By 2025, the online gambling market is expected to reach a value of almost $103 billion. That is a rather hefty pie and a lot of people are looking for ways to grab a slice. That means that competition in the world of online casinos is extremely fierce. Finding new players and retaining existing ones became daunting tasks for casino managers. One way of doing it is through bonuses. In an attempt to get people to sign up, some casinos will offer almost anything, from deposit matching to free spins. But make sure to read the fine print before agreeing to them. Sometimes, they may not be as alluring as they are made out to be.
Strings Attached to Online Casino Bonuses
Casinos go to great lengths to prevent players from just taking cash deposits and withdrawing them. The most effective way they came up with is wagering requirements. You can see that number on the casino’s policy page. It is usually x35 but can go as high as x50 or even x100. It is the number of times you have to wager your bonus before you can cash it in. For instance, if you have received a bonus of $100 and the wagering requirement is x35, that means you have to make wagers in the total amount of $3,500 before you can withdraw your winnings. FI the requirement is x50, the amount jumps to $5,000. Some casinos require that your deposits enter this equation. So, if you deposited $100 and got a matching bonus of another $100, at the wagering requirement x35, you need to wager a total of $7,000 before seeing any of your winning at your bank account. That is why it is important to read terms and conditions thoroughly and see if you can live with the conditions.
No Deposit Bonus
No deposit bonuses are a great way of sampling all the games casino has to offer. This is usually a small amount, ranging from $10 to $20, you get as soon as you verify your account. One thing about no deposit bonus is that it usually comes with high wagering requirements. It is not uncommon for casinos to put an x100 wagering requirement for no deposit bonus. Because of this, you may want to think about accepting it. Still, if you want to just test the waters, it may be a good idea to take it. After all, it is free money.
Many free spins bonuses are just another type of no deposit bonus. They usually don’t require that you deposit any funds into your account. They are a handy way of trying out a new casino and seeing if their slots collection works for you. That way, you can avoid depositing any money you may not want to spend. You can also use them to test new games, as casinos often give them to existing players as well as the new ones. Like with other bonuses, you will need to meet certain conditions before withdrawing money you won with free spins. Usually, it is a number of turns you have to play before cashing out.
Cashback bonuses are designed as rewards for casino’s loyal players. Most other bonuses are designed to attract players. Cashback bonuses, on the other hand, aim at the retention of old players. The basic principle is that the casino gives you back a portion of the money you lost, usually 10%. Depending on the casino, it can be calculated on a weekly or monthly basis. It’s not much, but it may come handy, especially if you encounter a cold streak. The best thing is that these bonuses have no requirements. So, if you use that money to win big, you can withdraw it immediately. Casino bonuses come in many shapes and sizes. Most of them look very nice on paper but considering all the strings casinos attach to them, you may want to be careful with them. The good news is that you can opt out of them. Choosing not to receive online casino bonuses means you can withdraw your money any time you want. It also means that you can miss out on a significant amount of cash. It is up to you to decide which of these two options is better for you.