Different Types of Casino Bonuses Explained

One thing that worries many sports bettors is the risk of losing money. But it is impossible to avoid losing money when gambling. The important thing is to lower the risk. As a new bettor, you can use bonuses to lower your risk as you learn how to bet. Bonuses will boost your wins even as you learn how to become an effective bettor. There are different bets applicable in different circumstances. When choosing a casino, it is important to look for the best deposit bonus. Here are the different casino bonuses you should know. 

Welcome Bonus

This type of bonus is also known as a sign-up bonus, first deposit bonus, or new player bonus. You get it when you become a new member at a casino. Welcome bonuses can be a direct boost on your stake, or allow you to play a specific number of games. An example of a welcome bonus would be: 100% up to $1150 + 500 Free Spins. The casino will match your first deposit up to $1150. You also get 500 free spin games. Another example would be $1000 Match Bonus on your first 3 deposits, which would boost your deposit up to $1,000 each time for the first three deposits. 

Free spins are also called cash spins or extra spins. These spins are usable to play in video slot games. Free spins usually come with lower wagering requirements than cash welcome bonuses. Some casinos will also give you free spins on the second and third deposits. 

Welcome bonuses can be anything from 50% to 500%. You should be wary of very high welcome bonuses because they come with very restrictive terms and conditions. A welcome bonus is very helpful when you are testing out a new casino, or learning a new game. 

Payment Method Bonus 

Different payment methods have varying transaction costs. Casinos prefer payment methods that offer cost advantages because it translates to lower overheads and higher margins. They offer customers incentives to deposit using these favorable methods. For example, a casino may offer 15% of your deposit as a bonus when you deposit in Bitcoin. 

No Deposit Bonus 

This type of bonus is unique because it allows you to play risking none of your money. It means you can play without money and win real money at no risk. A casino will often restrict the games you can play with a no deposit bonus. Games that have a low edge for the house, for example, blackjack are usually not eligible for this bonus. Casinos will also have high wagering requirements as they try to hold on to their money. 

Reloading/ Deposit Bonus 

These bonuses are also known as loyalty bonuses. A casino will reward you for your loyalty. You will get a certain percentage of your deposit as a bonus. A casino deposit may also apply if you deposit on specific days e.g., Tuesday. Many casinos also look at the monthly spending to reward customers depending on their level of betting. You will get a monthly bonus for staying active. 

VIP / High Roller Bonuses 

Casinos love high spending customers and offer them generous perks and incentives to stay active. A high roller may not be impressed with a 20% deposit bonus, but would be interested in a ticket to a poker tournament. VIP customers get a personal care assistant to take care of their needs. You will get these perks in a tailored package depending on your playing habits. 

Referral Bonus 

A casino will reward you for introducing your friends as new customers. This bonus is sometimes called a refer-a-friend bonus. The bonus can be in a fixed amount e.g., $20 for every referral, or a percentage of your referral’s deposit. Referral bonuses usually come with conditions that your referrals spend a certain amount of money before you get the commission.  

Wagering Requirements on Bonuses 

You should always look at the wagering requirements on a bonus. These are terms and conditions that apply before you access the bonus as cash. Some casinos do not have these restrictions, while others will require you to play up to 50 times before you withdraw the bonus. It is important you look at wagering requirements before you commit your deposit. Typically, higher bonuses require higher wagering requirements. 

Bonuses are very helpful when you are trying out a new casino or game. They can also boost your win and make your play more lucrative. You can now enjoy your games at lower risk while boosting your wins at your chosen casino. 

 

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Different Types of Casino Bonuses Explained was first seen on Casino Life Magazine