Taking everything into account, it seems like online casino bonuses don’t have any downsides. The reality, though, is that you do need to worry about certain things while pursuing these deals. The following guide discusses what you should be aware of when going after casino bonuses.
Different Types of Casino Bonuses
The online gaming world offers a variety of bonuses. You can see the main types of deals along with how they work below.
A welcome bonus is the first deal that you’re eligible for upon joining a new online casino.
It’s also typically the largest bonus available at any gaming site. After all, mobile casinos want to impress new players. What better way to do this then by offering a deal worth hundreds or thousands of dollars right away? Most of these bonuses cover you have no deposit bonus.
For example, a mobile casino might offer a 100% match bonus worth up to $500. If you deposit $250 in this case, then you’ll be eligible for a $250 bonus.
- Some welcome deals cover multiple deposits. Here’s an example on how this works:
- An online casino offers a welcome bonus worth up to $1,000.
- The first deposit is eligible for a 100% match bonus worth up to $200.
- The second deposit is eligible for a 100% match bonus worth up to $300.
- The third deposit is eligible for a 75% match bonus worth up to $500.
While welcome bonuses are nice, they’re only one-time offers. That said, you want extra chances to earn money once the welcome deal is no longer available.
No Deposit Bonus
The deals covered so far require you to place a deposit. A no deposit bonus, on the other hand, merely requires you to complete registration.
You use the bonus to rack up winnings that can later be cashed out after meeting terms and conditions.
Here’s an example on how a no deposit bonus works:
- You register and receive a $20 no deposit bonus.
- You have $12 left (winnings) after meeting T&Cs.
- You can cash out this money, provided it meets the minimum withdrawal.
Free spins can come in the form of either a no deposit or deposit bonus. In either case, you receive free spins for use on real-money slots.
Other times, they’re eligible for most or all of a casino’s slots.
Here’s an example of free spins:
- You make a deposit and receive 100 free spins.
- You use these spins to generate $25 in winnings.
- The $25 can be withdrawn after you’ve met terms and conditions.
The deals described above all revolve around winning bonus money. Cashback, on the other hand, pays back a percentage of your losses.
Any losses that you accrue within a certain timeframe after depositing will be returned up to a certain percentage.
Here’s a closer look at how cash back works:
- An online casino offers a 20% cash back bonus worth up to $200.
- This deal covers losses over your first 7 days after depositing.
- You lose $100 within the first week.
- 100 x 0.2 = 20
- You’re now eligible to earn $20 in bonus funds.