Online casinos are very much interested in attracting new customers on their websites. They need them to generate traffic and earn money on placed bets. But with the constantly growing number of online casinos, the competition has become very tough. To tackle this competition from rival casinos, almost all casinos have accepted the idea of welcome bonuses and bonuses in general. The bonuses usually have magnificent numbers attached to them. But players, in turn, must know the ins and outs of welcome bonuses in online casinos. Just like the saying goes, “All that glitters is not gold”; not every bonus that looks awesome is actually awesome. The welcome bonus can directly or indirectly make or break your game.
Types of Bonuses
There are three types of bonuses, and they are the following:
- Sticky Bonus: This bonus is attached to the account and cannot be withdrawn. You can withdraw only the winnings from the bonus, but not the bonus itself. This means that the bonus is meant to be finished in the end, and you must make the most of it while it lasts.
- Non-Sticky Bonus: You may have guessed correctly that this is a withdrawable bonus. Once you can withdraw money from your account, you are also free to withdraw the bonus if it is a non-sticky one.
- Phantom Bonus: The phantom bonus is what you could call a variant of the sticky bonus. The reason is that it is definitely not a non-sticky bonus. It is also not precisely sticky because after you withdraw, this bonus disappears. Hence the name of “phantom bonus.” So the idea is to keep playing to make as much as you can before withdrawing.
There are also different types of welcome bonuses, depending on the way they are attained. Two popular bonuses in this category are:
- No-deposit Bonus: As the name suggests, this is a welcome bonus, which is given for free. It is granted upon the sign-up and does not require anything else to get it.
- Match Bonus: This bonus is a type of welcome bonus given to match a new player’s initial deposits to certain percentages. The number of initial deposits and the percentage may vary from casino to casino. For instance, a casino may give a match bonus for the first 10 deposits, while another may only give a bonus only for the first deposit. Also, a casino may give a 100% bonus on your deposit up to $600. And another may give 50% of your deposit up to $200.
If casinos simply offered free money to players, they would run at a loss eventually. So, all players are not allowed to open an account, get a welcome bonus, and withdraw it. One would probably be able to this severally from many fake accounts. Because that situation is not tenable, especially for the casino, wagering requirements are inherently part of bonuses.
A wagering requirement is the set of procedures that you are required to follow to cash out your welcome bonus winnings. It is stipulated by the casino itself. If the wagering requirement has not been fulfilled, the potential winnings made from the bonus is nothing but virtual money.
Wagering requirements for gambles usually come as a multiplier. If the wagering requirement is 30x the bonus amount, this means you have to wager thirty times the initial bonus amount before the money withdrawal is possible. If the bonus amount were $100, for instance, using the same multiplier, you would have to wager $3000 before you can withdraw winnings with the bonus.
A wagering requirement is also known as a playthrough requirement.
Importance of the Welcome Bonus
If you are new to a casino, the welcome bonus is crucial for getting an overall win. When you are a newcomer to a casino, you probably don’t have the complete layout of how the games and casinos work in general. With the welcome bonus, this problem is solved. You can try your hand at games to understand how they work and how volatile a game is. With such knowledge, you can learn how to plan the management of your bankroll accordingly.
Also, it has to be said that you can win with your bonus. With the understanding of wagering requirements, you know that you can use the wagering requirements for any bonus offered. This way, you can plan how to bet with the bonus to actually make winnings. More importantly, you can choose which welcome bonus is the most suitable for you.
Knowing all these, you can now head over to real slots online casino to try out awesome welcome bonuses.