Online casinos have become popular in the 21st century due to changes in legislation and advances in technology. Technology has enabled companies to deliver services online, which is right for sports clubs, horse racing, casinos, etc. One can enjoy a game right from the comfort of their home on television or play a casino game online against the house or another opponent (depending on the game and gaming provider).
Changes in the legislation include making the game legal, gaming authorities, licenses, enforcement, etc. have helped change the status of gambling and get people to open to the idea. These changes have made online casinos popular, and they also have a lot of benefits over traditional land-based casinos. With the rise of online casinos, casinos have to be creative to market their services, games, and features to players and bettors. Casino bonuses incentivize customers to try a game, win more than anticipated, potential hedge losses, sign up with a service, and more. Online casinos use rewards to get new customers, retain old customers, promote new games, festivals, etc.
Casinos give customers different types of bonuses. Some types of bonuses online casinos give out include sign up or welcome bonus, referral bonus for referring another user, cashback bonus, non-cashable bonus, milestone bonus, jackpot bonus, no deposit bonus, etc. Some dividends are only available to new customers while some rewards are available to new and old customers and lastly, some bonuses are for existing customers or members only (such as VIP programs).
Online casinos provide customers with the same services that traditional casinos do in games punters can play. Some of these games include but are not limited to table games and slot games such as blackjack, baccarat, roulette, sic bo, craps, slot machine games, bingo, poker, etc. So fans of existing games or players who want to try new games can get themselves acquainted with these games and try them out from the comfort of their homes.
In simple terms, online casino bonuses are extended benefits to customers by a service provider. While these benefits to the consumer may hurt a service provider’s bottom line in the short run, it creates more value for a customer in the long run. Here we take a more in-depth look at how online casino bonuses work and how players should use rewards to their advantage.
1. Only New Customers Can Use A Welcome Bonus
While it may seem obvious, only new customers can use a welcome bonus, and this bonus can only be used once. Existing customers cannot use a welcome bonus and can’t make another account to utilize a bonus as it would be against the terms of service. However, a customer can sign up with multiple benefits and avail of a welcome bonus one time from each service.
2. Deposit And No Deposit
All bonuses need a player to sign up and deposit a certain amount with a provider, except for one type of compensation - no deposit bonuses. No deposit bonuses require no initial deposit from customers, and these types of deposits may be rare. A player can win cash, other bonuses, offers, free spins, etc., which could help them win more. Service providers use no deposit bonuses, mainly for customer acquisition.
3. Wagering Requirement
Most bonuses have a wagering requirement attached to them as part of the terms and conditions. A wagering requirement is the number of times a player has to make a wager using a particular bonus. Only after meeting the wagering requirement can a punter withdraw a bonus deposit. Sometimes, services set unreasonably high wagering requirements. For example, an online casino may set a 50x wagering requirement, meaning a punter needs to make several wagers until his bonus amount is 50 times its value before it can be withdrawn. Casinos with high wagering requirements make it hard for customers to benefit from that bonus or cash out from that bonus. If you do not meet the wagering requirement set out for a particular casino game, those bonus funds can’t be withdrawn.
4. The House Always Has An Edge
Over time, the house will always have an advantage over the player. The house edge may vary from game to game for the casino. In the very same way, the profit may differ for each bettor. It’s essential to understand how the house edge works for each game and bonus. Punters need to pick games in which they know the house edge.
5. Bonuses May Have A Withdrawal Limit
Casino bonuses may have a withdrawal limit in the sense that if a punter decides to avail of a bonus, they’re only allowed to withdraw up to a certain amount each time. This limit may be set at 10% of the premium or 50% over a particular time.
6. Restricted To Certain Games