Often reserved for generous first deposit bonuses and higher spender bonuses, 200% deposit promotions are not as common as you might hope, but there are still plenty of them out there.
But what are these promotions, how do they work, and what kind of terms and conditions can you find hiding away in the small print?
Let’s find out.
What are 200% Deposit Promotions?
A 200% deposit bonus is one that matches your deposit with a 200% bonus boost. Also known as matched deposit offers, that 200% boost is the equivalent of getting an additional £20 in bonus credits when you deposit just £10. That means you’ll have a total of £30 to play with.
As impressive as a “200% deposit bonus” sounds, UK gambling sites don’t always use that terminology.
In the case of small 200% deposit offers, such as those capped at £20, the site will typically phrase it as follows:
“Deposit £10 and play with £30!”
That’s because these bonuses are tailored toward casual gamblers, and they don’t always understand what a “200% deposit bonus” means.
When the bonus cap is significantly larger, the 200% term is used, along with the maximum payout, such as:
“Get a 200% deposit boost up to £500”.
In either case, you’re still getting a 200% boost on your deposit.
What are the Terms of these Promotions?
All bonuses have a series of terms and conditions and it’s always worth checking these in advance. The ones you’ll find on 200% deposit bonuses are similar to the ones you’ll find on other promotions and usually include the following:
Minimum Deposits and Maximum Bonus Amounts
If you fail to meet the minimum deposit amount, you will miss out on the bonus. It’s frustrating, but those are the rules! £10 is the most common minimum amount, but it can creep up to £20.
As for the maximum amount, it dictates the most that you can receive from a bonus. If the cap is £200, for instance, it means you’ll get £200 when you deposit £100 or more.
Wagering Requirements and Wagering Periods
All 200% deposit bonuses have a wagering requirement, and it’s usually fixed at between 25x and 70x.
Sometimes referred to as a playthrough rate, this term requires you to wager your bonus credits a specific number of times. If the wagering requirement is 50x and you have a £10 bonus, you must wager £500.
As soon as you start betting your bonus funds, you’ll enter what’s known as the wagering period. These periods have a fixed time limit in which the wagering requirement must be met. Failure to do so will void the bonus.
Games are weighted differently during the wagering period. Most slots count for 100%, but some are excluded completely. As for table games and live casino games, they rarely count for more than 20% and usually count for 0%.
At 20%, it means that £100 wagered will only remove £20 from your total.
Win and Withdrawal Limits
A win limit is a restriction placed on how much money you can claim from the bonus.
It is implemented in one of two ways.
The first limits the money you can claim from the bonus while the second limits the amount you can withdraw. The end result is the same in both cases, but it kicks in at different times.
The win limit is very important, as it can vary hugely from site to site.
On Jumpman Gaming casinos, for instance, the win limits are usually fixed to your deposit amount. On other sites, it’s not uncommon to see win limits as high as £500 or even £1,000.
Other Terms
One of the most frustrating terms found on casinos and sportsbooks is the requirement that you contact customer support. The idea is that you deposit a qualifying amount and then tell the support team about it. Only then will they release the bonus.
It doesn’t sound like a big deal, but you won’t think that if you miss the term, don’t make contact, and then lose out as a result. You don’t have an indefinite timeframe and often need to send an email or use live chat within 24 hours, so it’s easy to miss this term.
Payment restrictions are also very frustrating. It’s fairly common for casinos to refuse bonuses to players who use web wallets like Skrill and Neteller, so if you typically use these payment methods, be on the lookout for this term.
How Can Gambling Sites Afford to Offer These Promotions?
A 200% bonus seems overly generous when you consider that casinos and sportsbooks are for-profit businesses. But they have been carefully structured to ensure that the sites still make a profit in the long run.
It’s partly the result of the terms and conditions—the more you play, the more the balance will tip in the operator’s favour. But marketing also comes into it. Casinos and betting sites spend millions marketing their services, and a sizeable percentage of that is spent on pay-per-click and pay-per- engagement services.
By offering a generous bonus, they can increase the likelihood of a player signing up, thus reducing the amount they spend to attract each new player.
So, while they can seem a little too good to be true, they are often just as beneficial to the gambling site as they are to the player.
Examples of a 200% Deposit Bonus
Now that you know how 200% deposit bonuses work, let’s take a closer look at an example. This is not based on any particular casino promotion, but it’s fairly typical, so it serves as a good representation.
- Get a 200% deposit boost up to £500
- Minimum deposit = £20
- Wagering requirement = 50x
- Wagering period = 7 days
- Payment restrictions = Skrill and Neteller
Here are a few ways this bonus might play out:
- You deposit £10. The bonus is not released as you didn’t meet the minimum requirement.
- . You deposit £20, collect £40 in bonus credits, and must wager £2,000. You reach £1,800 in 7 days. The bonus expires and you lose all credits.
- You deposit £100, collect £300 in bonus credits, and must wager £15,000. You clear all £15k within 7 days and have £500 left over. That £500 is converted to cash and can be withdrawn.
- You deposit £20 with Skrill. The bonus is not released as Skrill deposits are excluded.
Where Can You Find 200% Deposit Offers?
200% deposit offers can be found at bingo sites, online casinos, and a few
sportsbooks. They are rarely seen on poker sites.
You’ll find them on big and small operators and they are available throughout the year.
To start collecting 200% deposit offers, check out the sites in this guide. All of them have these offers available right now, and we have reviewed every single one of them.
To get your hands on some other top bonuses, check out our guides to £5 no deposit bonuses and £20 deposit bonuses.
FAQs
It sounds like a stupid question. 200% is higher than 100%, and when it comes to bonus credits, you want as many as you can get, right?
Well, yes, but the terms attached to these bonuses mean that 200% isn’t always better than 100%. What if the 200% offer has a maximum bonus cap of £30 or a winnings cap of £50? What if it excludes all web wallets and has a massive wagering requirement?
Sometimes, 100% offers are better, which is why it’s important to check the terms and conditions.
It depends on what you want from the bonus, as well as how much you’re depositing.
For small stake players, a no deposit bonus might be best. For high rollers, cashback could be the most suitable promotion.
In the first instance, you should check the terms and conditions to make sure you’re not missing anything. It could be that you just need to wait a little longer or contact the customer support team.
If you can’t find anything relevant in the Ts & Cs, get in touch with the customer support team. They can tell you what the issue is and ensure you get whatever funds you’re entitled to. Just be prepared for some disappointment, as they may tell you that you overlooked one of the terms and aren’t entitled to the bonus.
First deposit bonuses are available to new players only, and as your player account is tied to your identity, there’s no way of signing up and collecting multiple offers.
Even if you find a way around this, we wouldn’t advise it, as they’ll find out eventually and when that happens they may suspend all of your accounts.
You may also be prevented from collecting a first deposit bonus if someone with the same surname in the same house has collected one. Check the terms and conditions for more information about these restrictions.
