Competition and Online Casino Bonuses
All casino games are designed to give the house a slight edge – if the casino didn’t get more money out than it put in, it wouldn’t be a profitable business. But there are ways to lower the house edge and increase your chances. Many online casinos offer welcome bonuses and other promotions to new players, to attract people to sign up. If you use these bonuses wisely, you can shift the house edge in your favour.
How Do They Work?
If you are new to online gambling, you might not understand how bonuses work. How can the casino just give away $200? The answer is that they are not. Bonuses usually require that you wager a certain amount before you can cash them in. For example, a $200 bonus might require that you wager 25 times the bonus amount before you can cash the bonus in – so you’ll need to wager $5000. However, if you are smart about which bonuses you choose, they can really work in your favour. For example, a player is expected to lose 0.5% of their wager playing Blackjack, so if we are talking about a $5000 wager that is $25. That leaves $175 of your $200 bonus as cashable profit – not a bad deal at all. And if you are really good at Blackjack, the deal is even better.
Another reason online casinos can afford to give away bonuses is that overhead costs are much lower than in brick and mortar casinos. And of course, casinos all want to increase the number of customers they get. Casinos thus want to make their bonuses look especially appealing in comparison to competitors.
Some bonuses can’t be cashed in at all – these are called “sticky” bonuses. What they give you is extra money you can use to wager – and if you win the bet, you can pocket your winnings, but not the bonus itself. So if the bonus is $100 and you win $50, you can cash in the $50 dollars, but if you want to keep playing you’ll have $150 to play with. There are two kinds of sticky bonus – type I and type II. For type I bonuses, you lose the bonus when you decide to withdraw, but with type II you don’t. So always go for sticky type II bonuses if you can!
No Deposit Bonuses
Some casinos offer bonuses even before you have sent in a deposit, or give you a certain number of free spins without a deposit. The bonus is typically not a lot of money, but it is still a great deal. No deposit bonuses allow you to try out an online casino to see if you like it without wagering any of your own money!
Bonuses are way for the online casino to attract new customers – they’re not a trick! Take that bonus, just make sure you don’t have to wager more than you are prepared to cash the bonus in.