A welcome bonus is the promotional offer an online casino or sportsbook gives new accounts on their first deposit, typically structured as a percentage match up to a maximum amount (e.g., "100% match up to $500"). It is the single largest acquisition cost for operators and the noisiest part of comparison shopping.
Also known as: signup bonus, first-deposit bonus, new-player offer
Match percentage and ceiling are the headline numbers but the wagering requirement, max-cashout cap, game contribution rates, and expiry window determine actual value. A 200% match up to $1,000 with 50x wagering and a $300 max cashout is materially worse than a 100% match up to $250 with 25x wagering and no cap.
AGCO marketing rules in Ontario restrict bonus advertising: operators cannot lead with the bonus amount without simultaneously surfacing the key restrictions. This is why most Ontario operator landing pages now include the wagering requirement in the headline.
Always read the full T&Cs before opting in. The phrase "subject to wagering requirements" hides 80% of the actual offer value.