Bitcoin is the world's most popular cryptocurrency, and is being accepted as a banking option at an increasingly large range of casinos. As with more traditional funding methods, there are a number of deposit bonuses available for bitcoin banking.
Deposit Match Bonuses
Deposit matching is one of the mainstays of the casino industry. The match offer means the casino puts in a certain percentage of the money the player transfers into their account. The usual rate is around 100%, but it can be a little higher or lower. Occasionally you might find a 200% rate, but this is relatively unusual.
Restrictions and Requirements
When it comes to deposit matching, there is a ceiling (often around 1 BTC, but sometimes down to 100-200 mBTC). Sometimes casinos with a lower ceiling have a better matching rate, so the offer that's right for you might depend on how much you're willing and able to put in. After all, if you only have a few thousand satoshis (the smallest unit in the bitcoin currency) the ceiling doesn't come into play and the better matching rate is the obvious way to go.
In addition, there's the wagering requirement to consider. This relates to the withdrawal of your bonus, and is a multiple of the matched deposit. So, if you have a 1 BTC bonus sum, and a wagering requirement of 40x, this means wagers worth 40 BTC total have to be made before that bonus 'cash' can be withdrawn - obviously this is a huge amount so it's an example. Whilst irksome, the playthrough requirement exists to stop players putting money in, getting free bitcoin, and then just withdrawing it. It's worth knowing that different casino games may offer differing contribution rates to this requirement. Slots can be a good bet for hitting it, as they tend to contribute 100% and also can have a very high RTP (return to player) ratio.
There may also be a time limit to hit the requirement (although this will probably be a few weeks and not too onerous). Be sure to check the terms of any offer you go for to ensure you don't fall foul of a time limit and end up losing out.
Last but not least, there may well be a withdrawal cap, limiting the amount you can withdraw from this bonus. If you happen to be close to hitting that but still have some way to go to reach the wagering requirement, it can be worth focusing on the best RTP slots you can find. That way, your winnings won't be reduced much but you'll soon achieve the playthrough requirement.
Free Spins Bonus
Commonly paired with the deposit promotion above, free spins on slots are a favored option for many casinos. It's worth knowing that these also come with their own wagering requirement, which can sometimes be a little longer than the match bonus requirement. Similarly, you can expect a withdrawal cap, so hitting the jackpot is unlikely.
There are plenty of bonuses to enjoy when using bitcoin, as with any other payment option. Keep your eyes peeled for the best offers, and the attached restrictions, to find the right deal for you.