A Guide To Poker Bonuses
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Let's talk about poker bonuses. If you are new to online poker, all the sign up offers can be confusing, and probably sound too good. Remember that while poker bonuses can help your bottom line, they are not as "free" as you may think.
There are two main types of online poker bonuses: sign up bonuses and reload bonuses.
The sign up bonus, which is also the first deposit bonus, is the main bonus. Every poker site gives some sign up bonus, and to get a sign up bonus, you have to sign up and make a real money deposit. Sign up bonuses only apply on your first deposit at the poker site.
Most sign up bonuses come as a percentage match up to a total bonus size. They go from a 100% up to $500 match. This means that every dollar you deposit (up to $500) will be matched with a bonus dollar. But you can't just deposit $500, then cash out $1,000 to realize an instant $500 profit!? You still have to deal with clearing requirements. It usually takes about 60 to 90 days after you make your first deposit to clear the bonus. If you choose to withdraw before clearing the entire bonus, you will forfeit uncleared bonus dollars.
Then there is the reload bonus. They work the same as sign up bonuses, except you can redeem them on any deposit. Very few poker rooms have running reload bonuses. Usually you can only redeem them by playing a lot at the poker room, or on promotions at the holidays.
Now here's the "catch." There is always a clearing requirement before you can wager or withdraw the bonus money. And there are three types of clearing requirements – based on total rake, based on contributed rake, and based on raked hands played.
Most clearing requirements are based on total rake. As you play real money you build up rake, and you earn "Frequent Player Points" (FPP). Every time you reach a fixed amount of FPPs you can redeem some of your bonus money. At cash tables, you earn a certain amount of FPPs for every dollar that is raked at your table. The poker site gives points equally based on the table's total rake.
Some poker sites use a "contributed rake" system. It measures exactly how much rake each player paid. Both total rake and contributed rake clearing requirements base their bonus requirements on FPP accumulation.
And there is the raked hands system. Here, the poker site counts the number of raked hands you have played before you receive your bonus. For example, at some sites, you have to play 10,000 raked hands before you can receive the $1,000 sign up bonus. A raked hand is one where rake was taken from the pot.
Check clearing requirements for bonuses before you deposit. Tough clearing requirements can turn a good-looking bonus into a losing deal. Small bonuses with easy terms are better than large bonuses with difficult requirements.