GUIDE TO DEPOSIT BONUSES
Last Updated on July 19, 2020 by Jennifer Wright
There are many things people normally look for when searching for a best casino site with the top gambling experience. While some people are more interested in the type and range of games available at a casino or the availability of lucrative opportunities such as progressive jackpots, others will be more concerned with the kind of bonuses the casino gives its new users. There are many factors to consider in your search for the best online casino but one thing you shouldn’t ignore is the deposit bonus.
A deposit bonus is an offer you are normally given by the casino as soon as you deposit funds into your account. Different casinos have different amounts, percentages, and rules governing this offer which is why it is important to ensure that you read their terms and conditions before you make the deposit. In this guide to deposit bonuses, we look at a few things you should know about this type of bonus and how you can use it to your advantage.
WHAT IS A DEPOSIT BONUS?
Like the name suggests, a deposit bonus is the free playing money transferred to your account by the casino when you sign up to the casino and make your first deposit. The exact amount you get in a deposit bonus varies depending on the casino’s rules but it is usually a percentage matched to the amount you have deposited. For example, if the casino offers a 100% first deposit bonus, you’ll get an extra £50 if you deposit €50 and end up with £100 in your account or £200 more if you deposit £200 and end up with £400 in your balance.
Another popular form of deposit bonus is where you get free money after you make a deposit regardless of the amount you have deposited. For example, some new online casinos will give new players a first deposit bonus of £50 as long as the customer has deposited £75 or more.
Keep in mind that there is usually a limit to the maximum amount of bonus you can get. The casino usually has a cap on the amount of deposit that qualifies for the bonus. For example, if they offer a 50% bonus matched to your deposit, they’ll usually say that the bonus is available to a maximum of £500. In this case, any amount above £250 does not qualify for the bonus.
There are also other wagering requirements that you must satisfy before you can withdraw winnings from the bonus money. Nevertheless, a deposit bonus can significantly boost your bankroll and offer you an opportunity to test out new games in online casinos. The casino also benefits by using the deposit bonus to attract new members.
WHAT ARE THE WAGERING REQUIREMENTS FOR DEPOSIT BONUSES?
Wagering requirements or conditions ensure that while giving players an opportunity to play using the casino’s money, the casino operator doesn’t end up incurring heavy losses. The requirements are like an arrangement that ensures the free money given to players is used in the casino for a given number of times before it can be withdrawn. For example, if you are offered £50 as a first deposit bonus with a 20x wagering requirement attached to the bonus, you’ll have to play the free money 50 times or £1000 before you can withdraw your winnings. Some casinos will also limit the games you can spend the bonus money on.
It is therefore important to check the wagering requirements of the promised bonus when searching for the best casino to join. Remember, the higher the number of times you are required to play with the bonus money before you can withdraw, the more likely you are to lose much of the bonus back to the casino. Also, check if there are limitations on the number of games where you can play with the bonus money.
DOES THE BONUS AMOUNT APPEAR ON MY MAIN ACCOUNT BALANCE?
Different casinos have different ways of separating your bonus from your actual deposit. Most casinos will have separate wallets for your main balance and bonus balance. After you’ve met the wagering requirements, the bonus will then be added to your main balance and made available for withdrawal. This type of arrangement helps you to know when the bonus is ready to be withdrawn. There are other casinos that credit the bonus directly to your main wallet but still retain the same wagering requirements.
HOW TO GET THE BEST OUT OF DEPOSIT BONUSES
To get the best out of deposit bonuses, start by checking how much each online casino offers in terms of deposit bonuses and the wagering rules attached to the offer. Online casinos are always competing for customers by offering the best online casino bonuses and terms. You can always use casino review sites to find which online casino has the best offers.
Casino review sites will also offer bonus codes that must be used in a casino to get a deposit bonus. The codes are a combination of characters that you use to get the free playing money offered by most casinos when you sign up or make a deposit. In some online casinos, the bonuses can be used in different games including slots, table games, and poker. Remember, the bonuses are designed to attract you to the casino but you can always use them to your advantage.