packed with different categories of bonuses, from highly coveted welcome bonuses to VIP/loyalty programs. This article delves into the different types of online casino bonuses and the commonly attached terms and conditions.
The terms and conditions attached to a casino bonus determine whether it’s a fair incentive. Most players do not see past the huge cash prizes, free spins, and cashback percentages on promotions to their own detriment. A condition common to most casino bonuses is the “wagering requirement,” the primary determinant of a favorable casino bonus.
What Are Wagering Requirements?
Wagering requirements, also called playthrough or rollover requirements, refer to the number of times you must wager a bonus fund (with your deposit, sometimes) to cash it out. They’re always highlighted on the bonus as the most important condition, along with the validity period in which you must meet the requirement. Wagering requirements can range from as low as 1x (commonly with cashback offers) to as high as 70x (with welcome deposit bonuses).
For instance, if you’re given a ₹1,000 casino bonus with a wagering requirement of 10x, it means you need to wager ₹1,00,00 before you can withdraw the ₹1,000 bonus. Sometimes, casinos require you to wager the sum of the deposit + bonus fund. This means if you deposit ₹500 to trigger the ₹1,000 bonus at a wagering requirement of 10x, you must wager ₹15,000 to make that ₹1,000 bonus fund withdrawable. The higher the wagering requirement, the longer the validity period should be. Usually, welcome deposit bonuses have a validity of 30 – 90 days.
A casino bonus wagering requirement is favorable when it’s between 1x – 35x. Anything higher than 35x is on the high side, and such a bonus should be reviewed thoroughly before claiming.
What Are The Types Of Online Casino Bonuses Available?
There are several types of bonuses to look forward to in a standard online casino. You’ll find out details of many of these to your benefit at the Master of Casinos, the number one online casino review site in India. They include no-deposit bonuses, welcome deposit bonuses, cashback offers, free spins, reload bonuses, refer-a-friend bonuses, and loyalty/VIP programs.
These are bonuses given as a welcome offer to new players. As the name implies, you do not need to make a deposit to get the bonus. All you have to do is create an account with the online casino, and upon logging in, the bonus will be credited to your account. They’re not as common as deposit bonuses and typically come in smaller amounts of cash prizes and free spins.
Sometimes, you’ll need a bonus code to claim and activate this bonus. As with most other casino bonuses, this offer comes with a wagering requirement. Also, because you’re not making any deposit into the online casino, this wagering requirement is usually on the higher end. These bonuses come with game restrictions, where you can only wager on selected games, which are mostly slots. Lastly, there’s typically a validity period of about seven to thirty days to beat this wagering requirement and make your bonus funds withdrawable. If the no-deposit bonus has free spins in its package, you’ll need to wager the winnings from the free spins, too.
Welcome Deposit Bonuses
These are the most common casino bonuses offered by operators to attract new players. Welcome deposit bonuses come in a package of cash prizes and free spins and can be given consecutively for up to ten deposits. Unlike the no-deposit bonuses, you’ll need to deposit a minimum required amount using the casino’s payment options to qualify for the bonus. Some casinos also require a bonus code to have the offer activated.
They come in a package of 100% match and above the deposit you make. However, there’ll be a limit to the amount given out, depending on the casino. Once you make the minimum required deposit, the bonus (cash prize and free spins, or either of both) will be credited to your account. These welcome bonuses come with wagering requirements that range from 30x to 70x. Often, online casinos set a wagering requirement of 35x on welcome bonuses.
Similar to the non-deposit bonuses, there’s a validity period attached to the bonus from the day you claim it. Typically, the validity period should be 30 days. However, some online casinos can make this fewer or more, depending on how high the playthrough requirement is. Also, there will be selected games to play that’ll contribute to the wagering requirement. These usually include slots and a few table games. Winnings from the free spins in the welcome package are subjected to a wagering requirement of their own, which can be higher than that of the cash prize.
These bonuses are a way of getting back a percentage of the losses you incur playing games at a casino. Casinos offer 5% – 20% cashback bonuses to players and are typically set for weekday bonuses. The percentage returned may be higher, especially if you’re part of the casino’s VIP club/scheme. However, the casino will set a limit to the maximum amount it can return, regardless of how much you lose.
You must have deposited a minimum amount to play the eligible games to qualify for the cashback bonus. Eligible games range from slots to live dealer games. Your cashback offer can be daily, weekly, or monthly. The best part about cashback offers is that the wagering requirement can be as low as 1x. However, casinos set the validity period to claim the bonus to as little as one day up to seven days, at the maximum.
Payment Option Bonuses
Recently, online casinos started giving bonuses for depositing via certain payment options, especially cryptocurrencies. This is in line with driving the use of cryptocurrencies in online casinos as they provide anonymity and eliminate payment platform glitches and delays.
Free spins are common as weekday and weekend promotional offers in casinos. You might need to deposit a certain amount on a particular day to qualify, and sometimes, casinos require a bonus code. These free spins are usually restricted to a set of slot games or just one slot game for promotional purposes. They come with wagering requirements, such as winnings you make from the free spins on a particular slot must be wagered a specified number of times before you can withdraw them.
These are bonuses given when you deposit into the casino account to play on certain days of the week. Compared to welcome deposit bonuses, they come with lesser deposit match percentages, usually less than 100%. However, you can claim them as many times as the casino permits, especially if they’re a regular weekday bonus. These reload bonuses come with wagering requirements that can be as high as 35x and a validity period of usually seven days.
Also known as referral bonuses, these are some of the easiest perks you can get in an online casino. To participate, you must already be a casino member by creating an account and depositing to play games. You’ll then head to the casino’s promotions page and select the refer-a-friend bonus to obtain a referral link or code to send to your friends. The bonus offered by the casino could be a cash prize, free spins, cashback offer, or merchandise.
The condition could also vary, as some only need your friend to sign up to credit the bonus, while others will need your friend to sign up and make a deposit. The best part about these refer-a-friend bonuses is that both the referrer and the referred persons get a bonus prize. These bonuses also come with wagering requirements, expiry dates, and game restrictions.
These programs are casinos’ way of retaining and rewarding loyal customers. When you create an account with a casino that has a VIP club, you start getting points when you make deposits, participate in tournaments, and several other activities. As these points accumulate, you get to attain certain levels in the club’s VIP program. Each level you attain will hold incentives better or more than the previous one. Sometimes, these points can be redeemed for cash prizes, casino merchandise, and other bonuses.
Incentives you get in the VIP club of an online casino include better cashback offers, exclusive table games, higher cash prizes, and priority access to customer services. At the highest level of these VIP clubs, you get assigned an account manager, wider withdrawal limits, trips, and birthday bonuses. The terms and conditions of VIP clubs differ by casino and are typically concerning how much you need to deposit or activities you need to participate in to attain levels.
Casino bonuses are there to make your gambling experiences better as a player. However, you need to take their terms and conditions into careful consideration so you don’t plunge into more losses than wins. Also, before you claim a casino bonus, be sure to read reviews from past customers and verify that they’re legit.