When entering into the world of online casinos, you’ll quickly start to notice just how many sign-up bonuses are, and they tend to seem quite lucrative as well.
They could easily add up to thousands of dollars, depending on the type of sign-up bonus and what the fulfillment requirements are accomplished.
While this seems great – let’s take a closer look and review the potential downsides of these bonuses along with the various types of offers out there.
Looking at what types of Casino Bonuses are out there
Let’s look below at the main casino bonus types you will see.
Welcome or sign up bonus
These are meant to give you a huge promotion for signing up for the online casino. It’s a way to get players to come in and start placing bets and thus tends to also be the highest bonus out there. They tend to follow how much your initial deposit will be but have been known to allow you to stagger your deposits for prizes.
An example is giving you a 1:1 match bonus of $100, meaning they will match any amount you deposit up to $100.
Those that will stagger it will promote a larger welcoming bonus – say $1,000. Yet it’ll be broken down between deposits, such as the first one being 1:1 up to $100, with the second deposit being 1:1 up to $400, and the last deposit being maybe 50% to 75% matching bonus up to $500.
Top up Bonus
Sometimes also referred to as a reload type of bonus, they come sporadically after your sign-up deposit bonuses. They won’t be nearly as lucrative as a welcome bonus, but they still can be quite generous. The match will rarely be 1:1 and will be a much smaller amount, maybe up to a few hundred dollars.
While welcome bonuses are nice, they’re only one-time offers. That said, you want extra chances to earn money once the welcome deal is no longer available.
A Bonus just for signing up
No deposits are needed, just a complete registration which can come with a few free spins or even some funds available just to place some initial bets. And yes, if you do win from this bonus, you will eventually be able to cash out and withdraw the winnings.
Do check the free slot spins because they may be restricted to a certain slot game or a select few.
Getting a bonus even if you lose
This is a cash-back bonus, and even if you lose some of your bets, the amount placed on those bets will be partially given back as a percentage of the total. They can also be quite high such as 20% of your bet.
Looking at the downsides when it comes to bonuses offered by online casinos.
Let’s examine where there could be issues with these bonuses.
Complex or vague terms and conditions
You will typically need to adhere to these specific terms and conditions for the bonuses, and doing one wrong thing or missing a step can void the whole reward. Sometimes, the terms and conditions are written unclearly, and it may not be straightforward to understand their bonus policy. It could be a red flag to swerve them altogether.
Terms and Conditions that seem unfair
This is where the terms and conditions are crystal clear but seem to work against you. These can be restricted where you use the bonuses you’ve received (such as not being able to use them on games that tend to payout higher). There also may be a requirement to play a lot which can be known as rollover, and that could mean placing so many bets the bonus deal doesn’t lead to any net gains.
Beware Negative Expectation
This leads us to what’s referred to as negative expectation, where most of these bonuses are tied up to high rollover and wagering on matches that tend to be harder to win. That almost guarantees that the casino tends to recoup most of that bonus money based on this and their overall terms and conditions. In fact, negative expectations could lead you to net a loss with the bonus terms.
Deposited funds may need to be used first
This means you won’t receive the bonus funds until you actually run out of the initial deposit you made, meaning you’ve lost your wagers completely. That makes the bonuses look like a type of insurance where it’s available once you go bust on your deposit.
Some gaming sites don’t give you bonuses right away. Instead, they require you to burn through your deposit money first.
So – are they worth it?
It all is relative on the specific terms and conditions and taking into consideration the negative expectations into it. It could be murky terms and conditions, or unfavorable ones, forcing you to play (and potentially lose) a lot.
Yet that doesn’t mean all bonuses are bad, and it’s always the best plan to check out sites that review casinos and their sign-on bonuses, as they tend to do the due diligence to see if it’s a good deal or not.
Even with these reviews, do keep in mind that anything can happen, so remember, it’s just a bonus when all is said and done.
In the end
There are a range of options regarding lucrative online casino bonuses where you’ll be able to net out a profit. Whether you sign up for mobile casinos or through the web doesn’t matter. They are meant to provide a larger initial amount to wager with to help extend the enjoyment factor that comes with online casinos.
Do take a moment with each bonus to review, when possible, what the requirements are, and simply do not just sign up for every possibility that comes your way. Without taking a closer look at the fulfillment requirements or the terms and conditions, you may end up wasting your time or even some of your funds.
Dislcaimer: ResponsibleGaming.co is an information blog and a search platform, not a casino. ResponsibleGaming.co only works with advertiser partners and networks that comply with laws and regulations. Social casinos are intended for use by those 18 or older and is for amusement purposes only. Practice or success at social casino gaming does not imply future success at real money gambling and gaming.
