Types of Online Casino Bonuses Explained
If you’ve ever tried online casino games, you might have come across the term “casino bonus.” This unique feature is exclusive to online casinos and crucial for successful gambling ventures. If you are a fellow online gambler, then casino bonuses will surely pique your interest. Thus, to enlighten yourself, check out our well-informed article on types of online casino bonuses explained by our expert team. We, your friendly neighborhood Spi- casino experts, will help you explore the diverse casino bonuses. So just sit back, relax, and enjoy our expert analogy on everything casino bonuses.
What is a casino bonus?
The term bonus refers to rewards given for performing certain actions. Casino bonuses are promotional tools used by online casinos to attract new players and keep existing ones. They come in the form of free credits, spins, or other perks. Players can use these perks to play games without risking their own money.
Casino bonuses often come with specific terms and conditions. These include wagering requirements or a specific time limit. To withdraw any winnings generated from the bonuses, you need to meet these specific requirements.
Types of online casino bonuses explained
Casino bonuses differ widely. There aren’t just three to four types of bonuses available. Even specific casino rules can influence the diversity of casino bonuses, creating new bonuses along the way. Here, we will provide you with the common types of casino bonuses offered by most casinos.
Welcome Bonus
Welcome bonuses are a common type of bonus available at most casinos. This bonus is also known as a sign-up bonus or a first deposit bonus. Welcome bonuses are a great way to boost your gameplay. More often than not, they offer a combination of both a first deposit bonus and free spins.
In the case of the first deposit bonus, they are often offered as a percentage of the deposited amount. Normally, 50% to 200% of what you’ve deposited might be given back as a bonus. For the free spins, you can get anywhere from 50 to 500 spins, depending on the casino platform. These spins are usable for video slot games. Some casinos specify the game you can use the free spins on.
The welcome bonus often comes with a high wagering requirement. This is to make players spend more money on the platform to boost the casino’s stats. Some casinos try to create extreme wagering conditions with a short-time frame so that players fail to redeem the bonus. Thus, it is necessary to look out for those extreme requirements and avoid casinos that use this strategy.
Payment Method Bonus
Payment methods are diversified in online casinos. Multiple payment methods, such as credit or debit card, e-wallet, or crypto, are available for an easier transaction process. However, all of these transaction methods have varying transaction fees, some being higher than others.
For casinos, payment methods with lower transaction costs mean lower overhead and higher margins. Because of this, casinos prefer payment methods with lower transaction fees.
To divert players towards their preferred payment method, casinos offer perks like cashback or discounts. Occasionally, casinos partner up with specific companies and promote their transaction method through bonus offers.
No Deposit Bonus
No deposit bonus, as the term refers, is a bonus offered without any deposits. Certain casinos provide bonus offers right after verifying your account. Redeeming these bonuses does not require wagering your own money. This prospect makes no-deposit bonuses unique. They are used to entice players into trying out new casino platforms.
However, casinos often restrict the games you can play with this bonus. Casinos offer no-deposit bonuses on low-edge games. They also have high wagering requirements to avoid giving free money to too many players.
Reloading/Deposit Bonus
Deposit bonuses are a form of loyalty program. This type of bonus depends on how much you’ve deposited at the casino. The casino will reward you based on your deposit. A higher deposit translates to a better reward.
Casinos track your deposit on a daily, weekly, or monthly basis. Based on the volume, you will get a certain percentage of your deposit back. Some casinos even provide deposit bonuses in three sectors. They provide cashback percentages based on your daily, weekly, and monthly deposits. Thus, the longer you stay and spend money at one casino, the more beneficial it’ll be for both you and the casino.
VIP/High Roller Bonus
Has gambling turned into an addiction for you? Are you known as a high roller in the gambling community? Then casinos will love you. For people who spend a fortune on online casinos, they offer VIP perks. To impress their VIP players, casinos will provide a personal assistant. VIPs are also eligible for a bunch of lucrative deals. These include extra rakebacks, exclusive tournaments, and special gifts. Some casinos even offer their VIPs brand new cars after reaching a certain point.
Referral Bonus
As a strategy to get more people addicted to gambling, casinos offer referral bonuses. Referral bonus works when you refer the casino platform to a friend or someone you know. If the person you referred to joins the platform and deposits money, you’ll get bonus credits.
In these types of bonuses, the credited amount could be fixed. Or, in some cases, the amount rises based on each extra referral. Usually, referral bonuses come with conditions. That is, your referrals need to spend a certain amount of money before you become eligible for the bonus.
Cashback Bonus
People play casino games to win big. But more often than not, they end up losing money. After a big win, people tend to wager more in hopes of winning bigger prizes. Thus, failing is inevitable. Cashback bonuses, also known as Rakeback bonuses, offer slight remunerations in he form of reimbursed money. Every time you make a bet, a small percentage of that bet is returned to you, whether you win or lose. This means you never truly lose the amount you’ve wagered.
Loyalty Bonus
Loyalty bonuses are quite similar to reloading or deposit bonuses. There’s just one major difference. Instead of providing rewards based on the deposited amount, they use your total gametime. Most casinos have a point system. Each gaming session earns you some points. Your loyalty rewards would be based on how many points you’ve collected.
The good part about loyalty bonuses is that you don’t have to do any extra steps to get them. All you’ll have to do is play games. And based on your gaming, a loyalty bonus would be assigned to you.
Free Spins
Free spins are exclusively slot-based bonuses. Here, the casino gives you a limited number of free spins on certain slot machines. The number of free spins allocated can range from 10 to over 500. Often, they come with a welcome bonus or deposit bonus in a combined package.
Winnings from free spins are often bound by wagering requirements. And sometimes, free spins need to be spent a few days before they actually expire. Because of this, you need to read the terms and conditions of free spin bonuses carefully.
Campaigns and Promotions
Campaigns and promotions are periodic bonuses that are offered to players. These offers are not long-lasting and may be available for a few days only. The redemption process for different campaigns and promotions may vary. You might receive them as bonus codes. Sometimes the casinos send in-game mails, through which you can claim them.
Additionally, certain tournaments can be part of campaigns and promotions. These tournaments offer high rewards, making them worthy of casino promotion.
We’ve explained all the bonuses that you’ll generally come across during your gambling venture. But these bonuses aren’t all. There are more types of bonuses available in the online casino world. Some of them are tailored to fit specific casino needs. But they are very rare, and most often than not, you’ll encounter one of the above-mentioned bonuses.
How to activate the bonuses?
The process of activating casino bonuses significantly differs. Some require activation codes, while others use activation mail. Yet, activating them is generally straightforward and easy. Here’s a generalized, step-by-step process for how you can activate online casino bonuses easily.
- Account registration. Before activating a bonus, you’ll first need to have a platform where the bonuses are available. Thus, at first, you need to register an account on your preferred casino site.
- Explore bonuses: Each casino platform usually has around 4 to 5 bonuses and promotions going on at a time. Therefore, it is imperative that you go through all of them to find suitable bonuses for yourself. Navigate to the bonus and promotion section and explore the variety of bonuses.
- Read the terms and conditions: Before redeeming any bonuses, carefully go through the terms and conditions to look for general details and hidden conditions.
- Use bonus codes: Certain bonuses require you to use a bonus code. For these, follow the given instructions. Apply the bonus code in the designated area and redeem it.
- Make a qualifying deposit: For deposit-based bonuses, it is necessary to make a qualifying bet. Otherwise, you won’t be eligible for the bonus. To negate this, check out how much you need to deposit to qualify. Then deposit the optimum amount that ensures the highest level of benefits.
- Fulfill wagering requirements: Redeeming bonus winnings require a minimum wager limit. In order to withdraw money, make sure you’ve fulfilled the wagering requirements.
- Withdraw winnings: After you’ve met the wagering requirement, you’ll be eligible for redemption. Simply go to the withdraw option, choose your preferred transaction method, and withdraw money.
Follow these simple steps, and you can easily activate any bonuses that you want.
FAQ
Here are the most frequently asked questions by people who are curious about casino bonuses.
Q1. What are the wagering requirements on bonuses?
The wagering requirement on bonuses refers to the amount you need to wager before withdrawing bonus winnings.
Some casinos do not have these restrictions. But others provide a specific wager amount that you need to fulfill. Without meeting the required amount, you won’t be able to withdraw your bonus winnings.
Just like the bonuses, the wagering requirement varies. Some casinos do not have wager requirements. Some have achievable wagering requirements. While others intentionally set unfair wagering limits that are almost impossible to achieve. If you want to have a good gambling session, then look out for these casinos and avoid them if possible.
While casinos with no wager restrictions may seem like a better option, their bonuses aren’t as lucrative. We suggest going for casinos with very low and achievable wagering requirements.
Q2. How do I get a bonus code?
There are two ways to get bonus codes.
The first method is to check the official casino website. Generally, your preferred casino will publish all the new bonus codes available on either the notice board or the homepage. They might also have a separate section dedicated to bonus codes only.
The second method is through a third-party website. Many websites specialize in casino bonus codes. They do extensive research and find out the best casino bonus codes available. You can go to their website, type in your casino name, and browse through the codes.
Q3. How do I activate my bonus?
Activating bonuses is really simple. Some casinos offer auto-bonus activation. That means if you fulfill the task required to activate the bonus, it will activate automatically.
In cases where automation doesn’t work, you can activate bonuses in two ways. The first is by putting in the bonus code in the designated area. In the second method, you’ll get a pop-up window on your casino home screen. From there, you can claim and activate your bonus.
Q4. How does a deposit bonus work?
As we’ve mentioned before, deposit bonuses work based on the deposited amount. The casino keeps track of your deposits. And based on your daily, weekly, and monthly deposits, will grant you special rewards. These can be a specific amount of cashback or a discount.
Deposit bonuses are basically a form of loyalty program.
Final Words
Casino games, although fun, can sometimes be the reason for someone’s grief. It’s unpredictable nature can result in you losing your hard-earned money.
From this perspective, bonuses seem like gifts given by the heavens. They reduce your risk of losing money. At the same time, it significantly increases the excitement of gambling.
Thanks to casino bonuses, you can now enjoy your gambling ventures without worrying about losing too much money.