Online casino bonuses are just as profitable to online casinos as their players. Most online casinos employ various marketing tactics to attract new customers and keep the existing ones interested.
Bonuses and promotions are some of the most exciting ones. Every casino lover wants the opportunity to stretch their bankroll as far as they can.
Many players will try to use a bonus or promotion without understanding its rules or the terms and conditions. While you can profit from online casino bonuses, the casino isn’t making losses either. Here are a few ways that online casinos can use bonuses to their advantage:
Bonuses are the Online Equivalent of Casino Comps
Online casinos offer signup bonuses since customers are used to freebies. These signup bonuses have existed in the casino industry for a long time. If you have been to a traditional land-based casino, you may understand how earning comps works.
A comp can range from a free drink to a fortnight’s vacation in a dream destination. In most cases, comps are based on the length of your gaming session, the size of your losses, and the value of your business to the online casino.
Unlike traditional casino establishments, online casinos cannot offer you a glass of wine or any other comp. Instead, you will receive top online casino bonuses and other incentives. To understand why casinos provide bonuses and other freebies, you should understand the psychology behind the offers.
According to psychology, the ability to rationalize is among humans’ most powerful defense mechanisms. It is the most powerful antidote against cognitive dissonance. When you lose money in an online casino, your instinct might tell you to stop playing.
However, rationalization sets in once you receive a bonus offer from the casino. The fact that you are receiving free stuff helps you justify your betting losses. The bonus offer favors the online casino by convincing you to play longer than intended.
Bonuses Make Great Copy
Online gaming platforms use bonuses since offering customers free cash makes them look good on paper. It can be challenging to stay rational when you see the huge bonus offers on some online casinos. These platforms appeal to the part of your brain that yearns for a big win.
When reading casino reviews, you might see a section indicating a welcome bonus of up to $5. However, $5 may seem small when you are used to seeing offers of up to $1000. In most cases, you will be tempted to go for the $1000 prize rather than its $5 counterpart.
When you weigh the $5 and $1000 offers, you will most likely forget that you will probably not win that much. Most online casino bonuses have wagering requirements that you need to fulfill.
However, this is not limited to reviews. Online casinos find it easier to run ads showing a massive payday than a smaller and more attainable one. These bonuses help online casinos stay ahead of rival gaming platforms.
Bonuses are Great Marketing Tools
Online casinos offer bonuses and other incentives because many people fall for them. Today, online gamers expect a freebie from their online gaming service provider.
However, online casino sites don’t utilize these bonuses to meet expectations or glamorous advertising. The gaming platforms do it because players have to spend real money on the casino’s games when chasing these offers. This marketing strategy gives players a reason to continue playing more than they intended.
Some casinos offer large bonuses to attract more customers. They may combine multiple deposit matches to create larger prize amounts in some cases. Potential customers consider these figures when comparing casinos. The bonuses also encourage customers to engage in activities profitable to the casino.
Setting Withdrawal Limits in Place
Online casinos try to cut down on losses that result from bonuses and give away by setting withdrawal limits for their customers. Often, fixed limits determine the maximum amount that the customer can withdraw. The withdrawal limit can vary significantly depending on the casino, the bonus type, and the customer status, such as VIP or regular.
Choosing a casino that offers reasonable or no limits can be extremely helpful. As a general rule, no deposit bonuses tend to have the lowest withdrawal limits, with first deposit bonuses having higher withdrawal limits and, even at times, no limits at all.
Online casinos have betting limits to minimize the chances of players winning big. The limits determine the games and bets players can play since winning a lot of money is possible even when playing with a small bonus.
Nonetheless, many online casinos have a great selection of high-quality games. You can be sure to find the right game suitable for you, ranging from video slots to table games. Although you can use your casino bonus to play table games, you cannot play high stake games as it can lead to high winnings. Online casinos tend to have low bonus limits to prevent players from placing certain bets.
Using Game Weighting
Game weighting directly affects the wager requirements for the player. It determines how much money is directed towards fulfilling play through playing the different casino games. The contribution can vary depending on the type of game. The rules are specifically designed to ensure the casino has the upper hand over the players.
Video slot games contribute about 100%, with table games contributing about 5-20%. The set-up ensures the online casinos minimize the losses that result from bonuses, as table games can lead to increased player profits.
Setting Validity Periods for the Bonuses
Every online casino has a validity period for its promotions and bonuses. It is highly effective in ensuring players have to use their bonuses within a certain time frame. Players may fail to meet all the terms within the stated period if the casino has a short validity and term fulfillment period.
There is a fixed validity period for using the bonus and even a time frame for meeting all the wager requirements. Most no deposit bonuses are valid for about 1-7 days, while deposit-based bonuses can be valid for 30-45 days. You may also be required to fulfill the wager requirements in 30-90 days, failure to which may lead to losing your bonus.