Almost every online casino out there offers bonuses, so finding deals to take advantage of is never a problem. At first glance, these bonuses seem like a no-brainer, right? After all, who doesn’t love the idea of free money?
However, before you dive in, it’s important to understand that not all bonuses are created equal, and there are a few things to be mindful of. Let’s break down the different types of bonuses and what to watch out for.
Types of Casino Bonuses
Online casinos offer a variety of bonuses, each with its own set of rules and potential perks. Here’s a look at some of the most common types you’ll encounter and how they work.
Welcome Bonus
A welcome bonus is usually the first bonus you’ll get when you sign up with a new online casino. It’s also often the biggest one you’ll see, as casinos want to make a strong first impression.
For example, a casino might offer a 100% match bonus on your first deposit, of up to $500. So, if you deposit $250, the casino will match that with an additional $250, giving you a total of $500 to play with.
Some welcome bonuses don’t stop there. They might be spread across multiple deposits. For instance:
- First deposit: 100% match up to $200
- Second deposit: 100% match up to $300
- Third deposit: 75% match up to $500
Reload Bonus
Once you’ve used up your welcome bonus, you’ll likely want more ways to keep earning. That’s where reload bonuses come in. These are similar to welcome bonuses, but they’re available to existing players.
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Reload bonuses are typically smaller, though. For example, you might get a 75% match up to $200 on your deposit. While they’re not as large as welcome offers, they’re still valuable if you enjoy playing at the same casino and want to keep earning bonuses.
No Deposit Bonus
Unlike most bonuses, which require you to make a deposit, no-deposit bonuses give you free money just for signing up. You register at the casino, and they give you a bonus, usually a small amount, to start playing with.
For example, you might get a $20 no-deposit bonus. After meeting the wagering requirements, you could have $12 left in winnings, which you can cash out as long as you meet the minimum withdrawal amount.
Free Spins
Free spins are another common bonus, and they can either come with or without a deposit requirement. These bonuses let you play slot games for free but still win real money.
For instance, you could deposit and receive 100 free spins. If you win $25 from those spins, you’ll be able to withdraw that amount after meeting the terms and conditions.
Cashback
Unlike other bonuses that are about giving you more money to play with, cashback deals offer to refund a portion of your losses.
Let’s say a casino offers 20% cashback on your losses up to $200 over your first seven days. If you lose $100 in that week, the casino will refund $20 (20% of $100) to you as a bonus.
Potential Downsides of Casino Bonuses
Casino bonuses sound like a great way to get extra value for your money, but there are a few things to be aware of before jumping in. Every bonus comes with its own terms and conditions, such as wagering requirements, withdrawal limits, and time restrictions. Understanding these can help you avoid disappointment down the line.