One of the best things to have ever happened to casino players and gamblers is the development of the online casino platform. It’s the only thing that has made playing the casino games easier and more enjoyable since Charles Fey developed the slot machines in 1890’s. Thanks to the online casinos, players can now play and enjoy all their favourite casino games for free and still win real money, thanks to the offers that comes in the form of free money and free spins.
However, this is usually not the case for all the players as some don’t understand what really the casino bonuses are and how to make good use of them so as to maximize the profits, which come with them. In this article, we focus on expounding the different types of offers online, and a few useful tips on how to turn the free money into a profit.
What Are Bonuses?
Bonuses simply refer to the free incentives that the online casinos have to give you. We call them incentives because they could be free money, free spins or free rewards. The reason(s) why the online casinos have to give you the promotions vary from one site to another. Regardless, one of the most popular reasons is to encourage casual, social and pro bettors to sign up at the site and continue playing as members. They do this by giving the new and frequent players varying promotions.
Types of Casino Bonuses
There are different types of casino bonuses, but they are broadly categorized into two groups:
- Deposit Bonuses – They are awarded once you make a deposit into your account. There are different variants including the welcome, the reload, and freeroll/tournament bonuses
- No Deposit Bonuses – They are the complete opposite of the deposit bonuses and are awarded with ‘No Strings Attached’ to them. The no strings attached is a phrase that most of the online casinos will use but in reality, most of them will have other conditions attached to the bonuses. Good examples include the no deposit, free spins and cashback offers.
Regardless of the offer you receive or decide to choose, there are a number of things you have to take into consideration to ensure you’ve maximized on them. Below are some of the most useful tips that will help you maximize on the bonuses.
Tips on How to Get Profit from Bonuses
- Understand the Casino Bonus Percentage & the Maximum Bonus Amount
Offers given to you come in different forms. Some come in the form of a percentage of your initial deposit, capped at a maximum amount. For instance, an online casino website will give you a 100% match deposit bonus up to a maximum of €100. Others will offer a 100% match deposit up to a maximum of say €1,000.
From these two, it’s evident that the two casinos have the same bonus percentage, but the amount you’ll be given is totally different. Ensure you choose wisely and always go for a site that has a higher amount. However, be sure to compare the terms and conditions guiding the bonuses for these two casinos.
- Study the Terms & Conditions Well
Bonuses, just like other types of services online, have terms and conditions that you have to read and understand fully. The terms and conditions contain rules and guidelines on how you are going to claim, use or withdraw the free money. These conditions are crucial to all players, yet despite their importance, very few take the time to go through them.
What useful information should you look for in the terms and conditions section? Well for starters, it usually states who can claim the bonus money. It also states the wagering requirement for players to satisfy before claiming or redeeming the bonus money. Also, ensure you also check out on how different games contribute to the wagering requirement. All these information is crucial towards enabling you to get the most out of the bonuses.
- Get a Clue of Wagering Requirement
Also referred to as the rollover requirement or the play through requirement, the wagering requirement is simply the number of times you have to wager by playing the real money games before you can withdraw your free money. The wagering requirement will always be represented with a number and a × symbol. It’s something that has always brought controversies, especially to new players who don’t quite seem to understand how it’s determined.
Let’s take a close look at Betat Casino which has a wagering requirement of 30× on all its 125% deposit bonus. So, what if you have received €100 on the 125% deposit offer, how much do you have to spend to withdraw your bonus? This is where you’ll now need the wagering requirement.
According to Betat Casino, you have to spend 30× the €100 bonus money before you can withdraw it. In other words, the wagering requirement is aimed at telling you how much you need to spend to withdraw your free money. Different games contribute differently towards this bonus money.
- Understand How Different Games Contribute Towards the Wagering Requirements
As much as you focus on understanding the wagering requirement, it’s worth noting that different games contribute differently towards the wagering requirement. Slots, in particular, have a 100% contribution to the wagering requirement, while table games between 5-8% contribution to it.
How is this important towards profiting from the bonuses? Understanding how different games contribute to the wagering requirement will not only enable you to choose your game wisely but also enable you to manage your bankroll wisely. Players who have better ways of managing their bankrolls have a better chance of winning online.
- Choose a Bonus That Is Easy to Clear
This goes back to the wagering requirement. Different extras have different wagering requirements attached to them. With our previous example, Betat Casino has different extras each having different wagering requirements. 100% offers have a *WR of 30×, 125% offers have a 35× *WR, 150% offers have a 40× *WR, and the 200% offers have a 45× *WR.
From the outgoing, it’s much clear to anyone that the best offer if the 100% one since it has the lowest WR capped to it. It’s worth mentioning that different sites have different WR and it’s crucial you choose one that’s known to have friendly terms.
*WR refers to wagering requirement
- Have a Plan to Manage Your Free Cash
Just as the bankroll is important towards enabling you to manage how you spend your money at an online casino, it’s important you always have a plan that will help you manage your free money, if you wish to get the most out of it. As a rule of the thumb, always spend 1/8 of your free money until you have achieved your goal. If for instance you’ve been awarded €200 free, start by spending €25 and gradually build up on it until you achieve your goal. If the €25 goes to the drain, you still have plenty to use and probably recover the lost money.