What is a deposit bonus and how does it work?
A deposit bonus is a common occurrence for online casino players. Essentially, a deposit bonus is a reward offered to players by the casino in order to entice them to put in their own money into the experience. To do this, players have to make an account with the casino providing them with their details, which means that they might continue to play at the casino even after the bonus is over. For the most part, a deposit bonus comes in the form of a match deposit. This means that a player has to place money into their account, which the casino then will match. The maximum value of this deposit and the percentage of the deposit that is matched will vary greatly between casinos. Most often, a match deposit will offer a 100% match to the player with a maximum value of around 100.00. However, this can sometimes be as low as 50% and 50.00 as a maximum value or as high as 400% and a 1000.00 value. This will truly depend on each casino. Players should remember that the higher percentage doesn’t necessarily mean more free money. A casino that offers 100% on 300.00 will pay out 300.00 whereas a casino that pays 400% on 50.00 will only pay 200.00. It is therefore important to understand what all these different numbers mean in order for the player to make an informed decision when it comes to picking the best bonus.
On some occasions, the match deposit will be staggered over a number of deposits – often up to as many as four. This helps keep the players interested in the casino for a longer period of time and will also encourage them to continue placing their own money into the casino. Usually, these deposits bonuses will become less over each of the subsequent deposits with the first deposit being the most lucrative and the last having the lowest payout options. In some casinos, however, the reverse is also true as an incentive to push the player to reach for that fourth deposit.
Usually this type of deposit is rather lucrative, however, as it is the casino’s aim to bring in the player with a good deal. It is also their aim to stand out above the rest of the competition as there are numerous online casinos these days and it makes a vast difference if a casino can stand out from the crowd. There are a few different styles to how these deposit bonuses work, but mainly the player needs to open an account and transfer money for this bonus to work.
How to claim a deposit bonus
The first step for the player is to select an online casino with a bonus that satisfies them. Once this has been accomplished, the player must then create an account. To do this, a player must be over the age of eighteen and have a valid email, home address and a verifiable name. There is a small sign up form that must be filled out by the player during the sign-up process which will contain all these details. It is also during this time that the player will be required to link a bank account or another monetary transaction method to their account. This can be an e-wallet of some kind, a card such as Visa or MasterCard, or a wire transfer account. Whatever the method, this needs to be completed and verified in order for a player to begin transferring money into their casino account. Once the transaction method information has been completed, the player can then transfer money into their account.
For most match deposit bonuses, players will be given the option as to whether they wish to take it or not. This option is usually clearly displayed when they make their deposit, and is a simple click of a button to say yes or no to having the bonus added to the account. Many players do not wish to have this bonus added due to the wagering requirements that are usually attached, so this is why the casinos will give players the option. In some cases, the player may have to actually send or accept and email from the casino and click a link in order to claim the match deposit, but usually each casino will have clear instructions on how the player is to get this bonus simply because they want them to use it.
Wagering requirements explained
Wagering requirements come along with almost every single bonus. There are a few casinos that will offer bonuses without wagering requirements, but this is not the norm. Wagering requirements are simply the amount of money that a player needs to wager in order to be able to access any winnings amassed by the bonus. For the most part, the bonus itself will not be available for withdrawal – only the money that is made from it will. These requirements will vary greatly between casinos and can make a huge difference as to whether withdrawing any winnings is an achievable goal. For example, many will offer players the option of twenty times wagering which simply means that the amount of the bonus must be wagered that many times through. If the bonus was 10.00 and has to be wagered twenty times, then the player needs to wager 200.00 in order to meet the requirements. This may sound unachievable to many, but it is possible to do without spending any of one’s own money and can result in winnings being collected. Other casinos however, will offer much steeper requirements at forty or fifty times. Needless to say, these requirements are hard to match.
Players should also note that most wagering requirements do come with a time limit attached. This is usually around a month, but some casinos will offer a shorter time or longer time. It is important to pay attention to these deadlines, as failure to fulfil the wagering requirements within this time can result in the bonus and the winnings gained from it being removed from the players account after the deadline has passed. In addition, players that attempt to remove the bonus without completing the requirements can have the bonus removed as well.
If used properly and efficiently, deposit bonuses can be an excellent way to get a higher bankroll and experience more games within the casino at less cost to the player.