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Online casino bonuses and promotional offers are a sure way to entice players to register and play for real money. Let’s explore the many benefits of online casino bonuses.
The online gambling market has grown tremendously in recent years. The compound annual growth rate (CAGR) between 2019 and 2024 is expected to be 8.77% (Mordor Intelligence). The largest market is Europe, but the fastest-growing market in North America. During this forecast period, online gambling is growing at a steady clip, and the number of female players at casinos is increasing sharply. The 2018 decision by the Supreme Court of the United States (SCOTUS) to overturn the PASPA ruling of 1993 had far-reaching implications for the industry and is likely to spur accelerated growth in the gambling market. Within the online gambling industry, online betting leads, with football betting, horseracing, and E-Sports making up the bulk of gambling activity. Yet despite these trends, areas of low online gambling growth include North America, Central America, South America, Africa, and the Middle East. Medium-sized markets include Asia and Australasia, and the heaviest concentration of online gambling in Europe and Russia.
Global gross gambling revenue hit €45.2 billion in 2018, or $51.96 billion. Online gambling technology has gone mainstream, with the advent of the low-cost Internet, coupled with the rapid and unprecedented growth of mobile gambling devices such as smartphones, tablets, and phablets. In the United Kingdom, for example, the number of younger players (18 – 24 years of age) was reported at 24% in 2016 and rising fast. The growth of mobile online gambling enthusiasts grew 117% between 2012 and 2018, with mobile gambling accounting for 38.4% (2018) of all gambling activity, versus 61.6% for PC-based players. Many additional factors have assisted in the online gaming boom, notably enhanced audio-visual functionality, virtual reality technology, live casino, daily jackpots, blockchain-based technology applications, and bonuses and promotional offers.
Differentiated Product Offerings Through the Online Gambling Industry
The online gambling industry relies heavily on elements such as comfort, convenience, and cost-effectiveness to reel in players. With minimal fixed costs of operations (compared to land-based casinos), online casinos can afford to offer players a better deal in the form of higher RTPs (return to player percentages) on casino games, and more enticing offers in the form of bonuses and promotions. Given the abundance of online casino operators vying for the same customers, one of the few ways that these casinos can differentiate their products from the competition is promotional offers. In this vein, there are many different types of bonuses and promotions available to players, not least of which is the welcome bonus offer a.k.a. the registration bonus. Players are privy to an array of bonus offers such as:
- Free Spin Offers
- Daily Deals Offers
- No Deposit Bonuses
- Exclusive Promotions
- Multi-Deposit Bonuses
- Match Deposit Bonuses
Such is the importance of casino bonuses like these listed here and promotional offers, that this category of enticements has driven sharp growth in the online gambling industry over the past decade. While land-based casinos offer players club membership cards where special perks and rewards are available, these oftentimes pale in comparison to the generous welcome bonus packages offered through reputable online casinos.
Online gambling companies typically place a wagering requirement, otherwise known as a playthrough requirement, on the bonuses that are provided to players. These range from 30 – 60 X the deposit or Bonus amount, depending on the online gambling operator. If an online casino offers players a 100% match bonus up to £200, subject to T&C, this means that players can deposit £200 and play with £200 extra in bonus cash. It is important to scroll through all of the available casino promotions to ensure that you are selecting the one that best meets your claim preferences.
Different Types of Promotional Offers Available to Online Casino Players
Many promotional offers are subject to certain provisions such as geographic restrictions, non-acceptance of other promotional offers, and the like. As such, it is incumbent upon players to comply with all necessary terms and conditions to ensure that the bonus is cleared and that winnings afforded through the bonus are available for withdrawal purposes. Given the sheer number of promotional offers available to players, it is important to carefully pick the right bonus to derive maximum yield.
Bonuses are designed to stretch your stash of cash so that you can play more of the games you enjoy with less burden on your bankroll. Without playthrough requirements in place, players would simply withdraw their bonuses, or winnings from their accounts, and online casinos would go bankrupt in the process. Nowadays, games contribute differently towards meeting the playthrough requirements, with slot machine games typically accounting for 100% of all wagers made, and games like blackjack making up a negligible amount.
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