No matter which traditional online casino you visit or join, the crown jewel remains the welcome package. While no-deposit bonuses are rare treats, the truth is that only a handful of them support a no-deposit bonus. However, all the top real money online casinos offer a super generous welcome bonus. For years, the undisputed welcome bonus was the deposit match bonus. However, in recent years, they adopted second-chance welcome bonuses.
What exactly are these two exceptional welcome packages, and of course, which one is better? Don’t worry. This guide takes you all the way through these epic welcome bonuses.
What Is a Welcome Bonus?
A welcome bonus is the first bonus and usually the most inviting. The main point is to make it hard for prospective online casino players to join the iGaming brand. While not free, like no-deposit bonuses, a welcome bonus gives players bonus funds to add to their bankroll so they can play their favorite casino games either for free or at an incredible discount. Of course, new online casino players can win real money.
What Is a Deposit Match Bonus?
A deposit match bonus is the primary and signature welcome bonus for most online casinos for real money. After making the first minimum deposit, which is around $25 but can be lower, that member is immediately given bonus funds. Most deposit match bonuses take a member’s first deposit and match it by 100%. The usual maximum for most deposit bonuses is $1,000. However, some online casinos might offer a lower amount.
Some advantages of the deposit match bonus:
- Generous amounts of bonus money
- Can freely play the majority of the casino games
- Can win real money
Depending on the online casino, they might offer an extended deposit match bonus that can go to the second, third, or even the fourth deposit. In this scenario, the deposit match usually drops below 100% to around 50% for the other deposit bonuses.
Of course, with the additional bankroll, new members, even if they have the fortune of having a no-deposit, can continue winning real money for a low deposit. The deposit match bonus gives new members the bonus money upfront, so they can immediately factor it into their betting plans.
Deposit match bonuses usually apply to most casino games, which is a huge plus for new players or for those struggling with budgeting or with problem gaming. It also allows them to experiment with multiple online casinos to see which one they prefer better. For the online casino, with so many more bonus funds, a new player is likely to make bigger and bolder bets. Because of the house edge, the online casino stands to get that money back over time.
While playing most of the games are great to develop a sound betting strategy, most deposit bonuses don’t apply to jackpot games or live dealer games. There might also be some slot game exceptions if it favors an incredibly high RTP. Depending on the online casino, there might also be separate free spins as part of the deposit match bonus.
However, not everything is always peaches and cream with deposit match bonuses. In addition to the game limitations, the wagering requirements are usually high. A great wagering requirement is 10x. However, on average, it is somewhere between 15x and 30x.
What Is a Second-Chance Bonus?
To spice things up, many online casinos are offering second-chance credits as part of the main welcome package. While new members must still make a deposit, they don’t receive the bonus funds upfront. Instead, on their first day, they must make deposits and bet as normal. However, to encourage them to keep playing, if the first-day results in net losses, the second-chance credits kick in.
Some key benefits of second-chance credits include:
- Helps to recover from initial losses
- Forces the player to use betting strategies
- Keeps them engaged
While having all the bonus money upfront is excellent, the truth is that it’s possible to lose all of the funds. Depending on how fast the money goes, new members might become shy about making more deposits to keep playing. So, having some funds, maybe not all that you lost, but at least somewhere between $50 to $100, can help new players get back on the saddle. As an added incentive, most second-chance credits have tremendously low wagering requirements, sometimes as low as 1x.
Bottom Line: Which Offers the Best Value?
For those who won’t go long-term with the online casino, perhaps the second-chance credits are the best route. By helping to recover from losses, it works to keep player confidence up and makes that member more likely to continue making long-term deposits. For those looking to sample the online casino and make a quick buck, the deposit bonus might be the way to go.
