People are instantly attracted by big, flashy signs that offer special promotions, sales, or special editions of our favorite products. However, the question is — are those promotions really favorable, and do we actually save money, or do we just pay for the pretty packaging.
Opinions differ from person to person. Naturally, shopaholics believe they’ve gotten their money’s worth, while others remain skeptical.
Online casinos are no different; once you sign up, you’ll probably be bombarded by an onslaught of bonuses and promotions. It’s up to you to explore which ones will make a difference. Once you’ve scratched the surface of the intricate world of casinos, you’ll come to realize that there is an abundance of offers.
In recent years, the iGaming industry has reached a peak in popularity. With so many competitors on the market, it is no wonder that online casinos try to make their welcome bonuses as attractive as possible.
If you are a newcomer, these tempting offers may seem like an easy way to earn some extra cash. But is it that straightforward?
Continue reading as we delve into the world of welcome bonuses while trying to figure out if they’re too good to be true.
Types of Bonuses
You’ve probably noticed that there are several types of bonuses when it comes to online casinos. As operators grow, they continue to provide a variety of offers to attract and retain their loyal customers.
Let’s have a look at the types of bonuses you may encounter while browsing.
No Deposit Bonuses
If you are a beginner, you’ll surely enjoy the concept of no deposit bonuses. As the name suggests, these bonuses don’t require a deposit.
- Note: Not all casinos offer such perks, and those that do usually come with strings attached.
Namely, a no deposit bonus is offered to players who have just set up an account.
Typically, players get some free cash they can use to wager. However, wagering requirements are often very specific, and bonuses are limited to certain games. As a result, the amount of money you can win is negligible.
If you just want to try your luck at different games and see which one works best for you, a no deposit bonus may come in handy.
Free Spin Bonuses
Some casinos offer a number of free spins on slots free of charge upon signing up. In most cases, no deposit is required, so the value of these bonuses is unquestionable.
Best of all, players can win real money, even though the game selection may be limited.
We advise new players to read terms and conditions carefully to avoid any misunderstandings.
Deposit Bonuses
The most common type of bonus is a deposit bonus. The logic behind it is pretty simple — once a player makes a deposit, they will get a corresponding bonus.
They are noted for being the safest bonuses since they are basically rewards for deposits. If you want a fair deposit bonus, you’ll need to do some research first.
- Note: Don’t be fooled by the flashy promos; not all casinos are the same, and therefore not all deposit bonuses are made equal.
Depending on the casino you choose, you can get anything from 50% to 200% of your deposit in bonus cash.
Meanwhile, you should also consider the playthrough requirements and their fairness. Ideally, the casino should offer a playthrough requirement of 30x or lower.
Cashback Bonuses
These bonuses are practically a reward for being a loyal player.
- Note: Players receive a percentage of wagered money back for being faithful customers.
While some consider cashbacks compensation for money lost while playing, it’s still a popular offer on many online casino sites.
Just like no deposit bonuses, cashback bonuses are not offered by all casinos, so coming across them may be a pleasant surprise for avid players. Such bonuses are never over 10% or 15% of your total losses for a given month, so keep that in mind while playing.
What Are Welcome Bonuses?
A welcome bonus is an umbrella term covering free money for players to use on different games, free spins, or both, and popular deposit bonuses. It’s usually the first and largest bonus given to new players since all casinos want to impress them.
We have to admit that the marketing strategy behind these is quite magnificent. It’s a great way to attract and reel in new players all wrapped up in pretty packaging.
Online casinos promise chances of winning ridiculous amounts of money while using said bonuses. More often than not, they seem like the deal of a lifetime. However, before you get hooked, it’s essential to read the terms and conditions of all welcome bonuses carefully.
- Note: Being objective will save you the disappointment and maybe even help you earn some cash.
Upon careful inspection, you’ll come to realize that welcome bonuses have many limitations. Some pertain to game restrictions, where some games are excluded from wagering requirements. Others are time-sensitive, or they have limits on the cashout.
Are They Worth It?
If you want to make the most of your bonus, picking a reputable casino is the key to success. Whether you’ll get your money’s worth depends on the terms and conditions. If the terms are not in your favor from the very start, chances are you’ll not do well. However, that’s the thing with all casino games — we have to be prepared for all kinds of scenarios while playing.
People’s opinion on welcome bonuses is still divided, and we doubt that this will ever change. Nonetheless, welcome bonuses can be an excellent opportunity to earn extra money on the side.
Picking a trustworthy casino and a game you’re good at will undoubtedly increase your chances of winning. There are many great deals out there; you just need to know where to look.
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