In this guide, we explore 4 reasons to consider using a casino bonus. Learn about the array of bonuses available and how you can get free fiat or crypto. You can use EUR, CAD, USD, AUD, RUB, JPY, BTC, BCH, ETH, LTC, DOGE, and USDT to deposit and get an awesome bonus on these currencies in return. You can also use an array of deposit methods such as Coinspaid for cryptos, Neteller, VISA, Mastercard, PaySafeCard, Yandex, Neosurf and more so you can claim your casino bonus deal.
Casino bonuses are essentially incentives to deposit cash and play slots, table games, and other casino gaming options using free spins, free casino chips, or bonus money. They primarily exist so you can play casino games without using your real money balance and have the chance to turn the bonus money into withdrawable cash.
There are also many other reasons why casino bonuses are useful:
- Run through your variance (hot and cold streaks)
- Learn how to play new casino games
1. Give Yourself the Chance to Win Free Cash
Most casino bonuses come with a wagering requirement otherwise the casino might as well be giving away free cash. That would be too easy. Usually, the deal is one whereby you make a deposit and in return, the casino gives you a bonus which could be:
- Cashback on your losses
- Free Spins on video slot games
- Bonus money
- Free casino chips
Sometimes you will receive any of the above bonuses without having to make a cash deposit. For example, at mBit casino, you can register your telephone number with us get free spins automatically. This is what is known as a no deposit bonus. All your winnings from those free spins will be paid back as bonus money which will have a wagering requirement attached.
The same applies to our cashback promotional deals and no deposit bonuses. Any free money added to your mBit Casino balance will need to be played through using the attached wagering requirement. These wagering requirements give you the chance to turn the bonus cash into real money that can be withdrawn at any time.
If your bonus is worth €10.00, and your wagering requirements are 30x, then you need to place €300.00 worth of bets on casino games for that €10.00 to become available as withdrawable cash. Now, this might sound like a lot, but when you consider most online slots from software developers such as NetEnt have a return to player (RTP) of 96%, you are always in with a chance of hitting a large coin win or spin bet multiplier that will help you get through your wagering requirements.
Games such as blackjack have a house edge of just 0.5%! Although you will need to check how each table game offered is weighted against the wagering requirements. Some table games will only contribute 5%-10% towards the wagering requirements. That said, if you play basic strategy playing blackjack, there is no reason why you cannot get through at least part of the wagering requirements needed to turn the bonus cash into money that can be withdrawn.
Check out the bonus deals available in the mBit Casino promotions page! There are always new deals available for daily, weekly, monthly, and seasonal promotions.
2. Run Through Your Variance
Variance is often overlooked by some casino players or if not overlooked, then maybe misunderstood. When a casino game advertises an RTP of 98%, that does not mean you will be paid back €/$98.00 for every €/$100.00 accumulated from your bets. If you are wondering why then think about your standard coin flip.
A coin flip offers an RTP of 50%, but how often does the coin land ‘heads’ and then ‘tails’ an equal number of times after let’s say 20 or 40 flips. The RTP is the probability that the coin will land 50% of the time on either heads or tails; however, in reality, variance comes into play. You could flip a coin 20 times and it lands on heads 15 times which is not good if you bet on tails as your actual RTP is now 25%.
Things could get worse still and the next 20-coin flips could land on heads another 15 times. Now your RTP has not declined, but your losses have just increased over a long period. This is because your variance at this time is putting you on a cold streak while whoever is betting on heads is on a hot streak.
The very same outcome could happen when playing casino games. Now you can limit your losses when the variance is not working in your favour. One way is to use a strategy. For example, blackjack players use basic strategy to make sure they are still getting 99.5% RTP. Even with basic strategy, the 99.5%-win rate is rarely clear cut.
This is where bonus balances come into to play. If you don’t want to lose your own money while playing casino games, and you have a grasp of how variance works, then you can use the bonus money to place bets on real money casino games to play through a cold streak. Just look for a casino bonus, such as a reload, deposit match, or cashback deal or even free spins.
3. Learn How to Play New Casino Games Or Game Strategy
Although many of the online casino games at mBit Casino have a free play mode for both mobile and desktop players, free play games are not as exhilarating as real money gameplay. If you have already tried the free play version and feel you are ready to test out your new strategy on a new game, then you can always reduce the risks by using bonus money.
With over 3,000 video slot titles available in the mBit slot games section, you might want to test different slots out using the real money version of the game. Alternatively, you may want to try playing games such multi-wheel roulette and test out your strategy as well as feel the game out for how much it pays out and how often – basically testing the game’s variance/volatility.
4. Cashback on Your Losses
We already mentioned cashback deals on your losses in the first section of this guide. One of the best ways to reduce the house edge and win bonus money to then go back to the tables and play through a downswing in volatility is to use bonus cash from cashback deals. The cashback bonus will be paid back in increments as your play through the wagering requirements.
For a long while now, VIP players at mBit are given cashback deals on live dealer games and table games such as blackjack, roulette, and poker.
Frequently Asked Questions (FAQ)
Below, we have compiled a list of frequently asked questions about casino bonus deals and why you should consider using them. We will begin by explaining some of the different bonus deal available and then answer some direct questions in regards to the benefits of taking advantage of these bonuses.
What is a cashback bonus?
Cashback bonuses cover your losses when playing casino games. Most of the time they are used for table games but can also cover video slots. You will get back a percentage of your losses which will be added to your bonus money balance. For example, if your cashback deal is 10%, then every 0.25 mBTC lost, you will get back 0.025 mBTC.
What is a free spins bonus?
Free spins bonuses are given to players specifically for online slot games. Most of the time you will need to play a specific slot or a specific set of slots spinning at the slot game’s minimum spin bet with all pay-lines activated. That said, there are times when mBit will offer free spins to be played on any online slot in the mBit Casino collection. The winnings from your slots play are normally added to your bonus money account but in some cases, the winnings are free of wagering requirements.
What is a deposit match bonus?
Deposit match bonuses are very common. The casino gives you back a percentage of your real money deposit and adds the bonus portion of the deal to your bonus money balance. Deposit matches are usually a percentage of your payment paid back. For instance, a 50% deposit match up to 1 BTC would give you a balance of 1 BTC for real money and 0.5 BTC bonus money.
What is a welcome bonus?
A welcome bonus is an incentive for new players to join the casino. It is the most financially rewarding bonus deal compared to regular bonuses because the offer is usually much more lucrative in terms of size. This is a one-time offer but can sometimes spread across the 1st, 2nd, 3rd, or 4th deposits. Sometimes a welcome bonus will include extras such as free spins.
What is a no deposit casino bonus?
A no deposit bonus means you get free spins, casino chips, or bonus money to play without having to make any financial commitment. The deal will have wagering requirements attached to it most of the time giving you the chance to the free bonus cash into free money.
Why do casinos give away bonus deals?
Casino bonuses are there so players can play real money games without having to use their cash. This is perfect for the reasons given in this guide. You can win free money, practise a new game or strategy, or simply use the bonus cash to get through a bad patch known as an unlucky streak in the casino world. Bonuses are also used to give new players an incentive to join the casino plus VIP bonuses reward loyal casino members by giving away gifts, free spins, and free cash.
Is it safe to use a casino bonus?
If you use mBit Casino bonuses, then you can guarantee your bonus is safe. There are casinos out there that do not honour the wagering requirements or offer huge bonus deals, but the wagering requirements are outrageous. A wagering requirement should never be above 50x and the casino should have good reviews on casino review websites.
Is using a casino bonus recommended?
There are many types of casino bonuses and promotions. Although a casino bonus is effectively a promotion, there are also promo deals like slots races and tournaments, prize drops, and prize draws that make your online casino experience all that much more enjoyable. As for cash bonuses, it is entirely down to what you want to achieve. If you want free bonus money to earn free cash, or to test out new games and strategy as mentioned in this guide, then we recommend casino bonuses.
Which bonuses are the best?
If you are a slots player, then free spins are great but for all casino players that play table games and slots, you will usually get more bonus money from deposit match deals and reload bonuses. Free spins can be rewarding if you hit big wins while playing participating slot titles giving slots targeted bonuses the potential to give you more bonus cash compared to a deposit match or reload offer.
How can I collect a bonus at an online casino?
Go to your online casino’s promotions section and check out the deals on offer. You should also have bonuses available to you displayed in your cashier’s area. Next, when you make a deposit, make sure you select the bonus deal you want to participate in, and the bonus money or spins will be applied to your casino account.