Understanding Online Casino Bonuses and Their Benefits

One of the most important aspects of any internet-based casino is the bonuses it offers. Nearly every casino offers its players a welcome bonus which, as the name suggests, is to welcome them to the particular casino’s website. At greenbet, we set the record straight regarding the different types of bonuses, how they work, what benefits a player can draw from them and where to find the best UK casino bonuses.

Different Types of Bonuses

There are three main kinds of bonuses offered at casinos and these are bonus money, free spins and cashback:

Bonus Money

You can get bonus money from a first deposit bonus (for new players) or a reload bonus (a deposit bonus for existing players). It normally has a specific percentage, and it is also capped at a maximum value. A typical offer you might find would be something like:

‘100% Deposit Bonus up to £100!’

A 100% match bonus, like this, matches the entire bonus. In this instance, you could deposit any amount up to £100 and the casino will give you the same amount in bonus money. If you deposit £50, the casino would award you another £50. Anything you deposit over the maximum would not be matched 100%.

Here’s the snag about bonus money! As much as the online casino is doubling your deposited money, the bonus money the casino gives you is bonus cash and not free money. This means that the bonus cash is not withdrawable right away and, sometimes, it can only be used to play certain casino games. This bonus cash comes with wagering requirements which only once met, will be turned into real money available for you to withdraw.

When it comes to percentages and casino bonuses, it does not mean that the more generous a casino bonus is, the better. We always recommend that players aiming to snap up a casino bonus always read the terms and conditions that come with the bonus. Some bonuses have low wagering requirements, while the most generous bonuses, tend to have higher than normal wagering requirements. You can read more about wagering requirements further on in this guide.

With regard to reload bonuses, it is very common for online casinos to give this type of bonus to regular players. Although reload bonuses can be on the smaller side when compared to the first deposit bonus, it will still boost your casino account bankroll. Carry on reading to learn more about bonuses and VIP perks for regular players. 

Free Spins or Bonus Spins

Free Spins are perfect for slots players. These are normally given as part of welcome bonus packages, which often include other perks. For instance, a casino could offer new players a bonus like this:

‘100% match deposit bonus up to £50 and 100 free spins.’

This will give players 100 free spins on top of the deposit bonus. Players can usually use the free spins on one particular slot or a small selection of slots (rarely, on any slot!). It depends on the terms and conditions of the promotion.

Some casinos will also offer their players free spins upon registration without any deposit required. These are called no deposit spins. If you have to deposit money, these are called bonus spins. Unless the free spins are no wagering spins, any winnings you get will be essentially bonus money, which you can only use to play designated games as chosen by the casino. To convert your winnings to real money, you will need to complete the wagering requirements.

Cashback

A cashback casino bonus is a percentage of the money you have lost whilst playing at the online casino. Usually, they are in the region of 10%. On a 10% cashback bonus, you would reclaim 10% of your losses (during a period of time or at a specified casino game) as bonus cash or real cash!

Casino Bonuses from VIP, Loyalty and Reward Schemes

Loyalty or reward points are given away as part of VIP and loyalty schemes at many UK online casinos. The way they work is that you start accumulating points depending on either how much you’ve deposited or the amount you’ve played on casino games. It is quite rare for an online casino to offer loyalty points as part of a welcome package, but we have seen it happen before. Once you have gained enough loyalty points, you can proceed to exchange these for a number of rewards such as bonus money, free spins or free money.

How do online casino bonuses work?

We are sure you are wondering how bonuses work, how you can get one and if you have to make a deposit to get a bonus. Here are some pointers:

• To get a No Deposit Casino Bonus or Free Spins, all you have to do is sign up or enter a bonus code. Follow the instructions and you will get your bonus instantly!
• To get a Deposit Bonus or Bonus Spins, you will have to make the minimum deposit before you get your bonus.
• To get a Cashback bonus, you will have to play (sometimes on specified games) and lose to get a percentage of your losses back in bonus money or cash. Cashback is usually awarded 24 hours later.
• To get VIP or Loyalty Points, you will need to become a regular player to earn these perks. 
• Unless you get a ‘no wagering’ or ‘wager-free’ offer, before your bonus money or winnings are converted into real money, you will need to complete the wagering requirements.

Wagering Requirements

How do wagering requirements work you wonder? A wagering requirement refers to a multiplier that shows the number of times you need to play through the bonus amount before being eligible to withdraw any winnings you receive using money awarded through the bonus.

These are normally written as a multiple and a 30x wagering requirement is standard. All online casinos normally have certain requirements for their promotions. Also called terms and conditions, or just T&C, these bonus requirements let you know the bonus offer’s parameters.

For you to know how a given bonus works as well as how to earn the bonus money, it is critical that you understand the requirements.

Conclusion

Online casinos are constantly coming up with new ways to lure new players to their site. Be it no deposit bonuses, welcome packages encompassing both free spins and deposit bonuses or even bonus codes, there is always something in for the player.

Most importantly, before you take the plunge and share your information with a casino, make sure it’s a trusted site that is regulated by a licensing body. If the casino is listed on greenbet, you can rest assured that it’s been tried and trusted and deemed reliable and trustworthy.

Once you’ve done your checks, make sure to read the terms and conditions of the casino bonus you’re going for. Remember, that the higher the wagering requirements, the less likely you are to meet them and to turn your bonus cash into real money.

Take this new-found knowledge and apply it as you go in search of a new casino bonus.

Want more information about casino bonuses? Check out this Wikipedia article that explains everything about online casino bonuses together with all the different terms.