The online gambling market is highly competitive, and casinos are competing for their piece of cake. They attract new players and retain the regular ones by giving them all kinds of bonuses.
If you’re new to the world of online gambling and you’re still not sure which bonus is the right one for you, you’re on the right page. In this article, we’ll quickly guide you through some of the most important aspects of bonuses that make them profitable. Mind you, and we’ll focus on welcome bonuses exclusively offered to new members of online casinos. Read on.
In most cases, you’ll receive a welcome deposit bonus, which is awarded upon your first deposit. However, some online casinos will also offer a no deposit bonus, which you’ll receive just for signing up. These are much smaller than deposit welcome bonuses, but they are always a welcome sight.
However, for now, we’ll focus on first-time deposit bonuses, and they usually offer bonus money, free spins on both. It’s up to you to decide whether you’d like to get the money or the spins. You should pick the latter if you’re into slots.
To get an idea of how lucrative a welcome bonus is, you should compare it to the welcome bonuses of other casinos. However, please bear in mind that this is only the external value of the bonus. As you’ll see in the sections below, there’s also the internal value of a bonus attached to various rules, terms, and conditions that come with the prize.
The wagering requirements tell you how many times you need to wager through your bonus amount before you can cash out your bonus funds. For instance, if the wagering requirements are 20x and your bonus is $100, you’ll have to wager a total of $2,000 to unlock the bonus.
Each casino has different wagering requirements. Compare them to see if there’s a realistic chance to meet them.
Some games don’t contribute 100% to wagering requirements. For instance, games with a low house edge, such as blackjack, will often contribute just a portion or won’t contribute at all. If a game has 0%, spending your money on it simply won’t make any difference. It’s up to you to check how each game contributes.
Bonuses usually expire after some time. For example, if the expiration period is 30 days, it means you have that much time to meet the wagering requirements. The longer the expiration period, the better. This is another important aspect you should check to determine whether the bonus is profitable.
Sometimes, online casinos cap the maximum amount of money you can win using your bonus money or free spins. For instance, if the maximum win amount is $100 and you receive $200 as a prize, the surplus will be confiscated. This is not common, but it’s worth checking the T&C section to see if it’s there.
To sum up, bonuses have an internal and external value. The external is the one that’s marketed, and everyone can see it. The internal is located in the Terms and Conditions section of every bonus, and you should pay special attention to learn whether the bonus is indeed profitable.