As the name implies, a deposit reward is given to gamblers when they deposit into their betting account. These bonuses are often a certain percentage of the amount deposited; sometimes, these bonuses are in the form of free spins and cash back. These rewards vary from casino to casino. Some casinos offer a higher percentage with a higher wagering requirement, whereas some offer less.
Mainly, there are two types of these bonuses, namely welcome reward and reload bonus. When they make their first 3 or 4 deposits, the welcome bonuses are given to new players. The reload bonus is for existing customers when they top up or make additional deposits to their accounts.
These bonuses offer you a chance to boost your bankroll and give you a chance to win big. When offered a bonus, it is smart to take advantage of it.
What is a Deposit Bonus?
When you make a deposit and get a small gift or token, that is a deposit reward. Most online casinos offer you a certain percentage of your deposit when you register newly. You can also be rewarded this bonus subsequently as you refund your account.
In a 100% casino bonus, you will get x2 your deposit. This means if you deposit C$100, you get a whopping reward of C$100 and in to. This bonus does not last forever, though; you are expected to use it within a certain period. This can be within weeks or a month.
You cannot withdraw the bonus immediately as well. You have to reach a certain requirement first. This implies that you have to gamble the bonus until it turns over to a specific amount before you can withdraw it.
The deposit reward is not always in the form of cash; it can also be free spins. These free spins are expected to be used within a specified period. You can use them to play slots, which will multiply the money and give you a decent turnover.
Match Deposit Bonus
Most online casinos offer matched deposit bonuses. This type of bonus is very popular. This reward type is given mostly as part of the welcome package. The bonus matches whatever you deposit; this goes on for a couple of deposits. For example, if a player deposits C$50 into their betting account, the casino match bonus would be C$50, thus giving you a total of C$100 to play with.
This is a nice way to double or generally boost your account. You have more money to play with; it also improves your winning margin since you get to bet more. It is essential to go through the terms and conditions. Also, ensure that you understand the casino’s wagering requirements before venturing into betting with the bonus.
In most games of chance, it is natural to win some and also very natural to lose some. When you win, you gain more money, but when you lose, your money is gone until you make it back again. Wouldn’t it be wonderful if at least you could gain back part of the money you lost? Well, that’s where cashback bonuses come into play.
Cashback bonuses secure you from totally losing all your money when a bet is lost. The Cashback bonus offers you a certain percentage of the money you wagered. This allows you to bet again so that you can reclaim your loss.
These bonuses are somewhat rare, depending on the casino. Some casinos drop them daily, while others drop them weekly or monthly.
The returned money cannot be directly withdrawn; you will be expected to play through the wagering requirements first to multiply the money. So, it is wise to read the terms and conditions and get familiar with the wagering requirements.
Reload Bonuses are almost the same as sign-up bonuses. What separates them is that sign-up bonuses are more generous and are rewarded when you sign up. However, it is rewarded when you deposit into an existing account. The reload bonus is mostly 20% to 40% of the deposit made on a particular day of the week.
For example, if you have a reload reward of 20% and make a deposit of C$100, you get a C$20 bonus to bet with.
The reload bonus is not for new players; you have to have an existing account used to make deposits. This bonus is sometimes rewarded as part of the loyalty program and mostly has a lower wagering requirement.
Welcoming Bonus Package
This is the most popular deposit bonus; the welcome bonus package often combines free spins, cashback, free credit, free play, deposit bonus, reload bonus and so on. The combination of the bonuses differs from casino to casino, though.
This welcome package is given to new players who register newly. If you have an existing account, chances are you have already used your welcome reward package, as most casinos offer.
To sum it up
The deposit bonus is a good opportunity to boost your bankroll. It allows you to try out new games and explore the casino’s features. There are various rewards types, including free spins, cashback, reload bonuses and so on. These bonuses have a wagering requirement attached to them. These wagering requirements specify the duration for which the bonus will last and how much turnover one is expected to make before withdrawing. These bonuses are exquisite; you can turn a small amount into a sizeable win if you gamble right.