Welcome bonuses: Everything there is need to know

Online gambling is one of the fastest-growing industries. Technological developments in mobile devices, reliable internet connectivity, and secure online payment platforms have made web-based casinos more popular than their brick-and-mortar counterparts. As with any growing industry, the choices facing new players can be overwhelming. With most (if not all) online casinos offering a welcome bonus, the nature of this bonus can be a good way to determine the best casino in the market.

What are welcome bonuses?

Online casinos have always offered bonuses to entice new users. In the beginning, it was to attract users who were used to the ‘traditional casino experience. As online gambling became mainstream, bonuses are a strategy to attract and retain players in an increasingly competitive environment. Welcome bonuses are offers that apply to new users. Growth can only be achieved with an increasing user base, which is why most casinos have some form of welcome bonus. Welcome bonuses can be broadly grouped into two categories: deposit bonuses and non-deposit bonuses.

Deposit bonuses

Deposit bonuses are a type of welcome bonus that new users can access when they deposit funds into their casino account. This is the most popular type of welcome bonus as online casinos want to incentivize new players to deposit funds. In most cases, a deposit bonus is applied as a percentage of the deposited amount. So, if a casino offers a 50% deposit bonus and one deposits $100, they will get an additional $50 bonus amount that will be credited to their account. Determining the best deposit bonus requires an analysis of the bonus terms. Key features include:

• The percentage offered This is the most noticeable welcome bonus characteristic. With all other factors remaining constant, players should go for a casino that offers a higher percentage bonus on their deposit. A 100% deposit bonus offers a higher bonus amount than a 50% bonus.
• The limit All deposit bonuses have an upper limit. For example, a casino can offer a 100% deposit bonus up to a limit of $200. This means that if players deposit more than $200, their bonus funds are capped at $200. High rollers tend to prefer higher ceilings when it comes to deposit bonus limits.
• The wagering requirement Every bonus has a wagering requirement, this lays out the terms regarding how many times one need to wager the bonus amount before they can withdraw any winnings. A lower wagering requirement is preferred as winnings can be accessed within a shorter period of time.
• No-Deposit Bonus With no-deposit bonuses, new players can access them without depositing any funds into their account. They are usually offered as free spins or free cash. With free spins, a new user gets to enjoy real-money slot games without wagering. Free cash allows the user to wager/bet. As with deposit bonuses, the best non-deposit bonuses can be determined based on their size and wagering terms.

Choosing the best welcome bonus

The best bonus for a player depends on their specific circumstances and online gambling style. If they want to give a casino a try before committing funds, then they should look out for non-deposit bonuses. More casual players may be less interested in deposit bonus limits as they don’t plan on depositing high figures.