Introduction to Bonuses
Online casinos offer bonuses to players with the objective of attracting them to the casino or of retaining them as members. However, bonuses are not free funds to take home. They are given only when the player fulfills certain specified conditions. Also the players have to use the bonuses for wagering at the casino. Usually they are only allowed to take home the winnings that accrue from the wagering of the bonuses. In order to fully understand their obligations with respect to a bonus players should read the bonus terms and conditions. Some of the popular bonuses are discussed below.
Write a summary of about 100 words on each of the following bonus types and things surrounding bonuses.
All bonuses have a wagering requirements condition, also known as play through. The deposit and the bonus have to be wagered a number of times before the player can withdraw the deposit and the winnings. Suppose a deposit of $100 gives a 100% bonus of $100 with a wagering requirement of 20. Then the player will have to wager $4,000 before making a withdrawal. Some online casinos implement the wagering requirements only on the bonus, but specify larger wagering requirements. Usually wagering requirements have to be met on a few games categories like slots. If other games like blackjack and video poker are permitted then the requirements are enhanced.
Loyalty Rewards Bonuses
Loyalty rewards bonuses are offered to players for being loyal to the online casino. The more loyal the player has been the more attractive is the bonus offered. Online casinos judge the loyalty of players based on the amounts that they have wagered in a past specified period. The players are then grouped into VIP levels based on their wagering. Players in the highest VIP level will get the most attractive bonuses. This could be a bonus that is a larger percent of the deposit made, or a bonus with a larger upper limit or bonuses that are offered more frequently.
No Deposit Bonuses
Some casinos offer bonuses that do not require the player to make a deposit. Therefore these bonuses are called no deposit bonuses. They are usually given to new players signing up at the online casino for the first time. The welcome no deposit bonus is a small amount given to players to try out the games without having to invest their funds. If they decide to stay on at the casino they can withdraw the winnings from the bonus. Some casinos offer no deposit bonus in the form of free spins for a specified number of credits. Players can keep the winnings.
Match bonuses are so named because the player is first required to make a deposit and the online casino then offers a corresponding bonus. Two parameters are specified with a match bonus. The first parameter is the percent of the deposit given as a bonus. And the second parameter is the upper limit of the bonus offered.
There are two types of match bonuses. New players who are signing up at the online casino for the first time are given a welcome match bonus. This is available only on the first or first few deposits. Regular players are given reload match bonuses. These are offered on a weekly or monthly basis.