When it comes to online casinos, you will find that most have some kind of introductory offer that is exclusive only to new players.
In online casino lingo, this is known as a “welcome bonus” or a “new player offer”.
These offers are reserved only for players who have never had a betting relationship with the online casino and are creating an account for the first time.
Over the years and since online casinos started becoming legal in 2012 and 2013, online casinos around the country have gotten more and more innovative in these welcome bonus offers.
One of the offers you’ll come across is matched deposit offers or deposit bonuses.
With that said, this offer is also becoming prevalent for existing players too, but on a much smaller monetary scale.
Here, we will take a deeper dive into matched deposit casino promo offers, including what they are exactly, where you can find them, how common they are, and the pros and cons of this type of offer.
What is a Matched Deposit Bonus?
With matched deposit casino promo offers, the general rule of thumb is that the online casino will match your deposit at a certain rate (usually by percentage).
The most common iteration of this offer you’ll find today is a 100% match up to $1,000. Some online casinos are less or more monetarily, but overall, especially for welcome offers, the 100% rate is fairly standard.
Matched deposit offers do not give straight-up cash, however. Instead, you’ll get some form of a site credit that is non-withdrawable.
You’re probably wondering how these become withdrawable, right?
Well, from there, we have to dive into the terms and conditions and at online casinos, this usually means wagering requirements and game contribution percentages.
Meeting these benchmarks is what stands between you and being able to withdraw the bonus funds you get from the matched deposit offer as cash.
As does the monetary amount and the percentage of the offer, the parameters for these and the timeline to complete them vary widely.
For example, you could see an offer in which you have 30 days to meet the requirement which is 15x the bonus received.
Continuing with the example above, you then find out that these are the game contribution percentages:
- Slots: 100%
- Table Games: 20%
- Live Dealer Games: 10%
This may all seem confusing, but let’s dissect it a bit.
How to Fully Earn a Casino Deposit Match Bonus
What this means is you have 30 days to wager 15x the bonus you receive in cash to be able to withdraw the bonus funds you received.
So, if you have a 100% match up to $1,000 and you deposit $100, this means you’ll need to wager $1,500 in cash.
Next, consider the game contribution percentages. As per the example above, if you wager on Table Games, only $0.20 of every $1 wagered on Table Games will count toward the wagering requirement.
Where to Find Matched Deposit Bonus Offers?
When it comes to online casinos, you can find a matched deposit offer, whether a new player offer or an existing player promotion fairly easily.
Right now, the only other welcome bonuses at online casinos are risk-free play periods, no deposit offers (receiving site credit just for creating an account), or free spins. However, the latter two options are typically connected to an offer such as a matched deposit bonus.
For example, here is a list of online casinos right now that offer matched deposit welcome offers:
- Betway: 100% match up to $1,000
- BetMGM: 100% match up to $1,000 + $25 in free play credits
- Unibet: 100% match up to $500 +$10 in credits
- PlayLive!: 125% match
- DraftKings: 100% match up to $2,000 + $50 in site credit
These are just a few examples, but as you can see, this type of offer is easily the most prominent welcome bonus on the market today.
With that said, going back to the terms and conditions laid out in the previous section, while they may have the same offer upfront, the terms and conditions could be the deciding factor in what offer is better.
How to Claim a Matched Deposit Offer
Before you do anything, you’ll want to check with the online casino you’re interested in to see if a promo code is required or not. If there is a code required and you do not use it, you could miss out on the offer.
- Go to the online casino site.
- Create a new account.
- If a promo code is required, input the code during the registration process.
- Make your first deposit
- Receive your matched deposit bonus funds.
- Complete the wagering requirements to redeem them as cash.
Pros and Cons of Matched Deposit Offers
Pros
- Large monetary value
- Allows you to wager on new types of games you may have otherwise avoided if only using cash
- Allows you to make larger wagers for potentially bigger payouts.
Cons
- Wager requirements could be obscene to a point where you’ll never redeem the bonus funds as cash.
- Timeframe to complete the wager requirements differs.