There are literally hundreds of online casinos operating all over the world. Given this intense level of competition, just how do online casinos win over new customers and retain existing customers? The answer Is, by offering a nice selection of bonuses.
Types of Bonuses
An online casino’s bonus package says a lot about how the casino values its customers. The best bonus packages offer a little something for everyone. All bonuses are identified by a promo code. When a player intends to claim a particular bonus, they are required to enter that promo code where indicated. Let’s take a look at some of the types of bonuses you might encounter.
No Deposit Bonus – While you are trolling through a bunch of online casino websites, you might come upon a site that’s offering a small “no deposit required” bonus. These bonuses are only available for new customers. Also, the offer is usually small. The intention of this type of bonus is to let the player sign up and given them a small bonus they can use to check out the site. If the player likes what they see, they can then make a deposit.
Welcome Bonus – Almost all casinos offer a welcome bonus package. The offers are usually a matching bonus amount based on the player’s first deposit. Sometimes, the bonus amount is tied to the player’s first X number of deposits. The matching bonus could range from 100% up to as much as 1000% with a cap on the amount of bonus to be awarded. The bonus amounts are tracked separately and come with certain terms and conditions (to be discussed below). Generally, these bonus amounts must be used first, though they can usually be used on any available game. It’s not unheard of for an online casino to restrict bonus play to certain games, usually specific video slots. Additionally, some welcome bonuses offer free spins in lieu of bonus monies. In that case, the free spins usually target a specific video slot. The best welcome bonus packages offer a combination of these bonus options.
Reload Bonus – In form, this type of bonus is the same as a welcome bonus. The only real difference is a reload bonus is reserved for existing customers. Also, reload bonuses are rarely as generous as a welcome bonus.
Referral Bonus – If you were to refer a friend to the online casino, most of them will give you a $50 casino bonus for the referral.
Weekly and Monthly Bonuses – Most of the time, an online casino will offer intermittent bonuses tied to some weekly or monthly event. These bonuses can cover everything a variety of things, including cash rebates on losses, more free spins, special drawings for exciting prizes and raffles. During international holidays like Halloween, Christmas and Easter, players can usually look forward to seeing some really nice offerings. Note: from time to time, online casinos have been known to make private offers to preferred customers via email. Some of these offers can be potentially lucrative.
Loyalty Programs – Most online casinos like to reward high rollers and frequent visitors. They track this through a loyalty program. The premise of a loyalty program is to offer reward points based on the dollars a player wagers. As the amount of rewards grow, the player climbs through a predetermined number of tiers, earning access to a catalog of rewards at each level. The rewards cover a variety of things, including cash rebates on losses, more free spins, special drawings for exciting prizes, free tournament entries and raffles.
Terms and Conditions
All bonuses come with specified terms and conditions. These terms and conditions determined how bonuses are to be awarded, how bonuses are to be used and any monetary limitations the online casino wishes to place on the bonus. The most prominent condition a player has to clear is the rollover or play through requirement. The rollover requirement is based on the amount of the bonus or the amount of the bonus and deposit combined. The rollover requirement usually ranges between 35 times up to 50 times the designated amount. If the bonus was $100, any associated winnings cannot be withdrawn until the player has wagered $3,500 to $5,000, depending on the actual requirement. That’s not very player-friendly, making it difficult for the player to gain any real cash value.