Online Casino Bonus
Online casinos often offer signup bonuses to new players when they make an initial deposit. These bonuses create quite a bit of competition between casinos online and offer great rewards to customers. Normally, a bonus matches a percentage of the customer’s deposit with a maximum amount. In addition, it’s very common for the casino to require a minimum amount of wagering and playing before the player can cash out. Specific games may also be excluded from the requirement. Although a matched percentage is the most common type of sign up bonus there’s also the no deposit bonus, meaning no money needs to be deposited to claim the bonus. For example, free spins or the ability to pay for a predetermined amount of time with x amount of money.
There are four types of bonuses offered at online casinos. The first is the sticky bonus. These are non-cash bonuses that can be bet but never cashed out. When the player decides to make a withdrawal from their casino account the sticky amount is usually deducted. For example, if you receive a 200% match sticky bonus on a $100 deposit, with a $2,000 wagering requirement. When you play you can bet the $100 plus $200. Once you meet your $2,000 wagering requirement and attempt to withdraw your cash, $200 will be deducted. The second type of bonus offered is the cash back bonus. This is simply given when a player loses money, a portion of the loss returned as cash.
As an example, a casino may offer a player a 20% cash back bonus each week. If you’ve had a loss over the week you’ll receive 20% of your loss back. Cash back bonuses are not offered very often. The third type of bonus is comp points. These are very common at traditional casinos but rare online. Comp points can be exchanged for prizes, cash and other things. An example of a comp point offering is as follows: a casino offers 2 comp points for every $10 wagered on blackjack and 1 comp point for every $10 wagered on slots.
The casino will give $1 in cash for every 100 comp points earned. As you can see, this is worth very little, coming out to about .01% cash earned. By far the most popular and common bonus offered at online casinos is the cashable bonus. These may be cashed out when you complete your wagering requirement with the casino. A simple example of a cashable bonus is this: a casino offers to match 100% of the signup amount up to $100 with a wagering requirement of $1,000. When you’ve wagered $1,000 in the casino and decide to cash out, you’re allowed to cash out the $100 bonus. In general, rules are set on cashable bonuses. Usually, certain games are restricted and don’t count towards the wagering requirement. Games that are usually restricted include roulette, baccarat, craps, sic bo, blackjack and video poker.
There are a couple reasons for this. Some of these games allow players to bet on winning and losing outcomes (like betting on both red and black), reducing the variance of play and loss. Some games also have a lower house edge, meaning less money can be lost. For low-house-edge games, like blackjack, the casino may simply raise the wagering requirement.
