What are the Different Types of Welcome Bonuses Available?
The online casino industry is a battleground, with the victors claiming your custom. With many sites working with the same software providers, the variety of games overlaps regularly where you will often find licensed games based on popular TV shows, movies or even video games. Huge franchises such as Tomb Raider, Call of Duty and Silent Hill have slots based on their properties, enticing new players who may not be familiar with the iGaming sector. Also, casinos use many of the same payment methods, which means the only advantage is their personal processing time for withdrawals.
One method that an online casino can use to stand out from the pack is its welcome bonus, and the more eye-catching, the better. Offers, such as 50 free spins no deposit, capture the attention of potential players. However, there are several types of sign-up bonuses available - let’s look at some of the most popular.
No Deposit Bonuses
A no deposit bonus is essentially a pre-welcome bonus. Think of it like a taster or a try before you buy type of deal. Prospective players can snap up these offers simply by registering an account and verifying their mobile phone number. A no deposit bonus can come in several shapes and sizes. As mentioned above, 50 no deposit free spins are among the best of the bunch, but other sites offer free bonus cash, which means you can play a wider selection of games.
Matched Deposit Bonuses
Only a handful of sites dish out no deposit offers, so the welcome bonus traditionally starts when you make your first real money deposit. By far, the most popular offer here is the matched deposit bonus. A typical example is 100% up to £100 on your first deposit. Quite simply, the casino operator ‘matches’ the first deposit amount up to a maximum of £100 - giving players double the bankroll to play with.
Free Spins Bonuses
Free spins bonuses are extremely versatile. Several well-known casinos bundled them together with a matched deposit bonus to make the welcome offer more attractive. However, a few online casinos have no wagering free spins bonuses. For instance, the promotion could be ‘Get 1 free spin for every £1 deposited up to a maximum of 50 spins. With no wagering bonuses, all winnings are paid in real money, which is why experienced players adore them.
Rebate Bonuses
Also known as a cash-back bonus, a rebate offer gives customers money back on their losses. One type of rebate bonus is ‘Play for the first 24 hours for free up to £500’. This means if a player deposits £300 and after 24 hours, their balance is £150, the casino will give £150 back as a rebate.
Understand the Terms and Conditions
Casino welcome bonuses are designed to be big, bold, and flashy - after all, their purpose is to attract new customers. However, the real value of a welcome offer is not calculated by how much bonus cash is on the table, but by the terms and conditions that accompany it. Players - new and old - need to understand the terms to find the best value bonuses. These are some of the main things to pay attention to.
Wagering Requirements
Most bonuses come with wagering requirements that must be cleared before any winnings can be withdrawn. It goes without saying that the lower the wagering demands, the higher probability a player has of coming away with a profit.
Something that gets pushed under the carpet to a degree is the game weighting rules that are related to the wagering requirements. Ultimately, the type of games you play determines what contribution of your stake is used for clearing the wagering. For example, most slot games contribute 100%, so if you bet £10, then £10 is cleared from the wagering. But blackjack may only contribute 10%, so you only clear £1 for every £10 that you bet.
Minimum Deposit
You’ll find that the casino will specify a minimum deposit amount that’s required to activate the bonus. This is typically only £10 or £20, but it’s still something you need to know in advance. Furthermore, in recent years, some casinos have payment restrictions, meaning only deposits made via eligible payment methods qualify for the bonus.
Time Limits
When you have a bonus with wagering requirements, which most do, there will also be a time limit on how long you need to complete the wagering. This can range from 3 days to 90 days, depending on the casino. You want to make sure that you have enough time to play, so the longer timeframes are more favorable.
Maximum Win Cap
More often than not with free spins bonuses, particularly the no deposit variety, the casino will impose a maximum win cap. There are operators that only let players win up to £10 and others go as far as £100 (for no deposit spins). It’s something to look for before you dive in because this stipulation does impact on the overall value of the offer. On the bright side, most sites make an exception for jackpot wins. For us, this is an absolute minimum requirement.