In this article, I’ll show you the ins and outs of online gambling bonus offers. There are several different types of bonuses and each one carries its own degree of risk and reward. But before I get into the different types of bonuses I want to discuss a very basic rule that all potential online gamblers need to know.
The Platinum Rule of Bonus Education (PROBE)
Before you go after the best gambling bonuses you need to understand what I call the Platinum Rule of Bonus Education or PROBE for short. PROBE says,
Online gamblers should always be aware of each gambling site’s Terms and Conditions.
If you’ve ever looked at anyone’s T&Cs, you know that they contain a bunch of legal mumbo-jumbo.
The good news is that you don’t need to run out and get a law degree just to gamble online. You just need to be aware of each site’s bonus requirements. What you’re looking for in a site’s T&Cs are the guidelines for receiving and cashing out bonuses.
You can use “ctrl-F” (to pull up the “Find” tool) and then search for “bonus”. Look for details such as the Wagering Requirement (WR) and other text about cashing out. The wagering requirement is something like 10xBonus. Meaning for a $500 bonus you need to wager $5,000 before cashing out.
Online gambling sites (especially online casinos and bingo sites) change their T&C’s on a regular basis because of people abusing bonuses. And while I plan on keeping all my online gambling recommendations up-to-date, you should make it a habit to check the site’s terms and conditions.
Types of online gambling bonuses
Cashable – This is the best type of gambling bonus offer because once you meet the bonus requirements you are able to cash out your winnings. There is very little risk involved with these. All of the best internet poker rooms have cashable bonuses. With online bingo and online casino sites, some are cashable, and others are what’s known as “sticky” bonuses.
Sticky Type I Bonus (Non-cashable) – A sticky type I bonus is one where you get a nice bonus, but you’re unable to cash it out. When you win and decide to cash out, the bonus amount is deducted from your winnings. With these bonuses, you may want to play higher stakes than normal and try to score a big win.
Sticky Type II Bonus (Non-cashable) – A sticky type II bonus is the same as the sticky type I except when you cash out your winnings, the bonus is left in your account to continue gambling. These are fun because you can continue winning without risking your own funds.
No deposit bonuses - Some casinos, bingo sites, and poker rooms lure you with no deposit gambling bonuses. Most sites will only allow you to withdraw winnings once you deposit. These are great for trying out a gambling site for the first time. Also, if you don’t have the bankroll to maximize deposit bonuses, you may wish to start with no deposit offers.
Reload bonuses - These bonuses come from your existing poker, casino, and bingo accounts. They are loyalty bonuses that encourage you to continue to play at their site(s). These are good incentives not to abuse first time bonus offers by immediately cashing out. If you are loyal to your favorite gambling sites, they will reward you with repeated offers for fantastic bonuses.
Do you have any questions or comments about the different types of online gambling bonuses?
Best Gambling Bonus 2008
June 11th, 2008 at 11:20 am
Online gambling rules are simple and once understood, players can begin gambling from the comfort of their home. There are several common online gambling rules that a player needs to follow.