Deposit bonuses at Online Bingo sites

With the growing online bingo industry has also brought the onset of the war of promotional deposit bonus matching. The industry has wagered this war to draw in more players with their FREE money. The promotional matching deposit bonus ranges anywhere from 20% to 400% so far as I can see. What does all this mean for the online bingo player??? Let us see if we can break it down for you along with the pros and cons.

Our first examples will be for the new online bingo player. Let us assume that you have never played online bingo in the past and would like to give it a try. Most online bingo sites will reward the new player with a huge matching deposit bonus on their FIRST deposit. What this means is once the player registers and opens an account and makes their first deposit, they will receive a matching deposit bonus in addition to their cash deposit. Example = New players will receive 200% matching deposit bonus on their FIRST deposit only. The new player deposits 100.00 cash and receives 200.00 in bonus dollars. WOW 300.00 to start to play bingo for just 100.00 monetary deposit. That sounds sweet!!!

Another promotional offer that many online bingo sites will offer to the new player is x amount of free cards plus a matching deposit bonus on the new players FIRST deposit. An example is: Deposit and receive 25 free cards in our main bingo hall(.25 per card) plus 100% matching deposit bonus on your FIRST deposit. If the new online bingo player deposit 100.00 into their account, they would receive 25 free cards at .25 a card = 6.25 plus 100.00 in bonus dollars bringing their account balance up to 206.25.

The deposit bonus is not for the new online bingo player any longer however. Most online bingo sites now will offer deposit bonuses for all players. Over the past year, I have noticed that online bingo sites are almost all offering substantial deposit bonus’s for all deposits. As a general rule of thumb, most online bingo sites offer 50% matching deposit bonus on all deposits but they also offer upwards to 400% matching deposit bonus at certain times or for special promotions. What is the catch you ask? Let me see if I can help.

In order for the online bingo industry to make a profit, they must first have the incoming deposits to generate income. Without the deposits, the online bingo sites would not have a bank balance to work with. To draw in the deposits, they must try to bring in the online bingo players to deposit, so they have the promotional offers of big deposit bonus’s to do this with. Online bingo sites generally have a prize per game based on the amount of money paid for cards for that specific game or the game prior (depending on each online bingo sites format). The bingo prize however does not generally take into consideration the amount of bonus dollars used to purchase cards since bonus dollars do not have a monetary value. Example: 20 players buy 10 cards at .25 cash each. This would represent a monetary value of 50.00 cash in take. The prize to be paid for that game would be based on the online bingo sites pay out percentage of 50.00 CASH. Let’s use 75% as our baseline. The online bingo site would pay a prize of 37.50 and profit 12.50. Now, let’s use the same example above but 20 players buy 10 cards at .25 each with 100 of the 200 cards sold using bonus bucks. This would mean that only 25.00 cash was used to purchase bingo cards so the prize would be based on 25.00 x 75% = 18.75. This is a far cry from the 37.50 that would be paid out if all players purchased cards using cash.

The above example may sound a bit confusing to you but I have noticed over the past year at most online bingo sites that the number of players at the online bingo site has grown, but, the prizes have dropped.