Different Bonus Types – Sign-up Bonuses Explained
Even though there are many different bonus types, they all work on the same principle, welcome bonuses included. When players make the first deposit at an online casino, that casino nostalgia casino will award the players with a deposit bonus in form of bonus money, free spins, and other benefits. The majority of online casino bonuses will give you a percentage bonus based on your deposit amount. They look something like this example (we'll be coming back to this example during this lesson):
- First deposit bonus: 100% (up to $300) + 100 free spins
Now please pay attention because this part is important. For our example, you may be led to believe that if you deposit $300 you will get another $300 and end up with $600 (and 100 free spins) but that's just not the case.
The extra $300 you would get from this example is, in fact, bonus money or casino money. Outside of the casino, these bonus funds are useless. To turn it into real money, you'll have to play some casino games with it but we will get to that part later.
For now, keep this in mind: when you get online casino bonuses (like the welcome bonus) you'll only get casino bonus money that you can spend inside the online casino. Until you play with that bonus a little, it's worthless outside the online casino.
So now that you know the harsh truth about sign-up bonuses, let's actually take a look at some bonus offers, particularly those that online casinos offer to their new customers.
The most common form of welcome bonuses is the percentage bonus. This is the bonus that seemingly doubles the amount of your first deposit. Again, this is in form of bonus money, not real money. In our example, the percentage bonus can give you a 100% bonus with the max bonus being $300. This means that if you deposit, for example, $400, you'll still get $300.