Bonuses are usually offered by many online casinos as a way of attracting a new player making their first deposit who may return on subsequent play and deposit many more times. As the casino gives away money in return for a commitment, the player must wager a certain minimum amount before they are allowed to withdraw. The requirements are commonly set to be sufficiently high to ensure that the player cannot simply walk away with the casino’s money immediately after claiming the bonus. In fact, most of the time, the player would receive a negative expectation, exactly as if they had deposited.
There are various type of bonuses as following:
The Welcome bonus is the amount that players are given on their first deposit made in the casino. Some casino offers welcome bonus in packages to match the first two or three deposits of players. It can also be tied to specific games, or tied to players who make an initial deposit above the standard amount limit.
The Referral bonuses are given to both the Referee and the Referrer when the Referee registers an account at the casino and completes all the requirements, such as making a specific amount of deposit and wagering a certain times.
Cashback bonuses are offered as a percentage of all losses when the players lose at previous games. Typically, the cashback are usually paid back as credits for players to continue wager in the following games.
Non-cashable bonuses is a type of no deposit bonus, it also may be called “sticky” or “phantom” bonuses, in which, the bonus forms a part of the player’s balance for him to start wagering, but the bonus amount cannot be cashed out. When players place a withdrawal request after winning the games, a phantom bonus is deducted from the player’s balance.
Comp points is a small amount of cash given per wager which varies with game selection and can usually be exchanged for cash, prizes, or other comps. For example – three comp points for each $10 wagered on slots and one comp point for each $10 wagered on blackjack. The casino might also offer comps such as free tickets to online tournaments, free slots online, tickets to other special events, extra bonuses, souvenirs and pay back.
Bonus hunting is a kind of advantage gambling which turns a profit from casino, sportsbook and poker room bonus. For example, If a player is offered a $100 cashable bonus requiring $5000 in wagering on poker with a house edge of 0.5%, the expected loss is $25, the expected gain is $75 after claiming the $100 bonus.