Online casino is a growing industry anywhere across the globe. In 2019, a study detailed that the online gambling market had reached USD 55 Billion. Furthermore, the industry is expected to grow further at 16.5% CAGR between 2020 and 2026. So, how this online casino site attract a number of players around the world.
There are several perks you can get in playing at online casinos – from the number of games to choose from, to the thrill and convenience of playing at the comfort of your home. But what makes online casinos really attractive to a number of gamblers are the bonuses and promotions, specifically the welcome offer.
The welcome offer also knowns as a signup bonus allow the players to instantly boost their first deposit to a certain percentage, allowing the players to stay in the game much longer. Welcome bonuses can vary greatly from one casino to another. There are also casino sites that offer a much greater value of signup bonus than other operators. To make sure you can make the most of it, here are everything to know about online casino’s welcome bonus.
What are signup bonuses anyway?
As the name suggests signup bonus or more commonly known as a welcome bonus is the reward that new players can receive after creating a casino account. Typically, this is a match bonus where players make a deposit and receive a percentage of their deposit back as free money. Most of the time, online casino operators offer a 100% bonus as a welcome offer. However, there is also a more generous casino site like Happyluke that offers a 200% welcome bonus. This means that when you deposit USD 100 you will receive free USD 200 on top of your deposit. Here, you’ll end up with USD 300 in total to play with.
Some casinos also offer free spin as a welcome offer. This is usually given in numbers usually ranges from 10 to 50 and usable on either all casino slot or certain game titles.
In rare cases, casinos also offer no deposit bonus or free bets as a welcome offer. These are some of the most sought-after bonuses as this doesn’t require the players to deposit any amount to receive the bonus. This lets the player play without risk of losing money at all.
How to claim a welcome bonus?
Sign-up bonuses are straightforward promotions. To be eligible in receiving the amount, players just need to create an account to the operator’s platform. On many casino sites, you need to verify your profile by providing a working email or phone number.
In most cases, the welcome bonus will be credited to the player’s account as soon as they’ve made their first successful deposit of real money. Some casinos, however, will require the player to opt into the promotion, usually by ticking a certain box. There are also others that require players to enter a promo code to qualify. Usually, the bonus code is listed at the terms and conditions alongside the details for the welcome offer.
Withdrawing your winnings
Before you claim any type of bonus online, we recommend reading the bonus’ terms and conditions for you to know how you can use the bonus. When you violate any of these rules, the casino has the right to cancel any of your bonuses as well as your winnings.
One thing you should pay attention to is the wagering requirements. Almost all bonuses online have wagering requirements. This tells how many times you should use the bonus and/or the deposit amount before you are allowed to withdraw.
To compute the total wagering requirement, the player only needs to add the bonus and the deposit amount, then multiply the sum to the multiplier that listed as wagering requirements. Let’s have an example.
For instance, you deposited USD 100 to claim a 100% bonus with a wagering requirement of 25x. Here you’ll have
Deposit amount = USD 100
100% Welcome Bonus = 100% x USD 100 = 100
Total Bankroll = USD 100 + USD 100 = USD 200
Turnover requirements = USD 200 x 25 = USD 5,000
In the example above, it shows that player needs to reach USD 5,000 as a bet before he or she is allowed to make a withdrawal request.