Online casinos are expanding rapidly, with industry analysts predicting explosive growth to continue trending for the rest of the decade. iGaming has well and truly arrived, with investment in the industry at an all-time high, together with new operators entering the market, seemingly on a daily basis.
The heavy competition means that casinos are doing everything they can to become an attractive proposition for players, including the introduction of never-before-seen bonuses and promotions.
It’s truly a player’s market, with companies fighting for their custom. Of course, most people don’t treat bonuses the way they should. They’re wasted, used without a strategy, and never wisely. In this guide, however, we’ll show you the right way of approaching the casino bonus.
Know Your Bonuses
The first step in your induction is to know the type of bonuses available on the market today. There are various kinds, but their distinctions are subtle. Overall, they fall into one of the following categories:
Deposit Match Bonus
This is one of the most common promotions you will find on the market today. It works like this: you deposit a certain amount of money, and the casino will match it to a certain percentage. This will often be a multiple of your original deposit.
For example, let’s say you deposit $100 on a 5x deposit match. In total, you will have $600 to bet with. Of course, all that money is not necessarily ‘yours’. Depending on the wagering requirement (WR), you will have to cycle through that $600 before being able to withdraw.
This one is pretty easy to understand, it does exactly what it says on the tin. The casino will give you a certain amount of free spins depending on how much you deposit.
Casinos will do their best to tier their free spins to make it more attractive to deposit more money. This is fine for you as the player, as long as you don’t gamble through that deposit once you’ve cycled through the free spins.
Again, another relatively obvious one. The online casino will give you a certain percentage of your losses back, with no strings attached. For instance, if you have a 10% cashback, a loss of $100 would result in $10 being returned to the player.
No Deposit Bonus
This is the one people write home about. You don’t need to deposit any of your own money; the casino gives you the chance to gamble, with any winnings kept for the player.
House Edge Matters
Not every traditional casino game will give you the same house edge, that’s a given. Try and play the games that give you the best odds, whether at a (virtual) table or slot.
Slots in particular need to be checked for the RTP figure. This is how much of what is gambled is returned to players on average. Of course, the higher this figure, the better.
When gambling with bonus money and you’re looking to maximise the chances of turning bonus cash into real money, playing higher RTP games is always the best option.
Look for Bonus Codes
Just like when you do your shopping online, look for bonus codes. Don’t just accept the first bonus an online casino is offering you. If you push just that little bit harder, you can likely get a better deal.
For example, code websites will often list bonuses that will increase your deposit by a generous percentage. Regular users will get, say, a 200% deposit match, whereas the code hunters will get a healthy %300.
Use a Strategy
Every professional gambler has a strategy. Every. Single. One. Even the biggest names in gambling rely on tried and tested methods, instead of simply relying on ‘luck’.
When you gamble using casino bonuses, use a strategy as well. Primarily, learn how to manage your bankroll. Money management is perhaps the single best investment you can make as a gambler, even if you don’t want to be a professional.
Keep Your Wits About You
It’s already been mentioned, but it’s worth reiterating the point. Our final piece of advice is this: no matter how much you know about bonuses, or how perfect your gameplay is, nothing matters without execution.
Always use your brain, never your emotions. Treat bonuses as you would your real hard-earned cash, otherwise, you’ll probably end up losing money. Remember, there’s a reason these bonuses can continue existing despite being so generous.
Most people don’t use them wisely, often frittering them away. Instead, treat your bonus like a good friend, with appreciation and care.