After the customer chooses the banking method, they have to double-check what minimum deposit is eligible for the bonus, and what maximum amount qualifies for the match bonus. Then, they decide what deposit they can afford. When deciding upon this, the customer should also keep in mind the wagering requirements, because they will have to wager the bonus several times (usually no less than 30 times) before the withdrawal function will be unlocked for them. So, when the customer assesses what size of deposit they can afford, they should also take into account potential need to deposit a bit more, to meet the wagering requirements and be able to withdraw the winnings, if any.
When a customer merely makes a deposit of own money and bets with this money, their deposits should be wagered at least once before withdrawing the winnings. When a bonus is attached to the deposit, the withdrawal requirements are way higher. This is done to keep the player betting more, and also, to make the player leave more money on the site (let’s be honest here). There is a bunch of rules that are connected to meeting the wagering requirements, and you should read through them very carefully; if you fail to comply with all the rules, the bonus can be forfeited, and all your winnings can be voided.
These rules are usually as follows:
- not all games contribute to meeting the wagering requirements; some do not contribute at all
- sometimes, only a certain list of games is allowed for wagering; if other games are played, the winnings can be forfeited
- certain bet limits are set; if the bet is bigger than allowed, the bonus and winnings can be forfeited
- the player cannot order withdrawal until the wagering requirements are met; sometimes they can, but the rest of the bonus and winnings will go void
- if the player has wagered all their bonus money and deposited money, but still failed to meet the wagering requirements, they have to make another deposit to continue playing until the requirements are met; only after that, the withdrawal option will be unlocked
- the player can ask the Customer Support to remove the bonus before the wagering requirements are met, but all the money already won by betting the bonus will be removed from the balance as well.
After these nasty wagering requirements are met at last, the customer is able to order withdrawal of their winnings.
Types of Welcome Bonuses
Classic Welcome Bonus
This type is classic, because you will most likely find it on the majority of websites in the online gambling niche. This type is a match prize to the deposit. For example, it can be a 100% match up to $100, with the minimum deposit eligible $10, plus 25 Free Spins on a featured slots game. Wagering requirements are usually from x30 to x50. While such bonus may seem unimpressive - you will see way more lucrative match online casino bonuses out there - it is rather realistic and may signal that the website does not promise pie in the sky, and is actually ready to pay you.
This type is a variation of classic, but it is used in a cascade manner to several consecutive deposits made by the newly registered customer. For example, you get 100% match up to $100 for your first deposit, 75% match up to $100 for second deposit, 50% match up to $100 for the third deposit, and so on, plus 100 Free Spins, given out 20 FS per day in five consecutive days.
The match percentage, the minimum deposits and maximum sums, and amount of free spins bonuses vary from site to site. Some platforms offer smaller bonuses with each next deposit, other, in contrast, increase the match percentage with every consecutive deposit to keep the customer interested. To get the most out of such packages, read the rules carefully.
Live Dealer Welcome Bonus
As a rule, classic variations do not allow making bets on Live Dealer games. This is usually caused by internal technical specifications and processes on the website; some casinos do allow access to Live Dealer games with general Welcome bonus. Yet, if you are fan of the Live Dealer Games, you may want to find a specific Welcome Bonus for Live Dealer lobbies. These often resemble classic Welcome offers, but the bet size and the wagering requirements are usually higher. Also, in contrast to general Welcome bonus that can potentially be used in any game, the Live Dealer Games Welcome Bonus can only be wagered on Live Dealer games. Obviously.
Cryptocurrency Welcome Bonus
Another rare variation is Welcome Bonus for customers who are willing to deposit in crypto coins, be it Bitcoin or other currencies. The concept of the offer is usually the same - a match percentage to the initial deposit. Here, the scope of games allowed is even smaller, because there are really few casino game software products that are suitable for betting with cryptocurrencies. In other aspects, the offer is pretty much the same.
Word or warning to customers depositing with digital currencies - before you even deposit, check if the site allows withdrawal of digital currency, not only depositing. Such situation is not rare, as some smart ass casinos accept crypto money, but pay the winnings out in fiat currencies, this way, accumulating crypto coins for themselves. Avoid this scheme and make sure you can send and withdraw in crypto.