Table of Contents:
Available Types of Bonuses
Tips on Monetizing Your Bonus
Another Way of Monetizing Casino Bonuses
Is It Worth Taking the Bonus?
Final Thoughts
Available Types of Bonuses
Online casinos use various types of bonuses as incentives to attract new players and keep the registered ones engaged. This system works just like free drinks or treats in Vegas casinos. And yet, players will benefit from bonuses much more than from freebies that give nothing but a dizzy head.
The most common bonus types are deposit bonuses, no deposit bonuses, and free spins. All offers come with specific wagering requirements that may or may not help you benefit from the bonus.
Without further ado, let’s take a closer look at these bonus types and figure out how you can maximise your wins. First, however, be aware that there’s no such thing as an unlimited bonus. Instead, all casino bonuses have limits and wagering conditions that make them either worthwhile or not.
- Free Spins: Provided for certain slot machines, free spins allow players to spin the reels several times (up to 200 times) for free. After depleting the spins, you will receive the money you have won to your actual bankroll. Depending on the bonus policy of the casino house, you may either withdraw the bonus money or use them for playing again.
- No Deposit Bonus: These are the most anticipated bonus forms with which casinos welcome new players. They are intended exceptionally for novice gamblers and are given for no deposit at all.
- Deposit Bonus: To grab this bonus, a player must place a deposit. A deposit bonus usually increases the player's deposit by several times or a few per cent. Most of the time, the bonus is given to newcomers.
- Reload Bonus: Similar to match bonuses, reload bonuses are granted once a deposit is made. However, this time the reward is offered to existing players.
- Loyalty Bonus: Depending on the casino policy and the player’s rank in the Loyalty program, the house may grant them free spins, freerolls, or free credits. To become eligible for these awards, the player must have an impressive betting history.
Tips on Monetizing Your Bonus
Regardless of what online casino bonuses you are eligible for, there are certain points you should pay attention to. First, check the applicable terms and conditions before redeeming anything.
- The main point is to make sure the casino's wagering requirements are within sensible limits. If, for instance, the demanded playthrough is x50 or x60 the bonus, you’d better stay off. Instead, opt exceptionally for those free spins, which come with x20 or at least x30 bonus multiplier.
- Another crucial point to watch for is whether the bonus is withdrawable or not. In the first case, the money you win can be withdrawn, while non-withdrawable bonuses can only be used for further spinning. You should definitely aim at finding withdrawable bonuses if possible.
- What you should not neglect is the game variety. Most casinos include in the offer only those games that have a high house edge.
If you don’t examine the proposed slot close enough, you may end up spending your free spins or credits without any return whatsoever. Furthermore, a high variance slot can bring big but rare wins, while low variance slots promise small but frequent wins. - Make sure you meet the KYC law, otherwise, you won’t be able to withdraw your winnings even if you win money when gambling. Also, check out if the bonus is valid in your country and if you can use any offered payment method.
- Pay close attention to the maximum amount available for cashing out. Even if you have won a significant sum of money, the maximum bonus available for withdrawal may be too small. Typically, it is around $100.
- The expected value of the bonus is attached to a specific online slot. The EV determines if the bonus you earn with the deposit made is worth it or not. Unfortunately, no casino reveals any numbers.
To calculate the EV yourself, you should multiply the bonus amount or the wagering requirement by the house edge. For example, suppose a player wins $200 from the bonus while the wagering requirement rate is x20. Thus the player has to wager $4,000 in total.
If the casino’s house edge is 5%, you will get the following formula: ($200) - (($4,000) x 5%) = $0
This means the EV is 0, and it’s not worth redeeming the bonus or generally staying at that casino.
Another Way of Monetizing Casino Bonuses
All the tips you are now aware of will help you profit from online gambling. However, if you don’t feel like playing yourself but would like to get some passive income from gambling or sports betting, you can do this through affiliate marketing.
All that’s required is to promote bonus offers of online casinos to the right audience. Thanks to the tough ongoing competition between virtual casinos, gambling houses offer quite generous conditions for affiliates. Here, too, you should check the T&Cs and see how much money you can actually earn if you bring new members to the casino website.
Is It Worth Taking the Bonus?
Strange as it may seem, it’s not always expedient to claim a casino bonus. See yourself, you will block the money you invest by claiming an initial deposit bonus.
If the casino’s bonus claiming conditions don’t seem to be good, but the casino site is actually a worthwhile one, you’d better avoid activating the bonus and play as a regular gambler.
Forewarned is forearmed. This rule will always be relevant, and gambling is no exception. Thus, if you consider all the information about the bonus forms and our expert recommendations on what to concentrate on when partaking in promotions, you will be ready to gamble most beneficially for you.
Check out bonuses and promotions currently available on Leon to see that our casino is one of the best you can find. We love our players, and we know how much bonuses can positively affect the gameplay. So sign up today, and don’t miss out on the best gambling conditions out there.