History of Deposit Bonuses
The explosion of online gambling over the last 25 years has caused a culture shock worldwide and has given bettors opportunities that have never been seen until now. However, slots, blackjack tables, and poker rooms require bankroll, which can get expensive; casinos quickly learned that if they helped players build fat bankrolls, they could play more often and for extended periods. With that, the creation of the welcome bonus followed and began a massive shift in the gambling industry that still resonates today.
This Story Still Starts In Las Vegas
In the early days, the low number of online casinos available to gamblers kept platforms from needing promotions to draw in players. The first promotions at online casinos mirrored the VIP and comp points programs used at establishments in Las Vegas and around the world. As the number of online betting establishments grew and the industry became more competitive, casinos realized that big bankrolls kept the reels spinning, and the welcome bonus was born.
Bonus Abuse Creates Restrictions
Now that casinos had welcome bonuses, it became a race to see who could offer the most free money with the first deposit. As the welcome bonuses grew, players took notice, and unfortunately, not all players are ethical, and promo abuse became an issue for many casinos. The answer to the misuse of welcome bonus funds was ultimately playthrough requirements and maximum cashout restrictions; players now had "stay and play" instead of "cash and dash" when they hit a big winner with bonus funds, giving the casino a chance to win back the cash.
What Happens After The Welcome Bonus Is Gone?
The second problem casinos faced with welcome bonuses was player retention; once the welcome bonus had been played and lost, it made more sense for players to find a new casino and a new welcome bonus. First came reload bonuses; these are smaller than welcome promotions, but they usually come with lowered or no playthrough requirements or cashout restrictions. No deposit bonuses are exactly how they sound; no deposit is required, but they come with much heavier conditions than promos that require a deposit.
Free Spins Can Make A Profitable Bonus
Casinos have been using free spins to get players in their virtual front door almost as long as they have welcome bonuses. Early on, free spins added to an already giant-sized welcome bonus became the norm, and while bonus bankroll amounts have gotten smaller, it is still possible to score large numbers of free spins in welcome promos at some online establishments. Recently, some casinos have begun to offer free spins, sometimes on specific titles, with only a small deposit, some as low as $20, required.
Crypto Bonuses of Today and Tomorrow
The influx of crypto casinos and online establishments accepting crypto has made way for bonuses that are specifically for bettors who use those payment methods. Casinos use a business plan that allows them to hold crypto when the price is low and sell when the price is high, giving them the option of providing crypto users promos with higher thresholds and fewer restrictions than other payment methods. Better promotions are one benefit to crypto that many players do not know about, and understanding can help players make better payment choices.
Bonus Promotions Keep Online Gambling Affordable
It's evident that welcome bonuses and all casino promos, in general, had a significant part in making the industry what it is today. Making and keeping the hobby obtainable to those who may not be in a higher tax bracket has grown it to its current size. As the number of people involved in the industry grows, the promotions departments at casinos will find ways to make their bankrolls bigger.