Understand How Bitcoin-related Bonuses Work to Avoid Pitfalls

55

It is human nature to be thrilled when they find something for free even if the person is rich and wealthy. It is normal yet a wonderful feel! The majority of businesses take advantage of this human nature offering discounts and freebies with their products or services. Online casinos are also employing this promotional tactic to attract customers.

Casino bonuses of different kinds appeal to existing and potential gamblers. Even Bitcoin casinos are adapting this norm of the online gambling sector. On Bitcoin Core Blog, you can check reviews on different crypto gambling platforms along with their features, pros, and cons. Competition has pressurized gambling site owners to offer an awesome welcome bonus or every deposit bonus because it is necessary to earn an edge on similar cryptocurrency casinos.

Reasons online casinos offer cryptocurrency-related bonus

  • Makes the signup process less nerve-racking – On signup, the member is offered different kinds of benefits like a boost on deposit to play card games or sports betting or free spins on slot machine games.
  • To keep members engaged and active – After playing some games, the platform desires to retain you and become a loyal customer. Bonus is a huge incentive that makes players returning to the casino.

Some online betting sites offer better incentives if members make a deposit using Bitcoin. For example, the offer can be extremely generous like on $300 & more BTC deposit they offer a matching bonus of 100%.

If you are wondering how adding a single BTC to your balance helps to acquire another bitcoin, so you can withdraw 2 BTC quickly. It sounds bizarre because no casino desires to lose by giving generous funds to users. Understand how the welcome bonus works to avoid pitfalls.

Mechanism of Bitcoin deposit bonus

  • Interested player credits account on gambling site that accepts BTC payment mode with a specific amount and opens an account.
  • The gambling site will add extra funds to the amount player credited. The added funds can differ like 25% or 100% or even 200% on the deposited cash.
  • Both the player’s deposited money and bonus funds are stored in the enrolled gambling site’s bonus account. The condition is to use the deposited cash first and then the bonus funds.
  • If the player wins a bet then the gains from the bonus account are transferred to the cash account. This allows the player to withdraw BTC to their wallet.

The bonus funds limit differs from one casino to another. 1 BTC is common, which means even on 5 bitcoin deposits the website will not add money more than 1BTC to your bonus account. The bonus cash has its expiration, so the receiver will need to gamble the benefits in a few weeks or months or the bonus goes void, and money from the bonus account is transferred to the cash account.

Unique bitcoin bonus options available

BTC welcome bonus

You acquire this bonus the moment you join the casino. Sometimes, the welcome bonus is too good to be true. It seems a way to push everyone but remember it has its limitations. Usually, it is a double or 100% match on the initial deposit. It means a 0.6 BTC deposit in your account will bring an extra 0.6 from the casino owners. Look for Bitcoin promo codes available for casino games, poker rooms, and sportsbooks.

Deposit bonus

Every time you deposit funds in your account there will be a bonus of a specific percentage added to it. The welcome bonus is certainly great but smart gamblers will prefer the casino to offer a deposit bonus. For example –

  • 1st deposit bonus – 150% up to one BTC + 150 free spins
  • 2nd deposit bonus – 50% up to one BTC
  • 3rd deposit bonus – 50% up to two BTC
  • 4th deposit bonus – 100% up to one BTC

The total deposit bonus a player will attain is 5 BTC + 150 free spins.

Free spins

It is a common bonus type in every casino. A free spin is great because the chances to win big exponentially increases without any concerns about losing money added to the account. Free spins number differ like some offer all-day, while a few gifts during special occasions. Free spins mean to spin the slot reels you don’t have to pay. 50 free spins mean you can spin slot reel 50X without paying.

Referral bonus

The referral bonus concept is simple. Every time you invite a colleague or pal or comrade to join the casino, you are rewarded with a bonus. Some casinos have limitations on total referral numbers, while the remaining offer unlimited invites.

VIP or Comp points

BTC casinos offer loyalty programs, where active players are rewarded. They climb the VIP ladder earning Comp Points when real money wagers are made. Comp Points are free incentives offered to boost your loyalty. You can claim it for free slot machine spins or an exclusive match bonus.

No-deposit bonus

BTC casinos offer no-deposit bonuses through bonus codes. Every code is unique and can be used just once thus the abuse of free BTC offer is prevented. No deposit bonus is rare, but certainly exists. It is a promotional offer, which rewards gamblers to sign up or play a new slot game. Bonus is either a small cash amount to use at table games or free spins.

However, there are some rules you are expected to follow while using the no deposit bonus alternative. The playing mechanism is the same. You will need to wager a specific amount to acquire the bonus. For example, a 50mBTC bonus with 20X playthrough is equivalent to 1,000mBTC worth real cash play is needed to release a bonus in your account.

No financial risk is the biggest perk of choosing BTCs no deposit bonus alternative. They are free, which can be used as you like. It is an ideal option to try on a new casino. You don’t need to suffer from poor customer support or lack of preferred games after signing up.

A zero-deposit bonus means you can use all the features on the gambling site for free. The drawback is the amount of this bonus is tiny. BTC value massively fluctuates, so casinos keep them small to decrease the risks. Another downside is its stipulations and restrictions. Playthrough needs are high yet a no-deposit bonus [free cash] offsets these drawbacks.