On the iGaming scene, online casino bonuses are a popular promotion for players to back up their real money deposits, play real money games for longer, and try out new games.
Bonus deals, in part, are insurance for when your luck is running cold. Some of the most common offers available include:
- Deposit match bonus deals – for example – a 200% deposit match + free spins
- Free Spins bonus deals – deposit free spins to earn bonus money
- Reload bonus deals – regular deposit match and free spins offers
- Network promos – a way to spin the real with a chance of netting free real money prizes
There are many more casino bonus offers out there, and there is no end to the incentives online casinos create to keep you in the game to make sure you get value for your money.
Table of Contents
Winning is always the objective!
Despite the allure of bonuses and their many advantages, not to state the obvious, winning streaks are the most exciting side of gambling. How many times have you met a casino player that plays to lose? OK, maybe you are thinking of the Ozark series, where some guys working for the big boss hated winning. That’s because it was their job to lose in order to turn illegitimately earned cash into legitimate cash that could made legit.
With RTPs (Return to Player) for online slots averaging around 96% and table games like Blackjack offering RTPs of up to 99.5%, hitting a hot streak is easy enough when gambling. However, if you enjoyr dabbling in slots and table games, you have to also accept the inevitable losing streaks. The old saying goes, ‘Take the good with the bad’.
Bonus deals cushion losing streaks!
Bonus deals generally protect players while running cold. If you know much about gambling, usually, a run of bad luck can quickly change into a hot streak. That’s variance at play. It is the same as flipping a coin. You might bet on heads, but tails come 16 times out of 20. The next 20 flip heads come 16 out of 20 times. However, the probability is 50/50; a set of coin flips will rarely even out that way.
What does this have to do with bonus deals?
The best way to explain this is to take one of the bonus examples from the list mentioned in the introduction above. Let’s go for the deposit match and explain the background to how the bonus type works and how it can be used to insure your original deposit as well as maximise the fun of playing at online casinos.
The 200% Deposit Match Bonus Example
Let’s say you opt-in for a 200% deposit match bonus to play online slots. You deposit £20.00 and get an extra £40.00 (200%) on top. Theoretically, you have a £60.00 starting balance. This is split into a £20.00 real money balance and a £40.00 bonus balance. The time the bonus is active will also be limited. Usually, 14 days is fair, but some are a mere 3 to 7 days, while more generous offers give you 30 days.
Most bonus T&Cs will require you to bet using your ‘real money’ balance first. This is where the very idea of the 200% deposit match bonus comes into play.
Here is how it works in 4 simple stages:
- If you hit a losing streak with your £20.00 worth of real money, your bonus money kicks into action. Effectively, you are still in the game.
- While you start etching away at your bonus money balance, your spins suddenly turn hot. In other words, that winning streak kicks into action, and you now have a shot at turning that £40.00 bonus balance into real money.
- You continue playing and hitting the online slot’s bonus rounds, and a large multiplier wins.
- Eventually, if you win enough, i.e., play through the bonus wagering requirement, you not only turn the £40.00 into real money but if you continue to win before the bonus expires, whatever your balance is when the bonus expires, converts to your real money balance.
As you can see from this 200% casino bonus example, you’ve, in effect, insured your original deposit, played for longer, and gotten more bang for your buck!