The internet has profoundly affected human life on earth. In a short span of time, it has hugely changed the ways of human life. It has now become part of our everyday lives. It helps in our communications, makes our shopping easier, and has changed the way businesses operate these days.
Like many industries, gambling has also witnessed a huge change due to the World Wide Web. Now online gambling is a business of billions of dollars. All one needs is an internet connection along with an electronic device to play casino games, avail no deposit bonus or bet on big sporting events in the world.
History
In the history of online casinos and casino bonuses, the Free Trade and Processing Act in Antigua and Barbuda is considered very important. This major event has a great significance and was first passed in 1994. Through this law, the Caribbean nation could offer licenses to companies for starting casinos on the internet.
In that same year of 1994, many companies started doing online casino businesses. Although, the South African company Microgaming is mostly credited for being the first online casino in the world. That company is still in business and has a very good reputation. InterCasino was also an online casino of that time which is still in existence today. Both these companies were instrumental in the development of the technology and the financial systems of online gambling.
At that time, there was not much competition among the companies. Therefore, there was not any concept of casino bonuses. However, more and more companies involved themselves in this business and hence the number of online casinos grew very quickly.
This brought in a lot of competition among the big companies. Consequently, a lot of improvement was witnessed in terms of the software and technology, while extra features were also being added constantly. Multiplayer games and themed slots helped in increasing the popularity of the online casinos. This was the time when companies started offering casino bonuses in order to get ahead of the competition.
Companies started giving welcome bonuses or sign up bonuses in order to lure new customers to play at their casinos. These bonuses were also a way to lessen the perceived risks often associated with something new.
Compared with the present times, these early casino bonuses were a great deal more attractive. Not only bonuses used to be very generous, but also that they had very fewer terms and conditions associated. While now, the terms and conditions are quite lengthy rather than just a handful which was the norm at that time.
However, there has been no change in the basic principle of casino bonuses. The players always deposit a little amount and then are offered with a bonus that will either be equivalent to or greater than the sum which is deposited. The change now is in terms of the complexity of the rules. This is due to higher market competition, more players, and bonuses abuse.
Another thing that has affected casino bonuses is the legislation and regulations regarding the casino bonuses.
Legislations
The number of online casinos grew very quickly in a very short time. In 1996, there were only 15 websites while in 1997, that number increased to 200. In the US, the Internet Gambling Prohibition Act was introduced though it did not pass later. The US Department of Justice also notified the media about the possible illegality of placing ads of online gambling. And in 2009, the Department of Justice seized about 35 million and froze a huge number of online poker accounts. Currently, there is a huge effort going on to make online sports gambling legal in the US.
In the UK, they tried to capitalize on this market through their Gambling Act 2005. Gambling was made legal. Now the Gambling Commission regulates the gambling industry in the UK.
While in Australia, the Interactive Gambling Moratorium Act was passed and made online casinos licensed before 2000 illegal for operation.
Types of Casino Bonuses:
Now the types of bonuses are very varied. They also come with terms and conditions comprising of several pages.
Welcome Bonus
Commonly known as sign up bonus or new player bonus, it is the first thing you will probably notice on the website of an online casino. Majority of such bonuses are 100 percent match bonuses, meaning a person who deposits a certain sum would get double the amount. For example, you have signed up to a casino claiming to offer 100 percent match bonus. If you make a deposit of $100, then you would get $100 making the total to $200 of casino play.
Some bonuses can be very generous going up to 500 percent while others can be comparatively lower. Punters often look out for the wagering requirements and the maximum cash out amounts when making a choice.
No deposit bonus
No deposit bonuses are very common these days. Players can avail from such bonuses without making a deposit. This makes it possible for players to check a casino for free, and if they like the casino then to continue playing while otherwise to switch to another casino.
Signing up for an account is all a person needs to do and then the no deposit bonus will become available. The wagering requirements should definitely be read beforehand though.
Monthly bonuses
Majority of online casinos offer monthly bonuses as well. Apart from the welcome bonus, online casinos offer monthly bonuses when players make subsequent deposits.
Payment Method Bonuses
These types of bonuses are very uncommon. Only very few online casinos offer such bonuses on making a deposit through a particular payment method. It is particularly designed for encouraging players to use a specific payment method.
Refer a friend bonus
As the name indicates, such type of bonuses could be availed after one refers a friend to an online casino. Such a person will receive the bonus when that friend signs up and deposits an amount.
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