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The Truth About No Deposit Casino Bonuses
Depending on the laws on gambling in your country, there can be several dozen casinos to choose from if you want to play your favourite casino games online. All of these casinos are competing for your business and in a bid to lure you to their casino and steer you away from their competitors, many […]
Depending on the laws on gambling in your country, there can be several dozen casinos to choose from if you want to play your favourite casino games online. All of these casinos are competing for your business and in a bid to lure you to their casino and steer you away from their competitors, many casinos offer new players incentives for registering an account.
Incentives for new players, also known as ‘Welcome Bonuses’, ‘Sign Up Bonuses’ or ‘New Customer Offers’, can vary in type and value depending on the casino offering them. Some of the most common types of welcome offer include:
- Deposit Bonuses
- No Deposit Bonuses
- Free Spins
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No deposit bonuses are generally the most favoured type of incentive with new players at a casino. Especially with casual players who want a chance to win some money but with minimal risk to their own funds. Several online casinos offer new customers No Deposit Bonuses but how valuable are they and are they too good to be true?
What Are No Deposit Bonuses?
Unlike deposit bonuses which require you to deposit your own funds in order to receive the bonus, no deposit bonuses are usually awarded simply for registering an account with an online casino. Online casino bonus codes are sometimes required to claim them upon registration but as a deposit isn’t required, they can be classed as risk-free.
Many new casino players are sceptical about No Deposit Bonuses as nothing in this world comes for free. However, online casinos can afford to give players these type of bonuses as in return, despite not receiving an initial deposit, they are acquiring a new customer who they can market their other offers and casino games to at a future date.
As well as this, no deposit bonuses aren’t usually as valuable as they initially sound due to the following reasons.
1. They’re generally quite small
If you visit an online casino offering deposit bonuses, you may find bonuses of £100, £200 or even £500 available. However, no deposit bonuses are generally a lot smaller with the average amount being around £10. That doesn’t mean that they’re not worth claiming but it’s a point worth making as you’re unlikely to generate large profits from them.
2. They come with wagering requirements
Wagering requirements come with all casino bonuses. If they didn’t, they would simply be cash. For example, if a casino was offering a £10 no deposit bonus which didn’t need to be wagered, you could simply withdraw the bonus into your bank account.
Wagering requirements vary massively between casino bonus offers and can range from 1x to 50x or more. The majority of no deposit bonuses generally have quite high wagering requirements and this is because the casino wants to make it relatively hard for you to meet the requirements and make a profit from the bonus as only once you meet the requirements are the bonus funds converted to cash and available to withdraw.
Let’s say that you are offered a £10 no deposit bonus with a casino and the wagering requirement was 50x the bonus. This means that you must wager a total of £500 (£10 x 50) before any remaining bonus funds are transferred to your cash balance. Wagering £500 with a starting balance of £10 is not easy and it’s likely that you’ll bust out before you meet the requirements.
3. Only certain games contribute towards the wagering requirements
To make things harder for the player, only wagers made on certain casino games contribute towards the wagering requirement of the bonus. This is the case the majority of the time with no deposit bonuses.
Games such as Blackjack and Roulette can be relatively low risk in that if played with low stakes and in the right way, they are less volatile than other casino games such as online slots. As there is a greater chance of meeting the wagering requirements with these games, many casino’s include in their terms that wagers on them don’t count towards the requirements. You may be able to play these games using your bonus but you’ll still have to meet the wagering requirements on eligible games to withdraw the funds.
4. There can be a cap on the amount you can win
One of the most popular game types in casinos are slots as they have the potential of big wins with relatively low stakes. However, no deposit bonuses usually come with winnings caps which means that should you meet the wagering requirement of the bonus, there will be a limit on how much of your remaining bonus will be converted into withdrawable cash.
For example, if the cap was £20 and you hit a £1,000 win on slots, if you went on to meet the wagering requirement, only £20 of your bonus funds would be withdrawable with the remainder being forfeited.
This means that the casino has a maximum risk of £20 per no deposit bonus in this example and only a small percentage of players will actually meet the wagering requirement to claim it.
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Conclusion
So, there are a lot of negatives in the terms of no deposit casino bonuses, so does that mean that they’re worth steering clear of?
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Usually not.
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Despite their small value, the wagering requirements and the potential cap on winnings, no deposit bonuses usually still provide a risk-free way of potentially making a profit, albeit a small one. They can also provide a good chance to take a closer look at a casino that you are considering playing at, testing out some of their games and viewing the members area with your free account.
Disclaimer:
- As per the Public Gambling Act of 1867, all Indian states, except Goa, Daman and Sikkim, prohibit gambling
- Land-based casinos are legalized, with certain guidelines, in Goa and Daman, as per theGoa, Daman and Diu Public Gambling Act 1976
- Land-based casinos, Online gambling and E-gaming (games of chance) are legalized in Sikkim under the Sikkim Online Gaming (Regulation) Rules 2009
- Only some Indian states have legalized online/regular lotteries as per and subject to the conditions laid down by state laws. Kindly refer to the samehere
- Horse racing and betting on horse racing, including online betting, is permitted only in a licensed premise in select states. Kindly refer to the 1996 Judgement by the Supreme Court Of India here and for more information
- This article does not endorse or express the views of Qrius and/or any of its staff.
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