Free cash bonuses are nothing new in the online casino industry. Casinos have always relied on the lure of free cash to get new players through their virtual doors.
Until recently these free cash deals have taken the form of a ‘cash match’ incentive – the new player is asked to deposit a sum of money, which the casino will then match, either pound for pound or on a multiple ratio.
There’s no doubting that these bonuses have been a successful way for online casinos to generate interest and attract new players. However, competition between casinos has seen a bonus arms race develop in the industry. The standard size of bonuses is getting bigger and bigger, what started as a £50 or £100 bonus has now risen to £500 – £1000.
The problem with these bigger bonuses are two fold – firstly, a new player needs to make a big first time deposit to take advantage of them, most new players feel uncomfortable depositing large amounts, so the bonus can actually become counter productive. Secondly, the bonuses are now looking ‘unbelievable’ to the average player – do you really think a casino is going to give you £2000 for free? It sounds scammy right?
[quote float=”right”]It’s not as bonkers as it sounds[/quote]So how can the casinos remedy the problem? Well, the answer is simply to give players totally free cash instead! The new ‘NO DEPOSIT BONUS‘ is not as bonkers as it sounds.
A casino that gives away free cash can open up a new vein of players they previously wouldn’t have been able to access. From the casinos point of view these promotions are a cost effective way to acquire new customers, considering the price of bidding on the keyword ‘online casino’ in Google Adwords is now around £30 per click! The casinos are probably wiser to give that money to new customers rather than Google.
One of the most popular brands to trial this type of promotion is Ladbrokes Casino – they launched a no deposit bonus earlier this year with a totally free £5 deal. Support by a TV campaign the promotion was an instant hit with customers. Now 888 have entered the fray with a free cash deal that eclipses the Ladbrokes offer – for a limited time 888 Casino is giving away £88 in free cash! Although the 888 deal comes with a few more terms and conditions, the size of the offer makes it more compelling than the Ladbrokes one.