If you went downtown and visited your favourite casino, the first thing you would be likely to do is to purchase some chips. Say you go in and buy £100 worth of chips to play with. You are hoping to win, but if you don’t you won’t be too worried as you do not consider £100 to be a big loss and you will have enjoyed your time playing there.
But how will you feel if you exchange your £100 for chips and the girl at the cash desk says here are your £100 worth of chips but we really are grateful for your custom so here are another £150 worth of chips just to show you how much we appreciate you playing here. You count the chips she has given you and you see they really do amount to £250. As you do so she says that there is just one restriction. She will not exchange the extra chips she has given to you for cash, but she will cash all the chips that you win by using it as your stake money. It will seem like Santa Claus all over again.
Of course this is a fantasy. No real casino is going to hand over all those chips for free. However this is what online casinos do all of the time.
Most, if not all, online casinos promote themselves by offering to their new customers a sigh up bonus that is paid as a proportion of their initial deposit. It might not always be 150% of the deposit as in the case above; sometimes it is more, possibly even 200%, and sometimes it is less, possibly just 100%, however it is entirely free money to play with.
Just as our cashier in the first scenario said that there were some restrictions regarding cashing in the bonus, restrictions are also applied by online casinos. Generally these require that the bonus be played through a number of times, say 15, before a cash withdrawal can be made however it is still free money and the chances of winning using it are quite high, so there is nothing to lose and potentially much to gain.