Published: 10.06.2020, 16:12
4 min read
As online casinos have become more prevalent in the modern gambling industry, many of them try to draw in customers by offering attractive welcome bonuses. There are many different kinds of welcome bonuses. Some of them actually give you great benefits, while others may be wrapped in pretty words and numbers but don’t actually offer you anything of value. Read this article to learn how to recognize if a welcome bonus is worthwhile.
Be sure to read reviews about an online casino before creating an account, no matter how great their welcome bonus appears. If a casino has a bonus that sounds advantageous, but it also has dismal reviews on a reputable review site, you are better off finding a more trustworthy casino.
Why Do Online Casinos Offer Welcome Bonuses
Casinos have to spend money to make money. Offering welcome bonuses draws in customers, which, in turn, maximizes the casino’s profits in the long run.
Common Types of Welcome Bonuses
Welcome bonuses can be categorized in three main ways: deposit/no-deposit, sticky/non-sticky, and phantom bonuses.
Deposit vs. No-Deposit Bonuses
With a deposit bonus (also known as a deposit match bonus), extra betting money will be added on top of your first deposit at the casino. For instance, let’s say that a casino is offering a 50% deposit bonus. If you deposit $100, then the casino will add an extra $50 to your deposit, bringing the total amount of betting funds in your account to $150.
On the other hand, no-deposit bonuses are awarded to your account simply for registering, regardless of whether you deposit any funds. These are not found as commonly as deposit bonuses, and their value is much smaller. However, this type of bonus is a great way to test out if you like an online casino without actually wagering any of your own money.
Sticky vs. Non-Sticky Bonuses
A sticky bonus sticks to your account, meaning that you cannot withdraw its value. Let’s say that a casino gives you a 50% deposit bonus, which adds that $50 to your deposit amount. When you withdraw funds, you won’t be able to touch that extra amount. The bonus stays in your account until you have used all of the funds. However, you can still withdraw money that you gain by wagering the sticky bonus.
Non-sticky bonuses, on the other hand, are able to be withdrawn in addition to the winnings that you make. You just have to be sure to fulfil all of the wagering requirements of your online casino.
Phantom Bonus
A phantom bonus is only used for wagering purposes. When you make a withdrawal, this type of bonus is automatically removed from your account. Make sure to take full advantage of a phantom bonus before it disappears.
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Pros and Cons of Welcome Bonuses
Pros
There are many pros to using welcome bonuses, provided that the casino is reputable. For instance, a welcome bonus is a fantastic way for you to stretch out your bankroll, and thus increase your playtime. The bonus can also act as a safety cushion, giving you more of a chance to come out on top. Perhaps that extra money is exactly what you needed to turn the tide of a losing streak.
Furthermore, many welcome bonuses come equipped with free spins, which means that you have an even greater chance of raking in the winnings.
Cons
A casino will often implement wagering requirements, which usually denotes the number of times that you must place wagers before you are eligible to request a withdrawal. If a casino offers an incredibly generous welcome bonus, it will typically be accompanied by strict wagering requirements. Be sure to read the casinos’ terms and conditions page to see what the requirements are. It would be so disappointing if you made money with the bonus cash but couldn’t actually withdraw it.
Another con is that welcome bonuses usually have an expiration date. If you don’t use up your bonus before the time runs out, then you may lose it.
Summary
Before making a decision about a casino welcome bonus, it is important that you read the casino’s T&C page, FAQ, and reviews for the casino on third-party websites. If the venue’s bonus has a very high wagering requirement, you may want to look elsewhere. If you find a casino that offers a welcome bonus that is no-deposit and non-sticky, snap that up immediately these are very rare!
Here at Bob Casino, we offer an attractive welcome package that offers matching bonuses and free spins for your first three deposits. With our bonuses, you can extend your bankroll and hit the reels longer. Find out how to grab a bonus from Bob Casino today in our quick tutorial:
