Online casinos welcome bonuses and how they work
Generally speaking, most people wouldn't just throw their money away on the off chance that they might receive more. Suffice to say, money is relatively difficult to come by. If there is one industry that knows this, it's the gambling industry. This is why almost every online casino offers some kind of welcome bonus in the hopes of enticing potential customers to register and gamble on their site. Would you be able to resist the temptation of being given free money to use in order to potentially make more money?
There are many different welcome bonuses that come in different forms, and they are all quite alluring. However, they can be quite without use if you are not familiar with the terms and conditions that are attached to some of them. This is why it would be a good idea to become acquainted with how a few of them work. We consulted the experts at Casino Reviews NZ to explain what you need to look out for when choosing a casino welcome bonus, if you decide that you want to play now they have an up to date blog post covering the best online casino bonuses available in New Zealand.
While the offer of free money does sound very inviting and too good to be true, in most case it usually is. However, as with most things in life, there is usually some kind of catch. When it comes to casinos giving away free money, that would be the waging requirements that are sometimes attached to these bonuses. It's mainly used as a form of protection against players creating multiple accounts, or registering to more than one casino to claim bonuses.
A wagering requirement is essentially how much you would need to wager/bet before being able to withdraw winnings made using a bonus. A common wagering requirement would be something like 30 x “Whatever bonus”. In an equation that would be 30 x $10 = $300, for example. This means you will need to wager at least $300 before being able to claim any winnings made using the bonus.
No deposit bonus
This is the most common and relatively profitable bonus that an online casino can offer, since it is what the name suggests. With this kind of bonus, you need only register to the site and the casino will give you an amount to play with for free. It is usually small, between $10 to $30, but can sometimes be more. With higher amounts you should naturally expect a wagering requirement.
You may wonder why such a small amount can be beneficial. Well, this kind of bonus allows players to test out a casino and see how the games work, and it isn't restricted to one kind of game, like slots for example. It can be profitable as any money that is made using this bonus can be withdrawn, or used to make more.
A deposit bonus is essentially the opposite of a no deposit bonus, and in order to receive this bonus, a player needs to make a cash deposit first. Upon making your first deposit you will receive additional money, which is also usually not much since there is always a limit to the amount of money deposited eligible for the bonus.
A deposit bonus would look something like “50% deposit bonus up to $200”. This means that the max amount of money eligible for that 50% extra is $200, and depositing more than that won't get you anything more than $100.
In addition to this, this kind of bonus almost always has wagering requirements, although not very high since you are making a deposit to receive the extra money.
A match bonus is similar to the deposit bonus, except the limit for the eligible deposit is higher, and so is the total amount of money you will have. This kind of bonus will give you extra money that matches the deposit you make.
A typical match bonus will look something like this “100% match bonus up to $300”. This means that if you deposit $100, the casino will give you $100, making your total $200. If you deposit $300, then you will receive $300, making your total $600. Depositing more than the stated amount will not give you more.
These kinds of bonuses always have wagering requirements since the casino is giving you a lot of extra money to play with. For match bonuses it would be advised to accept only if the wagering requirements are low, since you won't be able to cash out your first deposit if you have accepted the terms and conditions of the bonus.