The most attractive aspects of most casinos are the bonus they offer; game selections and smooth banking are secondary to that. There are many ways a casino can reward its players, ranging from the welcome bonus to loyalty programs. These bonuses are given to hold customers and sometimes to offer them the opportunity to try out games without risk.
These bonuses vary from casino to casino and have different wagering requirements.
One can divide the bonuses into two distinct categories, which are:
No deposit bonus: this bonus is mostly given even before a gambler makes a deposit into their betting account. This bonus is mostly a welcome bonus and often lasts a very short period. This type of bonus is also restricted by wagering requirements, meaning you have to reach a certain turnover before withdrawing. There are different types of no deposit bonus which include
- Free spins
- Free play
- Free cash
Deposit Bonus: These bonuses, as suggested by the name, are granted when you deposit into your betting account. This is also made so that a percentage of your deposit is rewarded to you. For example, when you make a C$500 deposit, and the deposit bonus is 20%, you get a C$100 bonus. These bonuses are sometimes included in the welcome package. It is also called the first deposit bonus, and it helps you boost your bet. These deposit bonuses also encompass free spins and free plays.
An example of such a bonus is as thus: 100% up to $100 + 20 free spins; this means that the casino will give you a match bonus of up to C$100. So, in a nutshell, if you deposit $100, you get $200.
Merits and demerits of deposit bonuses
Deposit bonuses have values such as:
- High expected value: most players are somewhat afraid to play risky games with their money because they worked hard for it probably. These bonuses take care of that. It’s free money, so most players try high stakes with it every now and then, and they win something. also, since you are required to reach a certain requirement before you withdraw, you will play for a higher value so you can withdraw your winnings
- Try new games: everybody wants to try a new game, but we rather stick to the familiar to avoid surprises that might lead to not winning big. Now that reluctance to try new games is reduced by bonuses. These rewards offer players a chance to try out new games which they might grow to like and even win in.
- Long play: most players want to play long enough to turn over the bonus into cash they can withdraw. This makes them play for longer. Since you can keep playing without topping your account immediately, you get to stay longer than expected.
- No risk attached: of all the merits of these bonuses, this is the one from which other merits draw. The lack of risk makes players take daring stakes and play risky games. The absence of risk accelerates the risk, contradictory, right? Now, look at it like this, if you know that you have nothing to lose, wouldn’t that motivate you to play more risky games?
Demerits of Deposit bonus
- You have to play through wagering requirements: basically, the wagering requirement is a set of conditions surrounding the usage of the deposit bonus. In this case, one has to play through a certain multiplier before being able to withdraw the winnings. So, if you get a C$10 deposit bonus and the requirement is X35, you are expected to play and win C$300 before you can withdraw. This requires you to bet many games and spend a lot of time.
- Restrictions on games: mostly, games with high RTPs are restricted on many sites. This is to enforce the wagering requirement further. Thus, you will be granted access to certain games that do not have a huge RTP. This entails that you might not even be granted access to use the bonus on your favourite games.
- Time limit: many casinos do not give the deposit bonus eternal life. This means that the bonus expires or becomes inactive after a certain time. Most platforms allow the bonus to last for weeks or months, after which it becomes inactive. This is a disadvantage because players might be indisposed at the bonus’s time frame and never benefit from it.
So, Are Deposit Bonuses worth it?
Well, there is no direct answer to that because it all depends. An online deposit bonus could offer you a good chance of turning a small amount into a reasonable amount. It can also make you discover really good games and titles you won’t bother trying with your real cash. All these sounds good but ensure you go through the terms and conditions and evaluate the wagering requirements.
Bear in mind that the money is not real money until it reaches a certain wagering requirement, mostly 25X or 50X. If you are given a 100% deposit bonus, and you deposit C$50, then you are required to bet at least 30X or win about C$1500 before you can make a cash-out.
This requires you to play a considerable number of games over a short period. This might be challenging, but a bonus should not be the only reason you choose a casino.
Deposit bonuses are fascinating offers that casinos give you when you deposit. These bonuses have different requirements attached to them. These bonuses offer you a better value on every deposit and allow you the opportunity to stake higher. These bonuses are perishable, meaning they do not last forever but for a short time. Players must hence play many games in such a short time to turn over the bonus to be able to withdraw it. Well, if well utilised, the bonus will be worth it.