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Welcome bonuses also called first deposit bonuses are a type of promotion offered by online casinos. The main goal of welcome bonuses is to attract new players and help the casino grow, amongst the stiff competition of other online casinos.
The welcome bonus is usually the best deal you can get in an online casino. Loyal players often get bonuses as well, but these are almost never as generous as the welcome bonus.
Welcome bonuses usually come in the form of extra credit which you can use to play for real money. If you play for long enough, you can withdraw this credit.
Otherwise, everyone would just simply come to the casino, take the bonus and withdraw their money with a healthy profit, without even playing.
The conditions which force you to play for long enough with a bonus before a withdrawal are known as wagering requirements WR , or rollover requirements.
WR are expressed in terms of how many times you have to roll over the bonus 25x, 50x etc. To roll over a bonus 25x, the sum of your bets must exceed 25x the original value of the bonus.
Note that not all games contribute to WR with a full bet size. Table games like blackjack or roulette always contribute only with fraction of the bets.
Many high volatility slots are either ruled out entirely, or have limited contributions. If you win, you can cancel the bonus and withdraw your winnings.
If you lose, the bonus is your second chance. If a bonus is tied to a deposit , you have to follow the bonus rules from the beginning.