The acceptance of gambling has grown to the extent that casinos have become one of the favorite destinations in various parts of the world. The global market for gambling sites is expected to hit a valuation of $458.93 billion in 2026. This speaks volumes about the development this industry is witnessing. There are two key reasons for the growth – the emergence of online casinos and bonuses or rewards.
Numerous gambling platforms now offer to retain old customers and attract new ones. When a prospective customer comes across a bargain such as Slots of Vegas bonuses, it’s almost impossible to resist signing up. As an enthusiast, it makes sense for you to acquaint yourself with the different types of casino rewards and bonuses. While some are incredibly widespread and used by most providers, others are less popular. You may have come across some of these terms but haven’t taken out the time to find out what they mean. Let’s fix that right now as we delve into the world of casinos and their offerings to old and new customers.
Types of Casino Bonuses/Rewards
First Deposit Bonus
This is a very prevalent reward offered by casinos to new players exclusively. Though it’s popular, it’s not provided by every gambling site. Some opt for a bonus on sign-up instead of the first deposit, although the latter is better at motivating gamblers to put money in the system. This reward is offered by a casino to a new bettor for making his initial credit on his newly created account.
You should also know that there are different variations of this type of reward. While some casinos give a bonus regardless of the amount you deposit, others offer it if the player transfers a certain sum. For instance, A provides bonuses to every new gambler that makes a first credit, no matter how small (the motivation is for new signups to quickly make a deposit after signing up to engage the platform’s services offerings). On the flip side, B provides a bonus to those who transfer from $100 and above (this is to motivate players to deposit significant amounts).
Welcome Bonus
This is another name for a sign-up bonus. It’s just as popular as other options. This casino reward is offered to new players who have just signed up on a platform. This is a very effective means of attracting new users, and numerous casinos leverage this to increase their clientele. While some operators offer this by creating a new account and logging in, others tie it to making a first credit. In this case, it’s a welcome bonus, but it can only be claimed by the new player when he makes a deposit into the new account.
Cashback
This is an interesting casino reward. It entails the platform compensating the player regardless of the outcome of the game- whether they win or lose. This comes with terms and conditions. It can be a partial refund to a bettor if he plays a game within a certain period. For instance, some sites may offer you 10% of your account balance if it falls below a stipulated amount. This is to encourage the gambler to keep on playing even if they lose. There are two ways one can get cashback. The first technique is a direct credit from the platform to eligible gamblers, while the second method involves redeeming certain promo codes to claim bonuses.
Free Spins
Virtually every gambling platform provides free spins to new players and even existing ones. Through these offerings, new users can experiment on a platform and enjoy games without risking their funds. This reward is usually attached to a designated value with the minimum stake amount, and it sometimes comes with a matching deposit bonus, depending on the casino.
Loyalty Reward
This bonus is mostly for old customers who have been with the platform for a while. Some casinos provide this reward to clients who have been actively playing on their platform for at least 3 months, while others offer this to those who have been with them for more than 6 months. This is a great way to retain most of your users.
Alternatively, some operators provide loyalty benefits to both old and new customers. In this case, rewards are offered to those who play regularly on the platform, regardless of when they joined.
Matching Deposit Bonus
This is hands-down the most enticing casino reward in the industry. Why? Because players can get bonuses matching what they deposited between a range of 50% – 500%. This usually comes with a minimum transfer threshold and specific wagering requirements. It’s also the most versatile – it can come in the form of daily, weekly, monthly, and even sign-up bonuses depending on the platform.
Referral Bonus
We guess it’s safe to assume that every provider in the world has a referral program. When a player refers new users to a platform, there are certain rewards and bonuses for that. It also comes in variations. Site A may give you a one-time bonus, which may be a certain percentage of the person’s first-time deposit. On the other hand, site B may offer you continuous rewards, which may include a certain percentage of the player’s winnings.
Takeaway
The gambling industry is a very competitive one and most times, what gives a certain casino an edge over its rivals are the rewards and bonuses. While they may provide the same thing, offering the most attractive variation can be the difference maker.
