Confusing welcome bonus terms explained
It seems like welcome offers would be easy to understand right? Well, they can be. But for most people, bonus terms are fairly confusing and full of peculiar lingo. There are a lot of industry specific terms used, and for anyone new or inexperienced in gambling, it can all be a bit confusing. Luckily, it doesn’t have to be.
If you’ve ever used an online casino or bingo site, you will have seen welcome bonuses. These offers are designed to welcome new players and celebrate their first plays.
It seems like welcome offers would be easy to understand right? Well, they can be. But for most people, bonus terms are fairly confusing and full of peculiar lingo. There are a lot of industry specific terms used, and for anyone new or inexperienced in gambling, it can all be a bit confusing. Luckily, it doesn’t have to be.
We get how frustrating it is to understand just what you will be getting with different welcome bonuses. How else can you make sure you’re getting good bang for your buck? That is why we have created this welcome bonus lingo guide. With this by your side, you’ll be able to make sense of whatever is thrown your way.
Terms you see and what they mean
Percentage Bonuses:
These are some of the most popular welcome bonuses on offer. They are a popular choice for online casinos. You may have seen 30, 50, or even 200% bonuses while browsing online, although the most frequently seen welcome bonus is a 100% one.
All this means is that you will be credited with bonus funds worth a percentage of your initial deposit. If you make a first deposit of $10 and get a 100% welcome bonus, your account will be credited an additional $10, leaving you with $20. Or, if you make an initial deposit of $100 with a 50% welcome bonus, you’ll receive an extra $50, meaning you have $150 to use.
Higher percentage bonuses are more likely to be capped, so don’t be surprised if you see a maximum bonus of $50 or $100 offered where the percentage is more than 100%.
Free Spins:
If you have ever played slots in a casino, you will have seen the term free spins thrown around. Happily, this welcome offer isn’t too confusing. It’s just what it sounds like, no-cost spins on a slots game. The casino will usually allow you to use your free spins on particular pre-selected games.
With a free spins welcome bonus, you get to bet without needing to put any of your own funds behind it. You can still win money, but you don’t lose your own money because you haven’t paid for the spins. Some offers will have a winning cap, meaning that if you get extraordinarily lucky and hit a huge bonus round or jackpot, you’ll only win as much as the welcome offer states.
No Deposit Offers:
This is essentially a free trial of a site. With a no deposit offer, you don’t need to make an initial deposit of any amount to receive the welcome bonus. Most casinos that offer a no deposit offer will offer $5 or $10, and you are not required to deposit any amount after the money is credited to your account.
The only catch is that you must use the awarded cash to play with the casino and cannot just withdraw it. No deposit offers are fairly popular with players because they allow you to gamble without risking any of your own money. No deposit offers will also come with huge wagering requirements too.
Wagering Requirements:
Many casinos attach wagering requirements to their welcome bonuses. These affect how you can use your deposit and prevent you from immediately cashing out, so you must understand what this term means before you get started.
So if you see a 20x or 40x wagering requirement, what exactly does it mean? You have to wager your bonus 20 or 40 times before you can withdraw. A $50 bonus with a 20x wagering requirement means you must bet a total of $1,000 before withdrawing the bonus.
Read our guide for a more detailed explanation of wagering requirements.
Cashback:
If you see a cashback bonus as part of a welcome offer, it means the casino returns a percentage of your deposit to you if you have a losing streak. It can be a continuous offer or only available for a limited time. Some are given on a specific game or the total of your losses over a certain period.
Reload Bonuses:
You can get a reload bonus (if offered by the casino you are playing with) when you deposit more money into your account. There are both flat rate and percentage reload bonuses available. These rewards are usually offered to players who deposit a minimum amount, either monthly or weekly. Some reload bonuses will also be tied to players using a particular payment option to make their deposits.
A casino may offer a flat fee reward of $5 for players making a minimum $50 monthly deposit, so you would have $55 to play with provided you put $50 in that month. Other casinos offer percentage reload bonuses. For instance, you get 10% if you make monthly deposits of at least $100. So you could deposit $100 per month and have $110 to play.
Welcome package:
You might see a casino offer a welcome package that includes an unbelievable amount of free spins and bonus funds. For example, a casino might offer a welcome package worth $3000 with 250 free spins, but this offer might be spread across between 3 and 5 deposits.
These kinds of offers may seem too good to be true, or too confusing to bother with. It’s important to read the terms and conditions and find out exactly what you are getting from each deposit, otherwise you could end up disappointed.
Now you know what all of the jargon in casino welcome bonuses actually means. Now you are ready to have some fun choosing offers that suit you.