What Are Deposit Bonuses and How to Use Them

We can’t think of many digital marketing campaigns, strategies or tools as effective as free bet offers in casino gaming. While they might not be the only factor resulting in explosive growth in the industry, they’re by far the most impactful way of attracting new customers. We’ll summarize what they are and how to use them.

Unless somebody has never accessed an online casino before, we’re sure most gamers have at least heard of this term. Hopefully, we can clear up any misconceptions or terms that might be open to ambiguity in the wide world of deposit bonuses.

Defining a Deposit Bonus

It became apparent quickly in the online gambling timeline that welcome promotions would become one of the tools for sustained growth. Although there are dozens of bonuses, a deposit bonus is arguably the simplest to understand, aside from free spins bonuses. It’s a promotional, supplementary amount, usually paid in betting credits, that allows new customers to the platform to place a few bets, often matching or exceeding the initial deposit – and marketed as a percentage.

So, a 100% deposit bonus of up to $30 means a new bettor can claim up to $30 in free bets as part of the promotion. Sportsbooks and casinos use this strategy, which doesn’t entail convoluted terms or jargon. Usually, what you see is what you get.

But it’s not just these two iGaming stalwarts that implement deposit bonuses into their growth strategy – many alternative payment method casinos are incorporating them in their approach, too. Some providers will use specific payment types to promote their deposit bonuses, such as Apple Pay or PayPal, as one of the qualifying terms. These bonuses are widespread throughout the industry, which speaks volumes about their effectiveness.

No Deposit Bonus Codes

Many gamblers who play at casino platforms or sportsbooks will seek out no deposit codes, and they’re less common than matched deposit bonuses because they’re one of the most cost-effective promotions there is. No deposit bonus codes are exactly what you’d expect, given the name.

Sweepstakes casinos also implement no deposit bonuses, even though gamers accessing the platform do not need to place real-money wagers to play on their site. On signup, sweepstakes no deposit bonuses will pay out the currency equivalent used on their site, usually Gold Coins, but the whole principle is the same – it’s to get people through the digital doors and playing casino games, even if the stakes are lower. Such is the market size that companies such as sweepstakescasinos.net have compiled the best no deposit codes based on these criteria and have ranked them accordingly.

Key Considerations

Although on the face of it, they sound like they’re the best type of promotion, and very often are, there are still some elements to be wary of. As we alluded to in our last section, some no deposit bonuses only apply to specific payment methods. Although many will put this in the main title of any promotion, some will only leave it in the terms and conditions, leaving some gamers feeling short-changed – and to be honest, rightly so.

It’s counterproductive for casinos or sportsbooks to do this from the start, as gamblers will not come back to their site, nor will they have many positive things to say about them on social media or online reviews. It’s not exactly rule 101 of how to run a successful business. Some look to the short term to get people in, rather than the broader customer experience and the long-term growth strategy.

Some of the main terms to become acquainted with are the likes of:

• Max cashout options – the highest amount a player can claim as part of the bonus.
• Expiry dates – how long you have to claim it before it runs out.
• Wagering requirements – usually a multiple of the initial deposit.
• Minimum deposit requirements – smallest deposit eligible to claim bonus.

Thankfully, this is not the industry standard, and more platforms understand that by putting together an effective bonus, there’s a greater chance that the person using the promotion will come back to play games on their site or mobile app.

How to Use Deposit Bonuses

Usually, casino or sportsbook sites will have links or promotional codes littered all over their home page if it’s the first time someone accesses it. That’s not to say deposit bonuses aren’t available to existing customers, either, but new customers are often the target market for this type of bonus and the broader choice of bonuses in general.

You’d have to search far and wide to find a casino or sportsbook that doesn’t offer deposit codes or hasn’t trialed the offer in the past – they’re an essential part of the industry. As they’re the number one route to get people onto their site, new gamers don’t have to go looking for them or jump through hoops to use them. It’s always either a case of them being credited on signup, through a promotional link or a code entered during registration.

Responsible Gambling

Bonuses help people bridge the gap between cost-effective gambling and impactful, broad marketing strategies. However, although they might give casino gamers and sports bettors a bit more mileage from their bets, it’s vital not to lose sight of the fact that safe gambling should be the most crucial element of any gambling strategy – ensuring that effective time and deposit limits are set for any casino gaming or sports betting.

If these limits are exceeded, or gamblers start to view these platforms as a source of income, these red flags signal an issue. There are many support avenues available online that can assist with problem gambling.

Final Thoughts

As the online gambling market soars in popularity and profit, projected to be worth over $180 billion within the next decade, the battleground for bonuses is more intense as ever. It’s vital that those looking to utilize bonuses understand the basic terminology laid out within the T&Cs and learn how to use them.

As we pointed out, they’re not difficult to grasp. However, understanding the minor differences between deposit and no deposit promotions, as well as the types of casinos that use them, whether they champion alternate payment methods or focus on other areas of iGaming, is the sort of intricate knowledge that comes with experience in the sector. Over time, it becomes easier to spot the better bonuses from the subpar offerings.