Bonuses

Nobody really reads the terms and conditions when they enter a website. But with online casinos, you really have to read the small print, specifically the wagering requirement. This refers to the frequency by which you are allowed to play the bonus before you can pull out your winnings.

To illustrate: you have $40 in bonus and given 5x wagering requirement. What does that mean? You are allowed to spend $200 on games before you can withdraw whatever winnings you gained throughout the whole process.

You can't pull out in the middle of the wagering requirement. If you win a bet, the money goes to your pending balance up until you meet the requirement, in this case five times.

Huge Industry

Just like you read the terms and conditions before clicking "I Agree," you do need to do your diligence before entering a gambling site. After all, it's your money which is at stake. Like everything else, you need to know the fundamentals and the rules so you can master the game.

Different casinos offer different bonuses, perks and incentives. This is a multi-billion-dollar industry, with only a handful of players (relative to the population worldwide). While gambling has been practiced by human kind since time immemorial, the advent of online casinos means that gamblers can continue with their habit without the accompanying guilt.

According to data, the industry transaction in 2015 totaled $37.91 billion. By the year 2020, the revenues would have almost doubled to $60 billion.

This is why casinos had to dangle some form of reward to attract new customers.

Types of Casino Bonuses

1. Welcome bonus - In order to lure in new customers, casinos have come up with a welcome bonus. This is the perks you will enjoy for first-time sign-up. The most common type is to double the amount you deposit. For instance, if you deposit $100, you get a total starting fund of $200. You can also get free spins and other perks.

2. Match bonus - This is when the casino matches your deposit dollar-for-dollar. In some cases, however, casinos have upped the ante, by offering double, triple and even quintuple your deposit. For instance, they give you $30 free for each $10 deposit. Of course, there's a cap as to the total that the casino will give you.

3. Percentage bonus - The casinos will give you a certain percentage of your deposit. For instance, matching 50% of your $10 would net you about $15 in initial online play.

4. No deposit - How do you like to play right away even if you have no money upfront? This is just what the no deposit bonus does. Instead of you depositing money, they give you the money for your first bet. However, there's a catch. We already talked about wagering requirements, and casinos are trying to spread the risks by offering high wagering requirements. Also, there's no such thing as a free lunch. Eventually, you will have to deposit some money, because you can't withdraw your winnings unless you do so.

5. Cash back - Cash back allows you to play more even if you have used up all your deposit. The cash back will depend on the percentage the casino offers. For example, if you have cash back of 30% and you lost $100 during your sessions, you get extra $30 back to try your luck again.

6. High roller - Those who gamble big are often treated as VIPs even if they just joined. The casinos always recognize the high rollers. In fact, if you give a big deposit, you can expect to be contacted by the customer representative so you can choose from their menu of perks and bonuses. They don't really advertise the details of the perks for obvious reasons.

7. Payment method - If you course your deposit through the online partner of the casinos, you can get some freebies and perks. They might add a little extra to your deposit, such as 10% or 20%. Or you get free spins.

8. Refer a friend - Just like the name suggests, you can get a bonus if you successfully referred a friend to the online gambling site. Of course, the bonus will hinge upon your friend making his own deposit at the site.

9. Free Spins - You are given a certain number of free spins at the reel for online slots. This means you can spin until the limit without your deposit being touched. You can get free spins when you deposit into your account. There are also free spins with no deposit, which is self-explanatory.

10. Monthly reload - The more you reload, the more bonuses you will receive. This is for the casinos rewarding you for not closing your account and going to other sites.

11. Loyalty bonus - Loyalty is gauge many ways. High rollers will get the loyalty bonus faster than those who deposit the minimum amount. Nevertheless, length of stay should count for something, and casinos are quick to reward those who have been playing for a certain period of time.

Which Bonuses to Choose?

Most online casinos offer most of the bonuses and perks stated above. Others are a combination of three or four, but they have other incentives that could end up better even if there are only three fundamental bonuses.

The important thing is you do your research first. Ideally, you should be joining online community sites where they discuss not just bonuses, but also recommend strategies on how to maximize your deposit and how to spread your risks.

Choosing the type of bonus will really depend upon your playing style. If you don't think that you're in for the long term, then loyalty or monthly reload bonus won't matter to you so much. Free spins are one of the most popular bonuses around because they're fun and besides, who doesn't like free stuff?

Receive as much as $350 free as well as a 100% match bonus when you join mrgreen. This is one of UK's leading online casino brands. You get access to a wide collection of vetted websites, as well as tips, strategies and other information regarding online gambling.

There's money to be made in online casinos. But there's a huge difference between a compulsive gambler and an educated gambler. The first one relies on odds, or if luck will finally turn around for him. The second one soaks in all the necessary information in order not to wager with reckless abandon. You can't game the system, of course, but you can at least override your emotions to recognize when to cut your losses and fight again another day.