Internet Casino Bonuses – Three Common Types
Interrnet casino bonuses are funds that an online casino deposits into your account as opposed to funds that you deposit. For years land-based casinos have offered free drinks, free meals, and other “comps” to encourage gamblers to come and play at their casinos. The Internet casinos searched for comps applicable to the Internet and came up with the best comp of all – free money. Since thousands of online casinos fight for your business, there is fierce competition, and while most casinos require you to make a deposit before you receive any bonus, some now offer bonuses with no deposit requirement.
Common bonuses fall into one of three categories. The traditional bonus (1) is fully cashable after a certain amount of play. The terms may be: “Deposit $100 and get a $100 bonus.” Sounds simple, but the devil may be hiding in the details. With any bonus it’s extremely important to read all the terms and conditions attached to the bonus offer. You may find the bonus is really a “sticky” bonus (2), a bonus that stays with the casino. It’s non-cashable and may be used “for wagering purposes only,” and should you withdraw all your winnings and your deposit from your account, the sticky bonus vanishes. A semi-sticky bonus (3) allows you to draw all your deposit and winnings out of your account, but the bonus stays in your account until you lose it. The casino wants you to continue playing and uses this as an inducement.
Hustlers originally used the traditional bonus to make money from the Internet casinos by signing up with casinos that offer huge bonuses, playing a game with a low house edge, and then closing out the entire account. This worked as long as the house edge didn’t eat up more than the bonus. For example, the house edge in blackjack is roughly 0.5%. If the casino requires $5000 in wagering to earn the bonus, a house edge of 0.5% will result in a loss of $25. If the casino offered a $100 signup bonus, the player earned a profit of $75 after subtracting the expected loss of $25.
Casinos fought back by raising the wagering requirements. Most casinos now exclude from the wagering requirement games with very low house edges and games where the gambler can bet simultaneously on two almost equal outcomes. For example, betting on the black and the red in a single zero roulette game reduces the house edge dramatically. Most casinos exclude roulette, baccarat, video poker, and craps, and many have started to exclude blackjack. Some casinos go so far as to exclude all games except slots.
The no-deposit bonus mentioned above allows you to try a casino and its software without requiring a deposit. As with all bonuses (and I’m repeating it because it’s important) be sure to always read a casino’s terms and conditions before signing up for any kind of bonus, even a no-deposit bonus.