Top Poker Bonus Codes May 2012: Bovada
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Poker bonus codes go by many names - marketing codes, referral bonus codes and deposit bonus codes, just to name a few. Whatever the name, the concept is the same - use a code and you'll get what amounts to free money from poker rooms. It's a simple as our motto: Get more money, play more poker. Different types of codes provide different types of bonuses, but not to worry: We've got a complete introduction to the world of poker bonus codes in the paragraphs below. Or, if you want to jump right in, get started with our top poker bonus using this Bet365 bonus code for 2012 .
Making Sense of Online Poker Bonuses
Most, if not all, online poker sites utilize various forms of bonuses in order to attract and retain players. While bonuses offer significant value for online poker players, the current array of available bonuses also tends to confuse and frustrate the very players they are designed to attract. With dense terms and conditions, complex structures and a variety of titles that are often misleading the modern online poker bonus waters require no less than an extended guide to navigate.
That's where I come in. I'm a long-time online poker bonus hunter running Bonus Code Poker who has dealt with just about any type of bonus type and structure imaginable. In this article I'll begin to demystify the needlessly complicated world of poker bonuses by separating commonly available bonuses into easy-to-understand classes. Along the way, I'll help you to understand the pros and cons of different bonus types so that you can develop a better sense of which bonus type is right for your online poker needs.
Online poker bonuses can be divided into four basic categories: First Deposit Bonuses, Reload Bonuses, Player Promotions and No Deposit Bonuses.
First Deposit Bonuses Explained
The first deposit bonus is perhaps the most common online poker bonus. Also referred to as a sign up bonus, a first time deposit bonus, a new player bonus or a deposit bonus, a first deposit bonus is simple enough to understand: The first time you make a deposit at a room offering such a bonus, you're going to be eligible for some bonus cash.
The first deposit bonus is usually a matching bonus, meaning the bonus amount you receive is tied to the amount you deposit. Rooms generally set a percentage and a cap for first deposit bonuses, both of which determine how much bonus money you can actually get.
First deposit bonuses, along with reload and no deposit bonuses, require you to"earn" or"clear" your bonus by meeting certain play requirements. Learn more about clearing poker bonuses.
At BonusCodePoker.com, we offer reviews of over a dozen of the top online poker frist deposit bonuses, such as the initial deposit bonus at bet365 poker or the deposit bonus Bovada Poker gives to new players. We also provide regular coverage of the poker industry as it related to bonus hunters, with news and anaylsis that poker players can really use like this quick piece identifying Asian-focused poker sites as the next bonus gold mine.
Example of a First Deposit Bonus
The standard PokerStars deposit bonus is 100% up to $600. The"up to" part of a first deposit bonus generally refers to the maximum amount of bonus you can receive and not the maximum amount you can deposit. If you make a deposit of $300 at Full Tilt as your first deposit, you'll receive a bonus of $300. If you deposit $600 - or any amount over $600 - you'll be credited with a bonus of $600.
Pros and Cons of First Deposit Bonuses
The major pro and the major con of first deposit online poker bonuses are one and the same: First deposit bonuses offer large bonus amounts, but large bonus amounts generally require relatively large deposit amounts. For players who wish to make a small deposit or no deposit at all, first deposit bonuses generally offer relatively poor value when compared to no deposit bonuses.
Deposit bonuses can also have onerous clearance rates that require a player to put in far more time playing to earn the bonus than he or she might wish to commit. This is especially true for recreational players who put in the majority of their hands at the lower stakes.
Online Poker Reload Bonuses Explained
Reload bonuses are essentially the same as first deposit bonuses except that they are designed to reward existing players rather than new players. Why do rooms offer reload bonuses? The lifeblood of any online poker room is deposits. Without deposits, the player liquidity of the room inevitably shrinks as the rake takes more and more money out of play. To keep money flowing in to the room, reload bonuses reward players for"reloading" their account by making additional deposits.
Reload bonuses are generally structured in the same way as first deposit bonuses. Players will receive bonus money that matches their deposit by some percentage, and the bonus will be capped at a certain number. While not universally true, the common standard in the online poker industry is that reload bonuses are smaller in both percentage and cap than first deposit bonuses.
Example of a Basic Reload Bonus
PokerStars will often offer reload bonuses just before major events such as the SCOOP or the WCOOP. A recent reload offer from PokerStars gave existing players (new players would still qualify for the first deposit bonus) the opportunity to earn a 20% bonus up to $100. That means a player would need to deposit a total of $500 in order to earn the full bonus.
Reload Bonuses: Upsides and Downsides
If you have a decent amount of money available and enjoy playing at only one or two rooms, reload bonuses don't necessarily have a strong downside. The basic knock on reload bonuses is that they tie up money that could otherwise be put to better use. Since reload bonuses offer lower percentages and lower maximum bonuses, one could argue that poker players would be better off depositing that money at a new room to get the first deposit bonus.
Reload bonuses can also restrict your cash flow. The terms of most rooms are such that making any withdrawal while you're clearing a reload bonus cancels the bonus. If you're working on an incremental bonus, this means any amount you still have to clear vanishes. If you're working on a bonus awarded all in one chunk (fairly rare these days), you lose the entire bonus.
Player Promotions Overview
"Player Promotions" is an umbrella term used here to describe a wide variety of bonuses available to players that generally require a specific set of actions on the part of the player. These include, but are not limited to, promotions such as Rake Races, Rake Chases, VIP Programs, Tournament Leaderboards, Happy Hours and so on.
Player promotions vary wildly by room and are often deliberately complex and structured in a way that favors either casual or hardcore players. While player promotions can add a significant amount of money to the bottom line of the serious poker player, they often require quite a good deal of time and effort to dissect. Without that time and effort, players may find themselves frustrated by their inability to maximize a given promotion.
Example of an Online Poker Player Promotion
The Full Tilt Poker Iron Man promotion is a good example of a typical online poker promotion. The program is far too complex to capture completely in a few sentences, but the basic gist is that players who put in a steady amount of play very day receive more medals that players who play a little here and there or players who put in a ton of time just a few days a month. Medals can be exchanged for a variety of products and bonuses at a variety of rates, and sorting out the"value" of a medal is a tricky exercise as a result. Players also have the option to"buy" participating days of play should they miss one, and the longer you maintain your status in the program, the more its worth.
Player Promotions: Pros and Cons
The brief description above should give you some idea of exactly how labyrinthine player promotions can be. While deposit bonuses are generally straight forward - deposit 'x' amount and receive 'y' bonus amount - player promotions are designed by rooms to generate the most possible play (and therefore rake) at the lowest possible cost.
That doesn't mean player promotions aren't worth your time. If there's a promotion that is in line with what you are already playing, there's no reason not to take advantage of it. However, if a promotion requires you to play outside your comfort zone or dangles a value that seems too good to be true, you should definitely spend a solid amount of time reviewing the fine print and calculating what the realistic value of the promotion to your bankroll.
Finally, more and more rooms are moving to a model that requires you to actively opt-in to their promotions. This process generally takes place from within your account at the room, often somewhere in the cashier area. Double-check promotions to see if they require an opt-in, because there's nothing worse than playing hard for a bonus only to find out that you won't be receiving it.
No Deposit Bonuses in Online Poker
No deposit bonuses are increasingly popular in the online gambling industry. The basic premise of a no deposit bonus: Rooms provide new players with a small amount of cash to try out the room, expecting that for a small investment the room might gain a long-term customer. No deposit bonuses do not require a player to deposit cash in order to receive the bonus. It is not just poker where one can find such bonuses; Bingostreet offers no deposit bingo for those who prefer a variety of casino games. Just Google 'no deposit bonus' and the name of your preferred game to find all your options.
No deposit bonuses come in two basic forms: Flat and stacked. Flat no deposit bonuses award the player a lump sum upfront, while stacked no deposit bonuses give a player some money upfront and then provide additional bonus cash when the player meets certain targets.
Sample No Deposit Poker Bonuses
A simple example of a flat no deposit bonus is the bonus Sky Poker provides to new players. When a new player signs up at Sky, they receive a £10 credit that can be used for tournaments or Sit and Go's. Players cannot withdrawal the bonus amount until they meet certain clearance requirements (see our Sky Poker free bankroll page for more information). No matter how much or how little they play, the bonus remains at £10.
Stacked bonuses, on the other hand, provide players with the chance to earn additional bonus money by reaching certain play thresholds. A good example of a stacked no deposit bonus is the Titan Poker free bankroll BonusCodePoker.com offers. When you sign up for the bonus your account is initially credited with $50; reach certain point levels at Titan Poker and you could earn up to an additional $100 in bonus money for a total of $150.
No Deposit Poker Bonuses: Pros and Cons
The major drawback of no deposit bonuses is their size. Unlike first deposit bonuses, or even reload bonuses, no deposit bonuses tend to be relatively small amounts. The average value of the free poker money offers we list is roughly $50, and that number drops if you stop including the total potential value of stacked bonuses.
Not having to deposit at all is obviously the primary advantage of no deposit bonuses. Due to this appeal, however, you also are forced to jump through a few hoops in order to prove to the room that you're not simply scamming them by making multiple accounts. Be prepared to offer up an ID along with phone verification if you're looking to get a no deposit bonus. Another tip: Check the country list carefully before you go through the trouble of signing up. Many countries are barred wholesale from receiving such bonuses due to historically high levels of fraud.