The online casino industry is undergoing an unprecedented boom. Of course, some of this is down to the impact of the pandemic, but it’s a trend that was already well underway. Customers new to the world of online gambling might find the different types of welcome bonuses confusing, but this short guide should help to make sense of everything.
Free spins
Probably the most popular type of bonus, free spins do exactly what they say on the tin. You’ll find them offered by most online casinos as a way to entice players onto the slot machines, where they’ll receive a set number of spins, completely free of charge. Naturally, the number varies considerably between casinos, but there’s a general scramble between establishments to offer the best deals since competition is high.
One caveat, though. Free spins are an attractive proposition, but they’ll sometimes come with wagering requirements. This means that you’ll have to wager your free spins winnings a number of times before you can withdraw them. Wagering requirements can sometimes be as low as x1 but much higher on some casinos. So, it’s important to check this small print before you start spinning.
Deposit bonus
Though not as common as free spins, players can compare the different deposit bonuses on offer using a casino comparison tool like freeextrachips.com. They sound more complicated than free spins but are, in practice, quite simple. You’ll deposit a certain amount of cash and then receive a top-up as per the size of the deposit bonus. For example, if you have a 50% offer and deposit $100, you’ll receive a $50 bonus from playing with – so $150 of funds.
In much the same way as free spins, this does come with limiters. Wagering restrictions might apply, sometimes to the bonus funds, sometimes to the whole deposit. This can seriously eat into your profits, so it pays to be selective over which casino you choose. For example, a 400% deposit bonus might sound lucrative, but you’re unlikely to come away with any profit if the bonus needs to be wagered x60.
Free chips
Although this applies mostly to online poker casinos (you might see it for games like Blackjack, too), it’s nonetheless a common type of bonus. Online poker is extremely popular, and advances in technology mean that casinos have been able to replicate much of the tension associated with playing face to face. In addition, free chips encourage new players to take to the table without making a deposit.
You’ll usually be given a set of chips upon signup, which you can then play through. Most casinos will limit how long the chips are valid, so always double-check and delay if their shelf life is short. While most free chips will have some kind of wagering requirement, it’s often significantly less than free spins or deposit bonuses. Some casinos might even stipulate that the chips only need to be wagered once before you can cash them out and convert them into real money.