Online gaming has grown in popularity over the last five years and is now one of the most competitive sectors of the entire gambling industry. The reasons for its popularity are easy to understand. Online casinos are more accessible than land-based casinos for most people, they offer a greater range of games and innovate more rapidly than traditional casinos can, and playing at them is more convenient.
Another reason for the success of online casinos is the various online gaming bonuses and promotions that are offered to players. Bonuses and promotions are offered to new and returning players as a way to encourage signups, get players to try new games, incentivize play and deposits, and reward loyalty.
These bonuses and promotions allow online casinos to stand out in a crowded market. They can be of great benefit to players, especially the bonuses that provide free credit without requiring any financial investment. The competition for business also means that online casinos are constantly working to come up with new bonuses and promotions.
However, with so many different bonuses available, it can be a bit confusing for players who are new to the online casino scene or who haven’t previously paid much attention to promotions. To help clear up that confusion, we’ve created this handy guide to the different popular online gaming bonuses and promotions.
When are Bonuses and Promotions Offered?
The first question that most players have relates to when bonuses and promotions are offered. The majority of bonuses are offered as welcome bonuses. These are awarded to players when they create an account and/or make their first deposit. These bonuses are designed to attract new players and get them started trying out a selection of games.
As the online casino market has expanded, there has been more variety in when bonuses and promotions are offered. Some promotions are offered for extended periods of time through a game provider, like Pragmatic Play. Seasonal promotions are a popular new addition because they capitalize on excitement surrounding holidays such as Halloween, Christmas, Saint Patrick’s Day and the Fourth of July.
Specific promotions are typically offered on a weekly basis. These encourage players to keep coming back, playing and depositing regularly in order to benefit from the promotion. Often, weekly bonuses include reload bonuses and cashback bonuses.
Loyalty and VIP programs are another way that promotions are offered. At each new level that a player reaches, a new set of benefits is triggered. Some VIP programs are by invitation only, while others are launched as soon as an account is created.
There are also daily bonuses, which typically take the form of a prize wheel or box. Players have one opportunity per day to receive a bonus by spinning a lucky wheel or selecting a random box to open. These are more engaging than traditional daily login bonuses and add variety to what the bonus could be.
Wagering Requirements
Wagering requirements need to be talked about, because many new players don’t understand what they are or even know that they exist. This can result in not being able to claim bonus winnings, which will lead to disappointment.
With one exception that we’ll discuss later, all bonuses have wagering requirements. A wagering requirement is the amount a player has to bet in order to claim any winnings made from bonus credit. The standard wagering requirement is from 30-40x but can be as high as 70x. So, for a bonus of $10 with wagering requirement of 35x, a player would need to bet $350 in order to meet the requirement.
Free Spins Bonuses
Free spins are the most commonly offered bonus in the online casino industry. Free spins make up part of nearly every welcome bonus package and are frequently a component of other promotions. The list of free spins bonuses provided by CasinoTopsOnline is a good place to start looking for the leading free spins bonuses available in a selected region. It gives an idea of how widespread this bonus type is.
There are usually some limits on free spin bonuses. The spins can generally only be used on specific games. In some cases, all of the spins have to be used on the same game, but in others, the spins are divided among several popular games. Generally, the slot games for free spins are some of the most popular slots.
Deposit Matching Bonuses
Deposit matching bonuses are nearly as common as free spins bonuses. They are included in almost every welcome bonus because they give players a huge boost when they’re just starting out. With a deposit matching bonus, the amount a player deposits is matched with free credit up to a certain amount. Depending on the online casino, this can range anywhere from $50 to $500.
One of the recent improvements to deposit matching bonuses is that they are now often spread across the first several deposits instead of just one. When players are rewarded with deposit match credit across multiple deposits, there is less pressure to make one large initial deposit.
No Deposit Bonuses
No deposit bonuses are welcome bonuses that don’t require a deposit to claim. These bonuses are typically smaller than traditional welcome bonuses, but without the pressure to make a deposit, they are a great deal for players.
No deposit bonuses are usually made up of free spins and free credit. The free credit can be used on table games or slots, which allows players to try everything that the site has to offer.
No Wagering Bonuses
No wagering bonuses are the exception that we mentioned earlier. These bonuses are rare because they are worth so much to the player and don’t benefit the online casino as much as other bonus types do.
With a no wagering bonus, there is no wagering requirement. Players can immediately make a withdrawal of bonus credit or winnings without first having to bet a certain amount. This bonus type helps players feel comfortable trying out a new online casino and builds more loyalty between the player and the casino than bonuses with a high wagering requirement.
Reload Bonuses
Reload bonuses are similar to deposit match bonuses except that they are a way to reward returning players for continuing to make regular deposits. With a reload bonus, a player receives a percentage of their deposit as bonus credit.
The percentage of credit is usually fairly small; however, these bonuses are generally offered on a weekly basis. This means that players can claim a reload bonus regularly instead of just once, as in the case of a welcome bonus.
Cashback bonuses
Cashback bonuses are typically offered on a weekly or monthly basis. They are similar to the familiar cashback programs offered by credit cards. These bonuses return a percentage of a player’s losses in the form of bonus credit. Usually, when an online casino has a loyalty or VIP program, one of the major perks is that the cashback percentage increases with each level.
Players like cashback bonuses because they reduce the amount that they have lost. Online casinos like offering these bonuses as they make players feel comfortable spending a bit more, because they know they’ll receive some of it back at the end of the month.
