How to Make Money from Online Casino Bonuses?
One of the best ways to play games is with an online casino bonus. Casino bonuses allow you to play with basically free money. Bonuses work in many different ways, but most websites have a welcome package that entices new players to join their site.
These casino bonuses are a great way to get exclusive deals and play slots using exciting features such as free spins or even cashback bonuses. If you’re wondering how to make money from online casino bonuses, read on for our full review of the best casino bonuses that are offered so you can start playing right away.
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Best Sites & Online Casino Bonuses
Our site presents all the top casino bonuses that are offered in the gambling industry. Instead of searching around for free games, deposit bonuses and other bonuses that are offered by casinos, you can check out our site for these full details. We’ll describe all the best online casino games where you can use bonus cash so you don’t have to lose money that you put into your account.
Most casinos will offer an amazing welcome package, and you can learn how to make money from online casino bonuses by reading more of the details below. We provide a list of recommended casinos so that you can take advantage of all the best bonus bonuses that are available to you. Read our trusted reviews of online casinos so you can know which one has the best welcome offer and where you should be wagering your cash.
Learn How Operators Work
The first step to follow if you want to learn how to make money from online casino bonuses is to understand how the online casinos work. Online casino bonuses are offered so that new players will sign up for an account at their casino. They want people to play specific games sometimes, so they’ll offer free spins to people who sign up for new accounts.
A casino bonus is a great thing to take advantage of, but it’s also very important to know what the wagering requirements are. For example, a welcome bonus may provide you with matched betting in addition to your own money that you deposited into your account.
But, the wagering requirements may say that you have to bet that money at online slots a certain number of times before you can withdraw winnings from it. While this is still free money, of course, its not completely yours until you meet the bonus wagering requirements.
Learn ‘Expected Value’ of Bonuses
All online casino bonuses have what’s known as an expected value. Generally speaking, this is described as the average of a random outcome. In terms of an online casino bonus, it can be used to determine whether certain online casino bonuses are worthwhile for you to claim.
The ideal situation is for you to receive a positive expected value out of the bonus amount you are given. To calculate the expected value for any casino offers, simply take the total amount of the bonus, subtract the house edge and multiple that by the wagering requirements.
Let’s assume that the total cash value of the bonus is IRP 100, the wagering requirement is 20x (so IRP 2,000 in cash value) and the house edge of the game you want to play with the bonus is 2.5%. In this case, multiply IRP 2,000 by 2.5% and you’ll get IRP 50.
Then, subtract that from IRP 100, and you’ll get a positive expected value of IRP 50 in cash from this casino bonus. In this case, the bonus terms for these example bonus offers would be worth claiming.
Know RTP & House Edge
Of course, you won’t be able to calculate the above expected value of the bonus online casinos offer unless you knew what the RTP and house edge were for the games in question. Luckily, this information is readily available online.
The RTP is known as Return to Player. It’s expressed as a percentage, and tells the player how often they can expect to win based on what cash they bet. The higher the RTP, the better the game is for the player.
Ideally, then, you would use your free spins at slot machines that have a high RTP. This would allow you to take advantage of the maximum bonus available to you.
The house edge is similar, except it shows the advantage the casinos have for the games people play. All casino games have an edge to the house, of course, otherwise the casinos wouldn’t offer them.
Ideally, you want to play games that have an edge that is low for the house. So, for example, you’d want to select a casino game that has this low edge so that you can get the most out of your deposit bonuses and make money from them.
Can You Really Make Money in Casino with Bonuses?
Yes, you absolutely can make money from a deposit bonus, welcome bonuses and cashback offers that are available at various casinos. The vast majority of online casinos today will offer bonuses that entice players to sign up for an account at their casinos.
And while you may think this means that the casinos won’t be giving out any winnings from these bonuses, that’s not true. If you use the best bonuses to your advantage, and take advantage of more bonuses when you’re offered them, you can find yourself making money with a relatively small initial bankroll.
How to Claim a Bonus
If you want to take advantage of a welcome bonus, free spins or any other type of bonus amount that a casino offers, then you’ll need to know how you can claim the bonus money they are offering. In the following paragraphs, we’ll describe the ways that you can claim a bonus at the vast majority of casino sites. While the exact process may vary from one casino to the next, most will work in a similar way.
Sign Up at an Online Casino
First, you need to find an online casino that fits your needs and offers a great bonus. A great place to start in this search is our site. Our experts have reviewed all the different bonus options available at the best online casinos in the world. We review the best bonuses available for slots, table games and more so that you can maximize the money you take out of the casino.
We’ll let you know where you can find the most free spins as well as the best bonus offers. We’ll even provide you with an affiliate link so that you can get the most cash out of your casino bonus when you’re playing slots games.
Claim Your Bonus
Once you’ve chosen your casino that you want to wager your money at, it’s time to claim the bonus that they’re offering. First, check to see if you have to enter a bonus code in to qualify for free spins or any of the other bonuses the casino is offering. You might not have to enter a special code for a welcome bonus or to get free spins, but some casinos do require you to click on a special link to sign up.
Make Your Online Deposit
Next, it’s time to make a deposit into your casino account. The casino you choose to get a bonus at should obviously offer you the payment method that you prefer to make your deposit with. So, make sure you check all the deposit options first so that you can put your money into your account so that you can take advantage of the bonus amount.
You have to make sure that you deposit enough money into your account so that you can qualify for the bonus. For example, a casino may require you to deposit a certain amount of money to get free spins at some of the their top slots titles.
Play Games for Real Money
Once you have put the deposit into your account, it’s time to play games for real money. You can choose to use your bonus money on whatever games that the casino offers, as long as they fit within the terms of the bonus.
Again, make sure that you check to see what the wagering requirements are, including which games you can and can’t play with the bonus.
Withdraw Your Winnings
Once you play the games, if you’ve won any money, you can then withdraw them, but only after a certain amount of time.
Sometimes, casinos have a requirement that you playthrough the bonus a certain amount of times before you can withdraw any winnings you get from them. Again, this is going to be laid out in the terms of the bonus when you qualify for them, or in the terms and conditions.
What Kind of Bonuses are Available?
There are a number of different types of bonuses that are available that an online casino may offer. In the following paragraphs, we’ll describe some of these main bonuses so that you can have a better sense for what you might be able to take advantage of.
No Deposit Bonus
A no deposit bonus does exactly what the name suggests — it offers you a bonus that you can qualify for without making a deposit on the site. These bonuses aren’t as readily available as some of the others on this list, but they do exist. A lot of times, a no deposit bonus is given in the form of free spins that you can use at select slot games that the casino wants you to try. These are sometimes available for current and new customers.
First Deposit Bonus
A first deposit bonus is the most common form of welcome bonus. It often works as a match bonus, where the casino will match your initial deposit up to a certain amount.
If your first deposit is IRP 100, for example, the casino will match that and give you IRP 100 to use on games at their site. This first deposit bonus is often the most lucrative part of a welcome bonus.
Casinos will also offer reload bonuses from time to time. These usually work the same as the first deposit bonus, except they apply for any subsequent bonus in which you reload with more money.
Sometimes, the match percentage isn’t as high as the first bonus, or the maximum amount is lower. But, it’s still a great bonus to take advantage of.
Some casinos will offer a cashback bonus. This will work just like rewards programs at land-based casinos work, or similar to rewards that credit cards offer. For every bet you make, you will get back a certain percentage. This works as cashback, except it’s money that you can use to play certain titles.
VIP Program Offers
If you wager enough on a consistent basis, some casinos will put you in a VIP program. The more you bet and deposit, the higher you can move up the VIP levels. You can then earn points that you can redeem for swag and free spins, for example.
Or, if you get high enough up the VIP program ladder, you could qualify for reduced fees, higher maximums on deposits and withdrawals and other special perks.
Tournaments & Events
People who play enough at certain casinos will be invited to special tournaments and events that happen on the site. A lot of times, you’ll receive a free entry to these events and/or tournaments, and then be given the chance to win real money. This is a nice bonus offer for casinos to give to their best players, and also something that’s a lot of fun for players to take advantage of.
Bonus offers are one of the best ways that you can maximize your winnings at casinos today. If you want to learn how to make money from online casino bonuses, read our full guide above. These are some of the best tips that will help you take advantage of the best bonus offerings out there.
If you want more information on which sites have the top bonuses or how to play certain games, check out our site on a consistent basis.