If you are just joining the world of online gaming, you probably may be already lost in the many offers and promotions that are available on most online casinos. Live casinos may be an exception when it comes to these many bonuses, but for the online casinos, a lot of “free” money seems to be available for each and every casino member.
A lot of gamers always wonder how rich online casinos can be, to afford all the free money that they award their customers. However, the truth is, this money is not free as it comes with several strings attached to it.
You can check this link for a more comprehensive list of the most popular bonus games.
A Look at How Casino Bonuses Work
Most if not all online casinos offer a deposit bonus for players making their first time deposit. The main aim of this type of bonus is to entice new players into making a deposit, and the online casino hopes that the depositor will become a regular client who will keep on playing and generating business for them.
In most cases, this first-time deposit is normally a percentage match. The casino will most likely place a cap on the full amount of the bonus.
For example, if an online casino promises a first deposit bonus of 300% match up to $3000. This means that for each dollar that you deposit into the casino, (up to $1000), you will be awarded another dollar as the bonus money.
An online casino can award the bonus in many forms, and below are some of the common ways through which this happens:
Play Only Bonus
This is the most common type of bonus on online casinos. With the play only bonus, you are only allowed to use the bonus to place a wager, but you are not allowed to withdraw the bonus money.
In case you are lucky and your bet ends up with a win, the original bet amount will be returned to the bonus balance, while the winnings are held in your real balance account.
You are allowed to withdraw the winnings, but only after meeting certain wagering requirements set by the casino.
This is another type of bonus although it is a little rare as compared to our first example. With a withdrawable bonus, the bonus money is credited to your account immediately you make a deposit. For example, if you make a deposit of $500 and the online casino offers you a 100% up to $500 bonus, your account will be credited with $1,000.
However, as we already said, there is no free money in an online casino and there is a catch. You will be required to “clear” the bonus prior to withdrawing the bonus money.
Free Play Bonus
This is another common type of bonus that is offered by online casinos. With this bonus, you do not need to make a deposit, and the online casino awards you the bonus immediately you sign up.
However, the casino also makes it extremely hard to withdraw the bonus, and some will require you to wager it more than fifty times before you are allowed to make a withdraw. Other casinos may require a deposit later on before they can allow you to withdraw the bonus.
Reload bonuses are more related to the play only bonus. However, the only difference is that with a reload bonus you are allowed to redeem the bonuses anytime you make a deposit, and not just on your first deposit.
Casino bonuses may be enticing, and especially to newcomers in the industry. However, it is important to handle them with a lot of caution, as some are known to be quite draining to the gamers.
Additionally, some online casinos attach requirements that are almost impossible to attain, while others have set expiration duration for the bonuses.
Always read in between the lines before accepting any bonus offer from an online casino.