Whether you are a newbie to the online casino world or you are a veteran you will know that almost every online casino attracts its players with unmissable bonuses. New customers in particular often benefit from a welcome bonus, this is normally done in a form of a percentage on your first deposit. Most, deposit match, bonuses range from 50% up to 500% in some cases.
The question is: should I opt for the casino that offers the highest bonus? We would highly suggest not!
Chances are that the 500% match bonus will have impossible bonus conditions that need to be met before a payout is made. Meaning, the majority of the time you will almost always lose your first deposit.
With this in mind, we think it is very important to be informed about how bonuses work and what to look out for when thinking about joining an online casino. This is exactly what you can find out on UltraGambler.
Types of Bonuses
Every online casino will have some type of bonus on offer, and often enough they are a win-win. The casino gets a new player, free advertising by word of mouth and you get a nice little bonus in return.
The types of bonuses available vary, but these are the most common:
- The New Deposit Bonus – new customers get a bonus of sorts just for registering, no initial deposit is needed.
- The Welcome Bonus – players will get a matched percentage bonus on their first deposit(s).
- The Reload Bonus – this is the same principle as the welcome bonus but is targeted towards existing customers. However, the percentage is often lower than the initial welcome bonus.
- The Loyalty Bonus – Based on a players gaming history you can benefit from all kinds of extras without having to do anything. Free spins, game credits or other goodies are often popular.
- The Cash Back – customers get a fixed percentage of your deposit or your losses back to your account.
In most cases, except for some cashback bonuses, you cannot transfer the bonus funds straight out and directly into your bank account. Casinos set this rule because they want you to try out their games and stay with them as long as possible.
This is where the bonus terms and conditions come into play. This means what terms need to be met before you are able to withdraw any winnings gained from playing with a bonus.
Extras on top of a Bonus
More often than not as well as a bonus, players will receive a number of free spins as an added extra. Free spins will allow you to spin a specific slot machine, chosen by the casino, a certain number of times without having to pay any money.
Once you have used up all of your spins, anything you have won is then usually added to your account. However, it is worth looking into the terms of how you can withdraw any winnings made from free spins. Wagering requirements differ for every casino, so make sure you look into them before making any decisions to sign up.
Most spins are usually only worth one cent (euros) but it is always worth playing them as you never know when a slot machine will payout especially if a lot of players are using their free spins at the same time. After all, even a small win is a win and gives you that little buzz!