What is a poker bonus?
Poker is a game of complete unpredictability; being both its charm as well as its downfall.
Having been played since the 16th century, poker is a hard game to crack. However, when hearing news of million-pound wins and professional players making a living from simply playing the game, logging on to a poker site and trying your hand at winning just seems like a no-brainer.
While playing poker is a fun form of entertainment, it is important that those using poker sites know the negatives, understanding the downsides to immersing yourself in the fast-paced, ever-changing world of poker.
This is why at Betaid, we take a deeper look into the subject of poker bonuses; something that draws many poker novices into the game in the first place. So, if you are about to register with a site or are thinking a deal you have seen is too good to be true, keep teasing.
As the name suggests, poker bonuses are bonuses given to players to use on poker games. However, the category of poker bonuses in vast, coming in all shapes and sizes. Poker bonuses differ from site to site as well as room to room, with all poker sites taking a different approach to this type of promotion. Below, we look at a few popular options many of the big-name poker providers offer their customers.
It is very common for poker providers to offer poker welcome bonuses in a plea to entice new customers.
Matched welcome bonus - A typical poker welcome bonus would be a 100% matched bonus on your first deposit. This basically means that whatever you wager, the poker site will also give you in the way of a bonus. So, if you deposit £20 of your own money, they will bolster your account with an additional £20, giving your £40 to play poker games with. However, these may be limited to certain rooms and need to be spent in a certain period of time.
Where on face value this seems like a good deal, what it actually does is secure punters’ business, encouraging them to spend with them to unlock the deal. What’s more is that poker providers will match deposits as high as £500, seeing many players get carried away and put that much of their own money on the line. Though having a free £500 to rely on, the intention when first logging on could have been to spend just £10.
Package poker bonuses - The last thing a poker provider wants is for you to spend their free bonus and never return to their site. This is the thinking behind package poker bonuses, giving away free poker bonuses every time the player deposits. These are usually built into package poker bonuses, with poker sites offering bonuses on a player’s first, second and third deposit. Effectively locking a customer into them for at least three visits, this gives the site time to promote more deals to the customer and see them take more poker betting risks. The value of the bonus is likely to increase with every deposit made, enticing players again to take a second and third bite of a cherry to hopefully turn a profit.
First loss poker bonus - losing is bad for morale; an eventuality that would cause most poker players to log off and move on, taking the loss for what it was; an unfortunate bout of bad luck. But, this is not what most poker sites want, making more money from the returning, losing loyal customer. This can be avoided by first loss poker bonuses, with poker sites giving losers a kickback on their losses to soften the blow. But, that only results in more activity on said site, giving players the ammunition to enter another poker room and chase their losses.
First win poker bonus - the same can arguably be said for first win poker bonuses. If players have experienced a win then the house will be out of poker, needing to player to experience a defeat with them. This is why many dangle a carrot in the form of a first win poker bonus, inviting the player back into a poker took and potentially spend/lose more money.
Where the majority of poker bonuses are awarded to new customers, they are not exclusive to new registrations. Reload poker bonuses are becoming increasingly popular. These are offers that are open to current members, not new ones. Requiring codes to claim, reload bonuses tend to be less valuable than welcome offer but nonetheless keep players playing.
‘VIPs’ are a group of poker players/bettors that are sometimes referred to as ‘high-rollers’. Given extra support, betting markets and exclusive tournaments as a reward for their loyalty. Free bonuses are common rewards, incentivising players to remain loyal and keep spending their money on their site.
Wagering and withdrawal requirements will be different for each poker site. For instance, you may have to roll over a bonus a few times before you can claim your winnings. Other sites will require you spend X amount before your winnings can be accessed. This is why it is essential that you understand the terms of each promotion you become involved with.
So, there you have it, the most common forms of poker bonuses you will find on online poker sites. But remember, if you are claiming any type of bonus to play poker with, be sure to understand what you have opted into by reading the terms and conditions in detail.