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Different Types of Casino Bonuses Explained

One thing that worries many sports bettors is the risk of losing money. But it is impossible to avoid losing money when gambling. The important thing is to lower the risk. As a new bettor, you can use bonuses to lower your risk as you learn how to bet. Bonuses will boost your wins even as you learn how to become an effective bettor. There are different bets applicable in different circumstances.

The classic welcome bonus—every gambler’s introduction to a new online casino. It’s that flashy sign saying, “Come on in; we’ll double your money!” Casinos offer these to new players, often matching your first deposit with a percentage, like 100% up to $1,000. Sometimes they sweeten the pot with free spins, too (e.g., “100% up to $1,000 + 200 Free Spins”).

This bonus is great for padding your bankroll as you get familiar with a site or try out new games. But here’s the catch—always read the fine print.

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These bonuses are a bit niche but worth keeping an eye on. Some casinos incentivize players to use specific payment methods, like e-wallets (PayPal, Skrill, or Neteller) or cryptocurrencies, by offering a small bonus—typically 10% to 15% of your deposit. It’s a neat perk if you’re already using those payment options, but I wouldn’t chase this type of bonus unless the terms are favorable. Watch out for exclusions, as some bonuses might not apply to certain deposit methods.

This one’s a fan favorite, especially for those who want to try a casino without risking their own money. A no deposit bonus gives you free cash or spins just for signing up. For instance, you might get $20 or 50 free spins simply for creating an account. It’s perfect for testing the waters, but don’t expect to walk away with huge winnings.

These bonuses almost always come with high wagering requirements and caps on how much you can cash out. Still, they’re worth a shot if you’re exploring a new platform.

Once the honeymoon phase with a casino is over, reload bonuses keep the relationship alive. These are like smaller-scale welcome bonuses offered on your second, third, or even ongoing deposits. For example, a casino might offer a 50% bonus up to $500 for your second deposit. They’re a great way to stretch your bankroll if you plan to stick around. Just remember, the terms (wagering, eligible games, etc.) often mirror or are slightly stricter than the welcome bonus.

If you play big, the casinos will roll out the red carpet. High roller bonuses are tailored for players making substantial deposits—think $1,000 or more. The perks might include higher deposit matches, cashback, exclusive events, or even a personal account manager. But these come with a caveat: don’t stretch your bankroll just to qualify for VIP perks. Only go for these bonuses if the wagering requirements and benefits align with your regular playing style.

Got friends who gamble? A referral bonus rewards you for bringing them to the casino. For instance, you might get $50 or a percentage of your friend’s first deposit. It’s an easy way to make some extra bankroll, especially if the casino offers generous referral terms. Just make sure your friend enjoys online gambling—it’s no fun if they feel pressured to join just for your benefit.

This is where many bonuses lose their luster. Wagering requirements refer to the number of times you need to play through your bonus (and sometimes your deposit) before cashing out. A 40x wagering requirement on a $100 bonus means you’ll need to bet $4,000 before you can withdraw any winnings. Look for bonuses with lower wagering (20x or less is ideal), and always confirm whether the requirements apply to just the bonus or the bonus + deposit. Also, check which games contribute—slots often count 100%, but table games might contribute far less.

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This type of bonus is also known as a sign-up bonus, first deposit bonus, or new player bonus. You get the casino welcome bonuses when you become a new member at a casino. Welcome bonuses can be a direct boost on your stake, or allow you to play a specific number of games. An example of a welcome bonus would be: 100% up to $1150 + 500 Free Spins. The casino will match your first deposit up to $1150. You also get 500 free spin games.

Free spins are also called cash spins or extra spins and also count if looking for online pokies with real money. These spins are usable to play in video slot games. Free spins usually come with lower wagering requirements than cash welcome bonuses. Some casinos will also give you free spins on the second and third deposits.