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For many players the enticement of bonuses and promotions aids them in deciding which online gambling site they wish to play. We of course would recommend that our readers have a more in-depth checklist of reasons, such as being UK Gambling Commission regulated. But we can understand the lure of bonus spins or cash back.
Most of you will be aware of the everyday bonuses found on most online casino and slot sites, including.
- Welcome Bonuses,
- Cashback Bonuses,
- VIP Schemes,
- Refer a Friend Bonus,
- Birthday Bonus,
- Monthly Special Promotions.
There is another bonus which is found on a lot of big betting brands and that is what we’ll focus on in this article.
Banking Bonuses on Casinos
Although not widely known, many gambling sites offer their players a bonus based on the type of payment method they use. The reason for this is to assist players who cannot use certain banking methods due to the laws introduced within a country and to push players to quicker and more secure options such as e-wallets. For example, the UK Gambling Commission banned credit cards on the 14th April 2020, which was a problem for many who preferred the security of using them instead of their debit cards.
You will find that most bonuses are connected to e-wallets for example Skrill, Neteller and PayPal. Players who may struggle using everyday methods such as debit cards, meaning they can no longer play online, can discover an alternative way to credit their account. This reward will encourage the player to stay with the casino, so they can grab that special payment bonus on top of the other extra promotions.
What is a Payment Method Bonus?
This term basically means that you the player will be given additional credit, based on how much you deposit into your account and which payment method you used. We have found that most deposit bonuses are linked to e-wallet banking, but we have seen some for phone bill payments. The average percentage cashback for this kind of promotion is between 10% and 15%. Sadly, it only tends to be on the first deposit you make using that particular method, but it is worth checking the terms and conditions of the gambling site to make sure. If you do come across a site offering regular deposit cashbacks, then this can save you money in the long run.
Process of Claiming the Casino Bonus
The process of claiming the banking bonus is quite easy, especially for those of you who have online gambling experience. Simply follow these steps.
- Choose your casino and register, making sure that the site offers the payment bonus. We always recommend you read the terms and conditions first, because promotions normally come with elements such as wagering requirements.
- Create an account with the payment provider, so for example if it was an e-wallet it would be one of the many popular options such as Neteller, PayPal or Skrill. There are lesser-known brands such as Ilixium, so research which is the best option for you. Then once the account is created it will need to be verified.
- You are ready to add credit so head to your casino and follow their process. This will send you through to the banking provider to confirm the transaction.
- Once you have added credit then you will receive both the welcome casino bonus and the casino payment method bonus.
As mentioned above, most of the bonuses you will come across on online casinos will have terms and conditions attached. We mention this again because it is the area that can catch players out who win credit and realise, they can’t withdraw it. We have written a whole article on wagering requirements and their impact on bonuses, so we recommend you read it to understand the implications. The crux of it is that if you take a bonus with wagering, then you have to play through a certain amount of credit before you are able to withdraw any funds. This can be an awful lot of money and may not make the original bonus worth the time.
There may also be other terms attached such as the games you can use the bonus credit on. This will vary from gambling site to gambling site, which is the reason we suggest you take a look before continuing.
Another point worth noting, is that although the use of e-wallets can get you a payment bonus, you may find that your chosen casino limits their use on other bonuses. Some casinos don’t allow customers who credit their accounts with e-wallet brands to take part in regular promotions. This is another area you should clarify within the terms and conditions, or simply contact the site to get their support.
Summary of Casino Payment Bonuses UK
Hopefully you have a clearer idea of what a banking bonus on a gambling site is and the implications of accepting this promotion. There are positives and negatives to claiming this and any other bonuses on a betting site, so the decision needs to be yours. It is a nice little extra from the casino and it makes sense that they would want to push us into using less administrative banking alternatives.
If you’re unsure about what e-wallets are and the best casino e-wallets for easy online gambling, then we have compiled a list and the reasons why they are so popular.