How Poker Bonuses Work?
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Over the years, the number of real money poker players has kept on increasing. Even after the UIGEA was passed in the US in 2006, the business slumped only for a short while. To capitalize on this huge market, poker rooms try to give out a lot of lucrative bonuses. The bonuses are of different types and have different stipulations attached with them. Sometimes, you might be tricked into believing that a bonus offer is better than what it actually is. Here are various aspects about these bonuses and how to decide which one will work the best for you.
Types of bonuses
To understand how poker bonuses work, you first need to understand the various types of bonuses that are on offer. Here are some of them:
No-Deposit bonus: This bonus is not very common. The main reason for this is that it is offered as soon as you open an account. You do not have to make any deposit. As a result, these bonuses are usually low in amount. However, if you are a good enough player, you can use this bonus and play at table with low stakes and grind your way to make a profit.
Welcome or First-deposit bonus: Almost every poker room will offer you a first-deposit bonus. These bonuses are usually match bonuses. For instance, if a site says that it will give you a 100% first-deposit bonus worth $300, then it means that you can deposit $300 and get $300 as bonus amount, or you can deposit $100 and get $100 as bonus amount. However, you will not get more than $300 in bonus amount even if you deposit more than that. Some online poker sites offer very large deposit bonuses, but they also attach certain stipulations on the offers.
Rakeback bonus: This bonus is also not very common but it is very useful. Rake is the amount of money which the poker room takes from a pot. A lot of times you will find that your profits are not what they should be simply because of the rake. A rakeback bonus gives some amount of the rake back to you, usually about 30%. Also, this bonus is not a one off or a short term bonus, which is why it can be really effective in the long run.
Along with these bonuses, you will also find a wide variety of other bonuses like loyalty bonus, high-roller bonus, and refer-a-friend bonus on most poker sites.
Redeeming the bonus
Poker rooms need to have certain stipulations in place otherwise everyone would take the bonus and leave. That is why sites do not release the bonus and the winnings unless the player has wagered a particular amount on the games. Most of the sites implement this through bonus points. A player earns bonus points for the money that is wagered on games and also for tournament buy-ins. When the player has earned a certain number of bonus points, the bonus is released. You should go through these wagering requirements very carefully. Some sites will only allow you to withdraw the winnings and not the bonus amount once you clear the requirements.
You might think that redeeming a large amount of bonus in a specified time might be a tough job. However, if you play at multiple tables, and play at higher stakes, it would be not very difficult. Most of the modern software programs allow you to play on as many as 16 tables in one go. Playing real money poker at higher stakes will contribute more towards the bonus points, but you should do that only if you are confident about your skills.
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