Online casino sites constantly run promotions to get more customers and retain existing customers. These promotions are commonly referred to as real money casino bonuses, and they can really be advantageous if you know how to use them. However, incorrectly selected bonuses will not bring any benefit and may force you to remain a member of a real money casino site you do not like. Below we explain everything you need to know about casino bonuses and how you can make money using them.
How Do Casino Bonuses Work?
Online casino bonuses have three triggers in general. The first is to complete the membership process. As we will explain in detail below, a certain bonus can be triggered just by becoming a member and allows you to gain some advantages without making a deposit. However, in general, we can say that most bonuses are dependent on the second trigger, the deposit: you start the bonus automatically by making a certain amount of deposit. The third trigger is bonus codes: You may also need to use a code when signing up or making a deposit.
Bonuses on betting sites trigger and work similarly, but unlike matched betting, a casino bonus can be used in different games and offers more variety. However, they are almost the same in terms of limitations: Betting bonuses have betting limits, while casino bonuses have a maximum cash limit.
List of the Best Casino Bonuses
We list below the most common bonuses you can find in online casinos, no matter how they get triggered. We recommend reading the terms and conditions of each bonus to learn three things: minimum deposit limit, wagering rate, and maximum bonus limit. We will explain these in more detail in the next section.
- No deposit bonus: As the name suggests, it is a bonus that does not require a deposit and can be claimed by completing the membership process. In return, the casino site credits your account with a cash bonus or free spins to use on many different games. The amount of these bonuses will be small, but they can be used immediately, and if you make a win, it is possible to transfer the payout to your cash balance by completing a wagering requirement.
- Welcome bonus: It is a one-time bonus intended only for new players. Your first deposit is matched by the casino at a certain rate. For example, if this rate is 100%, and if you deposit 100 EUR/USD, another 100 EUR/USD will be added to your account.
- Reload bonus: It is very similar to the welcome bonus because it allows you to get a bonus every time you deposit. However, the match rates will be lower (in the range of 25% – 50%). Still, it is a permanent bonus, and it pays more in the long run.
- Free spin bonus: It is a bonus that gives free spins to be used on slot machines. They are often offered as part of the no deposit, welcome, or reload bonuses. Sometimes it is possible to win hundreds of spins with this offer. If you make a profit, you will need to complete a wagering requirement.
- Cashback bonus: It ensures that a certain percentage of the money you lose is refunded to your account. The refund rate can sometimes be up to 25%. It is an advantageous bonus as it can almost always be used without completing a wagering requirement.
How to Pick the Perfect Casino Bonus?
We have listed the basic types of casino bonuses above. So, which one is best suited for making money? What should you pay attention to if you want to make money by using casino bonuses? Below, we list some tips:
- All casino bonuses except no deposit and cashback are triggered by making a certain amount of deposit. This is called the minimum deposit limit and usually ranges from 10 EUR to 20 EUR. So first find out how much you need to deposit to claim the bonus and make sure that this limit fits your budget.
- Free spin bonuses can usually only be used on predetermined slots. Make sure that these selected games are right for you. By playing free games online slots, you can try out each game beforehand, choosing only bonuses for slots you like.
- All bonuses have a maximum limit. For example, the welcome bonus may have a 100% match rate, but there is also an upper limit (e.g. 2,000 EUR); you cannot earn more than that. So pay attention to the maximum limit, not the match percentage.
- In some cases, there is no maximum limit but a maximum cashback limit. This means that there is no limit to the amount of money you can earn with the bonus, but you are only allowed to withdraw a certain amount. For example, even if you earn 10,000 EUR, you cannot withdraw more than 1,000 EUR. We recommend that you do not choose such bonuses.
- We recommend using cash bonuses in casino games with low house edge rates. In this regard, blackjack is the casino game with the lowest house edge percentage. Poker, roulette, and table games, in general, are the best choices for making a profit with cash bonuses.
Wagering Requirements: The “Catch” of Casino Bonuses
The wagering requirement is the most important thing that determines whether you can make money from a casino bonus, so we explain it under a separate heading. You get all of the bonuses mentioned above instantly, but you must wager a certain amount of money before you can use or withdraw them. This is called the wagering requirement and how much wagering you need depends on the rate determined by the casino. The formula you should use in general is the bonus amount multiplied by wagering rate, and here are some examples:
|WAGERING RATE OF A 100 EUR BONUS||HOW MUCH YOU NEED TO WAGER|
As can be seen from this table, if the wagering rate is high, it can take quite a long time to complete this requirement, even for a small bonus. Moreover, in most cases, the wagering requirement can only be complemented by bets on slot machines, you are not allowed to play different casino games (even if you play it does not contribute to the wagering requirement).
Therefore, first of all, you should choose bonuses with a low wagering rate. Ideally, this rate should be between 20x – 40x. Also, pay attention to what restrictions are placed on your account until the requirement is completed – in most cases, you have a maximum bet limit (usually 5 EUR), which means you have to play a lot of games in a short time.
Sometimes you are also not allowed to make a withdrawal until the wagering requirement is completed. Generally, the fewer restrictions you have on your account, the better, and recently wager-free bonuses have become increasingly common in online casinos. As can be guessed, it is best to choose bonuses that do not have wagering requirements. However, if you cannot use this option, we recommend choosing bonuses with less wagering rate and account restrictions.