One popular tip for bulky retirement savings and early retirement is to start small. It does not always mean saving every dollar you get; sometimes, it means getting the best deals from any transaction. It can be in the form of store discounts or welcome bonuses from your favorite casino.
So what are these welcome bonuses, how do you become eligible for them, and why are they so popular?
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Welcome Bonuses: All You Need to Know
Welcome bonuses are exactly as they read. They are bonuses players are offered to welcome them when they choose to use a particular service, in this case, their preferred choice of online casino. The idea behind welcome bonuses is to encourage players to complete their sign-up process and be rewarded with bonuses to be immediately used in the betting environment.
There are two things to consider before accepting any bonus. First, wagering requirements are paramount to the casino playing experience. You will have to play through the bonus a certain number of times before you can withdraw cash as winnings. Also, you should always be wary of any time limits. Casino operators will always endeavor to be fair, although some only allow you a couple of days to activate the offer (source: https://www.basketballinsiders.com/online-casinos/fl/).
Simply put, these conditions must be met before you can withdraw your wins from the bonus the casino offers. Wagering requirements are usually denoted by a number and the multiplication sign, for example, 10x. This means that if you are given a welcome bonus of $100, you must have wagered ten times (10x) this amount, bringing the total to $1000, before you can withdraw your winnings.
A wagering requirement of $1000 does not mean you have to have $1000 in your balance and wager all at once. It means all your bets must sum up to the wagering or play-through amount before you can cash out. Another important detail is that the wagering requirement varies between casinos; sometimes it can be up to 50x.
There are different types of welcome bonuses offered by different casinos. These are some of them:
No deposit bonus
These bonuses do not require players to deposit their money; they are simply rewarded for registering on the site. No deposit bonuses are easiest to take advantage of when players choose games with low house edge and relatively attainable wagering requirements.
Deposit match bonus
This is the opposite of the no-deposit bonus. Players are only entitled to a bonus after they have deposited money in their online casino account. The casino, in turn, then provides them a certain percentage of their deposit as a bonus to be used on their website, often 100% but sometimes 200%.
This is perfect for slot players working with a small budget and looking for action with any slot options. Casinos provide such players free spins, allowing them to play many more times without paying extra. You can take advantage of this bonus if you want to try a new game risk-free to see how it works and to understand the rules.
Make your own bonus
This is one of the less common welcome bonus types. How it works is quite interesting; it is not a no-deposit bonus, as it often requires a minimum deposit. It is no deposit match bonus either because the casino does not match your bonus but gives you in-store credit to win your actual welcome bonus.
Mobile casino welcome bonus
The mobile casino welcome bonus is a marketing strategy by operators with mobile apps to incentivize its use. They offer one or more types of the above-listed welcome bonuses to players who download and register using their mobile app.
Why are they Important?
The different types of bonuses and the sheer number of operators implementing them show that they are an important part of most casino branding and marketing strategies. Also, the fact that they continue to be used in the casino industry indicates that it must be a favorite among players.
To the casino
To the casino, it offers them a golden opportunity to market their services while trying to outdo the competition by providing competitive bonuses. If the premise that players want welcome bonuses is true, then the casino with the biggest bonuses would attract the most players and turn the most profit.
To the player
To the player, it offers them more value. In a capitalist-oriented society, very rarely do consumers get anything back. So when a company offers even a sniff of a bonus, it easily gets everyone’s attention. Another reason welcome bonuses are important to players is that it allows them a trial run of the casino’s service. They get to inspect their game offerings, discover the ease with which they can navigate the platform, play the games, stake money, and withdraw their deposits.
Reading or writing about bonuses makes you want to get bonuses of your own. Bonuses are as close to free as you can get, so more players patronize casinos that offer them. It gives players the most value for their money and encourages players to use their services in hopes of more bonuses to come. All these and much more are why welcome bonuses are popular in the casino industry and, with the look of things, are here to stay.