Why Do Online Casinos Offer Bonuses and How to Choose Them?
By Space Coast Daily // May 1, 2021
BONUSES. Don’t we all love them? Seems like online casinos truly understand what gamblers want – free spins, free chips, free money.
But why are they giving away hefty bonuses? Aren’t they here to make money?
Before you grab that screaming offer, it’s important to understand how online casino bonuses work. Not all bonuses are the same. Sometimes, the biggest is not always the best. Comparing bonuses should be your starting point to choosing the right online gambling platform for you.
What Online Casinos Offer Bonuses
The explanation is quite simple, really.
Online casinos offer bonuses to attract more players.
The online gambling industry has taken the internet by storm, with an estimated 2020 value of $59.6 billion.
The competition is very stiff and online casinos have to be creative with their approach to acquiring customers.
And what could be a better way to attract new users than to offer real cash?
Depending on the casino, you could be offered up to a $2,000 bonus upon registration with the online casino. Crazy, right?
The Caveat of Casino Bonuses
Also called “welcome bonuses”, we don’t receive these gifts for nothing.
There is always some sort of an exchange.
One is the deposit requirement.
Usually, the larger the bonus, the bigger the deposit required.
Often, the amount of your welcome bonus is a percentage of the deposit you make. So, for example, if there’s a 50% bonus and you deposited $1,000, you get an additional $500 which you can use to play.
Some casinos offer no-deposit bonuses but these are usually small, ranging from $10 – $50.
Usually, gaming sites that have this type of bonuses placed a maximum winning requirement. For example, you can only win up to $100 before you can withdraw your bonus.
Other casinos offer bonuses in the form of free spins. Check this website to see how slot bonuses work. One advantage of it is you get to play real money slots without having to risk your own funds. You can also encash your winnings.
Choosing Your Casino Bonus
There’s no doubt that welcome bonuses are advantageous to gamblers (as it is to casinos themselves). However, you want to take time comparing offers as no two are exactly the same.
There are several things gamblers need to take into consideration.
One is the wagering requirement.
This refers to the amount of money you need to bet before you can turn your bonus into real cash.
Online casinos won’t include that in their flashy advertisements. Read the fine print first before signing up. Most casinos have wagering requirements but those with lower requirements are usually the better ones.
Bonuses can also be classified as “sticky” or “non-sticky”. The former cannot be withdrawn and is only for wagering requirements. Once the wagering requirement is met, the player can withdraw the earnings but the bonus “sticks” to his or her account until they have lost it.
The terms and conditions should be your basis when considering whether or not to grab the bonus offered by an online casino. Note that these rewards are designed to encourage you to play longer so you’re not simply depositing, claiming the bonus, and withdrawing the money right away.
Furthermore, casino bonuses have expiration dates, which can range from a few hours to a couple of months. A good bonus lets you complete the wagering. Short validity periods force players to increase their bets, which leads to a greater variance and bigger chances of losing.
You should also look at the reliability of the online casino. Just because they offer great welcome bonuses doesn’t mean they are credible. There are other factors to consider too, such as their payment and payout methods, rules and charges, licensing, customer support, and game quality. Pay attention to user reviews before signing up for an online casino platform.
Online casinos offer bonuses to entice new customers and retain their existing ones. It’s also a “win-win” thing for online gamblers because having free money means longer playtime and more bets.
However, note that these bonuses aren’t created equal. It’s important to read the fine print to understand the rules, including the deposit and wagering requirement, to see whether you’re really getting something from those flashy advertisements.