Bonuses are one of the best features of online casino games. They are easily accessible to any player interested in a particular casino or game. However, the most used bonuses are the new player bonuses. A new player bonus is perhaps the most common type but there are many others to look for. We will explain how these bonuses work in order to benefit from all the free stuff that online casinos offer to their clients, with strings attached, of course.
There are plenty of types of bonuses in this category, such as:
Sign-up bonus – This is by far the most common promotion you will see at online casinos. You create an account, make a deposit and then get casino credit in return. Some offer credit for a specific game or free spins for their online slots. There are certain conditions involved.
Cashable bonus – you can withdraw the amount after you meet the requirements. For example, a 100% match deposit bonus with 20xbonus requirement means that if you deposit $100 you will get $100 more in casino credit thus making your balance $200. Still, you can’t withdraw your money before you wager $2000. Remember that wagers are cumulative, you don’t have to bet $2000 in one go.
Non-cashable bonus – you cannot withdraw it but it will be deducted from your balance after you meet the requirements.
VIP bonus – usually available only to High Rollers or premium users.
Cashback bonus – loyal clients are given real cash back without any wagering requirements. This is meant to reward long term players.
These are far lower than deposit bonuses. The winnings are usually capped and there are wagering requirements before you can cash it in. That’s why you better hope you don’t win a lot of money with a free chip because you won’t be able to withdraw it all.
There are 2 main types of no-deposit bonuses: free play and free spins. If you redeem a free play bonus, you are given an amount of casino credit to play for a limited time, let’s say $100 in an hour. You have to win as much as you can in this hour and you can keep everything you win above $100.
As for the free spins bonus, this type of bonus is very popular at slot games. You can spin the reels without making a bet. The amount you win must be wagered several times as per the bonus requirements (see the 20xbonus example above). These limits are there to prevent the casino from basically giving away too much free money. After all, you have to keep in mind that casinos are in the business of making money not of giving it away.