The way a sign up bonus works is rather simple: the casino offers a matching monetary bonus to an initial deposit when opening an account. For example, if you deposit $500, you may receive a sign up bonus of $100. You then have $600 in your account in which to wager as you please. This way, you can play more often or increase your bet amounts. This creates a stronger chance of winning.
And, no, you can not make a deposit and immediately withdraw the bonus money! Casinos are commercial enterprises. They are not charities! Generally, there are a number of rules in place when it comes to withdrawing the bonus money. If you open a deposit with $500 and receive a $100 bonus, you can withdraw your $500 any time, but you will not be able to touch the $100 until a minimum bet amount - say $200 - has been played. This protects the casino's investment and maintains the integrity of any gaming.
Casino bonuses are a great deal. They are simple in concept and easy to access. So, if you come across a solid bonus offer....don't pass it up!