What’s the first thing you see when you visit an online casino? In most cases, it’s a big banner promising a fabulous bonus. Sometimes, you don’t even have to make a deposit: the casino will throw money at you right after you register an account. But each bonus has upsides and shortcomings that you should know before redeeming.
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Deposit Matches
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Deposit matches are the most common form of casino bonuses. Whenever you deposit at an online casino, the operator matches a percentage of your deposit in bonus funds. For example, a 100% match bonus means that if you deposit $100, you’ll get an extra $100 bonus from the casino.
Deposit matches are designed to convince you to deposit more. But the funds you receive as a bonus are not “free money” as they may seem.
The Pros and Cons of Deposit Matches
Pros:
- Extended bankroll: More funds means you can play with higher stakes.
- Extended playtime: More funds can also mean you get to play for longer with the same deposit
Cons:
- Wagering requirements: You must play through the bonus you get several times before you can cash out. Sometimes, these can be rather harsh.
- Time restrictions: You need to complete the wagering requirements in a set time – otherwise the bonus is forfeit
- Game restrictions: The wagering requirements can usually be completed on games with a high house edge.
Free Spins
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Free spins are among the top 5 casino bonus offers a casino can have. They are highly appreciated, especially by slot machine fans. What’s great about free spins is that they are a risk-free way to play. But they do have a few shortcomings as well.
The Pros and Cons of Free Spins
Pros:
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- Risk-free play: You can play the slots without risking your own money.
- No-deposit: Free spins often come with no deposit required.
Cons:
- Low value: Each free spin you get is usually worth the minimum bet per spin for the game
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- Game restrictions: Free spins can be used on a specific game or the games of a specific provider
- Time restrictions: Free spins usually come with restrictions on how long you have to play them
- Limited wins: Your winnings from the free spins are usually limited to a set amount
- Wagering requirements: You must play through multiples of your winnings before you can cash them out.
Cashbacks
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Cashbacks are like a consolation prize. Usually, a casino will offer you a certain percentage of the money you lost in a set time (the previous week or month) as a bonus. The conditions for cashbacks vary from one casino to another. Some come as bonus funds with wagering requirements, others as cash that can be withdrawn to your bank account.
The Pros and Cons of Cashback Bonuses
Pros:
- Money back: Even if you (invariably) lose, you’ll get some of your money back.
- Lenient conditions: Even when they come with wagering requirements, these are usually less harsh than those for deposit matches.
Cons:
- You lose: You have to lose money at the casino to get a cashback
- May encourage riskier play: Some players deliberately play high-risk games for a bigger cashback.
Before claiming any bonus at an online casino, ensure you know its upsides and downsides. On the one hand, you have extended playtime and risk-free gambling. On the other, you have wagering requirements and certain risks. Be aware of these and how they affect responsible gaming before diving in. Also, make sure to read the fine print to avoid any surprises.
