Over the last decade, there has been a trend of international online casinos launching in India. This trend could have been confusing to many people in India since land-based casinos are not permitted in most states in the country.
However, due to legal loopholes, it is perfectly legal for international iGaming brands to offer their services in India as long as they comply with local laws like FEMA Act, 1999.
With the lockdown imposed last year, many online services saw a massive surge in India. These services included fantasy sports apps, poker and rummy sites, and online casinos. Having a primarily young population that’s tech-savvy and a culture of recreational gambling and betting, it is not a surprise that India has emerged as one of the next biggest iGaming markets worldwide.
This article looks at casino bonuses, which is the most common marketing strategy online casinos use in India. New players might get persuaded by bonuses worth lakhs of rupees without really understanding how casino bonuses work and why casinos offer them.
Why do online casinos offer massive welcome bonuses?
There are several reasons online casinos offer massive welcome bonuses, and losing money is not one of them. The biggest online casinos in India are operated by huge international brands with big budgets. The bonuses’ rules and structure are crafted to ensure that the operator does not lose money in the long run.
Of course, a certain amount of the bonuses offered are borne as marketing costs by the company. More significant rewards lead to more sign-ups and better customer loyalty, both of which are important in a highly competitive industry.
What are wagering requirements?
The term and conditions of bonuses are known as “wagering requirements,” and they dictate how the players work. For example, one of the most common requirements for bonuses is that the total amount should be turned over a certain number of times before they become withdrawable for cash.
For example, suppose an online casino that offers a 100% matching welcome bonus. So if you deposit ₹2,000, your account balance would become ₹4,000. However, the online casino might also have a wagering requirement of 15x, which means you will have to stake ₹60,000 (4,000 x 15) to withdraw the amount as cash.
Wagering requirements allow online casinos to regulate their bonuses, so they remain profitable. It is highly advised for new players to ensure they understand the wagering requirements before accepting any bonus.
Are online casino bonuses worth it?
With the way wagering requirements are structured, it makes sense to avail of the bonus only if you’re planning to play on that particular online casino for a long time. The longer you keep playing, the more value you will get from the bonus.
Ideally, players should see the bonuses as a reward system for their patronage and not as a scheme to get rich quickly.