How It Works
Deposit incentives are the most common type of casino promotions. These incentives are offered to new customers who make their first deposit with the casino and can range from anywhere between 50% and 300% of the initial deposit amount. Once in your account, these bonuses will give a significant boost to your bankroll but will also come with some restrictions.
Namely, practically every casino provider will ask you to play with the added money before going ahead and trying to withdraw it. This is done to protect the casino from fraudulent activities, but also to make sure you actually experience the real money casino games instead of just trying to pull off a quick win.
Most casinos will require you to play with the money you received between 25 to 50 times before withdrawing. Once you have wagered a sufficient amount of money, you will be allowed to cash out the match up money and the winnings.
Some of the more popular online casino promotions include the ones at 888 Casino, Casino.com, Spin Palace and Leo Vegas. Depending on the casino, you may require special codes in order to claim your deposit match up.
Wagering Requirements Attached to Promotions
As we already mentioned, casinos will require you to play with your bonus money before cashing it out. We said that the common playthrough requirement will be some 30x the bonus amount on average but there are additional rules. Namely, most casinos will only count your wagers at online pokies for 100% of their value, while wagers made at table games will count for less.
Let us explain in an example. Let us say a casino is giving a 100% bonus up to $200. You deposit $200 and receive another $200, for a $400 bankroll in total. Now the casino tells you they have a 30x playthrough requirement you need to meet, meaning you need to play wager $200 x 30 which is a total of $6.000 in wagers. This seems doable with a $400 bankroll for sure.
But the casino also says that they only count pokies for 100% of value, while Roulette, Blackjack and other table games are counted for 20% of the wagered amount. This means you will need to make 5 times more bets playing these games to clear your playthrough requirements. At this particular casino, you would need to wager $30.000 at table games to clear your entire bonus.
The casinos do this because it would be extremely easy for players to clear bonuses using simple systems at Roulette and other table games such as the Martingale system to nearly guarantee that they will get to keep the bonus and make some short term profit. Casinos want you to actually gamble with the money, which seems fair enough seeing as how they are gambling sites. If you do prefer to play table games, the option is there, but it will be much harder to clear your bonus.
How To Choose a Welcome Bonus
Some casinos offer big deposit bonuses with huge wagering requirements. This means you may get to practice play a lot but cashing out will require dedication gameplay. Smaller welcome bonuses usually have a smaller wagering requirement.
The standard choice for a new player would be to take a large bonus and play a lot just to get the hang of the games and for more seasoned players to take a smaller bonus – if any at all. Players should check to see what games will contribute towards your wagering requirements. A lot of casinos offer varying percentage contributions – depending on the games you play (slots are usually 100%). Make sure you check the General terms and conditions of play before you accept a bonus.
The choice is up to you and it will really depend on what you are after.
The "No Deposit" Promotions
Unlike a deposit bonus, no deposit bonuses do not require a new customer at an online casino to make any deposits. Instead, these are usually given out to players upon registration to simply give the real money games a shot with no need to deposits. Some promotions can also be claimed using special casino bonus codes offered at special occasions.
The value of the no deposit promotions is usually smaller than the ones with deposit. You are seldom allowed to withdraw the bonus amount. What you will be allowed to withdraw is the winnings you make playing with the bonus amount, but this too is limited.
A good example of a no deposit promotion is the 888 Casino. The bonus gives you $50 into your player account to play with and allows you to play certain select games with this money. If you make some profit you can keep up to $15 of that upon bonus being cleared. To clear the bonus you will need to wager the $50 at least 30 times.
Do I Really Ever Get To Cash Out?
Yes, some players do manage to cash out some winnings from no deposit bonuses. While playing through the money 30 times or more is not easy, it is doable and if you get a little lucky you may win big. The truth is no casino will let you walk away with all of your winnings, but it was a freeroll in the first place and you got to try out the real money games for free.
What most casinos do allow is for players who win Jackpots to take their winnings. This means if you get exceptionally lucky and win one of the progressive jackpots at the pokies, you can keep the entire amount, which can be in the millions. While chances of this happening are slim, you aren’t really risking anything.
Preferred Payments Bonuses
Online casinos have been using deposit bonuses as a method of getting people to pick them out of hundreds of competitors for over a decade now. This method seems to work quite well, as even players loyal to one casino brand will often deposit with another in order to make use of the generous bonus and at times they will remain with the new casino if they like it just enough.
In the more recent years, the preferred payment method bonuses have been used by the casinos to add something extra to their offering and reward the players even more for using exactly the payment method the casino prefers.
This is done by the casinos to avoid expensive transaction fees and other costs associated with other payment methods, and you will usually get awarded to deposit using a certain e-wallet which will reduce the casino’s costs and increase the player’s bonus size.
Casino Deposit Bonuses Explained
A deposit bonus is usually a cash bonus amount added to a player’s account upon making a deposit. For instance a 100% deposit bonus will add a match amount of 100% of your first deposits up to a certain amount of money.
There are limitations to deposit bonuses however. For starters, you can’t just deposit any amount you desire and expect to get 100% of that amount into your account. There is a limit to how much you can receive and this is usually a few hundred dollars. Furthermore, receiving a deposit bonus will restrict you from withdrawing money for some time, making you play games in order to withdraw the bonus and the winnings you make.
This is called a playthrough requirement and it is the one thing that can make a deposit bonus not seem so attractive. Some casinos will make you wager the entire amount in your account up to 40 times before you can withdraw any money from it. Even worse, not all games count in full towards this playthrough, so if you are a roulette player for instance, you may have to wager your money 800 times in order to be able to withdraw it.
Not all casinos are so strict however, and there are quite a few generous ones out there who will offer you a chance to withdraw your cash without having to wager thousands of dollars. Many such casinos are in fact those who offer the preferred payment bonuses as well.
Advantage Of Preferred Payment Bonuses
Proffered payment bonuses are given by some casinos to encourage the players to make their deposits using a specific payment method. This is usually an e-wallet such as PayPal or Neteller, whereby the casino avoids the extra hassle and costs of banking fees and regulations. Instead, a player makes an instant deposit using the e-wallet and is awarded a little something extra for their compliance with the casino request.
For example, many casinos that normally offer a 100% deposit bonus will offer you an extra 10 or 15% on top of this to make such deposits, or will give you a chance to enter a gadgets competition or play some free spins at your favourite slot machines for free. This is great value for the players, and there is usually very little to lose by claiming such bonuses.
While preferred payment bonuses are not exactly the norm, more and more casinos are using them to cut their costs and award their players even further, in partnerships with the e-wallets and due to the naturally cheaper costs of e-wallet transactions.
Competitions For Preferred Payments
Using the one payment method the casino prefers may not only get you an extra 10 or 15% to your bonus, but can also see you entered into various competitions and promotions of other sorts. For instance, casinos have been giving away free iPhones and iPads in draws entered by the players who decided to make preferred payments.
Furthermore, free spins are a great way for casinos to award the players who make preferred payments, as they give the player a chance to experience more game time without actually risking any of his own money. While it’s not free cash, it’s certainly the next best thing.
Get Started With Preferred Payment Methods!
An increasing number of casinos online are now awarding their players for making their deposits using those payment methods that are favoured by the casino. This is an excellent way for the casino to get their way, but also a great way for you as a player to reap the rewards for complying with this relatively small request.
Sign up with one of the preferred payment casinos and claim your extra bonuses and rewards today for making even the minimal of deposits. The more you deposit using the preferred method, the greater the rewards.
Conclusion: Promotions Rock
Online casino bonuses are really the bedrock of the online casino industry and they really make playing pokies and table games online way more lucrative than playing live. Coupled with higher payouts and more games on offer at the online casinos, there is really little reason to go back to playing live ever again.
We absolutely recommend taking advantage of the fantastic choice of casino bonuses on offer right here at our site and using these to boost your bankrolls and win at online casinos.