Online casinos have acquired the habit of giving out many bonuses to their players. Now who are we to complain? Bonuses and promotions come in many forms and if you aren’t familiar with all of the ins and outs of online gambling, it could get a little confusing.
One may ask the simple question of “why exactly are online casinos giving me free money?”. Well, the answer lies in the ever-growing competition in the online gambling industry, there are many online casinos, with new ones opening up every single day. With the market becoming increasingly saturated, the different operators must have a way to attract to their casino.
There are a number of different bonuses and promotions that come in different forms.
The first bonus a player will run into is the welcome bonus. It’s offered to new players upon sign-up and the first deposit. The way it usually works is that you’re given back a certain percentage of you first deposit. A popular example of a welcome bonus could be a 100% bonus up $200. this means that if you deposit $200 you will receive an extra $200 to play with, giving you a total of $400 for your gambling endeavor.
There are other forms of welcome bonuses, such as a $500 bonus regardless of your deposit amount, and an hour to spend it all with all winnings yours to keep.
Some online casinos may offer a no deposit bonus. This means that you will get a typically smaller bonus than in the other versions of the welcome bonus, but it will be free. These are harder to come by and usually carry stricter requirements for withdrawals later on.
The next type of bonus is the reload bonus. The reload bonus is very similar in its structure to the welcome bonus in the sense that you’re given a certain percentage of your deposit back. The differences usually reside in the amount and requirements for eligibility. The maximum amount for a reload bonus is typically half of the welcome bonus.
Another popular form of a bonus that you will frequently find at online casinos is the referral bonus, this bonus is given to a player who refers a friend to the casino and to the new player as well. This is a one time bonus and it’s given along in combination with any other bonus.
Many online casinos also offer a VIP program that will offer players increasingly better promotions as they climb up the VIP levels. Your VIP level is determined by how much you play and how large your bets are.
These are the most common forms of bonuses and promotions that are available at online casinos. Always check the term and conditions for eligibility before depositing money and accepting the bonus. Also, it is advised to stay away from bonus offers that seem to good to be true, as they could easily be part of a questionable operation.