The Deposit Bonus in Online Casinos

Online gambling is a fiercely competitive industry and online casinos offer a variety of bonuses and promotions in order to attract and retain clientele. One of the most popular attractions is the deposit bonus.

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Though the deposit bonus is packaged differently by each online casino in essence it works as follows. When a player registers with an online casino and makes his first deposit the deposit bonus comes into play. The casino transfers funds into the player’s account that the player can use to play. This is known as the deposit bonus. The basic structure of the deposit bonus is as follows. The bonus deposit is X% of the deposit made by the player limited to an amount of $Y subject to the player making a deposit of minimum $Z. In specific terms it would read as 100% of the deposit made by the player limited to an amount of $500 subject to the player making a deposit of minimum $100. This implies that the player has to open his account with minimum $100 in order to be eligible for the deposit bonus. For any amount between $100 and $500 the player puts in as a starting deposit the online casino will put in an equal amount. If the player puts in more than $500 the online casino will restrict its amount to $500. The percent of deposit bonus is usually at least 100% but goes up to 500% and beyond. The limiting amount of the deposit bonus bears a correlation with the minimum deposit the player is required to make. If the player is constrained to make a deposit of minimum $100 then the deposit bonus would be in the region of $300 to $600. For high rollers the terms are more extravagant and for minimum player deposit of $1,000 the deposit bonus could be around $6,000.

Traditionally the deposit bonus applied only to the first deposit made by the customer but because of the competition now various schemes abound. Some online casinos offer deposit bonuses on the second and third deposits as well though at reduced rates. Others offer the deposit bonus on the first deposit of every month for the first six months. These are schemes devised by the online casinos to try and ensure that the players remain faithful.

The online casinos are very clear that the deposit bonus is not a freebie to take home without playing. There are rigid conditions that apply to the cashing of the deposit bonus. Players are required to wager ten to fifteen times their deposit plus the bonus before they can cash the deposit bonus. Therefore players should treat the deposit bonus merely as an extension of their bankroll and not money in their bank account.