The online casino market is a very competitive one. For you the gambler this is good news as this competition means each casino is fighting to ensure their casino is the most appealing. Primarily this is done through customer incentives or more commonly “Bonuses”.
There are several variations in customer bonuses, below I have listed the main forms bonuses take and how they work in practice. Quite often these can appear too good to be true so my main advice is always read the terms and conditions.
The most generous bonuses will be most commonly awarded to new customers, so don’t be afraid to spread you money around several sites to ensure you maximize your benefit. Just keep a good track of all those logins!
No Deposit Bonus
Usually offered to new customers, simply sign up and receive the bonus, weather it be cash or free spins and off you go. One of the best bonuses available as it’s free, do check conditions though as quite often these bonuses will have conditions.
Deposit ‘Match’ Bonus
These come in two main forms, the best being the match bonus, as it sounds this is where the customers deposit is matched by the casino up to the advertised amount. E.g. £500 match bonus. So if I deposited £400 the casino would match this giving me £800 to play with. If I deposited £600 I would only get the first £500 matched so I would have £1100 to play with.
The second form is the percentage match, similar to the first but a less rich offer as the casino will only match a percentage of the deposit. E.g. 50% deposit match up to £500.
So if I deposit £400 this time I would only get £200 from the casino giving me £600 to play with.
Remember that bonuses carry wagering requirements, so even though the 100% Match Bonus may award you more playable funds, it will take longer to clear the wagering requirements. this is why many players prefer bonuses that offer wager free spins or other perks like loyalty points.
It is always cheaper to keep an existing customer than entice a new one, therefore most online casinos now have loyalty programs. These vary from one casino to the next but each scheme will be similar in that the customer is rewarded on the continued use and size of future bets. While not as lucrative as new customer bonuses these should not be ignored.
Bonus Terms and Conditions
As mentioned above all bonuses will come with at least one condition and it is key you understand these if you are to take full advantage of them. There is nothing worse than winning £500 from a no deposit bonus only to find the maximum you can withdraw is £50.
This is where you are required to turnover over your initial deposit (this will include the matched amount if relevant) a set number of times.
E.g. All matched bonuses must be turned over 20 times.
Lets say I deposit £200 which is matched, I have therefore deposited £400. I must now turn this over 20 times or 200 x 20 = £4000. So I must placed bets totaling £4000 before I can make a withdrawal.
Commonly associated with no deposit bonuses this is where there is a ceiling on individual bets placed. E.g. £8 maximum
Again most commonly associated with no deposit bonuses. This condition essentially limits the amount you can win. E.g. £50 maximum withdrawal with this bonus.
While the above covers the main forms of conditions there will be others and even permutations of those above so please always read the T&C’s. Please note these will not be plastered in bold writing next to the offer but you will need to read the small print.