Every online casino has a welcome bonus offer for new players. But why do online casinos offer bonuses? Are they so generous and they want to give free money to new players?
7 reasons that online casinos offer bonuses
Why do online casinos offer these signup bonus promotions?
The main reason that online casinos offer bonuses is to attract new players. But there are other reasons too.
Let’s have a look at the 7 most obvious reasons that online casinos offer bonuses and promotions:
It is good marketing for casinos
When an online casino keeps advertising a welcome bonus and reload bonuses to existing players, then this is enhancing their brand recognition and player retention. Just think how much easier is for you to remember a casino brand that you have seen again and again on the TV or on a website with a welcome bonus offer. Bonuses are attention seekers, so from a marketing point of view, it is a great marketing tool for the casino.
Encourage you to play more with them instead of the competition
You can get a welcome bonus when you first sign up with online casinos. This means that you can have more money to play the games you want. With these extra chips, you can try even more games, enjoy more sessions and get a better overall picture of the casino games.
But the bonus promotions don’t stop there. Most online casinos have deposit bonus offers for existing players from time to time and that way you can stick around and play even more with them instead of the competition.
There is always an exchange for casino bonuses
Not many things in life are free, let alone free money! Online casinos offer bonuses because they want new players to open a new account with them instead of a competitor. But these bonuses are not simply free money.
Whether it is a live casino bonus or a slot bonus there are a couple of things that casino players and especially new casino players should be aware of:
- There are wagering requirements that have to fulfilled first before you can cash out the bonus money
- There are minimum deposit requirements
- There are ( usually) game restrictions and other types of restrictions like deposit method, countries and more.
So before you rush into claiming a new customer casino bonus, you need to make sure you are aware of these and read through the basic requirements at least.
Can you make money from casino bonuses?
This is the most common misconception when it comes to casino bonuses especially for new players.
If you are an experienced online casino player then you are probably aware that the online casino bonuses are not simply free money for nothing.
But if you are a new casino player you might be thinking that. If you have ever worked in the customer support department of an online casino or you have a friend that has worked there you know this is the most common query from new casino players: “Why can I not withdraw my balance”.
As we have explained above there are some restrictions that come with the bonus money so you can’t for example deposit £100 get a £100 Bonus and then after a few game rounds withdraw any remaining mixed balance of your deposit funds and the bonus funds.
Here is an example of how a casino deposit bonus works:
- You Deposit £20 and start with a £20 bonus (if the offer is a 100% Deposit Bonus)
- Playthrough or wagering requirement is 40x
- 40 x 20 = £800 which is the amount that must be wagered before you can transform the bonus money into cash
- Let’s say now that you have £50 left after completing the playthrough
- You can now withdraw £50 as long as this amount meets the casino’s minimum cashout
But if you try to withdraw any amount before you complete the wagering requirement you will end up losing the bonus money.
So you need to be aware that as soon as you are accepting the bonus, you need to fulfil the wagering requirement for that bonus to become hot cash. Some players go for low wagering casino bonuses in order to be bale to cash out faster.
You should also need to be aware that you can’t simply roll over the amount that is required in all the games, as there are game restrictions to discourage bonus abuse.
Different types of bonuses
There are different types of bonuses that you can find in online casinos like welcome bonus, reload bonus, free spins, cashback etc.
All these different casino bonus deals serve different purposes from the casino point of view.
A welcome bonus is aimed at new casino players that don’t have an account yet and are looking to open one.
A reload bonus is aimed at existing players. Usually rewarding a players loyalty if they have deposited a few times in the past or trying to get the player to deposit again if they haven’t deposited for a while.
Free spins can be for both types of players, new or existing. Usually, free spins for new players come along with a deposit bonus and are restricted to specific slot games. For existing players, Free Spins can be part of a weekly bonus offer or promotion that might require a small deposit or might just be a freebie.
Is it worth claiming these sign up offers?
If you are a regular casino player and you are playing a lot of games, then yes a casino welcome bonus or a reload bonus is worth it. A casino bonus will give you the chance to play even more sessions, enjoy even more casino games and entertain yourself for longer periods.
Most new casino players are taking advantage of these bonuses.
However, if on the other hand you are not planning to spend a lot of time gambling online and you just want to have a few casino sessions once in a while, then a casino bonus might not be for you.
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My name is Yannis and I am also known as Mr Live Casinos in the iGaming industry. I have been playing casino games for more than 20 years and I have been reviewing and writting about casino games and online casinos for the last 10 years