What Is a Casino Welcome Bonus?
A welcome bonus at an online casino, also named a sign-up or a first deposit bonus, is a promotional offer with the aim of motivating new players to join. It is, too, a casino's way of welcoming you and celebrating your becoming a member.
Speaking of casino bonuses, welcome bonuses have become a standard in online casinos. Opening an account at a casino site without receiving a welcome bonus is practically unheard of in today's online gaming market. However, players can still bypass a welcome bonus and deposit without claiming one.
How to Sign Up for Welcome Bonuses
It’s not uncommon for players to pick a new casino based on the best welcome bonus. To receive the welcome bonus at the casino you must create an account and make your first deposit. Bonus funds will be credited to your account and you can start using them.
Some gambling sites require you to verify your account first, before you start playing, but the majority ask for KYC documents when you request your first withdrawal.
Also, there are differences between welcome bonuses. The majority of welcome offers are actually welcome packages, which means that you will receive bonus funds in the first few deposits (usually up to 5). On the other hand, casinos can create no deposit bonuses and offer them as welcome deals, in which case you don’t have to deposit to start playing, but more on that later.
The Most Popular Types of Welcome Bonuses
Welcome bonuses come in different shapes and forms. Usually, it’s a combination of matching bonuses and Free Spins, but there are no rules. Whatever casinos think can increase their registration metrics works, which is why we’ve broken down some of the most popular forms of welcome deals.
Match Deposit Bonuses
Casinos match a percentage of your real money with bonus funds and therefore the name match deposit bonuses. The percentage is determined by casinos, but for welcome offers, it’s rarely lower than 100%.
They usually limit the amount of funds you can deposit and receive. For example, the casino can provide you a 100% match deposit bonus for deposits up to €200. So, if you deposit over €200, you’ll still receive €200, which is the maximum amount you can get upon registration.
Free Spin Bonuses
Free Spins are common in welcome packages, but they can also be found as a standalone welcome bonus. Players usually get a limited number of Free Spins they can use on a specific slot.
Free Spins come with wagering requirements, maximum cashout limit and other restrictions you must be aware of before you register and make your first deposit.
No Deposit Bonuses
Bonuses that don't require a deposit are called no deposit bonuses. This one is entirely free, so there's no need to pony up any cash upfront. Ensure to read the fine print before claiming this incentive since there are bound to be connected constraints.
No deposit bonuses are great because they attract a large number of players, since they can check out the casino without committing their money.
Cashable and Non-Cashable Welcome Bonus
Cashable bonuses and non-cashable bonuses are two subtypes of casino welcome bonuses and it’s another distinction we have to make. Below, you can read all the differences between the two and see which ones are more suited to your playstyle.
Cashable Welcome Bonuses
If you meet all the terms and conditions, you can fully withdraw your casino bonus along with any winnings. These are called cashable bonuses, and they’re the most popular among players.
For example, if you receive a 100% bonus up to €200, and complete the required wagering, you can withdraw both the bonus and any profits earned with it. Key features of cashable bonuses are listed below:
- No maximum withdrawal limit (in most cases)
- Bonus amount contributes to wagering requirements
- Lower wagering conditions compared to sticky bonuses
- Both the bonus and your winnings can be cashed out
Non-Cashable Welcome Bonuses
Non-cashable bonuses (also known as sticky bonuses) let you use bonus money to play games and keep any winnings but you can't withdraw the bonus funds itself.
For example, if you receive a €200 bonus and win €100, you’ll only be able to withdraw the €100 in winnings and not the full €300. Even while these bonuses appear to provide you less in return, it is convenient not having to meet rigorous wagering requirements.
The main characteristics of non-cashable welcome bonuses are:
- The bonus amount cannot be withdrawn ("sticky" – stays with the casino)
- Often larger than cashable bonuses
- May have higher playthrough requirements
- Only winnings can be withdrawn
- Only used to increase your playing bankroll
Pros and Cons of Welcome Bonuses
Although welcome bonuses sound like a win-win for both players and casinos, like any other offers, welcome deals have their pros and cons, which are listed below.
Pros:
- Increased bankroll
- Risk-free (for no deposit bonuses)
- Try out at the casino
Cons:
- Game and other restrictions
- Wagering requirements
Keep in mind that these are general pros and cons of welcome offers. With thousands of casino welcome bonuses available in different casinos, you have to look at individual bonuses and see what works best for you.
💡AskGamblers tip: If the welcome bonus sounds too good to be true, then it probably is.
How to Find the Best Casino First Deposit Bonus
Finding the best casino welcome bonus may be more complicated than it seems. Online casinos can have different offers for different markets, while there are plenty of welcome deals to consider. If you’re struggling to find the best welcome bonus, some of the tips below can help you with the hunt.
Comparing Casino Welcome Bonuses
As you browse through bonuses, you’ll find several deals you like. You can easily compare them and see the wagering requirements, game restrictions, maximum cashout limits and other aspects of the bonus.
Reviewing Bonus Terms and Conditions
Reading the Terms and Conditions for each bonus is essential. Casinos highlight the most attractive aspects of the bonus first, but reading the fine print gives you the main idea of what you can expect.
Welcome Bonus Wagering Requirements
One of the most important aspects of any welcome bonus is wagering requirements. This means that you have to wager through bonus or deposit funds the set amount of times before you can cash out. Wagering requirements usually range between 20x and 40x, but you can find higher or lower requirements.
Welcome Bonus Cash Out
Cashing out winnings from the welcome bonus is the process of withdrawing money from the casino. To withdraw money from the casino means that you have to meet the wagering requirements first and play through the bonus.
If you request a withdrawal without playing through the bonus, the casino will reject your withdrawal request. Other than meeting the wagering requirements, you should be aware of the maximum withdrawal limit, which is often introduced in welcome bonuses. This means that you won’t be able to withdraw more than the specified amount when you play with bonus funds.
Common Payment and Deposit Methods for Welcome Bonuses
Before you claim a welcome bonus, you need to check which payment methods are offered in the casino providing the bonus. In our casino reviews, we specify every payment method used, but also provide additional information such as withdrawal times, limits, processing and fees for every casino that offers a welcome deal.
Some of the most common payment methods you can find are:
- Credit and debit cards
- E-wallets (Neteller, Skrill, Trustly, etc.)
- Cryptocurrencies (Bitcoin, Litecoin, Ethereum, Tether, etc.)
- Other options (Pay by phone, QR code scan, etc.)
Once you confirm that the payment option you’re using is available for deposits and withdrawals, you can proceed with the registration process. There are some welcome bonus offers tied to a specific payment method or a currency, for example, crypto.
Interesting Facts and Statistics About Welcome Bonuses
Welcome bonuses are an essential part of a casino journey for every player, as you can see from five fun facts and statistics below:
- 68% of players choose a casino based on a welcome bonus
- 87% of new players claim a bonus upon their first registration
- Free Spins are the most common form of welcome bonuses
- Average wagering requirements for welcome bonuses range from 30x to 40x
- 41% of players don’t claim welcome offers with complicated Terms and Conditions
