Almost all online casino websites offer promotions or bonuses for players. Receiving bonus funds or free spins can have a positive impact on users, but it can also have a negative effect due to complex wagering requirements.
Let's examine and explore the most popular types of bonuses offered by online casinos and how they can affect players.
Welcome Bonus
After registering at a new online casino, users may gain access to a welcome bonus. This offer can be a no-deposit bonus, a first-deposit bonus, or a combination of promotions. Below are their descriptions.
No Deposit Bonus
One of the most popular options for a welcome offer is the no-deposit bonus. This offer includes free bonus funds that the user can use in almost any game. Typically, the no-deposit bonus is $100 or less. After registering at the casino, the bonus funds are added to the account.
It's also important to pay attention to the terms of this offer, such as the wagering requirements (we'll discuss this further below). It should be noted that withdrawing winnings usually requires making a deposit.
First Deposit Bonus
The first deposit bonus is a deal where the casino provides the user with bonus funds based on a percentage of the deposit amount. Typically, they offer 100% bonus funds up to a certain amount, such as up to $1000.
For example, if a player deposits $100 and receives 100% bonus funds, they will receive an additional $100 bonus to their total balance. This deal is great for new players who want to increase their bankroll. Such offers may have a high wagering requirement. Usually, players aim for a bonus with a wagering requirement of no more than 5x to quickly fulfill them.
Free Spins
Free spins are another option often associated with the first deposit bonus. A player may receive free spins with a specific value in a particular game. For example, a 100% deposit bonus and 100 free spins on a participating game. By making their first deposit, the user gets an additional 100 free spins.
The value of free spins is typically around 10 cents per spin. After using the free spins, the winnings remain with the players. Casinos usually limit the amount of winnings to $250 or less and require the bonus to be wagered a certain number of times before a player can withdraw them.
Bonuses for Existing Players
Online casinos offer special promotions for players, providing opportunities to earn bonus funds and motivating them to return and play new games. Below are examples of such bonuses:
Reload Bonus
This type of bonus is similar to the first deposit bonus. The percentage is usually lower, around 50% of the deposit. An example could be a 50% bonus up to $200. Players can deposit up to $200 and earn 50% bonus funds.
This offer may also have higher wagering requirements and stakes. The simpler the conditions, the better for users, and the faster they can fulfill and withdraw their funds.
Promotional Free Spins
Online casino platforms offer their users additional free spins during the holiday season or when new games are released. These are rare offers, but they can be found from time to time. Seasonal free spins work the same way as regular free spins. Players have a certain number of spins in a specific game. Just like with regular free spins, they need to wager a bet to withdraw the bonus funds.
Bet Bonuses
Another common option is bet bonuses. These offers provide a small amount of bonus funds depending on how much the player spends. A typical offer of this type could be: Place a $10 bet and receive $25 in bonuses.
Such bonuses with progressive elements help retain players and motivate them to continue placing bets on your platform.
Conditions
All bonuses have their own conditions for receiving and wagering, which may vary. Users often hesitate to use bonuses with high wagering requirements or other unfavorable conditions. Below are factors to consider.
Wagering Requirements
One of the most important factors is the wagering requirement. Users must wager their bonus before they can withdraw funds. Wagering requirements can range from 1x to 40x (or more).
For example, if a player uses a 100% first deposit bonus and deposits $50 into their account, the bonus is $50, and the wagering requirement is 1x. This means they need to place $50 in bets to fulfill the bonus. If the requirement is 30x, the user needs to place bets totaling $1500 before they can withdraw money.
Wagering Contribution Percentage
Terms like "wagering contribution" or "game contribution" indicate the percentage of bets in specific casino games that can fulfill the wagering requirements for bonus funds. Often, slot machines have a 100% contribution, meaning every $1 spin counts fully towards fulfilling wagering requirements.
Table games like blackjack and roulette usually have a lower contribution, around 25-50% (or 25-50 cents for every $1 bet).
There may also be game categories that do not participate in the promotion with 0% contribution.
Conclusion
Overall, business owners have a wide range of options to motivate players to make initial deposits and return to online casinos. It's essential to consider all bonus parameters before adding them to your platform. These include wagering requirements, wagering contribution percentages, promotional offers, and the list of games eligible for the bonus program. By applying this knowledge, you can easily attract new audiences and retain existing users on your platform.
The Inbet Games platform includes the ability to customize all types of bonuses to suit your business needs. Contact us for a quick presentation of all the features of our gaming solutions.
