What is a First Deposit Bonus?
Online Casinos attract new players by offering them an extra amount of money for signing up with them and making the first deposit. The amount the player receives depends on the online casino in question, and how benevolent they are. Loyal customers get rewards as well, but they are never as generous as the first bonus. The reason is that in most cases, the first rewards are so high that casinos do not make a profit on them. If casinos offered rewards that high every time, they would not be making money – and that’s bad for the business. In sport-gambling sites, the bonus is determined by doubling the number of deposits.
The first deposit bonuses can either be cashable or non-cashable. If the rewards allow the player to withdraw his reward funds with the winnings generated from it, then it is called a cashable first deposit reward. However, if the player is unable to withdraw his bonus, but only the wins generated from the reward, it is called a non-cashable first deposit reward. Players are often advised to go through the terms and conditions before playing in a casino. The first input reward has its expiration period. Promotions are run by most casinos for about 30 days.
The First Deposit Bonus Conditions
The most important requirement that must be considered when looking for a first real money reward is to know if the bonus is tied to the deposit or not.
If the bonus is not tied to the deposit, a player can play with his deposit as though he did not have any reward at all. Now, if the player wins, the reward can be canceled, and the winnings can be withdrawn. However, if he loses, the bonus can stand as a second chance – much like a “second deposit”.
If the bonus is tied to the deposit, the player must follow the reward rules from the beginning. Even if he wins a huge amount of money, the funds cannot be withdrawn until the reward is rolled over. If he cancels the reward, all the previous wins will be rendered void. This can be quite frustrating, and in most cases, places the player in a dilemma, and it is the reason why players refuse some of the tied bonuses with a value below 30% of the deposit amount
In addition to this, it is also important for a player to check if his favorite game is allowed. Also, a player must be aware of the maximum bet per spin. Usually, this is $5 or within 10% – 20% of the reward value.
Basics of First Deposit Bonus
The basic rule of casino bonuses is that a player cannot withdraw his reward if he has not played long enough with it. Otherwise, players might enter a casino, obtain their bonus, and walk away with it and their deposit without even playing a single game. As mentioned above, a wagering requirement is a limiting condition that forces a player to play considerably long enough with his bonus until withdrawal.
Wagering Requirements (WR) are usually expressed in terms of how many times the bonus has to be rolled over before withdrawal. Some casinos state the wagering requirements of the reward, while others will state it for the reward and the deposit. For example, a 50× WR for a 100% reward + deposit is equivalent to a 100× WR for the bonus amount.
Once a player signs up and makes his first real money input, he is then asked to opt-in because the reward is not released automatically. Then, the player may choose to accept or decline the wagering requirement. Once he accepts these conditions, the online casino then creates another reward account, which has the bonus money. Once the player starts placing a bet, the reward money is released accordingly into the main account.
The Different Kinds of First Deposit Bonus Available
Two types of the first deposit bonus will be discussed:
First Deposit Match Bonus Offer
Players who register their account and make a deposit will receive an equal amount of the deposit in reward funds. This is known as a 100% deposit match bonus. This deposit match reward is capped almost always. These match rewards have additional limitations apart from the standard ones (e.g. the minimum deposits required).
First Deposit Free Spins Bonus
In this case, players who register their account get several free spins that can be used on designated slots. These free spins are additions to the reward funds players get when they make their first real money input. They are also subject to certain limitations.
How is First Deposit Bonus Different from Welcome Bonus
Even though both terms sound almost the same, they are not. Welcome, Bonus – also known as No Deposit Bonus – is the bonus rewarded that is gifted to players upon signing up. The player does not need to make a deposit – hence, the term no deposit bonus – to be rewarded with a reward. This implies that new players can then place bets without using their own money. Some casinos’ welcome rewards can come as a free slot reward.
For a first deposit bonus, a player must meet the minimum deposit to qualify for bonus funds. As already discussed above, most online casinos give a 100% deposit match bonus. However, many casinos will offer match bonuses that are more than or less than 100%.
They may seem similar, but they have basic differences. While one requires an amount of money to be deposited, the other does not.
An individual walking through the market will surely get enticed by promotions from several sellers. Imagine passing by a store, and the person sees a commodity, normally worth £10, being sold for £5 with a better warranty, or he sees something like “buy 3, get 2 for free”. Naturally, he would get drawn to this offer. This is the exact way bonuses work in the casino world. Free spins, match bonuses, welcome bonuses, and other forms of reward are used to lure potential players.
Bonus codes are needed to activate the reward offered by casinos. Some casinos offer such codes on birthdays as a way of appreciating loyalty. They are also used to offer VIP players extra rewards, or as a ticket for a casino tournament. Some bonus codes are just meant for VIP gamblers.
However, the codes are only valid if the bonus is valid. The validity of a bonus ranges from days to several weeks – of course, it doesn’t last forever. So, once the reward expires, the reward codes do too. Hence, players are always advised to make use of these codes immediately after they are given to activate their bonus before they expire.
Conclusively, the first real money input is the most widely used casino reward. Aimed at new players, the reward is the ultimate “weapon” casinos use in fending off the stiff competition amongst one another. Some people often wonder if there’s a catch in claiming this reward. Some gamblers know that there’s no such thing as “free cash” in the gambling world and that any offer from casinos is just a ruse to keep a player more. However, this is not true.
Yes, casinos make most of their money from slots, and they give out enticing incentives to make players keep coming back. However, this first deposit bonus is a way of giving potential gamblers “an extra lift” when they decide to venture into the casino world. One of the properties of a good casino is how fair is their first deposit bonus and the conditions required to obtain it.
Is First Deposit Bonus free?
Some people wonder if it is free. Some casinos offer the first deposit bonus for free, but this is very rare. What happens is that the bonus carries with it a playthrough – a wagering requirement. It is only when these conditions are met by the player can he be able to withdraw funds. It is seen as a number displayed with an “x”. This requirement restricts the withdrawal of the first bonus funds, as well as the initial deposit and any winnings obtained from the bonus amount. Also, as mentioned earlier, this wagering requirement considerably limits the choice of the player to withdraw at any given time.
Is it safe to use the First Deposit Bonus?
Yes, definitely. The use of the first deposit reward is safe. To claim it, the player uses the casino’s payment method to save his finds into his bankroll.
How do you find the best first deposit bonus offer in the UK?
To explain this, some terms must be explained. This is illustrated with an example. Imagine that a poker room offers a 100% match bonus of up to £500.
The “100%” means that for each input a player makes, he gets the same value as a reward. The “up to £500” means that the match reward cannot exceed £500, no matter how many “hands” the player plays. If, in this case, the player deposits £300, and he is offered a “200%” match bonus, this means that his match reward funds will be £600 (which should sum up to £900 in his account), but because the bonus limit is £500, his reward can never exceed that. Instead, he will be left with £800 (bonus and deposit) in his account balance. Also, as explained earlier, a 10× WR means that a player must wager his reward a minimum of 10 times before he can successfully withdraw his reward and winnings.
Now, with this knowledge, an interested player searching for the best reward offer should search online for “the best casinos in the UK”. Then, he should check the terms and conditions of the casinos (this is highly important). He should check for the minimum deposits, the first deposit reward type (match reward or free spin), the reward rate, and the wagering requirement. Most casinos offer more than 40× WR. Yet, the best casino will offer a very little minimum deposit, a very high bonus (200%, 300%…), and the wagering requirement should be as low as possible (less than 40×). With these conditions, a player can get a high bonus with a very little deposit, and the wager limit is considered fair.