Online casinos in the Canary Islands are known to offer lucrative bonuses to new and existing players. These bonuses can be accessed for a wide variety of games, whether you prefer playing slots, roulette or poker. So, what are the most common types of bonuses offered by these online casinos?
These are the 9 types of bonuses that most Canary Island online casinos offer punters.
1. Welcome Bonus
As indicated by the name, these bonuses are offered to first-time players when they register with the online casino. A welcome bonus is also called a new player bonus or a sign-up bonus. Betting sites not on Gamstop generally offer the most rewarding bonuses, given that they operate outside of the UK. These sites are licensed in the likes of Malta and Gibraltar, so they don’t need to abide by UKGC (UK Gambling Commission) rules. This allows them to offer bigger bonuses and accept players who have signed up for the Gamstop scheme.
A welcome bonus usually matches 100% of a player’s first deposit, up to a specific amount.
For example, if a player signs up for a site, the platform will reveal that it offers a welcome bonus of 100% up to a deposit amount of £100. That means, if you start playing and deposit £100, the platform will award you £100 too, giving you £200 to start playing with.
Not all welcome bonuses match 100% of the first deposit, though. Some offer only 50%, while others offer as much as 200%.
It is recommended that a player carefully reads the terms and conditions surrounding the bonus, especially if it is over 100% since it might come with restrictions once the player wants to withdraw their bonus amount.
2. No Deposit Bonus
A no deposit bonus is awarded to players without them having to deposit any of their own money. This is a common bonus with newly launched online casinos in an attempt to attract users.
This bonus amount allows users to start playing online without having to wager any of their own money. However, it often comes with specific rules, for example, you can only withdraw the funds when you do deposit your own funds.
These bonuses are also only applicable to games with a high house edge, like slots. Low house edge games like blackjack are often excluded.
3. Monthly Bonus
Monthly bonuses, also called loyalty bonuses, are paid each month to loyal users of the platform. It functions as an encouragement to keep the players coming back each month.
The value of the bonus, as well as the player’s eligibility, depends on their gambling activity the previous month.
Monthly bonuses are never too high as online casinos often have thousands of loyal players who will be eligible to receive this bonus.
4. Reloading/Deposit Bonus
This is also a type of loyalty bonus, where frequent players are rewarded for making deposits. The bonus is received as a percentage of the deposit. Sometimes there are some odd rules related to a reloading bonus, like you will only receive the bonus if you deposit funds on a specific day of the week.
The value of the bonus will be determined by your gaming activity and your deposit amount and frequency.
5. Payment Method Bonus
When depositing funds to your account, you will have various payment methods to choose from. This can be via credit card, EFT (Electronic Fund Transfer), or adding cryptocurrency from a digital wallet. The type of payment method you select can impact how long the transaction takes, which can range from instant to several working days.
Often, online casinos want to push players to select a specific payment method and will offer a bonus to those who opt for that method. That is because different payment methods come with different transaction fees. Casinos will push players to select a method that offers the casino a cost advantage.
The preferred choice by casinos is most commonly using e-wallets. For example, you may receive a 10% bonus on your deposit if you opt to deposit crypto.
6. Referral Bonus
Many casinos in the Canary Islands will thank existing players for recommending friends to the sight. A referral bonus is either a fixed amount, e.g. £20 for each new friend who signs up, or a percentage of your friend’s first deposit amount.
Referral bonuses often have restrictions, like a friend has to remain signed up for a certain amount of time or deposit a minimum amount of money before the referring player can withdraw the bonus.
7. VIP Bonus
Also called a high roller bonus, the VIP bonus exists to encourage players to spend more and play more often. Those who make larger deposits will receive this type of bonus.
As part of the bonus, these high rollers may also receive tickets to entertainment events or gift cards to hotels and restaurants. The details of the perks will depend on the player’s habits.
8. Cashback Bonus
Cashback bonuses see players receiving a percentage of their loss back, to thank them for playing. It means that the player gets to keep a portion of what they would’ve lost. This bonus serves to retain players, even when they have a bad day at the slots.
9. Free Spins
Lastly, there are the free spins. Players often have to meet specific requirements to receive bonus spins, but new players are often also awarded this bonus. Most commonly this bonus allows players to spin the reels on slot machines for free, without having to wager any money, however, there are different types of free spins available.
Wrapping Up
Casino bonuses may seem like free money to the players, but they also benefit the online casinos as they attract and retain loyal players. This partially explains why the global gambling market reached an estimated $773.7 Billion in 2023. These bonuses often come with restrictions, like deposit amounts or gaming habits, so it is important to always read the attached terms and conditions to make the most of the bonus awarded.
Gamble Responsibly: Gambling should be enjoyed as a form of entertainment, not a way to earn money. Always gamble within your financial means and set limits to stay in control. You must be 18 or older to participate in gambling activities. If you or someone you know has a gambling problem, seek help from organisations like FEJAR (Federación Española de Jugadores de Azar Rehabilitados) at www.fejar.org. Stay safe and gamble responsibly.
