Beyond any doubt, online casino gaming is a popular favorite among many players today for several reasons. These include winning potential as well as the fun it provides. However, what keeps players coming back for more is the promise of amazing casino bonus offers.
Bonuses are what online casinos throw very often into the mix to keep players hooked and carrying on with their adventure. Casino bonuses have been around for a very long time and have adapted to different forms as time went on. Let’s get right into everything you should know about them.
Where Does the Word “Bonus” Come From?
The origin of the word “bonus” has been traced far back in history and means a good thing. It was gotten from the Latin word “bonus” or, as some research says, “bonum” which directly translates as “good.” The word bonus was first popularized among companies and shareholders and was used to refer to the extra dividend paid to shareholders from surplus profits in a company season.
Bonus can also be said to be an addition to something that is expected or due. This is why it is most often used in the corporate setting with terms like salary bonus, sales bonus, and more. Basically, it references payments for those with a good performance and encouragement to others.
What Is a Bonus?
As earlier said, a bonus is any financial compensation added to a normal payment. This means anyone who receives a bonus, gets extra financial compensation without extra work. It is most frequently a reward for performance or work done. The meaning of bonus can be defined based on the specific circumstances, although they all primarily mean the same thing.
Casinos offer bonuses to new and long-time players, as well as others meeting some conditions. On the other hand, companies traditionally offer bonuses to exceptional workers or sometimes on an employee-wide scale to get rid of any form of envy.
The bottom line is that bonuses are incentives given to a certain group of people to reward their performances and also improve retention. It is applied in several sectors of the economy for different reasons.
What Is a Casino Bonus?
A casino bonus is one that is offered to players during casino games. They come in different forms including conventional match bonuses, free spins, loyalty bonuses, and more. Initially, these used to be the only kind offered in casino games until the online market blew open, forcing the hands of casinos due to more competition. Today, there are multi-tier match bonuses that have evolved into no deposit cash bonuses, no deposit free spins, and totally free play bonuses.
To date, casinos are coming up with new bonuses as the market is constantly changing due to competition and the regulatory standards that they have to meet.
A Lesson in the History of the Casino Bonus
In the early days of online casinos, there wasn’t much competition and little or no incentives for the two major sites back then to offer bonuses. However, after the invention of smartphones and superfast internet, the industry grew rapidly, giving room for competitors to join in the game and grab their fair share of customers. This led to online casinos trying to outdo each other by offering mouth-watering incentives to players coming on board.
The first-ever major bonus offer that hit the market was a welcome or sign-up bonus that virtually all players enjoy to date. The bonus for players signing up acted as an incentive for more new players to come on board and try the online casino to satisfy their gaming desire. Bonuses have actually existed since the 90s and 2000s, a period in which they were more generous to players due to high competition and fewer regulations. Today, regulations have put a curb on how far casinos can go as well as made them more transparent, putting the power of information in the hands of players before signing up.
Some of the factors that affected how bonuses are given include:
- Rules and regulations;
- A high amount of competition;
- Bonus abuse;
- The ever-increasing number of players.
Although welcome bonuses used to be very easy to access, now casinos are moving away from them. Players are now required to place a certain number of bets or wager amounts before they receive a bonus. For others, they need to meet some conditions before cashing out their winnings after using the bonus to wager. This system gave casinos more control over player bonuses and wins.
Furthermore, the latest rising trends are casinos offering players loyalty and VIP programs. These programs offer players points and other incentives for signing up. From there on, you would start receiving first-hand information on bonuses, offers, and promotions directly to your mail as they are rolled out by the casino. Casinos also run schemes like referral bonuses, where players who invite others with their referral link get extra birthday bonuses for everyone. You also have the deposit bonuses that increase players’ first deposit by a certain percentage.
Many casinos today promise all sorts of bonuses to attract players and at some point, it starts to look ridiculous. To be certain which is legit, only play with registered online casinos with good player reviews.