Visit any online casino these days and there’s a chance you’ll be welcomed with a generous basket full of bonuses. Giving out offer is so prevalent that it’s now a part of the online casino culture.
But isn’t it like handing out free money? What could casinos possibly get out of bonuses? Quite a lot actually. Bonuses aren’t free money. Instead, they are an investment to improve business. Here’s how.
Prospecting New Clients
It’s no secret—finding new customers is challenging for every business. But guess what? It’s much easier when you offer prospects irresistible deals? That’s where bonuses come in. Casinos target people who want to play slots and poker but don’t have the money.
After that, they invite these people to create accounts in exchange for betting credits. To spice things up, the best casinos provide no deposit bonuses worth real cash—you can withdraw your bonus winnings.
Unsurprisingly, bonuses are excellent for “fishing” new customers. They don’t always bring long-term clients. But better than any other marketing tool, free betting money is the most effective advertising tool for casinos.
Although the primary goal of bonuses is to find new customers, it goes beyond that. Bonuses also help grab customers’ attention. And in doing so, they help gaming operators create awareness about their games and services.
Think of a new casino with unique features. Maybe they have a TV-show like competition for late-night poker, roulette and blackjack players. They won’t give out no deposit bonuses just to find new players.
They also use these offers to popularize their products and services. That way, they ensure a lot of people know about their new TV show even if they might not become immediate customers.
Of course, creating awareness isn’t just about promoting new products. Take a look at Erik King’s bio. It’s an example of brand awareness centred on a person done right. Another example is a casino promoting its name and not necessarily its products.
Think of 888, William Hill or Paddy Power. They are well-known companies because part of their marketing efforts involves creating awareness around the brand name.
This seems obvious but it’s vital for every casino business. You want people to like your products so that they become loyal customers. In other words, you want players to choose you over your competitors.
And how can casino players become loyal to you when there are so many good alternatives? According to the Zamsino website, bonuses play an important role in impressing customers. It makes sense, anyway.
Bonuses are one of the most important things to casino players. They are constantly looking for great deals. So, when they find a website with genuinely excellent offers, they become customers instantly.
Creating a Positive Buzz
When you’re a business owner, any chance of people talking about your brand is welcomed. Unfortunately, such opportunities don’t come around often…unless you have something worth talking about.
A case in point is PlayOjo casino, a brand established in 2017. Based in Malta, PlayOjo was one of the most talked-about gaming websites for the past two years and for genuine reasons.
The thing is, PlayOjo launched with extremely attractive bonus deals. Every gaming session at the casino ends with a cashback. And the best part is that you get cash and not bonuses. The casino is full of no wager money offers. And naturally, that’s good enough to create a buzz.
With such impressive offers, PlayOjo casino grew incredibly fast and developed a cult-like fanbase. But perhaps because it got overwhelmed with new customers, its ratings have been declining.
When you think about, casinos make profits instead of losses after giving out bonuses. That’s because their offers come with a catch. When you receive a welcome package, you’re expected to spend real money before you withdraw bonus wins.
What’s more, you must complete the process of turning bonus wins into cash within 30 days at most casinos. In light of that information, let’s do some quick math. Assume you get a £50 bonus with 40x wagering requirements. Then you use your bonus to win £200.
To cash out this money, you must spend £2000 (£50 x 40) in a month. Although your £2000 could help you win more money, there’s no guarantee. You could also lose a significant portion of it, which would be a profit for the casinos.
Now imagine that hundreds of people claim bonuses every month. And only a handful of them makes profits. And that’s how casinos manage to make profits from bonuses often.
Think about it. Why do you request free samples from new businesses? Why do you look for free trials? Because you don’t trust these companies or their services. You need a free trial to believe a product is worth paying for.
That’s the same logic casino players use. Sure, they can see a casino has a beautiful website and app. And they probably trust the business is valid. Still, they want a bonus for a certainty that they will have a great time at the platform.
The good thing, most casinos these days are ever willing to give out bonuses to potential customers. They know the importance of building trust—it’s how the casino industry became a multi-billion-pound industry.
Motivating Players to Spend More
People spend more money when they believe they are getting value from their money. In the casino space, value comes in getting generous, regular bonuses with great terms and conditions.
As we mentioned earlier, great bonuses are hard to come by. So, when a casino gives them out, people are prompted to claim these offers are often as possible. Of course, gaming websites don’t give free rewards.
The catch is to make a deposit in exchange for a bonus. Or to spend more money on kickbacks. Most people will spend as much as they have when there’s a good deal on the table. And that’s why nearly every great casino seems to have a bonus promotion every month.