Online Casinos love appreciating their players whenever they make a deposit on their accounts. Whenever a player makes a deposit of any size, the casino rewards them by offering a percentage of the amount of money deposited that is added on top. If a player deposits £100, the casino rewards them with a 10% extra and they end up having £110 to play with at the end.
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As seen above, different online casino sites come with diverse wagering requirements. This means that the largest bonus is not necessarily the best as it will have wagering requirements that are very stringent connected to it. This will make it difficult for a player who is not a high stake or extremely frequent to fulfill the wagering requirements of the large casino bonuses. This is an important lesson that players should learn before being attracted to the huge online casino bonuses offered by some sites.
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All guides touching on online casino bonuses advise players always to read the fine prints that accompany any offers to find out the wagering requirements that come attached to them. Players should conduct their due diligence and deep research to find out whether a particular casino bonus has attainable or unattainable wagering requirements. This goes a long way in ensuring that players don’t get disappointed after registering in certain sites. It also assists players in avoiding the worst-case scenario where players spend their valuable money and time trying to clear their bonuses but end up not claiming them.
What is a deposit bonus?
A deposit bonus is a bonus that you earn upon making a deposit to your account. It can be either a fixed amount or a percentage of the amount you deposited. Most common percentage deposit bonuses in casinos range from 50% to 200% of the amount deposited. Deposit incentives that are awarded as a percentage of the amount deposited usually have a maximum limit.
In almost all online casinos, you are awarded a first time deposit bonus upon making your first deposit on your account. However, some generous casinos also offer reload bonuses for subsequent deposits.
How do I receive a deposit bonus?
Immediately you make your first deposit, your deposit balance will be loaded on your account. The same case applies for other deposits that attract a bonus. Occasionally, casinos may run promotions that involve deposit bonuses. You can learn of such promotions either through the casino’s newsletter or by visiting the “news” or “promotions” page. In some instances, you may be required to claim a deposit bonus by contacting a customer representative but most of the time, you can easily accept or decline a bonus when making a deposit.
How does a deposit bonus work?
Obviously, to receive a deposit bonus, you must first make a deposit above or at the minimum deposit limit. A fixed deposit amount bonus offers a specific amount of bonus cash for a specified amount deposited. For instance, a casino may offer £10 bonus for deposits above £20. On the other hand, it’s a common practice for online casinos to offer variable/percentage-based bonuses whose size goes hand in hand with the amount deposited. For instance, if you deposit £100 and you are awarded 50% deposit bonus, it means that you will have an extra £50 in bonus cash.
For instance, if you receive a 100 % deposit bonus on your £100 deposit at a wagering requirement of 30X, it means that you will need to place 30X100=£3000 to activate your bonus cash. Usually bonuses come with a wagering requirement. For every deposit bonus, there is the stipulated terms and conditions that specify conditions to activate the bonus as well as its wagering requirements. A wagering requirement denotes the amount of money you need to wager in order to be able to withdraw the deposit bonus.
Advantages of a deposit bonus
Most casinos offer deposit bonuses as a way of attracting new players and also to keep already existing players attracted to the casino’s offerings. The advantage of a deposit bonus is that it increases your bankroll offering you more chances of winning with minimal financial risk. Besides, in most casinos, the more you deposit, the more loyalty points you earn and your player ranking at the online casino also improves.
Disadvantages of a deposit bonus
To enjoy a deposit bonus, you are required to make a deposit beyond a certain threshold. Most bonuses require you to meet wagering requirements else you won’t be able to make a withdrawal. Compared to other types of bonuses, the wagering requirement for deposit bonuses is higher and hence more challenging to meet. Deposit bonuses have a time limit within which you should activate them otherwise they expire.
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