No Deposit Bonuses – What’s The Catch?
September 25, 2020
Online casinos have various ways of attracting new players and retaining the ones which they have. Players look for a variety of things when signing up to a new casino with some being the best range of slots, live casino games, fast withdrawal times, generous loyalty and VIP schemes, good customer service or games from a specific developer such as Microgaming or Playtech. However, one factor which has proved most successful in attracting new players to an online casino are casino bonuses.
Casino bonuses are available to existing customers as well as new customers but the most generous ones are usually given to the latter as an incentive for registering a new account.
There are various types of casino bonuses available to new players which we will take a look at below.
Deposit bonuses can range anywhere from as little as £10 all the way up to several thousands of pounds. The sight of a £2k bonus is appealing to many players which often makes them a popular choice with casinos attempting to attract new customers. Deposit bonuses come with wagering requirements which are usually in the range of 10x to 50x the bonus amount and have varying terms depending on the casino offering them.
Online slots are the most popular games at online casinos and so it makes sense to offer new customers free spins on selected slots in return for registering an account. Sometimes the free spins are given upon registration and other times they are credited when a deposit is made or the player has wagered a minimum amount. There may also be win caps or wagering requirements on the free spin winnings with terms differing between casinos and promotions.
No Deposit Bonuses
Where Deposit Bonuses are aimed at the more experienced casino player, no deposit bonuses are aimed at attracting beginners. They’re available to players all around the world with US online casino no deposit bonus offers common as they are with UK casinos.
As the name suggests, bonuses are given without a deposit having to be made which gives the player a risk-free chance of making a profit simply for registering a new account with the casino.
Free Money? So, what’s the catch?
No deposit bonuses are generally of a much smaller value than bonuses which require a deposit and are usually in the range of £5 to £10. However, some casinos do offer no deposit bonuses of up to £88.
Although you are credited with the bonus upon registration, you cannot simply withdraw it. All no deposit bonuses come with wagering requirements which are generally a lot higher than standard deposit bonuses. Where deposit bonuses may have wagering requirements of 10x-50x the bonus, no deposit bonuses may have to be wagered up to 99x. This makes completing wagering quite difficult.
For example, if you were awarded a £10 no deposit bonu with 99x wagering, this means that you must wager £990 using that £10 bonus before the bonus funds would be converted to cash. The chances of completing the wagering before busting out are slim.
On top of the high wagering requirements, no deposit bonuses usually come with a win cap. This is to stop players winning large amounts without having to make a deposit. Win caps are usually set quite low at between £20 – £100 but can sometimes be higher.
Does that mean No Deposit Bonuses aren’t worth it?
Absolutely not. No deposit bonuses are a risk-free chance of generating a profit and also a great chance to try out a new casino without having to deposit. There are several online casinos which offer no deposit bonuses to new players to start taking advantage today.