Deposit Bonus, otherwise known as the Welcome Bonus can be found at pretty much all gambling sites. The number of online games sites out there seems to increase every day. Over the past few years new sites have appeared on the scene at an alarming rate and so competition is fierce. This works in the favor of players in the shape of deposit bonuses.
As gaming sites are keen to attract new members they will usually offer some incentive for you to sign up and deposit cash. These welcome offers frequently involve a deposit bonus, where you deposit a certain amount of cash and receive a bonus relative to the amount you’ve put down.
What is a deposit bonus?
Often deposit bonuses will be advertised as a percentage. For example, a 200% bonus means that if you deposit £10, you’ll be given £20 extra so will have £30 to play with. Alternatively, you may be presented with as a monetary value, such as an offer stating ‘Deposit £10, play with £30’, which amounts to the same thing.
Some sites reward loyalty with deposit bonuses on second and third deposits. You’ll usually find these amounts are less than the welcome bonus but they are still worthwhile. It’s also with keeping an eye our for ongoing deposit bonus offers where any deposit made qualifies for a bonus, often around 10%.
Most online gaming sites will operate an upper limit on the amount of free cash they will give away on bonuses. This can range from under £50 up to £500 or even more depending on how big the site is.
Check out the wagering requirements
However, as with everything that comes for free, there is a catch. Almost all companies will have wagering requirements as part of their terms and conditions. Each site’s requirements will be different but generally you need to play through a certain amount of money before you can withdraw any winnings made via your bonus or the deposit associated with it. You should expect to have to play through 10-40 times your bonus before you can withdraw winnings.
While this may at first seem like a lot there is a very good reason why sites operate these rules. If they didn’t people would just play their deposit and bonus, immediately withdraw their winnings and move onto a new site to claim another welcome bonus. This way sites know that players will be loyal at least until they’ve met their wagering requirements. Any site not using wagering requirements would soon find itself out of business!
If you’d prefer not to be committed to one site through a wagering requirement then most sites give players the option not to claim their bonus. This means you are free to withdraw funds at any time but you won’t get the extra free play. Most people do take advantage of deposit bonuses as they usually offer good value for money. You just need to read the terms and conditions of any site you sign up to so you can be clear on how much money you’ll have to play through before you can make a withdrawal.