What is casino bonus
Casinos in general give away sign-up bonuses to all players when making their initial deposit, as well as on subsequent play. Such bonuses are an incentive to those players to sign up with the online casino websites. It is a type of marketing that is offered at a cost, as a casino is actually giving away money as a reward to any player to bet a specific minimum of money before he/she can withdraw.
Casino Bonuses are of various kinds. It is interesting to look into them.
- Welcome bonuses: the welcome bonus is offered to you as soon as you make an initial deposit before beginning to play with the casino. This type of bonus is offered in the form of packages that are offered to match the initial deposits. These are sometimes restricted to certain specified games, like the Welcome Slots Bonus. Welcome bonuses are also provided for high rollers, making their first deposit that is higher than the standard amount limit.
- Referral bonuses: referral bonuses are essentially of two kinds; one is offered to the referee and the other to the referrer. The referee receives a bonus whenever he/she opens an account with a casino, and goes on to mention the referrer. They then obtain a bonus as soon as the referee satisfies every requirement, like making the first deposit as well as betting it a specific number of times.
- Insurance or cashback bonuses: this type of bonus comes as a certain percentage of the losses suffered by the player in his/her previous gaming activity. Usually, deposits that weren’t matched with the bonuses alone are considered for this bonus. There are websites offering cashback bonuses based on the losses suffered when playing with online casinos. These cashback bonuses are generally paid back to the players.
- No deposit bonuses: this is the most popular type of online bonuses as these are offered to the player without the necessity of making a first deposit, from his/her own pocket. Such bonuses are in effect acquisition tools of the casinos used to entice new players to their online portals. No deposit bonuses needn’t be always offered as real cash.
- Non-cashable bonuses: also known as phantom or sticky bonuses, this type of bonus is credited to the player’s balance, although he or she can’t cash it out. There is a difference here that becomes obvious at the time of cash out. Like its name implies, the bonus remains in the player’s account till it gets lost, while the phantom bonus vanishes as soon as the player makes a cash out.
Casinos have certain turnover requirements while giving away free bonuses of all kinds. They do this to safeguard their own interests. If a player stops playing with a free bonus when he is quite ahead in winnings, the casino will lose money fast. To prevent this, casinos have devised a counter-measure in the form of turnover requirements. The terms and conditions of casinos will make these requirements clear to you while you are signing up with one. This requirement will spell out to you the specific number of times a player have to wager using the bonus money, before being permitted to withdraw his or her winnings, if any. In case you cannot do this, then all of the bonus balance over and above the specific amount of matched deposit will be considered as cancelled.
However, you are at liberty not to fulfill the turnover requirement or surrender your bonus for some reason or other, by informing customer services. In such a case, your whole bonus balance over and above the matched deposit money will be cancelled.