No Deposit Bonus
One of the main reasons players try new gaming sites is for the bonuses. However, some may feel intimidated by matching bonuses, which require people to put up their own money first. No deposit bonuses are a tool online casinos use to attract new players who do not want to put up their own money. It’s important to understand how no deposit bonuses work, which is why we are providing the following information.
No Deposit Bonuses
What are No Deposit Bonuses?
No deposit bonuses are those that do not require you to deposit any of your own funds in order to play. Instead, the gaming site will provide you with a certain amount of credit to play with. No deposit bonuses generally fall into one of four categories, which are:
- Cash up front, which involves the casino instantly adding money to your account.
- Free spins, which allow you a take certain number of spins, usually on specific slot games.
- Free play, an option that will allow you to “try out” a game before making a deposit.
- Time-limit bonuses that are available only for a certain period of time.
Online platforms do not always specify which type of no deposit bonus they are offering. Others will offer a combination of deposit and no deposit bonuses. One example is when a site matches a cash bonus and also provides you with free spins. It’s up to you to read the fine print and determine which category of no deposit bonus the incentive falls into.
Restrictions on Winnings
Online gaming sites know that no deposit bonuses are very enticing. To keep people from using a bonus over and over, they strictly limit them to only one per player. This means you may need to provide some form of identification before you can become eligible.
There may be restrictions on your winnings as well. One common restriction is a wagering requirement, which mandates you bet a set amount of your own money before cashing out. This is often higher than with other types of bonuses, and can be up to 100x the amount offered. Always know what the wagering requirements are before signing up for any no deposit bonus.
Some platforms may have a maximum converted value on no deposit bonuses. What this means is that your winnings are restricted to only a certain amount. For example, many limit the payouts to anywhere from $50 to $100. If your bonus results in winnings over that amount, you will not be able to withdraw them.
Look for restrictions on the maximum allowed bet. With this type of restriction, you’ll be unable to bet more than a set amount when wagering with a bonus. If you bet more than this amount, you will be ineligible to withdraw your winnings. The maximum allowed bet is not always stated, so you should read the terms and conditions very clearly.
How to Withdraw
To withdraw your bonus, you will first need to make sure you have cleared any wagering or other requirements. In the case of time limit bonuses, be sure that the bonus period has not yet expired. Time limits are typically very short periods such as one or two hours. It can be easy to get so caught up in playing that you lose track of time, so you should watch this very carefully.
Most gaming sites accept a number of payment options, and will allow you to withdraw earnings to an e-wallet such as Skrill or Neteller for free. Once the site has verified your identity, you will be able to withdraw funds to an approved payment method. Withdrawal timeframes vary greatly. With most e-wallets, funds can be available in as little as one hour. On the other hand, you may have to wait as long as 24 hours when using a credit card or electronic check.
Benefits of No Deposit Bonuses
Although they do come with some restrictions, no deposit bonuses are nonetheless a good way to get a feel for how a site operates. Take advantage of free spins and free money to determine whether or not a platform is right for you. If you don’t like it, you can always leave before depositing any real money of your own.
Some players are not concerned with wagering amounts or other restrictions. If you were planning to bet that much anyway, a no deposit bonus is essentially extra money that you have on top of the funds you were already going to wager.
Despite their restrictions, many players do cash out their winnings from a no deposit bonus. Your best chance of success comes when you have read, understood, and agreed to the rules beforehand.
Make the Most of a No Deposit Bonus
Now that you know what a no deposit bonus is, you are better able to choose the right one. Keep the above information in mind to help guide you in the process.