Bonuses are one of the best parts about gambling at online casinos, but they’re not always the deal they appear to be at first glance. As an expert in all things casinos, and having spent nearly ten years reviewing the industry’s cream of the crop, I know how to spot a deal that’s too good to be true. I’ll be covering the best bonuses to make the most of your money, and what to look out for in a fair offer. Let’s get cracking!
Top Tip—Check the Bonus Requirements
Before we dig into all the tasty bonuses on offer at online casinos, let’s talk about wagering requirements. Pretty much all bonuses come with strings attached. There are a few different requirements that are common to see. I’ll cover them in detail below.
– Minimum Requirements: this is the minimum amount that a player has to deposit in order to receive the bonus.
– Wagering Requirements: these refer to the number of times a player has to play through before they withdraw any winnings from a bonus. For example, wagering requirements of 40x mean I’d have to play a slot 40 times before I could claim any winnings from the bonus.
– Payment Methods: sometimes, bonuses aren’t available for all payment methods. It’s not uncommon to see that payments made by cryptocurrency are excluded from bonuses.
What’s Fair?
When I’m reading the fine print of a bonus, I look for one with a low minimum requirement. It’s important to remain in control of your spending, rather than being enticed to spend money to receive a bonus.
In terms of wagering requirements, anything around 20x to 60x is what I would class as fair. Unfortunately, in my experience, I’ve seen some incredibly high requirements, with some even hitting triple figures. So, it’s essential that you check them before committing to a bonus!
Now we know what we’re dealing with, let’s take a look at some of the kinds of bonuses that you might encounter.
Welcome Bonus
It’s only right to start with the first bonus you’re likely to see at an online casino. Welcome bonuses are often offered as a way to entice players to sign up to a casino. It’s common for them to offer free spins or match deposits up to 300%. They’re a good way to get started at a new casino, giving you a taste of the action without having to risk lots of your own money.
There are two different types of welcome bonuses that you should be aware of. The first is the most popular with players, the cashable bonus. The clue’s in the name for these. Cashable bonuses let players cash out their casino bonus and any winnings as soon as they meet the requirements.
Non-cashable bonuses are becoming more and more common at casinos. Rather than any bonus counting as winnings, it only exists as funds within the casino. For example, if I receive a match bonus of £100, it would only be available to be used on the casino’s games.
What Should You Watch Out For?
There are usually strings attached to the welcome bonus at a casino, so make sure to read the terms and conditions carefully. In terms of free spins, there’s often a minimum deposit amount to be eligible. If you deposit under this set amount, you won’t receive the bonus.
It’s also common for payments made using cryptocurrency or e-wallets to be ineligible for welcome bonuses. Another term I often see is an expiry date. This means that you may only have five days after joining to use the welcome bonus, for example.
When it comes to cashable bonuses, you should pay especially close attention to the wagering requirements. Of course, casinos don’t just hand out free money. So, it’s common to see some pretty steep wagering requirements. I’ve seen anywhere up to 250x. That would mean I’d have to play through any bonus I received a whopping 250x before I could withdraw funds!
No and Low Deposit Bonuses
No and low deposit bonuses are great options for players on a tight budget. Whereas low deposit bonuses require players to deposit around £2 to £25, no deposit bonuses don’t require a deposit at all. They’re a great way to get started at a casino, giving players the opportunity to try games without having to invest much, or any, of their money.
These deposits often come in the form of bonus cash, which appears as funds in your account. Bonus cash is intended to get players to try new games or entice them to give a casino a try.
Free spins are another common form of no and low deposit bonuses to take. They give players the opportunity to spin at some of their favourite slots, without having to use their own money. An example of this would be a low deposit bonus where I deposit £5 and receive 50 free spins.
What Terms and Conditions Should You be Aware of?
While these bonuses sound like a great deal, and they often are, it’s still important to check the requirements. No and low deposit bonuses are often used to encourage players to try a new game at a casino. That’s why you’ll often see the bonus attached to specific games. This means that players can only spend their bonus cash or use their free spins at these set games.
Again, you should also make sure to carefully read over the wagering requirements. It’s especially important to check these when it comes to bonus cash. As it’s intended to get players to try new games, bonus cash is often subject to higher wagering requirements.
Reload Bonuses
Think of reload bonuses as the cherry on top of your ice cream sundae. When you’re already using one bonus, especially when funds are dwindling, reload bonuses sweep in to give you another boost. They’re activated when a player makes a further deposit.
The most common types of reload bonuses are free spins. If I’m running low on an existing free spins offer, a reload bonus will top me up. You usually see free spins reload bonuses attached to a certain game as a way to encourage players to give it a go.
What do You Need to Know About Reload Bonuses?
It can be incredibly enticing to see a reload bonus appear just when your funds need reviving. However, it’s still vital that you read the terms and conditions to verify the bonus is as good as it seems.
When it comes to reload bonuses, players have to meet the terms of both existing promotions before making any withdrawals. So, if the original offer had wagering requirements of 40x and the next has a requirement of 20x, the overall requirement will be 60x.
Cashback Bonuses
The final bonus we’ll take a look at is cashback bonuses. This type of bonus allows players to get back a percentage of their losses over a certain period or on a specific game. They’re designed to reward loyal playing while giving players’ finances a boost.
It’s important to note that you don’t get this money transferred back into your bank account. Instead, it appears as funds on your casino account. It can also be in the form of the equivalent value of free spins. Cashback bonuses are usually given as a percentage, for example, 20% of your losses.
In most cases, only playing certain games will go towards building your cashback. I’ve seen a few cases where it applies to whole libraries, but it is only available for a very short period. It’s most common you’ll see a cashback bonus over a set period, like a week or month, and for certain games.
Are There Terms and Conditions for Cashback Bonuses?
Cashback bonuses often face higher wagering requirements than other bonus types. That’s because the returned funds are for playing, rather than just being a cash reward. You’ll have to meet these playthrough requirements before you’re able to withdraw any winnings made using a cashback bonus.
Another common term you’ll see is a loss limit. These are a certain amount players have to lose over a set period of time to be eligible. For example, I might have to lose £10 in a week before I’m eligible for a cashback bonus.
What Bonuses Should You Look For?
In this article, I’ve covered just some of the bonuses you’ll encounter at online casinos. While a bonus may sound generous at first, I recommend you always read the terms and conditions. Look out for fair wagering requirements, usually anywhere around 20x–60x. Make sure you know any minimum deposit amounts and whether your payment method is eligible for the bonus.
When it comes to the kinds of bonuses, they all have their different pros and cons. It really depends on what you’re looking for. I tend to look for welcome bonuses when I’m first joining a casino, and I use no deposit bonuses to help me control my spending.
I’ll leave you with the most important message of this article. Regardless of what type of bonus you’re looking for, read the terms and conditions carefully to make sure the deal is as good as it seems!
