Online casino enthusiasts get really upbeat about new games, but the one thing that excites them, even more, is when a casino offers a no-deposit bonus. As the name of the bonus gives away, these are bonuses that players can receive without having to make a deposit at all, hence the “no deposit bonus”.
A no-deposit bonus is reserved only for new players and is basically an incentive for guests to sign up and become registered members of a casino. Just by signing up, the player will be issued the no-deposit bonus. Usually, the no-deposit bonus is either some bonus cash or a few free spins. If it’s the latter, you can play for free with the free spins and possible win bonus cash.
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Bonus Funds vs. Real Money Funds – A Significant Difference
You might be thinking – Hey! Free Money! But not so fast. Even though it sounds like free money, there are some technicalities involved.
To begin with, in most online casinos, bonus funds are made distinct from real money funds. The difference being – you cannot actually withdraw bonus funds. Does that mean you cannot withdraw any money from the no-deposit bonus at all or any other bonus for that matter? No, it does not. There is a process through which you are able to convert your bonus funds into real funds and withdraw them.
So, if an attractive no deposit bonus has caught your eye and you’re planning on claiming it, read this guide on how to withdraw bonus funds before you chase after it. Once you understand how to meet the withdrawal requirements, you’re going to be able to really profit from your casino bonuses. And if that weren’t enough, you can revel in some of the best casinos offering $500 no-deposit bonuses which can be found at NoDepositDaily.
Wagering Requirements – What it is and How to Beat it
In order to convert your bonus funds to real money funds and then pocket it, there is one primary roadblock that you need to get past. This roadblock is referred to as “wagering requirements”. Wagering requirements effectively define how much money a player needs to the first playthrough before certain bonus funds are eligible for withdrawal. The wagering requirements are not expressed as a fixed sum of money, but rather as a multiplier of the bonus amount itself.
For example, if you claimed a no-deposit bonus and received $10 and the wagering requirements are 35x. This is what it means – to convert your $10 bonus funds to real funds and then withdraw it, you first need to wager 35 times $10 at the casino. Therefore, once you wager $350, then you can withdraw your $10 bonus funds.
Now, you might be thinking – that’s all? It’s pretty simple! But not so fast. There are a couple more things you need to know about wagering requirements. These things are – the time frame and the game contribution weightage.
Game Contribution Weight-age – An Important Nuance of Wagering Requirements
It’s not just that you need to wager $350 to withdraw the money you received when you claimed your no-deposit bonus. There is also a limited amount of time within which you need to meet these wagering requirements. Your ability to quickly meet the requirement is also highly dependent on which types of games you wager on.
Time-frame
The withdrawal terms will also mention how long you have to meet wagering requirements. This can differ quite a bit from one casino to another. It’s usually somewhere between 7 days to 1 month. The longer you have to meet the wagering requirements, the easier it is to do so. If you need to wager a lot to meet the wagering requirements and the time you are allotted is too short, then such a bonus is better skipped.
Game Wagering Contributions
Online casinos basically want players to play slots more than games like Blackjack or Baccarat. The reason for this is very simple. Slots have the highest house edge. So, when players play slots, the house stands to make more money than if players had wagered the same amount on table games like Blackjack, Roulette or Baccarat.
This is primarily why, in the withdrawal terms, online casinos will assign 100% weight-age to slots and much less to other types of games. If you were to wager $350 on slots, then all $350 would be contributed towards the completion of the pending wagering requirements. On the other hand, if you wagered $350 on Blackjack (for which the terms assign a weight-age of 50%) then only $175 will count towards meeting the wagering requirements. Essentially, you will need to wager twice as much to meet the wagering requirements playing Blackjack than when playing slots.
What to Look for in a No Deposit Bonus
So, if you’re looking to swiftly and easily meet the wagering requirements and claim your no-deposit bonus, here’s what you need to look for in the no-deposit bonus:
- Low wagering requirements: anything below 35x is considered low on average.
- Good amount of time provided to meet the wagering requirements
- Check and see what the game weighting percentages are for different types of games and make sure it works for you
- Find a no deposit bonus where the max cash out limit is not too low. Because then, even after you’ve met all the withdrawal terms, you can only cash out up to this defined limit.
