Casino Welcome Bonuses
When you think of the online casino industry, you think of colourful slot machines, attractive live dealers, and an endless succession of gaming titles. But the one thing that stands out above all else, the idea that stands at the forefront of most player’s minds, are the bonuses that casino sites offer! Casino bonuses are the buzzing neon banner-offers that attract players to join the site. They are the focal point of most marketing campaigns. When it comes to casino bonuses, nothing is more coveted than the welcome bonus. So, what makes these bonuses so unique, and why are they so highly sought-after by players?
What is a Casino Welcome Bonus?
As the name suggests, casino welcome bonuses represent a welcome gift for new players signing into a casino. They are the digital equivalent of the massive red “sale” banners that hang from department store doors and the free drinks offered by your local bar. Contrary to what you might think, most online casinos don’t create their games, nor do they code their platforms. These services are provided by third-party companies and licensed to hundreds and even thousands of websites at once. Third-party platforms also provide the licenses, payment structures, and all of this means there isn’t much of a difference between one casino and the next. It can be challenging, therefore, for a brand-new casino to compete with established brands. Welcome bonuses help newcomers to do this, allowing them to stand up and be counted, to enter a crowded room, wave their hands, and scream, “Look at me!”. Casino welcome bonuses can help a new casino to compete with the biggest and best brands in the casino sector, allowing them to gain a large following very quickly. It represents a chance for you as a player to use generous sign-up offers an increase in winning potential!
How Casino Welcome Bonuses Work?
A welcome bonus comes in several forms. Sign-up offers can include no deposit bonuses, whereby you are given free funds to gamble with, and free spins, which allow you to spin some slots for free! The most common online casino welcome bonus is the matched deposit bonus. In simple terms, this bonus matches your deposit with a pre-determined sum. It literally “matches” your deposit and gives you free credits to gamble. Free credits can often be used as cash, allowing you to play casino games with bonus money. However, it’s not quite that simple, as there are some key terms you need to know and some potential issues you should be aware of.
How are Welcome Bonuses Structured?
100% Matched Deposit Bonus (up to £200) and 200 Free Spins The above is an example of a welcome bonus, similar to the ones you can find at a vast number of online casinos now. The three essential aspects of this bonus are: Percentage Match (e.g. 100%): The amount that your deposit will be matched. If you deposit £100 with a 100% bonus, you’ll get 100% extra, which essentially means your deposit will be doubled for a total of £200. If it’s 50%, you’ll get an extra £50; if it’s 200%, the additional amount will be £200 for a total of £300. Cash Limit (e.g. up to £200): The maximum bonus cash that you can receive. In the above example, you won’t receive more than £200. Any deposit above this amount will return the maximum of £200. Extra (e.g. 200 free spins): Welcome package bonuses typically give you free spins and other extras. These can increase the value of the bonus and serve as the icing on the cake. Some online casino welcome bonuses take things a step further and spread across multiple deposits. In such cases, they may look like this: First Deposit: 100% up to £100 Second Deposit: 50% up to £200 Third Deposit: 25% up to £400 Fourth Deposit: 25% up to £400 Fifth Deposit: 200% up to £200 The casino won’t state all of these details on the main bonus offer. Instead, you will see a bonus presented like the following: “£1,300 Welcome Bonus”. You can find more details on the bonus T&C. Wich is highly recommended to read before depositing at an online casino.
How to Calculate Bonus Value
There is much more to a welcome bonus than the details we briefly outlined above. Most of this information can be found in the bonus Terms and Conditions, often as a bulleted list at the bottom of the dedicated bonus page. It’s important to consider all of these elements when deducing the true value of a welcome bonus:
In addition to the deposit cap, outlined above, online casinos also require you to deposit a minimum amount before you can qualify. For most casinos, this amount is £10, but some are fixed as high as £20. If you deposit less than this, you won’t qualify, and the bonus will be voided. Casinos may also restrict you to specific payment methods. Some insist that you use a debit card to qualify, others allow multiple deposit methods but not e-wallets Neteller or Skrill.
True Spin Value
The majority of players focus only on the number of Free Spins being offered and not on the value of these spins. That’s because the former is listed clearly in the casino’s marketing. At the same time, the latter is hidden in the terms and conditions. But the value of the spins is arguably more important. For instance, an offer of 100 Free Spins might seem considerably better than an offer of 50 Free Spins, but not if the former is fixed at £0.05 each and the latter at £0.20. It’s the difference between a cash bonus of £5 and one of £10.
The wagering requirements are incredibly important and are the backbone of all welcome bonuses. In simple terms, the wagering requirements describe how much money you need to wager before your bonus cash can be withdrawn. The wagering requirement, also known as a playthrough rate, is listed as a number followed by a multiplication symbol, and typically spans between 20x and 50x. If we assume a wagering requirement of 50x and a bonus of £100, this means you need to wager £5,000 (£100 x 50 = £5,000) before your credits will turn in to cash and can be withdrawn. However, it’s not always that clear cut. Some casinos tie the wagering requirements to the bonus amount, others link it to the deposit amount, while others focus on both. It’s essential to read the Terms and Conditions to understand which is which, as it could double the total amount you need to wager.
Game and Cash Out Limits
With wagering requirements, not all games are treated equally. Most casinos count every £1 you bet on slots as £1 towards your total, but the amount offered for table games and live casino games may drop to 10% of this. There are limits on how much money you can stake on a single spin and how much you can win with bonus.
Pros and Cons of Welcome Bonuses
Now that we’ve covered the basics of welcome bonuses, showing you how they work and what you need to look for, it’s time to look at some of the pros and cons.
Pros of Welcome Bonuses
Big Money: Welcome bonuses are by far the biggest bonuses available on online casinos. They represent the possibility of big cash rewards. For the most part, no hidden terms are waiting to take that money away from you. Into the Black: If you’re playing with someone else’s money, your chances of securing a profit increases significantly. It goes without saying, and that’s why countless players are using these bonuses to get ahead, achieve a profit, and stay in the black. Great Variety: While free spins are limited to slot machines and golden chips are limited to table games, you can use your welcome bonus credits to play any game you want. In essence, welcome bonuses allow you to explore the online casino in full and to play as many games as you wish. No Catch: Once you have played through your welcome bonus, you are under no obligation to stick around. Whether you have lost all of your bonus money or withdrawn it as a profit, you can leave the casino and take your business elsewhere. Maybe to another casino with a new generous welcome offer!
Cons of Welcome Bonuses
Large Wagering Requirements: The wagering requirements can be very reasonable on casino welcome bonuses, but very high, and this can be off-putting for players. Deposit Required: To qualify for a welcome bonus, you need to sign up and make a qualifying deposit. You may also be required to submit verification documents like a valid driving license, a passport or ID to prove identity and legal gambling age. You can avoid long verification processes by using Trustly as a payment method. Trustly will allow you to play casinos without registration process. By using Trustly payment method, you will experience the fastest and secure deposits and withdrawals in the casino industry guaranteed! Check casinos that accept Trustly here.
Summary: The Power of Casino Welcome Bonuses
Online casinos like welcome bonuses and players adore them—it’s fair to assume that these bonuses won’t be going anywhere anytime soon. If you’re about to join a brand-new casino, be sure to check the welcome bonus. See what’s on offer, compare and contrast, and check the Terms and Conditions to ensure you maximise your payout! Use our list of best online casino welcome bonuses and find the right offer to start!