There are hundreds of online casinos available to players worldwide. As the iGaming market grows, more online casinos pop up, and the competition grows fiercer. With this fierce competition between online casinos to attract and keep players, bonuses started being offered as rewards to players.
Today, bonuses are an expected part of any online casino, as it acts as an incentive for players, new and experienced. Bonuses attract new players and make it easier to play the thousands of casino games available. We decided to look into the best types of bonuses and when players can take advantage of these rewards.
Bonuses for Every Occasion
First, we look at when casinos offer promotions and rewards to players, as this will give you an idea of what to expect when signing up at a casino.
Welcome Reward
The signup bonus is the first bonus you’ll come into contact with at a web-based gaming platform. It’s the incentive casinos throw out there to attract new payers to their platform and often look quite lucrative on the surface. While some are lucrative, it’s important to remember that all bonuses have requirements and restrictions, which could lower the return value of the promotion.
Loyalty Reward
Now you’ve started playing, but how do you keep your bankroll controlled? Loyalty programs like VIP tiers and Cashback rewards are often employed to ensure a player keeps playing at the casino even after claiming the signup bonus. Loyalty programs have many benefits, from lower wagering requirements to higher withdrawal limits. You can also receive a more significant cashback percentage, making it more lucrative to keep playing at a specific casino.
Monthly Reward
There are several monthly promotions that a lot of gambling service providers run. One of the most commonly found promotions is the Game of the Month promotion. With this promotion, players receive a bonus when playing the game listed. There can also be monthly tournaments with leaderboards and cash prizes, so always watch the promotions page.
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New Game Reward
Another commonly found promotion that’s good to claim is the New Game promotions. Often, gambling service providers will create a bonus linked to a newly released game on their platform to encourage players to try it out. Not only can you claim a bonus, but you can also try out the new game and get used to the gameplay with minimal risk to your bankroll.
Best Types of Bonuses
We have looked at for what purposes bonuses can be given, i.e. as a signup or loyalty reward. However, that doesn’t explain what the actual bonus entails. While there are many different bonuses, there are three main bonus types, which we’ll explore in detail.
Free Spins
Free spins are generally given as a welcome or New Game bonus. Free spins allow players to test the gaming platform and new games without risk to their bankroll. It can also be given along with a matched deposit bonus. Generally, free spins are given a set value at the lowest bet amount.
No Deposit Reward
The No Deposit bonus is, as its name states, a bonus you receive without needing to make a deposit. This can be in bonus funds or free spins credited to the player’s account. Generally, a No Deposit bonus is a signup bonus, though there might be limited no deposit promotions run throughout the year at a casino.
While many believe this to be the best bonus due to no deposit being required, we’re not convinced. It’s undoubtedly one of the best, but no deposit bonuses often have higher restrictions. These higher restrictions are the way that casinos protect themselves. It can mean higher wagering requirements, limited games you can use the funds or free spins, or a lower winnings cap. While many believe this to be the best of all casino rewards due to no deposit being required, we’re not convinced.
The reward you receive will generally be lower, ranging between bonus funds of $5 to $25 or up to 20 free spins in most cases.
Matched Deposit Reward
In our mind, the matched deposit bonus is often the most lucrative promotion. While there’s a minimum deposit requirement, you can get bonus funds matching your deposit between 50% and 500%. The wagering requirements and restrictions tend not to be as high as the No Deposit bonus. The bonus also doesn’t necessarily have a winnings cap, and if it does, it’s much higher than with a No Deposit bonus. Thus, the possible return on your deposit is usually better.
Matched deposit bonuses are some of the most versatile bonuses, given as signup bonuses, daily, weekly, or monthly bonuses, etc. This means it’s the type you’ll encounter most frequently and often some of the best bonuses at an online casino. The standard minimum deposit is $10, and the general wagering requirements fall between 25x and 35x. So ensure you claim the best bonuses!
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