Fans of online casino games have never had it so good as today. There are countless casino promotions promising lucrative bonuses. You will get up to 150% matching bonus on your first deposit, and up to 100 free spins to play your favorite slot games.
There are hundreds of online casinos where you can access these bonuses. If you are new to casino gaming, slot games are the easiest introduction to online gaming. You can learn with free slot machines and games without risking your money.
Types of Bonuses
Casinos have different bonuses to attract different categories of clients: new members, loyal active members, and dormant members.
Sign Up/Welcome Bonuses
This type of bonus has become standard. Welcome bonuses are very generous these days. They come in either matching deposits, or free spins. Most slot games are targeted and eligible to welcome bonuses.
No Deposit Bonus
This type of bonus allows you to play specific games without wagering a real money stake. Newbies love this bonus because it comes with zero risk, while promising real money wins.
But the fine print often comes with restrictive terms and conditions. They come with high wagering requirements and restricted games.
You get this bonus every time you deposit money to your casino account. It is done as a matching percentage of the bonus.
Characteristics of a Good Bonus
A casino is in business to make money, so expect that there will be terms and conditions that place you at a disadvantage. Wagering requirements demand that you wager a specific amount before you can access winnings coming from your bonus.
A good bonus should not have terms and conditions that are too restricting as to make it useless. It is important to look at the fine print before jumping at a bonus.
You could end up losing more than the bonus offers if you do not understand the T&Cs of the bonus. It is also good to have realistic hopes. Here are the characteristics you can use to tell a good bonus:
Playthrough or Wagering Requirements
High wagering requirements force you to lay more, exposing you to higher chances of loss. If you have a welcome bonus of $20 with a playthrough of 20x, you must stake $400 before accessing the bonus.
Reasonable playthrough is between 20x and 40x. But some unscrupulous casinos go as high as 60x. It is almost impossible to get anything out of a bonus with a playthrough above 50x.
On the lowest side are no wager casinos who do not have any wagering requirements on bonuses. These are very rare.
Be careful of no deposit bonuses which require you to wager your deposit on top of the bonus. For example, a no deposit bonus with a playthrough of 20x requiring that you wager a deposit on top. It will lock your money, forcing more play and higher risk.
The bonus must be valid for a reasonable period in which you can meet the wagering requirements. Most casinos offer 14-30 days, but there are some offering up to 90 days to exhaust your bonus.
Minimum Cashout Rules
How much of the bonus can you withdraw as real money? Some casinos will have limits on how much you can withdraw after winning with a bonus. It locks your money for longer, forcing you to play more and reach the minimum limit.
Which games can you play with the bonus? Free spins and no deposit bonuses are often restricted to specific games where the casino has a higher edge.
It is important to read and understand the terms and conditions of a bonus before claiming it. Bonus can lower your risk if used with a good strategy. Luckily, there are hundreds of bonuses to hunt for lucrative ones.