Why Online Casinos Offer Bonuses – Unveiling The Strategy Behind Them
Casino bonuses come in many shapes and sizes. By giving players generous bonuses, casino sites can attract new players and encourage existing ones to keep playing. However, there are several more reasons why online casinos offer bonuses, so keep reading to discover the strategy behind them and why that matters.
The Strategy Behind Online Bonuses
In the competitive world of online gambling, bonuses provide a unique opportunity for operators to stand out from the crowd. While some bonuses are purely available to new customers, others reward players for their loyalty. This article explores the reason behind casino bonuses and how operators use them strategically.
As you may know, online casino bonuses provide extra value for your money. However, bonuses also have several advantages for gambling websites, creating a win/win situation. Remember that checking the terms and conditions is imperative when claiming a bonus, especially when it comes to the playthrough requirements.
Attracting New Players
Simply put, online casinos use welcome bonuses to attract new players. New operators join the market every month, so the best way to reward new players is through generous bonuses. These usually vary from one casino site to the next and are available once you register an account and make your first deposit.
In most instances, online casinos will immediately add the bonus to your account so you can explore the lobby and games. That said, the latest casino bonuses all come with playthrough requirements before you can cash out any winnings. Here are some of the most common welcome bonuses operators use to attract new players:
- Match Bonuses: The online casino typically matches a percentage of your initial deposit. For example, if you qualify for a 100% match bonus and make a first deposit of £50, you will receive £100 in your account to play with.
- No Deposit Bonuses: These do not require an initial deposit, meaning you can play casino games for free and keep what you win. Your winnings are usually credited as a bonus and may have certain wagering requirements that you must clear within a specific time.
- Free Spins: Casinos often award free spins on popular slots for a chance to win some money. The free spins are only available for a limited time and are usually part of your match bonus, while some operators award them without needing an initial deposit.
Fostering Player Loyalty
Another key reason why online casinos offer bonuses is to retain players. Again, the bonuses vary per gambling website and often include entry to a loyalty programme where players earn rewards based on their activity.
Loyalty programmes also have several levels and award points according to how much you deposit and wager. You can redeem your points for cash or accumulate them to unlock other benefits, such as faster withdrawals and special promotions.
For the same reason, online casinos retain high rollers by giving them VIP treatment and exclusive bonuses. VIP players additionally receive higher deposit and withdrawal limits, personalised customer service, and invitations to exclusive events. Of course, high rollers must maintain their VIP status to qualify.
Reactivating Dormant Accounts
Even players with dormant accounts receive regular casino bonuses. These are commonly referred to as reactivation bonuses to try and motivate players to return to the online casino. Players choose to leave a gambling site for various reasons, so reactivating them is often easier said than done.
As a result, gambling websites develop bonuses and promotions that are simply too good to resist. A standard reactivation bonus typically includes some free spins or free cash without a deposit, giving inactive players a chance to start playing again without taking any unnecessary financial risks.
Promoting New Games
Casino operators release new games virtually every month. However, promoting new games can be a challenge. While most players are excited to explore a new game, others require more encouragement – especially when the game does not initially appeal to them. That’s why online casinos offer bonuses to create interest.
Bonuses with free spins are a common tactic used by all casinos online to promote new games. The value of the free spins will depend on the online casino of your choice, so be sure to shop around before you start playing.
Improving Player Engagement and Retention
It’s not uncommon to visit a gambling website and find several recurring promotions ready and waiting. Reload bonuses are perhaps the most common example and allow you to top up your balance any day of the week. These promotions are designed to keep you engaged while also providing more bang for your buck.
Another example is tournaments and competitions. These provide a chance to go head-to-head with fellow players to earn points, climb the leaderboard, and win some prizes. Tournaments also create a social environment and allow casino platforms to introduce players to less popular games.
Mitigating Losses for Players
Cashback rewards are a popular way for online casinos to minimise your losses. Most operators give a portion of your losses back as a bonus, which is added automatically to your account and typically does not have any wagering requirements. Cashback rewards essentially provide some consolation for your losses and, more importantly, allow you to keep playing.
In addition to returning a portion of your losses, cashback rewards have several psychological benefits. For example, losing money can often leave you feeling defeated. To alleviate some of this disappointment, online casinos with the best cashback bonuses can provide you with a sense of accomplishment, all while making your experience more enjoyable.
Bonuses as a Marketing Tool
Bonuses are some of the most successful marketing tools online casinos use to get your attention. However, operators are finding it harder to attract and retain players. That is why operators have different online casino bonus strategies, targeting specific audiences, such as first-time players, to try and gain a competitive advantage.
It also means that operators use special events, such as Halloween and St. Patrick’s Day, to cater to all players and their interests. These events are often employed as themes to advertise special bonuses across several popular channels for maximum visibility, including newsletters, social media, and direct messages.
Conclusion
As you can see, the strategy behind online bonuses varies, the most obvious being to attract and retain players and to give you extra funds to keep playing. Of course, bonuses are also there to enhance your gambling experience, so shop around for promotions that cater to your preferences. You can comment with your thoughts and even share this article with friends interested in this topic. Also, check out our blog for related articles and other useful guides.