n 2007, I joined over 20 different online poker rooms accumulating deposit bonuses in excess of $10,000. This made a major difference to my profits and was simply an opportunity I couldn�t pass up. You may not play poker professionally but the least you should do is take advantage of a deposit bonus the next time you play. With deposit bonuses expiring on average every three months even a recreational player should be looking to join at least 4 new online poker rooms a year.
I have written about a deposit bonus I recently completed at Hollywood Poker. It may help you to fully understand how a deposit bonus affects how much money I make. To read about this deposit bonus click here.
What is a deposit bonus?
A deposit bonus is an incentive to get you to join a new online poker room. For example: a 100% up to $500 deposit bonus is a common offer by many of the top online poker rooms. What this means is that however much you first deposit, up to and including $500, you will get the same amount as a bonus.
Let�s assume you deposit $500 (and I always recommend you deposit the maximum for reasons I�ll explain later) you will then have a $500 deposit bonus. It won�t be awarded to you straight away (so don�t spend it yet); you�re actually going to have to earn it. This entire deposit bonus is in fact simply just a promise to pay you back $500 of your own money. However, don�t be put off by that, it�s still great news for you.
The rate at which you play poker and the stakes you play for will determine how quickly your deposit bonus is released. The bonus is, in most cases, paid to you in increments (often $10 or $20 at a time). How much you have to play to release your deposit bonus will depend on the online poker room in question.
For example at Full Tilt Poker you�ll earn $4.20 of your bonus for every $10 in rake you pay. So $47.60 in rake will unlock $20 of your bonus. What this means is that you�re getting 42% of your rake back. That is a massive discount!
If you currently play at an online poker room and are not earning any kind of bonus from them, then you need to join a new online poker room. You are literally �throwing money away� and paying almost double for your game of poker as a new player on their site! Is that fair?
Just to be clear, the deposit bonus is essential for someone who plays online poker regularly. It means you�re getting a lot of the money, that you pay the online poker room, back. You�re not actually getting free money more a refund or discount on your rake. But it is still money you won�t get if you�ve been at your online poker room for too long and are not receiving any bonuses.
If you�re a losing poker player a good deposit bonus will help you to lose less or perhaps break even. If you�re a break even poker player a deposit bonus will put you into profit. Finally, if you�re a winning player anyway, think of it as a way to make more money. Winning poker players look for every opportunity to make the most amount of money out of every situation. Don�t miss this opportunity.
Hopefully I�ve convinced you that deposit bonuses are worth having. If you�re still unsure please go back and read through the last section again. I really can�t stress this point enough.
Finally: Before I suggest where you should be playing poker let me just explain why I feel you should always deposit the maximum.
If a site offers you a 100% bonus up to $500 I seriously recommend you should think about putting $500 into your account. Firstly it�s a one time offer. If you deposit $100 to start with and then $400 later your bonus is still only $100.
If you think you�re a winning poker player and won�t need to deposit that much into your account you should still put the maximum on. You can always withdraw your money later - you can�t get a bigger bonus later. Remember: winning poker players make the most out of every situation.
If you�re a losing poker player, or a new player, you may feel reluctant to deposit a lot of money onto an online poker room. However, remember this is a real way of minimizing your losses so deposit as much as you can afford to. Ultimately you can always withdraw excess funds at a later date.
Note: If the thought of even depositing $100 onto an online poker room account is something you can�t afford to do or simply feel uneasy about doing then don�t stop reading now. In Poker Bible Tip 3, I will show you exactly how you can get free money (in some cases $150 in an online poker room account, without depositing any money yourself). Go to Tip 3 now.
Why Deposit Bonuses are so Important