Casinos like Vulkan Vegas casinoย will always have a bonus and rewards system. Time and again, there is proof that bonuses attract more players than no bonus at all.
What is a bonus, and how does it work? What are the types of bonuses, and why should players take them? Is there an advantage to it? We will answer all these questions in this article!
What Is a Bonus?
A bonus, in its simplest definition, is free gambling money. Casinos offer these rewards to attract players. It can come in the form of free spins or cash, and we will discuss this in more detail later.
As mentioned, it is free money, but it comes with terms and conditions. The player who avails of this free money must meet these requirements before they can withdraw their funds.
For example, there is a thing in bonuses called a wagering requirement. It is the amount of money that the player has to wager to be able to withdraw the bonus funds and their winnings.
The wagering requirement is always expressed as a multiplier. For example, 30x. It means that you, the player, must wager your bonus money 30 times its amount.
In this case, let us say that the casino gave you a $100 bonus. You must wager a total of $3,000 (30 x $100) before the casino allows you to withdraw your bonus winnings. How can you do this if you only receive $100? We will discuss this in more detail later.
The Most Common Types of Casino Bonuses
The casino industry has several bonus offers. No matter which online casino it is, there is always a reward. itโs just that today, as the industry stands, most casinos offer the same types of bonuses.
Match Bonus
A match bonus means that the casino will match your deposit. It is expressed in percentage values, like 100%, 200%, 150%, etc. If you deposited $100 and the match offer is 100%, the casino will give you an extra $100. Now, you have $200 in your gambling bankroll to play with.
Free Spins
The other most common reward you will find in casinos is the free spins, which you can use to wager in slot machines. Usually, the free spins can only be applied in specific slot machines.
How many freespins will you get? This number now depends on the casino offering the bonus.
Some offer 25, 50, 75, and some casinos even give away 150 FS.
Bonuses can either be free or with a deposit. A match bonus means you must deposit money before the casino gives you the reward. In this case, the casino usually also gives you free spins.
Some casinos provide no deposit match bonus. While this type of offer is rare, it does happen. A no-deposit match means that a player does not have to deposit money to avail of the free cash that the casino gives (or the free spins).
Benefits of a Bonus to a Casino Operator
Why do casinos offer these lucrative rewards? Will it not bankrupt their business? Well, casinos have planned these bonuses carefully. They will not go bankrupt for giving away bonuses.
For one, the bonuses are hard to withdraw because there are rules that many players tend to ignore. Second, casinos use them to attract players, but they have already calculated all the risks.
The only benefit of bonuses to casinos is to entice the player to sign up and play. If there is a deposit required, the player will likely lose all this money anyway โ keep in mind that most games are designed to give the house an edge.
How Can You Meet the Wagering Requirement?
Earlier, we discussed that the wagering requirement is $3,000 (in our example). How can you meet this if you only received $100 from the casino?
The only way is to keep winning. The goal here is to keep betting, and each bet will be deducted from your wagering requirements until that amount, $3,000, is zero.
You can only get to that level if you are lucky. You must keep on winning so you can maintain a healthy balance and then keep on betting. Once you have hit that zero mark, only then youโll be qualified to withdraw your winnings.
Do not forget to read the terms and conditions of the casino rewards. Some casinos will only allow you to keep or withdraw $25, even if you managed to turn $100 into, let us say, $150.
Bonuses attract players because they get more value for their money. Without it, a potential player may hesitate to join, knowing they can get a better deal somewhere else.
Whether the payer is new or a veteran, bonuses surely change the dynamics of how a person thinks. A match deposit bonus, for one, at least doubles what a player deposited.