Introduction
Bonus codes and welcome promotions are pivotal in online gambling; they’re the beating heart of the industry. Even with new markets creating stiffer competition, bigger audiences and more payment methods opening up the markets to new potential customer bases, bonus codes reign supreme as the number one marketing tool.
Casino and sports betting companies use industry-standard promotions to get new clientele on board, but if you’re somebody who may not be privy to the intricacies of how they work, today we’re going to fire through a few tips to understand how they work, why they’ve proved to be such a success in the industry, and some of the terms and conditions to get accustomed to so that you’re able to utilise them effectively.
Why do online gambling companies use bonus codes?
Because they’re a way to get people to their site and offer new customers the chance to place bets on the platform without putting down much of their own money. Now, there are different types of welcome promotions, many of which require some form of initial deposit, but we’ll explain that in more detail.
Gambling companies use bonus codes to put themselves in the shop window as an advertising strategy – it’s that simple.
However, as the number of online casinos continues to swell and global competition increases, casinos and sportsbooks need to think of creative ways to design new bonuses and ensure that they’re a level above their competitors.
This competition has become so fierce that websites such as Bonus Codes have emerged as viable avenues for gamblers to evaluate the quality of promotional codes and find out what experts have to say and how they rank online casinos, based on many key characteristics.
Common bonuses
Although gambling platforms will use various bonuses, with some trying to find niche ways to appeal to all types of bettors, here are the most common ones you’ll come across:
Free spins
The most prevalent type of bonus in casino gaming is free spins bonuses, which appear in many forms. Some are uniquely for slot games, some will be added as part of another bonus, or some sports betting platforms might offer them as part of an initial signup offer.
Some of the more prominent betting platforms, such as Bet365, Betway, William Hill etc, have an all-round gambling platform covering both sports betting and casino gaming, so this is where you’re more likely to see these combined codes.
While free spins are everywhere, our main advice would be to check out things like minimum bet amounts, how many games you can use the free spins bonus on, and the maximum amount you can cash out. Usually, anything with a max cashout of less than £30 and wagering requirements of more than 50x are considered the lower end of the quality scale, according to iGaming experts.
No deposit bonuses
This is probably the easiest one to commit to memory – sign up and verify your details, enter the no-deposit bonus code and you’ll be provided with betting credits as part of your signup.
You don’t need to deposit any of your own funds, and although these bonuses can have a limited set of games you can use them on, as well as a limited max cashout, their whole appeal is that you’re getting a promotion for free.
Deposit bonuses
Aside from free spins, deposit bonuses are the most likely bonus you will come across online. Often marketed as a percentage, such as a 200% matched deposit of up to £10 or £20, these bonuses are often among the most successful strategies that gambling platforms use to get new clientele using their site.
Other bonuses to look out for
These are the three most common in today’s market, but some of the others you may encounter include VIP bonuses, which are reserved for the top 1% of players with big bankrolls. There are also refer-a-friend bonuses, where you and the person you referred will receive betting credits when their signup is successful. These bonuses are often deployed as a social media marketing tool.
A glossary of terms
As the library of online casinos and sports betting platforms continues to grow, new customers can browse the wide range of bonuses and promotions on offer. Many online gamers will shop around, making the most of each bonus as they jump from site to site.
However, we’d say the primary thing to remember about bonuses is the terms and conditions and the terminology within them; they’re an integral part of any business, especially the gambling industry, where subpar bonuses will have the devil in the details. Familiarise yourself with these terms in particular:
- Wagering requirements – the amount you need to play through. So, if a bonus has a 50x wagering requirement, you’ll need to wager £500 in total.
- Max cashout – the amount you can withdraw as real money. The industry standard is around £50.
- Expiry date – usually around seven days, but some bonuses can have short windows of 24 or 48 hours.
Final thoughts
Finding your feet in the online casino and sports betting markets can initially seem tricky, especially with the plethora of options at every turn.
Remember the terms in our last section and understand the most common types of bonuses and promotions that platforms use, and you’ll be in good shape as you tackle the market of UK betting bonus codes.
